Dear Experts,
If registered person who is part of state govt, doing Commission business for the facilitation of trading of goods between two parties those parties might be registered or not. In such cases, trading of goods are in some cases fully exempt or fully taxable or partially exempt and partially taxable. How GST will applicable on trading of exempted goods or nil rated goods ? Is there any difference on commission on trading of exempt goods or taxable goods ? What are the GST applicability for the govt entity in this scenario ?
GST Applies to Commission Business as Intermediary Service Under IGST Act 2017, Except for Agricultural Produce A registered individual involved in commission business for facilitating trade between two parties, potentially exempt or taxable, inquires about GST applicability on exempt or nil-rated goods. An expert clarifies that such commission business is considered an intermediary service under IGST Act, 2017, and is liable for GST regardless of the goods' tax status. However, intermediary services related to business facilitators are exempt under specific GST notifications. Another expert seeks clarification on the nature of the business activities and turnover to provide more tailored advice. Additionally, commission services for agricultural produce are noted as GST-exempt. (AI Summary)
Goods and Services Tax - GST
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