Any clarity on the impact of GST on remuneration paid by firm to partners on and above share of profit.
Also impact of GST on interest on partners capital.
Point to be noted is as per Partnership Act, partners and firm are one and the same.
3 Replies
vinay
(CA Practice )
(24 Points)
Replied 07 July 2017
Refer FAQ. No GST applicable on salary to partners. Again interest is exempt from the preview of GST
vinay
(CA Practice )
(24 Points)
Replied 07 July 2017
Refer FAQ. No GST applicable on salary to partners. Again interest is exempt from the preview of GST
mounica
(student)
(143 Points)
Replied 21 September 2017
dear sir, is it under exempted category OR non GST ? (int on capital & remunertion to partners)
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