TaxTMI 
TaxTMI 
IN BANKING JEWEL LOAN - APPRAISER FEE RELATED
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....N BANKING JEWEL LOAN - APPRAISER FEE RELATED<br> Query (Issue) Started By: - VEL MURUGAN Dated:- 6-11-2019 Last Reply Date:- 8-11-2019 Goods and Services Tax - GST<br>Got 2 Replies<br>GST<br>SIR IM WORKING AS A GOLD APPRAISER IN TAMILNADU STATE APEX CO-OPERATIVE BANK MY WORK IS COMMISSION BASIS BANK COLLECT APPRAISER CHARGES FROM CUSTOMERS. THAT CHARGES( APPRAISER FEE) IS TAXABLE UNDER GST OR ....
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....NOT FOR THE LAST FEW YEARS THEY COLLECT GST. THAT IS CORRECT OR NOT ANOTHER ? ON MY SERVICE IS TAXABLE UNDER GST OR NOT BANK COLLECT ₹ 100( INCLUDE GST) FROM CUSTOMER THEN MY SHARE 80% BANK SHARE 20% BUT I RECEIVED ONLY 67% . THIS IS CORRECT OR NOT PLEASE REPLY FOR MY PROBLEM THANK YOU SIR G VELMURUGAN Reply By KASTURI SETHI: The Reply: The bank is not on right track. Suppose you a....
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....re 'A' (Service Provider), Bank is service receiver as 'B' and ultimate consumer is 'C'. C is B's customer and not A's. A has nothing to do with C. C is your customer's customer. B is playing the role of intermediary. Since A is supplying service to B, A is to collect GST from B and deposit with the Govt. It is A's duty and here the situation reverse. Why B....
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.... is making payment to you after deduction of GST ? It is not TDS or TCS. An amount of ₹ 80/- includes GST and you get ₹ 67/- after deduction of GST of ₹ 13/- (@18%). Your service is taxable. You can avail threshold exemption of ₹ 20 lakhs. Also go through the following case law pertaining to Service Tax regime. 2008 (12) S.T.R. 376 (Tri. - Chennai) = 2008 (7) TMI 147 - CE....
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....STAT, CHENNAI PUDUKOTTAI DISTRICT CENTRAL CO-OP. BANK LTD. Versus COMMISSIONER OF C. EX., TRICHY Reply By KASTURI SETHI: The Reply: The amount received from the bank should not be called 'commission'.<br> Discussion Forum - Knowledge Sharing ....