FREE Account Opening + No Clearing Fees
Loading...

Feedback Message Board



1 Comments

1. Naresh aggarwal   I Like It. |Report Abuse|  Link|August 8, 2017 12:00:57 PMReply
In my opinion , it is main broker who is liable to compulsory registration u/s 24(vii), not the Authorized person,
Because the office of the Authorized person is the extension of the office of the main broker, and all the services are given there are deemed to be services given by the main broker, as client registration, contract notes , money and securities received and delivered by the main broker.
Authorized person are giving services only to the main brokers and receive commission for it.
So Authorized person are liable to register only when his income increased above Rs.20 lacs. and if he is not register, GST is applicable on main broker under RCM, In RCM main broker first himself pay GST and then claim input credit for it and nothing to be deducted from the Authorized person commission.

1.1. Amit N Shah   I Like It. |Report Abuse|  Link|August 9, 2017 5:40:44 PM
I m a Authorized person of recognized stock exchange.having sebi registration . My brokerage is below 20 lacs p.a.
Do I need to take G s t registration?

My broker force me to do registration for GST under section 24 (Vii)
what option I have? Any specific rule/section which give me clear exemption for doing registration?