SCROLLING MARQUEES

R.R.JAGADEESAN, GST PRACTITIONER WELCOMES YOU TO "ABHIVIRTHI" WITH LATEST UPDATES ON GST - GOODS AND SERVICES TAX ACT, IGST - INTEGRATED GOODS AND SERVICES TAX ACT, CGST- CENTRAL GOODS AND SERVICES TAX ACT, SGST - STATE GOODS AND SERVICES TAX ACT, UTGST - UNION TERRITORY GOODS AND SERVICES TAX ACT WITH NOTIFICATIONS, CIRCULARS, FORMATS, GST TAX RATES,PRESS RELEASES, HSN CODES AND OTHER INFORMATION FOR BUSINESS SECTOR AND INDUSTRIAL SECTOR AND SERVICE SECTOR, PRIVATE BANKS, PUBLIC SECTOR BANKS, PUBLIC SECTOR UNDERTAKINGS, STAKEH0LDERS, ACADEMICIANS, STUDENTS AND CHARTERED ACCOUNTANTS AND GST PRACTITIONERS WITH COMPLETE GUIDELINES FOR ONLINE REGISTRATION, ONLINE RETURN FILING, ONLINE PAYMENT AND ONLINE GENERATION OF CERTIFICATES IN GST PORTAL (www.gst.gov.in) As per the Notification No. 78/2020 dated 15th Oct 2020, the tax payers, having Aggregate Annual Turn Over (AATO) above Rs 5 Crore, shall use atleast 6 digit HSN code in the e-Invoices and e-Waybills and other tax payers shall use atleast 4 digit HSN code in E-Invoices and E-Way Bills with effect from 1st October, 2023.-----GSTR-2B WILL BE AVAILABLE IN THE AFTERNOON OF 14TH AS ITS GENERATION COMMENCES AFTER END OF DUE DATE OF GSTR-1/IFF FILING ON 13TH TAXPAYERS MUST FURNISH 4 DIGIT HSN CODES AND 6 DIGIT HSN CODES IF THE AGGREGATE TURNOVER IN THE PRECEDING FINANCIAL YEAR IS BELOW RUPEES 5 CRORES AND ABOVE RUPEES 5 CRORES RESPECTIVELY AND 8 DIGIT HSN CODES IF THE GOODS ARE EXPORTED IRRESPECTIVE OF QUANTUM OF TURNOVER THANK YOU VERY MUCH FOR YOUR VISIT AND BOOKMARKING THIS BLOGSPOT FOR FREQUENT VISITS-----SHARE THE ARTICLES WITH YOUR COLLEAGUES AND FRIENDS USING PRINT FRIENDLY OPTION AVAILABLE ON THE RIGHT SIDE-----TO VIEW MORE ARTICLES PLEASE VISIT AGAIN AND AGAIN. ABHIVIRTHI R.R.JAGADEESAN அபிவிருத்தி R.R.ஜெகதீசன் अभिविरथी R.R.जगदीसन
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Wednesday, August 23, 2017

GST on Advertisements in Print Media in India

GST ON ADVERTISEMENTS IN PRINT MEDIA

The Goods and Services Tax Act, 2017 came into force with effect from 1.7.2017 in India.

The Government of India has clarified about the GST applicability on selling of space for advertisement agency in print media i.e. in Newspapers.

S.No.
Details
Rate of GST
1.
Selling of space for advertisement in print media
5%
2.
Buying of space from the newspaper and selling the same for advertisement to clients on its own account by the advertisement agents by collecting GST from the clients.
5%
3.
Selling of space to clients by advertisement agency on behalf of newspaper and receiving commission (GST will attract on Commission received)
18%
4.
Designing charges or drafting charges paid for the purpose of advertisements in newspapers
18%
5.
If designing or drafting charges are part of any composite supply GST will be applicable
At the rate of principal supply i.e. 5% or 18% as the case may be.


The Press Release link is given below for ready reference.

 http://www.cbic.gov.in/resources//htdocs-cbec/press-release/Selling-Space-advertisement-print-media.pdf


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