Commission and freight role in GST
Query (Issue) Started By: – RAM SHARMA Dated:- 2-9-2016 Last Reply Date:- 4-9-2016 Goods and Services Tax – GST
Got 5 Replies
GST
Dear Experts,
\nWe are manufacturer of exciasable goods and selling our goods through our various consignment agent in all over india against form F. We are providing 3% commission and freight to our consignment agent for selling our goods and availing service tax cenvat on such commission and freight up to the consignment agent warehouse. I would like to know your opinion in this regard after implementation of GST impact.
\nThanks & Regard
\nReply By CS SANJAY MALHOTRA:
\nThe Reply:
\nAll forms i.e. C\/D\/E-1\/F will be done away with in GST regime and the tax has to be pai<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n d in the Model GST Law. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n k transfer is immediate liquidity to Exchequer. Say, if A has stock transfer to his branch in another State and the receiving location may sell those goods in the same month or by two or three months time depend upon the market demand. Generally looking into the need of that location stock transfer is taken place. But practically may take that much time in selling the goods in receiving branch state. Thus only when the goods are locally sold the Exchequer are getting the revenue. So there is a time gap from the date when goods are stock transfer and the date when actual sale is taken place. To bridge a gap and to prepone the tax collection Govt has come up which such provision where even stock transfer is taxes. This would make the authorit<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Commission and freight role in GST Query (Issue) Started By: – RAM SHARMA Dated:- 2-9-2016 Last Reply Date:- 4-9-2016 Goods and Services Tax – GSTGot 5 RepliesGSTDear Experts, We are manufacturer of exciasable goods and selling our goods through our various consignment agent in all over india against form F. We are providing 3% commission … Continue reading “Commission and freight role in 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-959","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/959","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=959"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/959\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nThere is possibility that the Model GST Bill shall undergo change\/modifications. All have to wait till time a final law is enacted.. Thanks.
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nSir, IGST shall be payable by sending unit and the receiving unit shall be able to take credit by adjusting first against IGST payable followed by CGST and finally against SGST. The said sequence has been prescribed in the draft GST Law.Thanks
\nReply By CA Surender Gupta:
\nThe Reply:
\nThe transactions between the principal and agent will be treated as separate would be chargeable to GST as per the proposed scheme.
\nGST paid by the principal will be available to consignment agent \/ dealer as ITC and so no on subsequent sale.
\nTherefore, i<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n