Taxability for Chit Fund Business

[VIGNESH]

Sir for the chit fund organization GST to be Levied on Forman commission,
What will be the Aggregate Turnover, Whether the chit total collection to be considered Or foremen commission to be considered for threshold limit ! What will be the Tax rate?

AI Summary

GST on Chit Funds: Only Foreman Commission, Not Total Collection, Counts Toward GST Threshold Limit A discussion on the taxability of chit fund businesses under the Goods and Services Tax (GST) focused on whether GST should be levied on the foreman commission or the total chit collection. It was clarified that the commission, not the total collection, should be considered for the GST threshold limit, as the collection belongs to the subscribers, not the foreman. Both responses emphasized that the foreman's commission is the relevant amount for determining the GST obligations.