GST as part of Brokerage for Sale of Property
This query is : Resolved
02 June 2021
Dear Sir
For a sale of property, I am paying a brokerage of 90000 on which GST of Rs.16200 has been levied by the Broker. Invoice value - Rs.106200.
While calculating capital gains, what should i show as expense incurred for sale - Rs. 106200 or Rs. 90000.
Can i pay this amount by cash or it needs to be through cheque?
For a sale of property, I am paying a brokerage of 90000 on which GST of Rs.16200 has been levied by the Broker. Invoice value - Rs.106200.
While calculating capital gains, what should i show as expense incurred for sale - Rs. 106200 or Rs. 90000.
Can i pay this amount by cash or it needs to be through cheque?
02 June 2021
Show Rs. 106200 amount actually paid.
Pay through cheque.
Pay through cheque.
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02 June 2021
You can take Total amount including GST as brokerage expense while calculating Capital Gain.
02 June 2021
Thank you Mr. Seetharaman and Ms. Pooja for the quick and prompt response.
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