TaxTMI 
TaxTMI 
Applicability of GST RCM on Professional Fees paid to Wholetime Director
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....pplicability of GST RCM on Professional Fees paid to Wholetime Director<br> Query (Issue) Started By: - Kalpesh Shah Dated:- 9-8-2024 Last Reply Date:- 12-8-2024 Goods and Services Tax - GST<br>Got 6 Replies<br>GST<br>Respected Experts and Seniors, My Querry : Whole time Director of a Pvt Ltd Company taking Professional fees from the Company. Company Deducts TDS U/s. 194J of Income Tax Act. Wh....
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....oletime Director is also Registered Under GST Act. Kindly Suggest 1. Whether GST is applicable on RCM basis to company or Forward Charge basis ? 2. Whether director is required to be registered under GST, if his other receipts (other than Above Professional Fees) is below Rs. 20 lakhs ? Thanking you in Advance. Reply By Shilpi Jain: The Reply: 1. Whether GST is applicable on RCM basis to com....
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....pany or Forward Charge basis ? No RCM for the professional serivces. 2. Whether director is required to be registered under GST, if his other receipts (other than Above Professional Fees) is below Rs. 20 lakhs ? If other receipts + prof fees > 20L then liable to register Reply By Kalpesh Shah: The Reply: Thank you for the Reply Shilpi Madam. further Querry on the same point Company is Disc....
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....losing the Professional Fees under Managerial Remuneration. Then what will be the status of GST ? Reply By Padmanathan KV: The Reply: What is the nature of service rendered by the director? Reply By Kalpesh Shah: The Reply: Dear Sir, Nature of Services rendered is Professional Services as a Technical Person. Reply By Padmanathan KV: The Reply: In that case, I agree with the views of Shilpi ....
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....Ma'am. Reply By Kalpesh Shah: The Reply: Thank you for the Reply<br> Discussion Forum - Knowledge Sharing ....