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The following services provided for commission are exempt under GST: Services by the fair price shops: To the Central Government on sale of rice, wheat, and other coarse grains. To the state government or Union Territories on sale of kerosene, sugar, edible oil, etc. Support services to agriculture, forestry, fishing, and animal husbandry.
Jun 30, 2019 · A Commission Agent is required to obtain Compulsory Registration u/s 24 (vii) of CGST Act, irrespective of its turnover. Thus, the threshold limit of Rs.20 lakh as enunciated in section 22 (1) of CGST Act, does not apply to an Agent. The extract of Section 24 of CGST Act, 2017 is reproduced as under:
Apr 1, 2021 · Service Accounting Code are mandatory on invoices for supply of services as per revised requirement from 1st April 2021 for GST taxpayer with turnover of more t
Description of Services. Rate (%) CESS (%) Effective Date. Rate Revision. 9971. Financial And Related Services. 12/18. Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women's World Cup 2020.
The HSN CODE FOR Services provided for a fee/commission or contract basis on wholesale trade is 996111. The full form of HSN Code is Harmonized System of Nomenclature. It was introduced in 1988 by the World Customs Organization (WCO). It is a 6-digit code that separates different products.
Search and Find HSN Codes, SAC codes & GST Rates of goods and services under GST in India. Under GST, tax slabs have been fixed at 0%, 5%, 12%, 18% and 28%
Apr 27, 2023 · The HSN code for commission (998351) should be used when reporting income earned from commission-based services. In addition to taxation purposes, the HSN code for commission can also be useful for trade purposes.
Goods & Services Tax (GST) | Services ... Top ...
Explanation-This service does not include sale or purchase of goods but includes: Services of commission agents, commodity brokers, and auctioneers and all other traders who negotiate whole sale commercial transactions between buyers and sellers, for a fee or commission Services of electronic whole sale agents and brokers, Services of whole ...
Dec 13, 2022 · When the commission agent/broker supplies any services/goods on behalf of the principal owner, then both are jointly liable to pay the GST on the taxable goods. “One of the key pointers to identify whether a person is an ‘agent’ or ‘principal supplier’ is to follow the document trail of invoicing.
