I would like clarification, whether a fund collected annually ,and spent on the benificiaries;which amount to roughly Rs 50 to 60 lakhs for our regular get-togethers be subjected to GST authorities for collection of any applicable tax ,if any and the accounting details be made available to every participating members . However I am not aware which government office is entrusted or responsible for such fund audit. more
1. your organization which collects money and runs get to gathers which is service , so you are supposed to pay service tax now called GST. 2. To pay GST you are supposed to get your organization registered . 3. Then you are supposed to charge GST from every subscriber & deposit it to Government. 4. In case you are keeping this money in fixed deposit and is earning interest you are supposed to pay income tax also. more
I do not know, where you are located. The best source of guidance for you is the GST SEVA KENDRA located at your place. GST consultants or GST practitioners may not be able to give you a correct answer.Further, you have not clearly specified the exact nature of your purpose of collection of such enormous amount. M.Balachandran On Thu, Dec 19, 2019 at 11:04 AM Vadakke Raman wrote: > more
If you are a Registered dealer then you must have to collect GST and pay to the Government. I am unsure about your Registration status under GST Law. more
In continuation my question would be , are companies allowed to take advantage of RCM to employee incentives like dinners ; annual off-sites and such conferences . This an expense done for employee welfare and not business development Right ?? as we have noticed many companies demand for discount on GST raised / mentioned on the invoices . Clarrity on this concern will help more
If the fund is collected from members only and spent for members only.... there is no GST.,becasue of the [princle of Mutuality ...one cannot render service to onesself more
My cousin’s friend runs a local bakery in Goa. He accepts only CASH. No UPI/CC/Debit Card-- nothing! Logic: if he accepts anything in 'white', he will pay around...
Interesting how poor people and commoners pay GST on pretty much everything they buy from biscuits to namkeen, milk to grocery And rich buys iPhone, Luxury Cars, etc as Business Expenses...
Cut & polished diamonds are charged 1.5% GST. Flour & curd are charged 5% GST. Diamond walas can fund politics but aate dahi doodh walas can’t?? Plea...
The GST Council has recommended 5% GST on dairy items like pre- packed, pre-labeled curd, lassi and butter milk and increasing GST on dairy machinery and milking machines from 12% to 18%. This move...
Bicycle will attract a GST rate of 12%, but diamonds will attract only 0.25%. At a time when people aren't able to afford petrol & the poor are forced to commute on cycles, the govt charges 12%...
The Private tutors and coaching classes runners should be registered by the local authorities like Panchayats, municipalities and metros through simple forms with names, addresses of operators, the...
Rs6.14 lakh crore as input tax credit (ITC) remains blocked under Rule 86A by the tax authorities without any due process being followed. Attached is data by state. Can LocalCircles take up this is...
Dear All, I live in an affordable housing society under PMAY in Gurgaon for the past two years. Maintenance is supposed to be free for five years. Builder has increased CAM charges twic...
The leaders of the Govt, the babus of the Govt are very clueless LocalCircles and we have not done enough to wake up these people. Read below: 5% GST on COVID vaccine. 28% GST...
What's the most taxed product in India? It's not cigarettes, a can of aerated beverage or a bottle of whisky or beer. It's an AUTOMOBILE. It attracts the highest GST rate of 28% & a cess o...
By Sunita Varghese
/
Share
Sign Petition
Enter your email and mobile number and we will send you the instructions