Gstr1 by subbroker

mahendra mullick (ceo) (25 Points)

03 October 2018

AT THE TIME OF GSTR1 WHICH TABLE SHOULD THE SUBBROKER FILL b2c or b2b ?Please note that the sub broker is an agent pf the Main broker and the main broker collects the gst from the client along with the brokerage and pass on 75% of the total brokeage to the subbroker alongwith proportionate GST, And the subbroker deposit the GST to the GOVT. The sub-broker is also registered in GST as he is an agent of the main broker. The main broker deposits 25% to the Govt, Is the main broker entitled to get Input tax credit. If yes , Why If not Why?

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Anirudh (Student) (299 Points)
Replied 03 October 2018

Main broker is eligible for ITC of GST on brokerage amt. shifted/paid to sub-broker.

K P S Group (247 Points)
Replied 03 October 2018

The main Broker is eligible for ITC

Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 03 October 2018

The sub broker is providing services to Main Broker for which he will raise the TAX INVOICE to him. & the Main broker can claim ITC on the same .

Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 03 October 2018

The sub broker is providing services to Main Broker for which he will raise the TAX INVOICE to him. & the Main broker can claim ITC on the same .

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