One of my client is doing job of creation of Short film, Music Vedio & Movie. My Question is

1) What is the SAC code for this Service.

2) What is the tax rate for this service.

3) Can i take ITC on his Expenses.

4) Is there is any tax liablity on income that i recieved from youtube ads on my videos.

5) One of his relative invest 2 Cr in his business from abroad for this i have to pay any GST on that 2 Cr.

Reply—

1) It would fall under SAC 999612 as Motion picture, videotape, television and radio programme production services.

2) Tax rate is 18%

3) ITC is available on purchase of input goods or services for furtherance of business.

4) In GST, if turnover in a financial year is more than Rs. 20 lakhs from supply of services, such person is required to get registered under GST. And under income tax, every kind of income is taxable whether it is regular or not. 

5) No, since it does not cover under ambit of supply, GST will not applicable.