Mr Roy is a director (URD) of the GST Registered company M/s XYZ. He is received Rs 150000/- as Director Remuneration and Rs 50000/- Received as Retainership Fees From Company.
Now Question is
1. What are the GST Treatment of Director Remuneration and Retainership Fees in point of M/s XYZ?
2. Is both service are fall in RCM?
3.Can the company claim ITC?
please help
With respect to taxability it highly depends on the contractual terms as to in which capacity is the person giving the services.
Where tax is liable to be paid under RCM then ITC is available in full provided the fact that the outward supplies should be taxable.
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