Tweet FAQs – GST
GST
Dated:- 26-6-2017
Tweet FAQs
\nThe tweets received by askGST_GoI handle were scrutinized and developed into a short FAQ of 100 tweets.
\nS. No.
\nQuestions \/ Tweets Received
\nReplies
\nRegistration
\n1.
\nDoes aggregate turnover include value of inward supplies received on which RCM is payable?
\nRefer Section 2(6) of CGST Act. Aggregate turnover does not include value of inward supplies on which tax is payable on reverse charge basis.
\n2.
\nWhat if the dealer migrated with wrong PAN as the status of firm was changed from proprietorship to partnership?
\nNew registration would be required as partnership firm would have new PAN.
\n3.
\nA taxable person's business is in many states. All supplies are below 10 Lakhs. He makes an Inter State supply from one state. Is he liable for registration?
\nHe is liable to register if the aggregate turnover (all India) is more than 20 lacs or if he is engaged in inter-State supplies.
\n4.
\nCan we use provisional GSTIN or do we ge<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n \nWhether aggregate turnover includes turnover of supplies on which tax is payable by the recipient under reverse charge? = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n GST items (grains, pulses) then is it necessary to register for GST, if the turnover exceeds ₹20 lacs? = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n of Provisional ID on or before 31st July 2017. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n clarify status of international export freight under GST as the same was exempt under POPS rules. It is zero rated in most countries. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n o GSTN and ITC claimed in the same? = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n aving invoice value of more than ₹ 2.50 Lakhs. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n al of scrap be treated in GST? = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n provides that in case of a composite supply, the treatment for tax rate etc. will be that of principal supply. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n y from manufacturer and has value cum excise duty and excise duty is not separately shown will he get full credit? = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n osing stocks as on 30th June 2017? Whether the manufacturer\/dealer or government? = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Tweet FAQs – GST GSTDated:- 26-6-2017Tweet FAQs The tweets received by askGST_GoI handle were scrutinized and developed into a short FAQ of 100 tweets. S. No. Questions \/ Tweets Received Replies Registration 1. Does aggregate turnover include value of inward supplies received on which RCM is payable? Refer Section 2(6) of CGST Act. Aggregate turnover … Continue reading “Tweet FAQs – GST”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-3963","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/3963","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=3963"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/3963\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nOutward supplies on which tax is paid on reverse charge basis by the recipient will be included in the aggregate turnover of the supplier.
\n9.
\nIf there are two SEZ units within same state, whether two registrations are required to be obtained?
\nSEZs under same PAN in a state require one registration. Please see proviso to rule 8(1) of CGST Rules.
\n10.
\nIs an advocate providing interstate supply chargeable under Reverse Charge liable for registration?
\nExemption from registration has been provided to such suppliers who are making only those supplies on which recipient is liable to discharge GST under RCM.
\n11.
\nWhen is registration in other state required? Will giving service from Nasik to other state require registration in other state?
\nIf services are being provided from Nasik then registration is required to be taken only in Maharashtra and IGST to be paid on i<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nA person dealing with 100% exempted supply is not liable to register irrespective of turnover.
\n17.
\nIs it correct that person dealing exclusively in NIL rated or exempt goods\/ services liable to register if turnover > 20\/10 Lakh?
\nThere is no liability of registration if the person is dealing with 100% exempt supplies.
\n18.
\nIf I register voluntarily though turnover is less than 20 Lakhs, am I required to pay tax from 1st supply I make post registration?
\nYes, you would be treated as a normal taxable person.
\n19.
\nWhether a separate GSTIN would be allotted to a registered person for deducting TDS (he has PAN and TAN as well)?
\nSeparate registration as tax deductor is required.
\n20.
\nIs separate registration required for trading and manufacturing by same entity in one state?
\nThere will be only one registration per State for all activities.
\n21.
\nI am registered in TN and gett<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n26.
\nWhen turnover of agents will be added to that of the principal for registration?
\nNo.
\n27.
\nIf I am not an existing taxpayer and wish to newly register under GST, when can I do so?
\nYou would be able to apply for new registration at the GST Portal gst.gov.in from 0800 hrs. on 25th June 2017
\nRefund
\n28.
\nI have a pending export refund in Service Tax. What will happen?
\nRefunds under earlier laws will be given under the respective laws only.
\n29.
\nAs an exporter, how do I ensure that my working capital is not blocked as refunds?
\nAppropriate provisions have been made in the law by providing for grant of 90% refund on provisional basis within 7 days from filing of registration.
\nCess
\n30.
\nWhat will be the impact of GST on coal? Will the clean energy Cess on coal go or will it stay?
\nClean Environmental Cess on coal will be replaced by GST Compensation Cess.
\nComposition Scheme
\n31.
\nSuppose I am in composition scheme in GST. If I pur<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nPOS for transport of goods determinable in terms of sec 12(8) or sect 13(8) of IGST Act, 2017, depending upon location of service provider\/service receiver. Exports are treated as zero rated supplies.
\n37.
\nWhen goods are being imported from SEZ who will pay IGST?
\nSuch supply is treated as import and present procedure of payment of duty continues with the variation that IGST is levied in place of CVD.
\n38.
\nWho will pay IGST when goods are procured from SEZ? Today importer is paying both BCD and CVD.
\nSuch supply is treated as import and present procedure of payment continues with the variation that IGST is levied in place of CVD.
\nInput Tax Credit
\n39.
\nIs SGST of Rajasthan charged by supplier on purchase from Rajasthan can be utilize for payment of SGST in Madhya Pradesh?
\nSGST of one State cannot be utilized for discharging of output tax liability <\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nLike invoice, credit\/debit notes on behalf of unregistered person will be given by registered person only. Further, GSTR2 provides for reporting of same by the recipient.
\nInvoice
\n45.
\nA shop sells taxable & exempt products to the same person (B2C), is it required to issue tax invoice and bill of supply separately?
\nIn such a case the person can issue one tax invoice for the taxable invoice and also declare exempted supply in the same invoice.
\n46.
\nDo registered dealers have to record Aadhaar\/PAN while selling goods to unregistered dealers?
\nThere is no requirement to take Aadhaar \/ PAN details of the customer under the GST Act.
\n47.
\nAll expenses like freight \/ transport \/ packing which are charged in Sales Invoice are taxable in GST? How to charge in bill?
\nAll expenses will have to be included in the value and invoice needs to be issued accordingly. Please refer to Section 15 of CGST Act and Invoice Rules.
\n48.
\nCan we move construction materia<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n53.
\nHow to incorporate two supplies in return for Pharma with same HSN code of four digits but having different tax rates?
\nReturns provide for furnishing rate wise details.
\nSupply
\n54.
\nShould we discharge GST liability for all reverse charge having small amounts of Transaction or any amount limit is there?
\nIt has been decided that ₹ 5000\/- per day exemption will be given in respect of supplies received from unregistered person. For supplies above this amount, a monthly consolidated bill can be raised.
\n55.
\nWhat is treatment of promotional item given free to end consumers by FMCG companies?
\nTax will be charged only on the total consideration charged for such supply.
\n56.
\nHow to comply with 9(4) of CGST Act if POS is in another State of the unregistered supplier
\nAny person making inter-state supply has to compulsorily obtain registration and therefore in such cases, section 9(4) will not come into play.
\n57.
\nUnder supp<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nIf the disposal is in the course or furtherance of business purposes, it will be considered as a supply.
\n63.
\nI am from MP and providing service to a customer in Maharashtra. I outsource the work to a service provider in Maharashtra, what tax i need to charge?
\nGenerally these will be two supplies where the supplier from MP will charge IGST from the recipient in Maharashtra. Whereas, the service provider in Maharashtra will charge IGST from the recipient in MP.
\n64.
\nIf address of buyer is Punjab and place of supply is same state of supplier (Rajasthan), then IGST will apply or CGST\/SGST?
\nIf the place of supply and the location of the supplier are in the same State then it will be intra-State supply and CGST \/ SGST will be applicable.
\n65.
\nWhy is bifurcation of cash deposit as CGST-SGST-IGST required? Is cash held against a GSTIN, to be adjusted via return u\/s 39
\nThree levies are under three different statutes and are required to be separately accoun<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n70.
\nWhether slump sale will attract GST. If yes then under which Section?
\nIt will have the same treatment as normal supply.
\n71.
\nSalary by Partnership firm to Partners as per Income Tax Act liable to GST? Partners are not employees of the firm.
\nSalary will not be leviable of GST.
\nTransition
\n72.
\nHow do I avail transition credit ?
\nTransition credit can be availed by filing the respective forms under Transition rules upto 30.09.2017.
\n73.
\nPlease provide the clarity on area based exemption 50\/2003 in UK & HP.
\nArea based exemptions will not be continued under GST. It will be operated through the route of reimbursement as prescribed.
\n74.
\nWe manufactured excisable goods. But unit availed the exception benefits 50\/2003. What about my dealers stock?
\nThe dealer will get deemed credit @ 40% \/ 60% of the CGST paid on supply of such goods in GST. If the goods are branded and<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nFull transition credit of such duty will be available on stock in hand in respect of which you have duty paying excise document subject to conditions under Section 140(3) of the CGST Act.
\n79.
\nIs the full excise credit also available to traders who purchases directly from manufacturers and excise is separately shown in invoice?
\nFull transition credit of such duty will be available on stock in hand in respect of which you have duty paying excise document subject to conditions under Section 140(3) of the CGST Act.
\n80.
\nIn June 17 Vat return no amount carried forward & held stock of ₹ 50 lakhs. Then can we take credit of that stock or not?
\nThe supplier would be eligible to carry forward the closing balance of ITC from VAT return for June 17.
\n81.
\nWhat will be the impact of closing stock which has been already paid vat on 1st July?
\nThe supplier would be eligible t<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nClosing ITC in VAT return will be allowed to be carry forward in GST.
\n88.
\nHow will we get input credit on stock in hand for spare parts billed from other state, excise, CST and entry tax paid?
\nFor all inputs with duty paying documents available respective CGST \/ SGST credit will be available. But credit of CST will not be available.
\n89.
\nA trader buys from manufacturer not registered in excise as his turnover is below 1.5 crore. then in such case can traders take ITC on stock up to 40%
\nDeemed Credit will be available on stock in hand provided the conditions of section 140(3) read with Rule 1(4) of Transition Rules are satisfied.
\n90.
\nWhether we will be eligible for credit of duty paid on Capital Goods in transit and received post GST?
\nNo such provision in GST.
\n91.
\nCan ITC of Swach Bharat Cess or Krishi Kalyan Cess be carried forward under GST?
\nNo
\n92.
\nWill Clean Energy CESS on imported Coal @ <\/p>\n
For full text:-Visit the Source <\/a><\/p>\n