Gst on consultancy fees

GST
1

Hello ma’am.
I have one doubt, can you help me please ?

A private Ltd company exclusively engaged in the business of DERIVATIVES and therefore not liable to registered under GST.

However, If the company pays consultancy fees to an UNREGISTERED person then is it required to get registration under GST ?

Thank you.
Punit

2

Hello @punitrathod

There is no such requirement to get GST registered for availing consultancy services from an unregistered person.

Registration of GST depends on sales turnover and not on purchases.

You can claim the entire amount paid as consultancy fees against income from derivatives and pay tax on net profit.

Thank you.

3

Hello @AkashJhaveri Sir

I was little confused regarding applicability of RCM as per section 9(3) or 9(4).
However these sections covers either only specified goods/ servises or only those cases where taxable services provided by an unregistered person to the Registered person.

Thanks for your confirmation regarding to non applicability of GST in my case.

Thank you

4

Thank you for sharing.