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If the total income of a person from various services including rental income, interest on bank fixed deposits and other professional services exceeds Rs 20 lakh in a year, it will be taxed

  • Last Updated : May 10, 2024, 15:27 IST

If you get any income from Twitter i.e. X, then you will also have to pay GST on that income. According to experts, if you earn from X’s advertising revenue sharing plan, then you will have to pay GST at the rate of 18 percent. Recently the company has started advertising revenue sharing plan for premium customers and verified organizations. To be a part of this, your post should have 15 million impressions and at least 500 followers in the last three months.

In the last few days, many X users have made such tweets in which it has been said to get revenue sharing. According to a report, experts said that if someone gets revenue from platforms like Twitter/X, then he will have to pay GST on it.

He said that if the total income of a person from various services including rental income, interest on bank fixed deposits and other professional services exceeds Rs 20 lakh in a year, it will be taxed. For computing the limit of Rs 20 lakh, such income will be taken into account which are generally exempt from GST. However, GST will not be levied on the exempted income.

AMRG & Associates Senior Partner Rajat Mohan said that if a person earns interest income of Rs 20 lakh annually from banks, and who neither pays GST nor has GST registration. Now, if that person earns any additional taxable income, say Rs 1 lakh, from a platform like Twitter/X, he will have to take a GST registration and the amount above Rs 20 lakh, ie Rs 1 lakh, will attract 18% GST.

Sandeep Jhunjhunwala, partner, Nangia Andersen LLP, said if the content creator earns income from Twitter/X, it would be considered as ‘export of services’ under GST, as Twitter/X is outside India i.e. the place of supply is outside India.

Published: August 14, 2023, 17:48 IST
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