Gst Query


Anonymous
watch_later 3 months ago

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.

 

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1 Answer

GST Payer watch_later 2 months ago
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GST is applicable on labour charges and interest income is exempt.

Further labour charges is services and composition rate is not applicable here.

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