GST on Brokerage
Rakesh Goenka (140 Points)
22 February 2018
Are we required to pay GST under RCM for brokerage paid to unregistered party.
10 Replies
Sumit Sarswat
(Student)
(3154 Points)
Replied 22 February 2018
RCM is not applicable here. you are not required to pay GST.
Broker have to collect and pay GST if he exceed the turnover limit of Rs.20/10 Lakh.
Broker have to collect and pay GST if he exceed the turnover limit of Rs.20/10 Lakh.
srimanth kumar k
(42 Points)
Replied 22 February 2018
Since GST ON RCM basis is postponed till March 2018, you need not to pay Gst under RCM, if the government brings back RCM concept, then if the amount paid per day to a broker exceeds 5000 you should pay GST on RCM basis
Sumit Sarswat
(Student)
(3154 Points)
Replied 22 February 2018
Mr srimanth your concept is applicable when supplier is unregistered and recipient is registered.
but in this case both are unregistered so question of RCM defined u/s 9(4) of CGST act, 2017
but in this case both are unregistered so question of RCM defined u/s 9(4) of CGST act, 2017
Shivam RC
(Student)
(23683 Points)
Replied 22 February 2018
Yes... you are right Sir @ Srimanth kumar
srimanth kumar k
(42 Points)
Replied 23 February 2018
Here the service recipient is a registered person under GST Mr. Sumit
Sumit Sarswat
(Student)
(3154 Points)
Replied 23 February 2018
oh sorry about that..... than you are right Mr srimanth. Thank you for correcting me :-)
KAMAL
(INDIVIDUAL)
(2 Points)
Replied 23 February 2018
HELLO SIR MY QUESTION IS GST IS LEASED AT GST,THEN WHAT IS THE PROCESS OF TDS ON IT ?
Rakesh Goenka
(140 Points)
Replied 23 February 2018
Plz also inform the SAC code for brokerage/commission paid.
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