Advertising space in print media to attract 5% GST

GST is certainly a game changing in the Industry with a concept of ‘one nation, one market, one tax’ arrangement. Revenue Collection from Imports Increase by 11% in First 15 Days of GST Implementation. With this the total revenue flow from imports stands at Rs 12,673 crore from July 1-15 as compared to Rs 11,405 crore in the corresponding period in June. GDP will increase by 1.5-2 per cent.

The government on Wednesday notified that the Goods and Services Tax rate for selling space for advertisements in the print media would be 5%. If an advertising agency sells that space to a client, then it too pays 5% GST, but if it sells the space on behalf of the newspaper, it would have to pay 18% GST on the commission charged by the paper....Read More