Goods and Services Tax

The proportion of value attributable to different States or Union territories, in the case of supply of advertisement services to the Central Government, a State Government, a statutory body or a local authority.

Rule 3 – Rules – IGST Rules – Goods and Services Tax – Rule 3 – 1[3. The proportion of value attributable to different States or Union territories, in the case of supply of advertisement services to the Central Government, a State Government, a statutory body or a local authority, under sub section (14) of…

The 24th GST Council Meeting held today through video conferencing decides that Inter-State e-way Bill to be made compulsory from 1st of February, 2018;

Goods and Services Tax – GST – Dated:- 16-12-2017 – The 24th GST Council Meeting held today through video conferencing decides that Inter-State e-way Bill to be made compulsory from 1st of February, 2018; The System to be ready by 16th of January, 2018; The Uniform System of e-way Bill for Inter-State as well as…

Frequently Asked Questions – GST

Goods and Services Tax – GST – Dated:- 16-12-2017 – Q. Whether notification 66/2017 central dated 14.11.2017 is applicable for all assesses or for those only who are eligible for compounding scheme but not opted for the same? Ans. It is applicable to all registered persons who did not opt for composition levy under Section…

Time Limit for availing GST-ITC

Goods and Services Tax – Started By: – SAFETAB LIFESCIENCE – Dated:- 16-12-2017 Last Replied Date:- 16-12-2017 – Dear Team, Please inform us the maximum time limit for availing GST-ITC….. – Reply By Somil Bhansali – The Reply = As per section 16(4) registered person shall not be entitled to take input tax credit in…

CASH DISCOUNT/TRADE DISCOUNT, CREDIT NOTE / DEBIT NOTE

Goods and Services Tax – Started By: – SAFETAB LIFESCIENCE – Dated:- 16-12-2017 Last Replied Date:- 16-12-2017 – Dear Team, What is the major difference from Cash Discount and Trade Discount. We are giving discount to our customers for making payment prior to agreed due date / credit periods. Discount is not worked on the…

Logistic vendor debit

Goods and Services Tax – Started By: – Bhushan Velhal – Dated:- 16-12-2017 Last Replied Date:- 16-12-2017 – Dear Sir,Good Morning.Logistic Transporter was missing of material from his custody, now we need to debit to Logistic Company Invoice Amount (Material + GST) & poor service. Pls. suggest SAC/HSN code & percentage of GST debit to…

Free replacement

Goods and Services Tax – Started By: – MohanLal tiwari – Dated:- 15-12-2017 Last Replied Date:- 16-12-2017 – Dear Panelist,We have supplied goods during Pre-GST regime which got rejected and needs to be replaced free of charge before lifting back the rejected goods.The customer needs Invoice copy for free replacement to issue way bill. –…

RCM PAYABLE ON IMPORT OF SERVICES OR NOT?

Goods and Services Tax – Started By: – Kusalava InternationalLimited – Dated:- 15-12-2017 Last Replied Date:- 15-12-2017 – Reply By CS SANJAY MALHOTRA – The Reply = Yes, please refer to Section 13 o = = = = = = = = Plain text (Extract) onlyFor full text:-Visit the Source = = = = =…

GST PAYABLE UNDER RCM

Goods and Services Tax – Started By: – SAFETAB LIFESCIENCE – Dated:- 15-12-2017 Last Replied Date:- 16-12-2017 – Dear Team, We came to understand that RCM payable by the receiver (buyer) for the supply/services received from URD has been deferred till 31.03.2018. Whether all the supplies received from 01.07.2017 is fully exempted or from the…

REFUND OF ACCUMULATED GST-ITC

Goods and Services Tax – Started By: – SAFETAB LIFESCIENCE – Dated:- 15-12-2017 Last Replied Date:- 15-12-2017 – Dear Team, What is the proceedure to get refund of excess/accumulated GST-ITC ?Every month, the closing balance of ITC is gradually increasing in Electronic Credit Ledger……We want refund since our fund is unnecessarily blocked and we need…

Balance of Cenvat on input Raw Material

Goods and Services Tax – Started By: – HP Soni – Dated:- 15-12-2017 Last Replied Date:- 15-12-2017 – Dear Sir, We have already submitted Excise Return of Excise for June 17. Some cenvat credit invoices prior to June 17 received in July-August 17. Where can we show these ITC in TRAN1. Kindly advice coloumn no…

GST RATE RETROSPECTIVE RATE INCREASE

Goods and Services Tax – Started By: – ANIL NAIR – Dated:- 15-12-2017 Last Replied Date:- 15-12-2017 – Dear Sir,What will be the GST % for Su.Invoice/Debit Note issued against retrospective rate increase w.e.f 01.07.17 to 14.11.17 for the items whose GST % has been changed from 28 to 18%. (HSN 4016- vulcanized rubber parts)Thanks…

Zero Rated

Goods and Services Tax – Started By: – Manaram C – Dated:- 15-12-2017 Last Replied Date:- 15-12-2017 – We are looking the LUT certificate would somebody help us. – Reply By KASTURI SETHI – The Reply = LUT is not certificate. LUT stands for Letter of Undertaking and it is i in lieu of executing…

Medical bills and reimbursement expenses

Goods and Services Tax – Started By: – pradeep kumar – Dated:- 15-12-2017 Last Replied Date:- 15-12-2017 – Hi experts,hope all good.. my query is our client in the business of hotel business,medical reimbursement expense,medical check bills, lic of some staff and md,gm etc..house rent of managers will come under gst or not… where i…

GST UPDATE ON PROOF OF EXPORT

Goods and Services Tax – GST – By: – Pradeep Jain – Dated:- 15-12-2017 – Under Central Excise laws, every exporter had to submit proof of export for export of excisable goods done without payment of duty to Range Officer within 6 months from the date of clearance of goods from the factory of production.…

Input Tax Credit on Retention Money

Goods and Services Tax – GST – By: – Lalgudi Karthikeyan – Dated:- 15-12-2017 – With reference to the article published in these columns on the above subject it is felt that the approach should begin with questioning the necessity of the second proviso under Section 16(2). It has been rightly pointed out by the…

OPERATION OF ANTI PROFITEERING CLAUSE IN GST

Goods and Services Tax – GST – By: – Dr. Sanjiv Agarwal – Dated:- 15-12-2017 – The provisions on anti-profiteering are contained in the GST law as per following provisions: CGST Act, 2017 Section 171 on Anti-profiteering measures. IGST Act, 2017 Section 20 which stipulate that provisions of the GST Act, 2017 shall apply mutatis…

Refund of Tax paid on supply of Service to SEZ

Goods and Services Tax – Started By: – Alkesh Jani – Dated:- 14-12-2017 Last Replied Date:- 16-12-2017 – Sir,Please let me know that for supply of services to SEZ on payment of tax. the Proviso says that (b) supplier of services along with such evidence regarding receipt of services for authorised operations as endorsed by…

TRADE DISCOUNT AFTER SALES / DEBIT NOTE / CREDIT NOTES

Goods and Services Tax – Started By: – SAFETAB LIFESCIENCE – Dated:- 14-12-2017 Last Replied Date:- 14-12-2017 – Respected Sirs, We are receiving bills for Raw Materials supply from GST registered persons with GST charged bills. After receipt at our end, we found some discrepancies in their GST bill such as Insurance, Freight and Price…

Frequently Asked Questions – GST

Goods and Services Tax – GST – Dated:- 14-12-2017 – Q. I am a service provider and my turnover is below ₹ 1.5 crore. Am I eligible to submit GSTR-1 quarterly? I am not able to understand whether notification 57/2017 applies to service providers as well. Ans. Yes, Applicable Q. If a taxable person only…

REGARDING APPLICABILITY OF GST

Goods and Services Tax – Started By: – SANJEEV JADHAV – Dated:- 14-12-2017 Last Replied Date:- 15-12-2017 – Dear Sirs, Ours is foundry and manufacturing Alloy and Stainless Steel Castings falling under HSN 73259920 & 73259930. We are also making export to various countries. I have some queries regarding GST which detailed below:-1. We are…

Registration by service providers covered under RCM

Goods and Services Tax – Started By: – Archna Gupta – Dated:- 14-12-2017 Last Replied Date:- 15-12-2017 – If service providers such as Advocates, GTA etc. providing services to unregistered persons (business services not personal). Who will be required to pay GST? Please quote relevant section. – Reply By Somil Bhansali – The Reply =…

Pre GST period Credit note adjustment in Post GST

Goods and Services Tax – Started By: – Indian Commerce – Dated:- 14-12-2017 – Dear Sir, We had raised a tax Invoice on 12th June 2017 to one our client for the Works Contract services completed during the Pre-GST regime with Service Tax and VAT. However, our client has given their approval in the month…