At what rate GST should be charged on advertisement services in print media? Whether input tax credit (ITC) is applicable print media?
What is turnover for an ad agency? (Is it only commission amount?)
How an ad agency claim for refund of 5% GST if it is not registered under GST?
I THINK, PUBLICATIONS GST 5% ON 85 % OF THEIR BILL SO AGENCY WANT PUT 100% TO CLIENTS AND CAN INPUT PUBLICATIONS TAX PAID ALREADY. THAN ONLY CLIENTS CAN TAKE INPUT FOR THE FULL TAX.
OTHERWISE IF AGENTS GO IN PUBLICATIONS NET AMOUNT AND THAN TAX AS OLD SERVICE TAX 18% FOR REST AMOUNTS (IF WE ALLOWED ANY DISCOUNT TO CLIENTS NET COMMISSION ONLY) . THAN WE TAKE INPUT, FROM PUBLICATION GST PAID FOR US MEANS, IT’LL GO LESS THAN 5% TO GOVT. SO IF WE PUT REST OF 15% @ 5% TAX MEANS IS RIGHT WAY. AND NO MULTIPLE TAX WILL COME IN THIS WAY. HOPE OK..?
Hi,
If a person gives advertisement to Newspaper then Newspaper will charge 5% GST on the advertisement amount. But if he book this advertisement through advertising agency then what % of GST advertising agency will charge from client?
Thanks
Selling of space for advertisement in print media is taxed at the rate of 5% with full ITC (Input Tax credit).
Print media such as Newspapers, magazines need to charge tax at 5% on advertisement fee collected by them.
They can take full input tax credit of inward supplies.
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