Goods and Services Tax – GST – By: – Anuj Bansal – Dated:- 7-8-2017 Last Replied Date:- 8-8-2017 – The day is not far when service tax return will be filed for the last time on 15th August, 2017 which is the due date for filing the last Service Tax return. But some things in life leave us in pain and so is the service tax return. Market is flooded with issues, queries and dilemmas for what to do and what not to do. Over here, effort is made to highlight few issues assessees are facing while filing the service tax returns and while entering the GST regime. Firstly, let s discuss few issues in filing service tax return. Invoices received after filing of service tax return i.e. 15th August, 2017 One of the major issues is invoices pertaining to previous regime which the assessee will be receiving after the due date of filing of service tax return. Question is how to book the invoices in the service tax return. As per the GST Laws, if return is revised later and there is any increase in t
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arged on invoice and not Service tax. Payments under Reverse Charge Mechanism Another important issue is payments under Reverse charge which are related to services of pre GST regime but payments are made by the recipients who are liable to pay tax under RCM post GST. Now there is a legal dispute in this transaction, under the service tax regime the point of taxation under RCM is date of payment and provided if payment is not made within 3 months of the date of invoice, the point of taxation shall be date immediately following the said period of three months. Let s take an example of manpower services, where services were rendered pre-GST and payment is to be made post GST then POT of such transaction is date of payment . Now date of payment is falling under post GST where manpower services are not covered under reverse charge. In such a case the recipient is not liable to make any payment under reverse charge and thus why will he pay any tax on such transaction? That s why few compani
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tails. What if such invoices are not booked or not received within time and the assessee fails to record such transaction in his books? Is it not over ruling the provisions of service tax laws, for availment of credit upto one year from the date of issue of invoice? What about construction services where payment is made before appointed date and goods will be received let s say after 3 months of appointed date? Is this not total injustice on part of government? Upward / Downward revision of prices post GST Another example is where services were given pre-GST and due to increase in prices the assessee wants to issue debit note post GST. Can he do so? Can he issue debit note and charge applicable rate of GST on same? As per the CGST laws, if there is any downward or upward revision of prices of goods / services post GST related to transactions under taken pre-GST then one can issue credit / debit note depending on the situation. However, SGST laws covers revision in prices of goods only,
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