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MONEY TRANSFER
IS MONEY TRANSFER BUISNESS BY INDIVIDUAL IS COVER UNDER GST? ONE TRANSFER THE MONEY BY USING UPI/NEFT/RTGS/IMPS FOR EARNING THE COMMISSION, FROM HIS PERSONAL BANK A/C AND AGAINST WHICH HE RECEIVES CASH FROM THE SENDER WHICH INCLUDES THE TRANSFERRED AMOUNT PLUS COMMISSION. IF THE SAME COVERED UNDER GST , THEN PLEASE SEND ME THE APPLICABLE RULES & REQIREMENT UNDER LAW & REGULATIONS.
Replies (1)
yes it is taxable supply as this is use of money for consideration. Pls refer defn of MONEY .. but no need to get registration if his commision income is less than 20 lacs(10lac in notified area).
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