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Commission income

22 January 2021

if i am regiserd person & i resceive commisson under 1 lakh in one year then any liabilities cone for gst

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3 Replies

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (5227 Points)
Replied 22 January 2021

Yes, GST is to be charged on commission at rate of 18%. If a person registered under GST charges commission for transaction which is not his normal business then also GST is applicable.

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Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (5227 Points)
Replied 22 January 2021

GST registration applies to all commission and brokerage income irrespective of the turnover limits of the taxpayer.

kashmira zinzuvadia (4 Points)
Replied 12 March 2021

What is the solutions if commission received but forget to raise the bill in f. y. 18-19 ? is not in commission business but had one income. paid income tax also but forgot to raise bill? any solutions? what could be the effect when audit happens? do the needful asap.