Taxable value vs Total invoice value No. of comments:1 PK Tripathi, Varanasi, 51926 On 12-Oct-2017
*Please solve this puzzle and get me out of this maize.*
1. In fact Some of the total invoice value is paid as brokerage to me.
2. Invoice shows , Taxable value is less than Total invoice value and IGST is calculated on Taxable value.
3. Total invoice value is sum of Taxable value and IGST.
Please clerify me....
1. What is Taxable value, how AMC arrive at it and how is it different from brokerage paid.
2. If I am a GST unregistered, weather AMC deduct GST from Taxable value or Total invoice value.
3. If I am GST registered I have to pay GST on Taxable value or Total invoice value (ie, paid as brokerage ).
Your effort will be highly appreciated.