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Seminar at Hyderabad on 14th June
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Commodities Participant Association of India
Northern Region

Takeaways for Members

GST Transition: Major Issues

Commodities Participant Association of India (CPAI), hosted a seminar for members on 6th June 2017 at Constitution Club, New Delhi where more than 300 Members & their Officials were present.

Members raised many queries in the matter and the following were the major issues which we have compiled for being shared with members for their benefit.

S.No. Query Response
1 Are we required to get registered in all states where we have offices. The state in which the Dealing Office which are maintained by Broker as their own office are to be registered.
2. Whether Authorised Persons(APs) earlier known as Sub Broker need to get registered:- 
  • If Broker has a dealing office in the state and AP raises an invoice to that office then he may not register if his Commission Income is lower than 20 Lacs (10 Lacs for Hilly and North eastern states)
  • If Broker does not have a dealing office every AP needs to be registered as the supply of services by AP are Inter-state and basic exemption limit do not apply.
3.  Place of Supply If there is a specific dealing office for a particular client then that office, else the place of signing of contract notes.
4.  Input Service Distribution – Branch Costs If any branch does not have revenue sources of its own while contribute to the supply of services by Head office as inputs, the same can be billed to Head Office under Input Service Distribution.
5. Place of Supply - NRI Clients The address of Service Recipient in case of NRI Clients shall be there local correspondence address. The same shall be important for determining whether it shall be CGST/SGST or IGST Billing.

Click Here Download Audio of GST Seminar of CPAI