Applicability of GST
Query (Issue) Started By: – Vineet Kt Dated:- 1-8-2018 Last Reply Date:- 28-8-2018 Goods and Services Tax – GST
Got 9 Replies
GST
Sir,
\nI am employee of a bank and had availed furniture reimbursement facility from the Bank. Now I have resigned and the bank is charging gst on the wdv of the household items so that the ownership can be transferred in my name. Please clarify if gst is applicable or not. No ITC was claimed as the items were purchased in the pre-gst regime(vat).
\nReply By Alkesh Jani:
\nThe Reply:
\nSir,
\nAlthough No ITC was taken, GST is applicable on transaction value.
\nThanks
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nGST will be charged \/ collected from you by the Bank and pay to the government. <\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ce GST would be applicable and regarding input tax credit , in my view if you bank had taken credit in past then the gst payable in only on the differential value. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Applicability of GST Query (Issue) Started By: – Vineet Kt Dated:- 1-8-2018 Last Reply Date:- 28-8-2018 Goods and Services Tax – GSTGot 9 RepliesGSTSir, I am employee of a bank and had availed furniture reimbursement facility from the Bank. Now I have resigned and the bank is charging gst on the wdv of the household … Continue reading “Applicability of GST”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-12962","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/12962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12962"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/12962\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nReply By Vineet Kt:
\nThe Reply:
\nThanks Sir. Understood now.
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nWelcome Sir.
\nReply By DR.MARIAPPAN GOVINDARAJAN:
\nThe Reply:
\nNice explanation by Shri Ganeshan
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nThank you Sir.
\nReply By Ramaswamy S:
\nThe Reply:
\nAt the time of purchase of asset, the asset was in the name of the employer and the depreciation was claimed by the employer. The value of the asset was treated as perks in the hands of the employee and IT was charged.
\nAt the time of transfer of asset (pre GST), VAT is charged on the value of the <\/p>\n
For full text:-Visit the Source <\/a><\/p>\n