Author: admin_gst

Goods and Services Tax – Started By: – Dinesh Biyanee – Dated:- 15-8-2017 Last Replied Date:- 16-8-2017 – In the rates of services of GTA it is written that 5% with no ITC. and 12% with ITC if on forward chargecan we avail credit if it is 5% on RCM – Reply By HimansuSekhar Sha – The Reply = You can get the ITC, but the itc on the inputs, capital goods, input services used for providing the GTA services is not allowable. This is the meaning of the phrase ,'with no ITC' – Reply By THYAGARAJAN KALYANASUNDARAM – The Reply = Dear sir, As per sec 9(3) of CGST act, it is mandatory to pay the tax on GTA only by the recipient in case of registered person under GST act. Then how do we define GTA @ 5%/12% and the tax @12% discharge by the rec

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Goods and Services Tax – Started By: – Lakshmi subramanian – Dated:- 15-8-2017 Last Replied Date:- 17-8-2017 – Dear ExpertsGreat DayAm pleased to enter into this August Forum on this Independence Day. Am practicing Chartered Accountant and am giving below the short notes relating to the captioned title above pertaining to my client.Short Notes on Title aboveMy client is incorporated abroad and having branch in India as per Permission granted by RBI . The services include submissions of manifests to the customs on behalf of airlines through online by using the web portal of the client and Indian customs.. The branch raises the invoices on the airlines in India with applicable service tax and adhere the service tax compliance. Few airlines are having global contract and straightaway making remittance in its HQ. Branch raises invoice on those cases to HQ with service tax and adhere the service tax compliance. This is on the background that services rendered and consumed in India and mere

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lies on invoices raised by branch on HQ. Ans: If the registered office or branch of the Airlines and the branch of your client is located in the same state then CGST and SGST rate (9%+9%) will apply. If the registered office or branch of the Airlines and the branch of your client is located in the different state then IGST @ 18% will apply. If the Air Lines do not have an office in India and you are raising the invoice on their office located in non-taxable territory, then The Air Lines has to follow the provisions of rule 13 of GST Rules, 2017. Normally the Air Lines which are registered in non-taxable territory will have a branch office in India. Therefore I require further details regarding this. Query No.02 HQ is not having GSTIN. The invoicing amount crosses the basic exemption limit. How to upload GSTR1 without GSTIN. Ans: Since your client has a branch office in India then the branch office has to get registered under GST Act since the branch office will have a PAN. Since this b

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icult to be ascertained. The HQ address is in abroad no GSTIN where as its branch is having GSTIN. Trust the above additional information will be helpful to arrive the conclusion whether CGST 9% +SGST9% or IGST9% is applicable. Further to your reply on query 02. The branch has registered with GSTIN and will upload GSTR1. Since the HQ is not having GSTIN, how we can upload the invoices? is it correct to upload the invoices as unregistered dealer? Further to your reply on query 03, Yes, agreed that there won't be any issue in taking inputs credits but am waiting response for q1 & q2 after submitting the additional information. We need to revisit this after having clarity on query 1 & 2 – Reply By RAMESH PRAJAPATI – The Reply = 1) Contract of supply of service is between your client's HO and Airlines. Both are outside India.2) Your client is rendering services in India and have branch office registered under GST in India.3) Airlines also has branch office in India for doin

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s of the address in interstate and intra state are difficult to be ascertained. The HQ address is in abroad no GSTIN where as its branch is having GSTIN. Trust the above additional information will be helpful to arrive at the conclusion whether CGST 9% +SGST9% or IGST9% is applicable. Since both the receiver and provider of service are having branch offices in the taxable territory and are duly registered with the tax authorities the GST is payable by your client s branch office as already suggested. Further to your reply on query 02. The branch has registered with GSTIN and will upload GSTR1. Since the HQ is not having GSTIN, how we can upload the invoices? is it correct to upload the invoices as unregistered dealer? Since your client s branch office is registered with the tax authorities they have to upload GSTR1. Your HQ need not get registered since they are receiving payment. As per CGST Act, 2017 the taxable person is one who is registered under the Act. In the invoice it is suff

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Goods and Services Tax – Started By: – RameshBabu Kari – Dated:- 15-8-2017 Last Replied Date:- 16-8-2017 – Dear Experts,GST on Hamali charges at what rate ? suppose in a truck goods worth 500000 are being transported( Having diff rated goods in truck) by a trader and hamali charges are 8000..so at what rate GST shall be paid on Hamali Charges. Does it attracts RCM ? – Reply By KASTURI SETHI – The Reply = What is English word for hamali ? – Reply By RameshBabu Kari – The Reply = Hamali is labor

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Goods and Services Tax – Started By: – THYAGARAJAN KALYANASUNDARAM – Dated:- 14-8-2017 Last Replied Date:- 14-8-2017 – Dear expert, I have a doubt regarding adjustment of taxes. Suppose if I travel to other states (Delhi) and stays in hotel, as per the GST they will charge only sgst and cgst since where the immovable property is located. In this scenario, Can I take the credit and adjust sgst and cgst in my gst return(tamilnadu) . If not which section says? Thanks in advance. – Reply By Himansu

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Goods and Services Tax – Started By: – DURAISAMY ANANDHAN – Dated:- 14-8-2017 Last Replied Date:- 15-8-2017 – My client is having a registered office in Tamilnadu , providing earth excavation services to a BIHAR basesd company at mining located in CHATISKAR, WEST BENGAL and ORRISSA. My doubt is GST taken at Tamilnadu is enough? or GST should take in all the three states? – Reply By HimansuSekhar Sha – The Reply = Supplier of service is at odisha and west Bengal since the entity will have establ

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Goods and Services Tax – Started By: – MohanLal tiwari – Dated:- 14-8-2017 Last Replied Date:- 15-8-2017 – Please advise for applicability of GST on advance payment from foreign buyers. Please consider that we are charging IGST in our Export Invoice while exporting the goods. – Reply By RAMESH PRAJAPATI – The Reply = Exports are classified as zero rated supply. So GST is not required to be paid on advances. At time of export you can clear goods on payment of IGST or without payment of IGST. It is your choice. There is no revenue loss to the Government. – Reply By MohanLal tiwari – The Reply = Thanks Mr Rajput. Do we need to issue Advance Receipt Voucher for advance from foreign buyers. – Reply By Rajagopalan Ranganathan – The Reply = Sir,

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tax (central tax, State tax, integrated tax, Union territory tax or cess); (h) amount of tax charged in respect of taxable goods or services (central tax, State tax, integrated tax, Union territory tax or cess); (i) place of supply along with the name of State and its code, in case of a supply in the course of inter-State trade or commerce; (j) whether the tax is payable on reverse charge basis; and (k) signature or digital signature of the supplier or his authorised representative: Provided that where at the time of receipt of advance,- (i) the rate of tax is not determinable, the tax shall be paid at the rate of eighteen per cent.; (ii) the nature of supply is not determinable, the same shall be treated as inter-State supply. This rule d

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Goods and Services Tax – Started By: – SURYAKANT MITHBAVKAR – Dated:- 14-8-2017 Last Replied Date:- 22-8-2017 – If we have paid commission to unregistered person can we do RCM and avail input credit. is it allow or not. – Reply By RAMESH PRAJAPATI – The Reply = Yes, tax is payable on reverse charge basis. ITC is allowed if service is availed in the course or furtherance of taxable business. – Reply By HimansuSekhar Sha – The Reply = Correct view. – Reply By brijmohan mor – The Reply = As per se

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Goods and Services Tax – Started By: – Sanjeev Sharma – Dated:- 14-8-2017 Last Replied Date:- 14-8-2017 – A UK based company planning to set up a hotel/ service apartments in India. An Indian Company is providing following services to this UK Company: Advice on feasibility study, setting up, owning and coordinating the development, operation and management of mid-scale lodging facilities including service apartment, which will be setup in India by foreign company. Where will the place of supply

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Goods and Services Tax – Started By: – THYAGARAJAN KALYANASUNDARAM – Dated:- 14-8-2017 Last Replied Date:- 14-8-2017 – Dear expert, We have to declare all expenses which is booked as expenses in profit & loss account monthly basis as follows 1. Procurement of goods / services from registered person 2. Procurement of goods / services from unregistered person3. Even if all the expenses should declare in the return which is unrelated to GST tax? Example: Salary, electricity, interest,etc.Thanks in advance. – Reply By KASTURI SETHI – The Reply = As per Section 15 of CGST Act, all incidental expenses are to be included in the transactional value for the purpose of payment of GST. Salary is not incidental expense. Salary is already accounted

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Goods and Services Tax – GST – By: – KIRTIKUMAR PUROHIT – Dated:- 14-8-2017 Last Replied Date:- 20-8-2017 – Expenses Under GST Regime Rate of tax under GST on expenses debited to Trading Profit & Loss A/c Sr. No Nature of Expense Rate of Tax Whether registered supplier will levy tax Reverse Charge(If supply is unregistered) Whether Eligible for Input Credit 1 Salaray, wages & bonus paid to employee 0% No No No 2 Electricity bill 0% No No No 3 Water Charges/ Plain Water 0% No No No 4 Bank Interest 0% No No No 5 Professional Tax 0% No No No 6 BMC Tax 0% No No No 7 Building / Property Tax 0% No No No 8 Rent Deposits 0% No No No 9 Other Deposits 0% No No No 10 Petrol / Disel/ CNG/Kerosene Expenses (Motor Spirit) 0% No No No 11 Liquor Expenses 0% No No No 12 Registration Fees (ROF / ROC / RTO etc) 0% No No No 13 Bad Debt 0% No No No 14 Donation 0% No No No 15 Labour Welfare Contribution to Goverment 0% No No No 16 Fine & Penalities 0% No No No 17 Conveyance Expense – Non AC Tax

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Yes Yes Yes 33 Food & Beverages Expense (AC restaurant) 18% Yes Yes No 34 Mineral water 18% Yes Yes Yes 35 Truck/ Tempo Hire Charges 18% Yes Yes Yes 36 Club & Membership fees 18% Yes Yes No 37 Advertisement Charges / Hoarding / Magazine / News Papers / Media 18% Yes Yes Yes 38 AMC Charges 18% Yes Yes Yes 39 Bank Charges – Service charges recovered 18% Yes No Yes 40 Broker Fee & Charges 18% Yes Yes Yes 41 Cancellation Charges 18% Yes Yes Yes 42 Extended Warranty 18% Yes Yes Yes 43 House Keeping Charges 18% Yes Yes Yes 44 Insurance paid on goods & vechile 18% Yes Yes Yes 45 Health Insurance 18% Yes No No 46 Payment to advocate 18% No Yes Yes 47 Loading & Unloading – others/ Hamali 18% Yes Yes Yes 48 Training Expense 18% Yes Yes Yes 49 Payment to Post office for Speed post & parcel post 18% No Yes Yes 50 Postage and Courier Charges 18% Yes Yes Yes 51 Printing & Stationery (Flex Printing, Broad Printing, Notice Printing) 18% Yes Yes Yes 52 Recruitment Expenses

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otel, lodge Above ₹ 7500/- 28% Yes Yes Yes 70 Travelling Expenses International 28% Yes Yes No 71 Amusement Park/ Theatre Ticket 28% Yes Yes Yes 72 Cold drink 40% Yes Yes No 73 Repairs & maintainance Charges if it has not resulted into immovable property 18% / 28% Yes Yes Yes 74 Electrical Fittings 18% / 28% Yes Yes No 75 Staff Uniform Expenses 5% / 12% Yes Yes Yes 76 Packing material & Packing Charges 5%/ 12% 18% Yes Yes Yes 77 Plant & Machinery Actual Rate Yes Yes Refer Note 3 78 Furniture & Fixture Yes Yes Refer Note 3 79 Motor Car Yes Yes No 80 Building Yes Yes No 81 Office Equipment including Computer, Software & Hardware Yes Yes Refer Note 3 82 Free Gift given to staff (Exempt upto ₹ 50000/- per staff p.a) Applicable Rate Yes Yes No 83 Free Gift given to staff (Above ₹ 50000/- per staff p.a) Yes Yes Yes 84 Divali/ New year Gift purchased & debited to P & L Yes Yes Yes Notes: 1) If repair & maintainance expenses resulted into immov

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or services or both debited to Trading A/c or expenses debited to Profit & Loss A/c or purchase of any asset obtained from unregistered suppliers is less than ₹ 5000/- in a day, then tax is not required to be paid for such inward supplies by the receiptent for that particular day. 7) Details of all purchase of goods or services debited to Trading A/c or purchase of any fixed asset are required to be submitted in GST return whether purchased from registered person or unregistered person or from composition dealer. 8) However, if any expense items are purchased from unregistered supplier & escape the payment of tax in view of Notifcation No.8/2017 dated 28/06/17 then same are not required to be submitted in GST return. – Reply By Alok Kumar – The Reply = Dear Mr. Purohit , a very good compilation , It will help the consultants and Industry alike in their tax planningThanks,Alok Kumar – Reply By KASTURI SETHI – The Reply = Par excellence work indeed. I have saved the same as

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Customs – 07/2017 – Dated:- 14-8-2017 – Government of India Ministry of Finance, Department of Revenue Office of the Commissioner of Customs (Preventive) Custom House, 110 M. G. Road, Shillong – 793001 FACILITY No. 07/2017 Dated Shillong the 14th August, 2017 Subject: Procedure for grant of self-sealing permission to the exporters in GST regime consequent to CBEC Circular No.26/2017- Customs dated 01.07.2017 and Public Notice No.04/2017 dated 04.07.2017 Attention of the Importers, Exporters General Trade Custodians, Customs Brokers Inland Container Depots (ICDs) of Shillong Customs (Prev) Commissionerate is invited to this office Public Notice No.04/2017 dated 04.07.2017. 2. Board has in the past issued various circulars both on the Excise and Customs side on the issue of sealing containers. At present, there are three categories of containers which arrive at ports/lCDs/Customs station: a. Containers stuffed at factory premises or warehouse under self-sealing procedure. b. Containers

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s prescribed as follows: 4.1 The exporter shall:- 4.1.1 inform jurisdictional Superintendent of Customs about their arrangement to follow self- sealing procedure to export goods from the factory premises or warehouse at least 15 days before the first planned export along with necessary information as per format enclosed as Annexure- A ; 4.1.2 be registered under the GST and should be filling GSTR1 and GSTR2. 4.1.3 submit therewith a list of persons, along with their specimen signature (maximum three), who are authorized on behalf of the exporter to do the self-sealing and self -certification as per format enclosed as Annexure- B'. 4.1.4 submit copies of their identity proof (with photograph) and proof of address of each individual authorized signatory attested by the exporter along with a certificate of signature verification from any of the Scheduled Commercial Banks. (Copies of bank Pass Book/Aadhar number would serve the purpose of proof of identity & address); 4.1.5 submit

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e exporter shall intimate the shipment/self-sealing particulars to the jurisdictional Superintendent of Customs three days in advance to the planned stuffing as per the format enclosed as Annexure D . The intimation, in this regard shall clearly mention the place and address of the approved premises, description of export goods and whether or not any incentive is being claimed. 9. The self- sealed goods are to be transported by the exporter along with the Check-list of the Shipping Bill, packing List, Invoice, duly filled in Annexure C , and any other list of the required relevant document for further processing by Customs including seal verification granting of LED and generation of the Shipping Bill for the consignment at the concerned Customs station. 10. Transport document for movement of self-sealed container by an exporter from factory or warehouse shall be same as the transport document prescribed under the GST Laws. In the case of an exporter who is not a GST registrant, way bi

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check for tampering if any enroute. However, random or intelligence based selection of such containers for examination/scanning would continue. 14. Examination norms as prescribed under Circular No.6/2002-Cus., dated 23.01.2002 (as amended) shall be applicable for all such consignments. 15. It is proposed to replace the bottle seals with Electronic seals. The exporter shall seal the container with the tamper proof electronic seal of standard specification. The electronic seal should have a unique number which should be declared in the Shipping Bill. Before sealing the container, the exporter shall feed the data such as name of the exporter, IEC Code, GSTIN number, description of the goods, tax invoice number, name of the authorized signatory (for affixing the e-seal and Shipping Bill number in the electronic seal. Thereafter, container shall be sealed with the same electronic seal before leaving the premises. 16. However, as a measure of facilitation, the existing practice of sealing

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GST – States – J.21011/1/2017-TAX/Vol-II – Dated:- 14-8-2017 – NOTIFICATION No. J. 21011/1/2017-TAX/Vol-II, the 14th August, 2017. In exercise of the powers conferred by section 164 of the Mizoram Goods and Services Tax Act, 2017 (6 of 2017), the Governor of Mizoram, on the recommendations of the Council, hereby notifies the Mizoram Goods and Services Tax (Fourth Amendment) Rules, 2017 which shall come into force on the date of publication in the Official Gazette. Vanlal Chhuanga, Commr. & Secretary to the Govt. of Mizoram, Taxation Department. THE MIZORAM GOODS AND SERVICES TAX (FOURTH AMENDMENT) RULES, 2017 In exercise of the powers conferred by section 164 of the Mizoram Goods and Services Tax Act, 2017 (6 of 2017), the Governor of

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.- (1) The rate of exchange for determination of value of taxable goods shall be the applicable rate of exchange as notified by the Board under section 14 of the Customs Act, 1962 for the date of time of supply of such goods in terms of section 12 of the Act. (2) The rate of exchange for determination of value of taxable services shall be the applicable rate of exchange determined as per the generally accepted accounting principles for the date of time of supply of such services in terms of section 13 of the Act ; (iii) in rule 46, for the third proviso, the following proviso shall be substituted, namely:- Provided also that in the case of the export of goods or services, the invoice shall carry an endorsement SUPPLY MEANT FOR EXPORT/SUPPLY

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tances so warrant, the Commissioner may, by notification, specify that return shall be furnished in FORM GSTR-3B electronically through the common portal, either directly or through a Facilitation Centre notified by the Commissioner. (6) Where a return in FORM GSTR-3B has been furnished, after the due date for furnishing of details in FORM GSTR-2- (a) Part A of the return in FORM GSTR-3 shall be electronically generated on the basis of information furnished through FORM GSTR-1, FORM GSTR-2 and based on other liabilities of preceding tax periods and PART B of the said return shall be electronically generated on the basis of the return in FORM GSTR-3B furnished in respect of the tax period; (b) the registered person shall modify Part B of the

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Goods and Services Tax – Started By: – HIREN MEHTA – Dated:- 13-8-2017 Last Replied Date:- 16-8-2017 – Dear Sir,Can we get a refund of Overflow of GST paid under RCM in Construction Industry if the same is not utilised for out put GST liability? – Reply By HimansuSekhar Sha – The Reply = No, please refer to notf. 15/17- central tax rate – Reply By HimansuSekhar Sha – The Reply = Refund of inverted duty str. Is not applicableon the items specified in sch. Ii 5 (b) I.e construction sector – Reply

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Goods and Services Tax – Started By: – RAI SINGH – Dated:- 13-8-2017 Last Replied Date:- 14-8-2017 – A person having shopand selling few products are nontaxable and some taxable. whether he can opt composition scheme.previous financial year Turnover is ₹ 35 Lakhs. – Reply By RAMESH PRAJAPATI – The Reply = The registered person shall be eligible to opt to pay tax under composition scheme [under 10(1) of the CGST Act], if:- (a) he is not engaged in the supply of services other than supplies referred to in clause (b) of paragraph 6 of Schedule II [Para 6. (b) supply, by way of or as part of any service or in any other manner whatsoever, of goods, being food or any other article for human consumption or any drink (other than alcoholic li

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e to opt for the scheme under sub-section (1) unless all such registered persons opt to pay tax under that sub-section. (3) The option availed of by a registered person under sub-section (1) shall lapse with effect from the day on which his aggregate turnover during a financial year exceeds the limit specified under sub-section (1). (4) A taxable person to whom the provisions of sub-section (1) apply shall not collect any tax from the recipient on supplies made by him nor shall he be entitled to any credit of input tax. (5) If the proper officer has reasons to believe that a taxable person has paid tax under sub-section (1) despite not being eligible, such person shall, in addition to any tax that may be payable by him under any other provi

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Goods and Services Tax – Started By: – SUNIL KRISHNANI – Dated:- 13-8-2017 Last Replied Date:- 13-8-2017 – WELL I AM FACING A PROBLEM WHILE REGISTERING THE DSC [DIGITAL SIGNATURE] OF AN AUTHORIZED SIGNATORY FOR GST REGISTRATION WHICH IS A DUE PROCEDURE AND IS THE ONLY OPTION FOR REGISTRATION OF BODY PVT. LTD. AND LLP. PLEASE SUGGEST AS MY CLIENTS BUSINESS IS GETTING HAMPERED – Reply By KIRTIKUMAR PUROHIT – The Reply = Exactly I don't know; but in the GST Returns there is option of One Time

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Goods and Services Tax – Started By: – pawan kumar – Dated:- 12-8-2017 Last Replied Date:- 14-8-2017 – if dealer have opt composition scheme . he have stock of ₹ 10 lakh(vat paid) as on appointed day of gst i.e is 01.07.2017. Does he have to pay gst on his closing stock of rs. 10 lakh to opt for composition scheme.will he get ITC on his stock – Reply By RAMESH PRAJAPATI – The Reply = If a dealer opts for composition scheme, he will not be allowed to claim ITC In fact he will not have any credit ledger. Closing balance will not be carried forward. – Reply By Rajagopalan Ranganathan – The Reply = Sir,If the dealer has proper invoices evidencing payment of vat prior to 1.7.2017 he need not pay gst when he sells the old stock on or after

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cheme. I support the views of Sh.Pawan Kumar ji. – Reply By Pradeep Kaushik – The Reply = I have received goods return from my customer sold before 30 th june 2017 can i received goods through debit note and suggest for gst law for this transaction – Reply By RAMESH PRAJAPATI – The Reply = If goods was supplied to a registered person before GST era and they have taken cenvat credit of excise duty, the customer should return the goods under their Tax Invoice after payment of GST enabling supplier to take ITC. If the customer was not registered, the supplier should go for refund as per section 142 (1) of the CGST Act 2017 ( reproduced below). 142. (1) Where any goods on which duty, if any, had been paid under the existing law at the time of r

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Goods and Services Tax – Started By: – nandankumar roy – Dated:- 12-8-2017 Last Replied Date:- 14-8-2017 – I WANT TO KNOW ANY OUTWARD FREIGHT BY GTA ,IT WILL ATTRACT 5 % ON RCM 9(3) AS A SERVICE RECEIVER WHERE TRANSPORTER NOT CHARGED ANY GST BUT WHEN OUTWARD SUPPLY GOING THRU BLUE DART CARGO PROVIDER THEN THEY ARE CHAGING 18% GST ON BILL. IN CASE OF BLUE DART CHARGED GST CAN BE PERMISIBLE TO TAKE ITC OF GST CHARGED AMT OR IN FINAL ANY CRDIT NOT PERMISSIBLE AGAINST FREIGHT OUTWARD SUPPLY AND WHE

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Goods and Services Tax – Started By: – AnilKumar Vyas – Dated:- 12-8-2017 Last Replied Date:- 12-8-2017 – Dear Experts,Please suggest, is it correct? if no, please suggest correct tax applicability Sr. No Transaction Applicable GST Supplier State Bill to State Ship to State Supplier >> Buyer Buyer >> Ship to 1 Haryana Haryana Haryana CGST + SGST CGST + SGST 2 Haryana Haryana Rajasthan CGST + SGST IGST 3 Haryana Rajasthan Haryana IGST IGST 4 Haryana Rajasthan Rajasthan IGST CGST + SG

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Goods and Services Tax – Started By: – nandankumar roy – Dated:- 12-8-2017 Last Replied Date:- 12-8-2017 – PLEASE CONFIRM OUTWARD SUPPLY OF OUR MFG UNIT GOING THROUGH BLUE DART CARGO AND CHARGING GST 18% CAN WE ARE ABLE TO CLAIM IN ITC.PL CONFIRM AND 2ND POINT IN CASE OF UNREGISTERED SUPPLIED PARTY RCM TO BE SHOWN UNDER 9(4) AND GST CAN BE SHOWN IGST INSTEAD OF CGST AND SGST .PL CONFIRM.REGARDS ROY – Reply By Rajagopalan Ranganathan – The Reply = Sir, You cannot avail ITC in respect of outward supply of your manufactured goods. Only the buyer of your manufactured goods can avail the credit if he pays GST as consignee. If the unregistered supplier is from other state then you have to pay IGST on reverse charge basis as per section 5 (4) of

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Goods and Services Tax – Started By: – nandankumar roy – Dated:- 12-8-2017 Last Replied Date:- 14-8-2017 – GST RETURN IN CASE OF OUR ONE MANUFACTURING UNIT AND ANOTHER TRADING BRANCH IN SAME STATE IN DIFFERENT LOCATION UNDER ONE GSTN NUMBER WHICH IS TAKEN UNDER MFG UNIT AND 2ND LOCATION SHOWN AS A BRANCH DEPOT AT THE TIME OF REGISTRATION AND OUR INVOICE APPX 800/PM AND BRANCH INV 400/PM HOW IT WILL BE EFFECT IN GSTR RETURN AT THE TIME OF INV NO .PL HELP – Reply By Ramaswamy S – The Reply = One

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Tax Deducted at Source (TDS) in Goods & Services Tax (GST) – Goods and Services Tax – GST – Dated:- 12-8-2017 – Tax Deducted at Source (TDS) in Goods & Services Tax (GST) – News – Press release

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GST won t put any pressure on GDP growth: Rangarajan – Goods and Services Tax – GST – Dated:- 12-8-2017 – Hyderabad, Aug 11 (PTI) Former Reserve Bank Governor C Rangarajan today said the GST rollout has been smooth barring some initial hick ups and maintained the new regime is just an extension of Value-Added Tax (VAT) and will not put any pressure on GDP growth figures. I don't think it (GST) will put any pressure on the GDP growth. There are always teething problems when a far- reaching scheme is introduced. But it appears so far things have moved rather smoothly and GST, in some sense, is an extension of VAT, which is already an ongoing scheme in India, he said. Therefore, some new things have emerged and new things have to be done b

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banks' balance sheets also become weak, said the former chairman of the Prime Minister's Economic Advisory Council. The noted economist said some of the bad loans are due to a slowdown in the economy and asset restructuring companies are part of the solution. The solution to clean up the balance sheet of banks lies in taking some hair cut. Even though hair cut can not be avoided, wilful defaulters must not go unpunished. Rangarajan, who was the helm of the RBI from December 1992 to November 1997, said it is necessary for India to grow at 8 to 9 per cent annually to reach per capita GDP of USD 8,000 by 2030 from the current levels of USD 1,600. Referring to a recent study, he said the total cost of projects initiated by the corporate

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Goods and Services Tax – GST – By: – KIRTIKUMAR PUROHIT – Dated:- 12-8-2017 Last Replied Date:- 17-8-2017 – According to the relief provided by the government in GST, the GSTR-3 returns from July 11 to September 15 are to be filled in September and the return in the month of August is to be filled by September 26. Apart from this, the GSTR 3B returns in July will be available by August 20 and the return date for August is 20th September. As per Section 140 of CGST Act, the registered person has forwarded the input tax credit to the person who has filed the return of previous law, and in some cases it is applicable to stock up to June 30. According to the provisions of the law, if IT returns are filed in farm trans-1, this ITC is available,

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Goods and Services Tax – Started By: – Sunil Jain – Dated:- 12-8-2017 Last Replied Date:- 7-8-2018 – Garment Manufacturing Under GST regime Garment Manufacturing unit is also obtained for registration and invoiced to client as Job Work Stitching under SAC Code 998822 (at GST rate 5% revised on 5.8.17). Can we now purchase all accessory under and issue consolidated bill under Garment related HSN code 6114, covering PO price (Job Working + Trims total cost). (applicable GST rate @5% for Inv value

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Goods and Services Tax – Started By: – NAUSHERAWAN SM – Dated:- 11-8-2017 Last Replied Date:- 14-8-2017 – Let me know whether ITC will be eligible of outdoor caterer supplying and serving foods and beverages in a company canteen for the employee registered under Factory Act, 1948.. Also let me know whether any purchases more than ₹ 5000/- for company pantry like tea, biscuits, cold drinks etc from unregistered party will attract GST in RCM. – Reply By HimansuSekhar Sha – The Reply = Foods

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