Goods and Services Tax – Started By: – Narendra Soni – Dated:- 21-8-2017 Last Replied Date:- 22-8-2017 – Kindly provide your valuable advise,how we can save GST, if applicable in the following cases :-1.Interest charged from customer for overdue payment.2.Amount charged from customer for early delivery of shipment.3.We procured material & services for electricity supply line from feeder to new factory:-We purchased Poles & Wires from market vendors and given to our contractors(service providers) for installation on road from feeder to factory.Some incidental material required to fit the wires on poles like-clam/nut/bolts/aluminum wire/earthing wire/insulators/hdpe pipes are bring by our contractor (Service provider) for this commis
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
ly By Ganeshan Kalyani – The Reply = Dear Sri Soni Ji, please refer Section 16 of CGST Act, 2017. In restriction of input tax credit it is mentioned that credit is not allowed if works contract services supplied for construction of an immovable property (other than plant and machinery) except where it is an input service for further supply of works contract service. – Reply By Narendra Soni – The Reply = Ok sir.What about point 1 & 2. – Reply By KASTURI SETHI – The Reply = On both points no.1 & 2 GST is applicable. – Reply By Himansu Sekhar – The Reply = Please refer to sec 17(5), the poles and wires are located about side the factory premises. The availability of ITC on such materials is doubtful – Reply By Himansu Sekhar – The Rep
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =