Hi, I work in a company who is a mobile recharge distributor.
Suppose, they do mobile recharges of Rs. 1,00,000/day from telecom operator/other distributor and get commission of Rs. 2,500(2.5%) which is inclusive in Rs. 1,00,000. Now, they give this recharge balance to agents and give them commission of Rs. 2,000(2%). Now, my net commission earned is Rs. 500.
What will be my output GST and Input credit? Will GST be charged on total Rs. 1,00,000 or only commission part? Please provide the accounting entry also.
Thanks,
Jitendra Singh