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Taxability for Chit Fund Business, Goods and Services Tax - GST

Issue Id: - 117511
Dated: 24-9-2021
Taxability for Chit Fund Business

  • Contents

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?

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Showing Replies 1 to 2 of 2 Records

1 Dated: 24-9-2021

Amount of commission is to be considered. Chit fund collection belongs to the subscribers and not to Foreman. Foreman does not lend his money.

2 Dated: 25-9-2021
By:- Ganeshan Kalyani

Commission to be considered for threshold.


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