GST rates
The Goods and Services Tax (GST) in India is a value-added tax applied to the supply of goods and services. The applicable GST rates for commissions are determined based on the nature of the commission and the type of service rendered.
In general, commissions are considered services and are subject to the following GST rates:
- For services with an 18% GST rate, the effective GST rate on commissions is also 18%. This includes services like professional fees, consulting, marketing, and advertising.
- Services with a 12% GST rate attract a 12% effective GST rate on commissions. This category includes IT and telecom services, which are subject to a 12% GST rate.
- Services with a 5% GST rate will have a 5% effective GST rate on commissions. This includes services such as insurance, banking, and financial services, which fall under the 5% GST rate.
For more information visit this site: https://www.gst.gov.in/
It’s important to note that certain types of commissions may be exempt from GST, such as commissions on the export of goods or services. It is advisable to consult with a tax professional or refer to the official GST guidelines for precise information on the applicable GST rates for commissions.
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