I am frieght commission agent of truck transportation. I pay trucker a sum of rs. by check or cash after deduct my commission and take the transport builty and after that i send the builty to the transporter and then the transporter pay the sum to me by check or cash.
The turnover is over 20 lakhs. Am i liable for G. S. T.? How?
Sir, Ketan Lodhiya is a Commission agent and he want to say that XYZ transport company is hiring a truck from agent and freight is 7000 and agent will pay the same amount after deducting his commission 700 rupees to truck owner. it mean he will get 7000 and will pay 6300. But Transport will issue the cheque in favour of agent and agent will issue the cheque in favor of truck owner. Net Credit into the bank of agent is 7000 and debit is 6300 .He want to ask that if he is placing 300 truck in a financial year and his turnover crossed 20 lac than is he eligible to pat GST and if yes than what is the rate and on which amount on net turnover or on net profit ?
Dear Mr Ketan, as you have mentioned that Rs 20 lacs limit have been crossed, hence you are liable for registration.
Sir, can you provide some information of this how to work on commission agent .
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