I need a clarification. I am working in an advertising agency. I am getting bill from publication for the advt released for our client as follows.: Advt Cost Rs. 100 Less 15% agency Commission and GST 5% on 85%.
Now How do i charge client. 85% is payable to publication, and (out of 15% as agency Commission) we share a part of amount with client.
Both attract 5% / 18% or how to do the billing more
Now How do i charge client. 85% is payable to publication, and (out of 15% as agency Commission) we share a part of amount with client.
Both attract 5% / 18% or how to do the billing more
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Oct 31
Mr. Gopalan, there are are 2 ways First: Ask your parent co. bill directly to your customer at the rate agreed between you and your customer. Then your parent co. can pay you the difference as commission. This is agency commission model. Second: You have to take GST registration. Get the billing done in your name directly from your parent co. with 15% discount (not agency commission) and then issue YOUR bill to you customer. This is ad. space sale model. more
Aug 09
Both Options are right. you have to get yourself get GST Registration in order to get input credit benefit. More over what ever amount you share with your client charge it as commission and GST will apply to it. You can claim The GST tax credit. Ca Chander Hash more
Aug 10
as though if all the processes are laid, anybody at all is going to follow them!!!!!!!!!!!!!!!!!!!!!!! more
Aug 09
Can any body clarify. I have a car on my personal name. If I sell it for say 3L, will there be any GST obligation, or it is just added to my personal income as payment is collected by cheque. more
Aug 09
NO GST on sale of personal car. No income tax on sale of personal effects except gold, Silver etc. more
Aug 09
Dear Mr. Sanjeev Bhatnakar,
I reproduce below, a news clipping containing the clarification by Revenue Secretary, as seen in the Financial Express.
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The sale of second-hand cars on the vendor platforms will attract goods and services tax (GST) only on the margins made by the dealer, revenue secretary Hasmukh Adhia clarified on Tuesday, removing apprehensions that the tax will apply on the entire sale value. The revenue secretary also said sale of second-hand cars between individuals or by individual to a firm won’t be treated as taxable transaction under GST. The tax will apply only on cars sold by registered vendors. The GST rates for second-hand car transactions will be the same as the new cars of the same make — 29% for small cars or 43% for all the other cars. Currently, used cars attract VAT at 0.5-14% in across various states and the levy is on the resale value. Tax experts said in states where the VAT on rates on used cars is higher than 5-6%, the tax incidence will be lower under GST and in other states there could be marginal increase.
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I am sure that this clarifies your concern.
Regards.
M.Balachandran
chandran75@gmail.com more
I reproduce below, a news clipping containing the clarification by Revenue Secretary, as seen in the Financial Express.
==============================================
The sale of second-hand cars on the vendor platforms will attract goods and services tax (GST) only on the margins made by the dealer, revenue secretary Hasmukh Adhia clarified on Tuesday, removing apprehensions that the tax will apply on the entire sale value. The revenue secretary also said sale of second-hand cars between individuals or by individual to a firm won’t be treated as taxable transaction under GST. The tax will apply only on cars sold by registered vendors. The GST rates for second-hand car transactions will be the same as the new cars of the same make — 29% for small cars or 43% for all the other cars. Currently, used cars attract VAT at 0.5-14% in across various states and the levy is on the resale value. Tax experts said in states where the VAT on rates on used cars is higher than 5-6%, the tax incidence will be lower under GST and in other states there could be marginal increase.
=============================================
I am sure that this clarifies your concern.
Regards.
M.Balachandran
chandran75@gmail.com more
Aug 09
