TMI BlogANNUAL SUBSCRIPTIONX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Colleagues, Please discuss the following issue- Whether the annual subscription paid to the professional institutes such as ICAI,ICAI, ICWAI attracts GST? If so what is the rate? Whether the Institute is to raise invoices against all the members? Whether the Institute is pay to tax under revserse charge if the member is not registered under GST? Whether the tax paid on annual subscript ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion can be taken as input tax credit by the members who registered with GST? - Reply By Himansu Sekhar - The Reply = Sir, The annual subscription is subject to tax at 18%. Invoice will be issued. If subscription received from unregistered person, RCM is applicable. The tax paid can be taken as credit. - Reply By KASTURI SETHI - The Reply = Query wise reply is as under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. Yes SAC. 9992. @18%. 2. Yes. 3. Yes. 4. Yes. Also support the view of Sh.Himansu Ji. - Reply By Himansu Sekhar - The Reply = Thank you sir - Reply By Chhatra Jain - The Reply = Dear Sir This is in response to your issues raised: Yes GST is applicable on annual subscription of ICAI, ICSI, ICWAI institutes. ICAI in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... its Head Office Advisory No 1 dated 30 -6-2017 has directed that u/s 7 of CGST Act GST is to be levied effective 1st July 2017. Rate is 18% (CGST 9%+SGST 9%) As ICAI has directed its members to add 18% tax on fees/ subscription there is no question of payment in reverse charge by institute. As Advisory did not asked members to register their GSTIN with it, it is to be inquired from I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nstitutes whether ITC is available or not. And is it going to raise invoices or not? - ANNUAL SUBSCRIPTION - Query Started By: - MARIAPPAN GOVINDARAJAN Dated:- 27-9-2017 Goods and Services Tax - GST - Got 4 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... axTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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