This is a Franchise Commission
Gross Comm. 42.50
GST deducted. 7.65
TDS deducted. 2.13
Net Commission received. Rs.32.72
Dear Sir
This is a Net commision received by one of my friends for working as franchise.
Can any one tell how this is been calculated..
Is the net commission correct.
They have deducted the GST and TDS from Gross commission..
If you are having GST number and When you issued Commission bill 42.50 +18% GST = 50.15 , you should receive 42.50 less TDS 2.13 Net amount 40.37 instead of 32.72.
And after that you have to deposit 7.65 GST collected to GOVT account out of 40.37.
CAclubindia
