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Small brokers who are registered with AMC (MF) or empaneled with MF Distributors, whose Gross Brokerage receipts during the year remains below Rs. 20 lac are compulsorily required to get registered or not
Section 24 (vii) Following categories of persons shall be required to be registered under GST Act:
“Persons who makes taxable supply of goods or services or both on behalf of other taxable persons whether as an agent or otherwise”Now here we required clarity that, whether brokers or sub brokers who are empaneled with MF or Other Agents will fall under above section and are required to get registered under GST Act and threshold limit of Rs. 20 lac will not be available to them?
Small brokers who are registered with AMC (MF) or empaneled with MF Distributors, whose Gross Brokerage receipts during the year remains below Rs. 20 lac are compulsorily required to get registered or not
Section 24 (vii) Following categories of persons shall be required to be registered under GST Act: “Persons who makes taxable supply of goods or services or both on behalf of other taxable persons whether as an agent or otherwise”
Now here we required clarity that, whether brokers or sub brokers who are empaneled with MF or Other Agents will fall under above section and are required to get registered under GST Act and threshold limit of Rs. 20 lac will not be available to them?
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