Scissors on master's earnings, guest lecturer will have to pay hefty tax, other professionals will also be affected

Scissors on master’s earnings, guest lecturer will have to pay hefty tax, other professionals will also be affected

[ad_1]

new Delhi. The Income Tax Department has also put scissors on the pocket of the master who earns as guest lecturer. Now GST will have to be paid on this earning at the rate of 18 percent.

The Karnataka Bench of the Authority for Advance Ruling (AAR) has given this order in a decision. Shriram Gopalkrishna had appealed before the AAR and asked how tax would have to be paid on the income earned as a guest lecturer. Giving its verdict on this, the bench said, any service related to professional or technical or business, if it does not come under the purview of exemption, then it will have to pay 18 percent GST like normal service tax.

Also read – 75 thousand crore tax dues on LIC, what will be the effect on IPO if not paid?

What is the meaning of this order
The AAR has clarified in its order that any service professional whose annual turnover exceeds Rs 20 lakh will also have to pay GST at the rate of 18 per cent on the additional earnings earned by way of guest lectures. This means that these services will also now be charged as GST to be charged as service tax like telecom or other companies.

Also read -Petrol Diesel Prices Today: Petrol-Diesel prices changed in many cities including Noida-Lucknow, know what is the rate in your city

There will be an effect on the income of these people
Tax experts say that after this decision, the earnings of lakhs of people working as freelancers will be affected. Apart from this, people associated with academics, researchers, professors and other such professionals will also have to pay hefty tax. Those doing part time as an instructor or a trainer or mentor will also have to pay 18 per cent GST on their earnings.

Tags:, income tax

[ad_2]

Read Article in हिन्दी

Leave a Comment

Your email address will not be published.