26 December 2018
Seetharaman Sir, I am a sebi registered sub-broker in the share market. I have registered for GST. I understand that if the turnover is more than Rs. 2 crore, one has to get the books audited for GST . For a sub-broker, how to calculate the turnover? 1) I am only earning brokerage from my main broker, for the transactions I do on behalf of my clients. 2) For me, as a sub-broker, is my brokerage my turnover? 3) If not, is the vale of the transaction carried out on behalf of the client, my turnover? Kindly guide me.
CAclubindia
