threshold limit of Gst Calculation
This query is : Open
11 October 2017
Client receives rental income which doesn't exceed 20lacs and client is a individual & director of company and Received professional fees on which reverse charge applicable so
how to calculate Gst threshold limit Rental income +Professional fees (reverse charge 9(3))
11 October 2017
aggregate turnover” means the aggregate value of all taxable supplies, excluding the value of inward supplies on which tax is payable by a person on reverse charge basis, exempt supplies, exports of goods or services or both and inter-state supplies of persons having the same Permanent Account Number, to be computed on an all-India basis but excludes Central tax, State tax, Union territory tax, Integrated tax and cess.
No inward supply under RCM includible in it .
So you have to calculate threshold as per rental income.e only
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11 October 2017
but here reverse charge is not inward it is outward reverse charge 9(3)
12 October 2017
Ohh yes then same is includible in turnover......
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12 October 2017
Thank you madam for your answer......
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12 October 2017
Welcome dear. .....
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