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TMI BlogGST LIABILITY ON AUCTION PREMIUM PAID TO STATE GOVERNMENTX X X X Extracts X X X X X X X X Extracts X X X X ..... GST LIABILITY ON AUCTION PREMIUM PAID TO STATE GOVERNMENT X X X X Extracts X X X X X X X X Extracts X X X X ..... NT. PLEASE SUGGEST IS THE ASSESSEE LIABLE TO PAY GST UNDER RCM............. Reply By ABHISHEK TRIPATHI: The Reply: Auction premium is the price that the successful bidder pays in addition to the original/base price to the government. For instance, let's assume premium is 150%, then the successful bidder pays INR 1.5 for every INR 1 (maybe ton or anything else according to the licensing conditi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on). If that is the case as stated above, then Auction Premium is a part of the consideration payable for the Licensing services for right to use minerals including exploration and evaluation falling under Head 997337. [Refer Notification No. 11/2017-Central Tax (Rate) dated 28.06.2017] As 997337 is supplied by Odisha Government to the Assessee (Business Entity) then the liability to pay GST is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the assessee under RCM as envisaged by S.No. 5 of the Notification No. 13/2017- Central Tax (Rate) dated 28.06.2017. Reply By PRADIP MISHRA: The Reply: The mining company has to pay Royalty and GST on reverse charge for the services received from the Government . Should they again be required to pay GST on premium amount for the same service? This looks like collection of GST twice over .< ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... br> Discussion Forum - Knowledge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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