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GST on Brokerage
Are we required to pay GST under RCM for brokerage paid to unregistered party.
Replies (10)
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.
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
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
Yes... you are right Sir @ Srimanth kumar
Here the service recipient is a registered person under GST Mr. Sumit
oh sorry about that..... than you are right Mr srimanth. Thank you for correcting me :-)
HELLO SIR MY QUESTION IS GST IS LEASED AT GST,THEN WHAT IS THE PROCESS OF TDS ON IT ?
You are welcome sir @ Sumit 😊
Plz also inform the SAC code for brokerage/commission paid.
It is 9961
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