Dear Sir/Madam
I propose to take up a job (after retirement) as a consultant to an insurance broker. I will be getting a fixed salary and also variable pay depending on the business I bring in. What are the GST implications for me in this profile. Do I need to register for GST and file returns ?
Would be obliged if you can advise in details since I dont have knowledge about GST rules.
Retired Consultant Must Register for GST if Earnings Exceed 20 Lakhs; 18% Tax on Consultancy Services An individual planning to work as a consultant for an insurance broker after retirement inquired about the GST implications of receiving a fixed salary and variable pay. Responses indicated that consultancy is a taxable service under GST, with a threshold exemption of 20 lakhs. If the individual's turnover exceeds this limit, they must register for GST and comply with the 18% tax rate applicable to consultancy services. The nature of the appointment, not being classified as an employee, subjects the individual to these GST requirements. (AI Summary)
TaxTMI 
TaxTMI 
