GST on selling of ad-space in newspapers, dependent on contractual terms, clarifies Finmin

Govt. clarifies applicability of GST on selling of space for advertisement in print media, says that if advertisement agency works on principal to principal basis, i.e., buys space from the newspaper and sells the same to clients on its own account, it would be liable to pay GST at 5% on the full amount charged from the client; On the other hand, if advertisement agency sells space for advertisement as an agent of the newspaper on commission basis, it would be liable to pay G...