Nilesh (a) (121 Points)
17 February 2018Whether Lucky draw scheme run by a partnership firm is taxable under GST or Exempt ?.if GST is applicable how it is applicable ?
there are around 1000 members contributing 1000 per month for 12 months monthly prizes are distributed in cash & kind .
expert advise is needed please help .
RAMESH KUMAR SINGLA
(PROFESSIONAL)
(1777 Points)
Replied 17 February 2018
whether partnership firm is charging any commission?
Nilesh
(a)
(121 Points)
Replied 17 February 2018
clearly they are not charging any commission but their motive is profit the difference between collection and prizes distributed in cash & kind and expenses incurred to run this schemes will be there income .
CAclubindia
