Anon
watch_later 28/10/19
Sir,
One person trading in a jewellery business composite sceheme (1% tax rate) registered in gst act.
Same person two other incomes earned.
1.income from labour charges(majuries and repairs works.)
2. Income from interest(money lending business.)
Questions :
1. Above two incomes gst tax applicable or exempted and which rate of tax applicable.
2. A trader purchase of gold from customers(URD persons) RCM applicable from 01.10.2019.
GST is applicable on labour charges and interest income is exempt.
Further labour charges is services and composition rate is not applicable here.
JOIN LARGEST DISCUSSION PLATFORM
Sign up to discuss taxation, accounting and finance topics with experts from all over India.
Join Discussion
