Author: admin_gst

What is the time of supply applicable with regard to addition in the value by way of interest, late fee or penalty or any delayed payment of consideration?

Question 9 – Draft-Bills-Reports – Time of Supply – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 9 – Q 9. What is the time of supply applicable with regard to addition in the value by way of interest, late fee or penalty or any delayed payment of consideration? Ans. The time of supply with regard to an addition in value on account of interest, late fee or penalty or delayed consideration shall be the date on which the supplier receipts such additional consideration. – Statutory Provision

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Where it is not possible to determine the time of supply in terms of sub-section 2, 3, 4of Section 12 or that of Section 13 of CGST/SGST Act, how will time of supply be determined?

Question 4 – Draft-Bills-Reports – Time of Supply – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 4 – Q 4. Where it is not possible to determine the time of supply in terms of sub-section 2, 3, 4of Section 12 or that of Section 13 of CGST/SGST Act, how will time of supply be determined? Ans. There is a residual entry in Section 12(5) as well as 13 (5) which says that if periodical return has to be filed, then the due date of filing of such periodical return shall be the time of supply. In

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is time of supply?

What is time of supply? – Question 1 – Draft-Bills-Reports – Time of Supply – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 1 – 5. Time of Supply Q 1. What is time of supply? Ans. The time of su

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

When does the liability to pay GST arise in respect of supply of goods and Services?

Question 2 – Draft-Bills-Reports – Time of Supply – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 2 – Q 2. When does the liability to pay GST arise in respect of supply of goods and Services? Ans. Section12 & 13 of the CGST/SGST Act provides for time of supply of goods. The time of supply of goods shall be the earlier of the following namely, (i) the date of issue of invoice by the supplier or the last date on which he is required under Section 28, to issue the invoice with respect to

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Are there any activities which are treated as neither a supply of goods nor a supply of services?

Question 23 – Draft-Bills-Reports – Meaning and Scope of Supply – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 23 – Q 23. Are there any activities which are treated as neither a supply of goods nor a supply of services? Ans. Yes. Schedule-III of the model GST law lists certain activities such as (i) services by an employee to the employer in the course of or in relation to his employment, (ii) services by any Court or Tribunal established under any law, (iii) functions performed by membe

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Will import of services without consideration be taxable under GST?

Question 25 – Draft-Bills-Reports – Meaning and Scope of Supply – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 25 – Q 25. Will import of services without consideration be taxable under GST? Ans. As a general principle, import of services without consideration will not be considered as supply under GST in terms of Section 3. However, import of services by a taxable person from a related person or from any of his other establishments outside India, in the course or furtherance of business,

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Whether supply of software would be treated as supply of goods or supply of services under GST law?

Question 17 – Draft-Bills-Reports – Meaning and Scope of Supply – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 17 – Q 17. Whether supply of software would be treated as supply of goods or supply of services under GST law? Ans. Development, design, programming, customization, adaptation, upgradation, enhancement, implementation of information technology software shall be treated as supply of services as listed in Sl. No. 5 (2)(d) of Schedule -II of the model GST law. – Statutory Provision

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is a Composite Supply under CGST/ SGST/UTGST Act?

Question 19 – Draft-Bills-Reports – Meaning and Scope of Supply – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 19 – Q 19. What is a Composite Supply under CGST/ SGST/UTGST Act? Ans. Composite Supply means a supply made by a taxable person to a recipient comprising two or more supplies of goods or services, or any combination thereof, which are naturally bundled and supplied in conjunction with each other in the ordinary course of business, one of which is a principal supply. For example,

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What is a mixed supply?

Question 21 – Draft-Bills-Reports – Meaning and Scope of Supply – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 21 – Q 21. What is a mixed supply? Ans. Mixed Supply means two or more individual supplies of goods or services or any combination thereof, made in conjunction with each other by a taxable person for a single price where such supply does not constitute a composite supply. For example, a supply of package consisting of canned foods, sweets, chocolates, cakes, dry fruits, aerated

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What are inter-state supplies and intra-state supplies?

Question 14 – Draft-Bills-Reports – Meaning and Scope of Supply – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 14 – Q 14. What are inter-state supplies and intra-state supplies? Ans. Inter-state and intra-state supplies have specifically been defined in Section 7(1), 7(2) and 8(1), 8(2) of the IGST Act respectively. Broadly, where the location of the supplier and the place of supply are in same state it will be intrastate and where it is in different states it will be inter-state supplie

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Whether transfer of right to use goods will be treated as supply of goods or supply of service? Why?

Question 15 – Draft-Bills-Reports – Meaning and Scope of Supply – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 15 – Q 15. Whether transfer of right to use goods will be treated as supply of goods or supply of service? Why? Ans. Transfer of right to use goods shall be treated as supply of service because there is no transfer of title in such supplies. Such transactions are specifically treated as supply of service in Schedule-II of CGST/SGST Act. – Statutory Provisions, Acts, Rules, Regul

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

What do you mean by “supply made in the course or furtherance of business”?

Question 9 – Draft-Bills-Reports – Meaning and Scope of Supply – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 9 – Q 9. What do you mean by supply made in the course or furtherance of business ? Ans. Business is defined under Section 2(17) include any trade, commerce, manufacture, profession, vocation etc. whether or not undertaken for a pecuniary benefit. Business also includes any activity or transaction which is incidental or ancillary to the aforementioned listed activities. In additi

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

An individual buys a car for personal use and after a year sells it to a car dealer. Will the transaction be a supply in terms of CGST/SGST Act? Give reasons for the answer.

Question 10 – Draft-Bills-Reports – Meaning and Scope of Supply – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 10 – Q 10. An individual buys a car for personal use and after a year sells it to a car dealer. Will the transaction be a supply in terms of CGST/SGST Act? Give reasons for the answer. Ans. No, because supply is not made by the individual in the course or furtherance of business. Further, no input tax credit was admissible on such car at the time of its acquisition as it was mea

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

A dealer of air-conditioners permanently transfers an air conditioner from his stock in trade, for personal use at his residence. Will the transaction constitute a supply?

Question 11 – Draft-Bills-Reports – Meaning and Scope of Supply – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 11 – Q 11. A dealer of air-conditioners permanently transfers an air conditioner from his stock in trade, for personal use at his residence. Will the transaction constitute a supply? Ans. Yes. As per Sl. No.1 of Schedule-I, permanent transfer or disposal of business assets where input as credit has been availed on such assets shall constitute a supply under GST even where no con

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =