Is GST applicable on advocate fees?

Is GST applicable to advocates?

Advocates has privilege of not to pay GST on their output supply, while the tax on their supplies has to be paid by recipient under Reverse Charge Mechanism (RCM).

Is GST applicable on lawyer fees?

There is an exemption from the payment of GST on Lawyer fees and Law Firm fees. Only if they are providing their services to any person and not a business entity. In the case of business entities, the exemption extends to those: having a turnover up to Rs 20 lakh (general category states) and.

Is RCM applicable on advocate fees?

Yes, RCM is applicable on advocate fees. … Yes you are liable to pay GST on RCM on monthly fees paid to advocate. Legal services means advice or consultancy in any branch of law. Yes you can shown in income tax return.

Is there GST on legal services?

GST is chargeable on the legal services rendered by any advocate practicing on an individual basis or senior advocates or a firm of advocates to a business corporation with a yearly turnover up to Rs 20 lakhs.

Do advocates pay income tax?

Income from Practice

Many of the lawyers opt to practice law. … Under the scheme, professionals can file their return declaring 50% of their gross receipts as income (if the professional income is upto Rs. 50 lakhs), and after deducting section 80 deductions, professionals need to pay tax on balance total income.

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Does advocate pay tax?

As per law, advocates are exempt from paying service tax for services rendered to individuals.

Which services are exempted GST?

Exempt services include cultivation, harvesting, supply of farm labor, fumigation, packaging, renting or leasing of machinery for agricultural purposes, warehouse activities, and services by an Agricultural Produce Marketing Committee or Board that is provided by an agent for the sale or purchase of agricultural …

Which service is under RCM in GST?

List of services under RCM in GST

Nature of supply of services Supplier of services
Services supplied by a person located in non-taxable territory by way of transportation of goods by vessel from a place outside India up to the customs station of clearance in India A person located in the non-taxable territory

What is the GST rate under RCM?

GST rate on GTA Services under RCM – 12% or 5%?

Chapter / Section / Heading Description of Service IGST Rate (%)
Heading 9965 (Goods transport services) (iii) Services of goods transport agency (GTA) in relation to transportation of goods (including used household goods for personal use 12