TMI Short Notes

TMI Short Notes on various issues

51. Levy of GST on providing back office support services, payroll processing, to main records of employees and after finalization of purchase / sale between the client and its customers.

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52. Levy of GST - Reverse Charge on Legal Services - Services provided by an individual advocate including a senior advocate or firm of advocates - Corrigendum notifications issued

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53. Switching from normal payment of tax composition scheme - Whether the assessee is liable to reverse Input Tax Credit (ITC) on inputs or capital goods held in stock? How to calculate reversal of ITC in such case?

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54. Switching from composition scheme to normal scheme of payment of tax - Whether the assessee is eligible to avail Input Tax Credit (ITC) on inputs or capital goods held in stock? How to determine the amount of ITC on capital goods to be availed?

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55. Can a registered person, who purchases goods from a composition manufacturer / trader (dealer / supplier) take input tax credit under GST?
    1 Comment

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56. In case of a person who is/was availing composition scheme u/s 10. What will be the due date of payment tax (GST) and submitting the return once he crosses the threshold limit of ₹ 75 Lakhs (or rs. 50 lakhs) as the case may be? Can he continue to pay tax and file the return on quarterly basis?
    1 Comment

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57. What is the due date of payment of Tax under GST? What is the due date for payment of tax (GST) and filing of return in case of person opting for composition scheme u/s 10?

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58. Whether a person who is opting for Composition u/s 10 of the GST, is required to pay GST at composite rate on Exempted Goods also?
    3 Comments

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59. A person who was making inter-state supplies during the previous year but not making inter-state supplies during the current year, can he avail the benefit of composition under GST?
    1 Comment

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60. How to determine Turnover limit for availing the benefit of composition scheme? Is it required to be determined each year on the basis of turnover of the previous year?

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61. What is the validity of composition levy? Whether intimation is required to be submitted each year for availing the benefit of composition scheme under GST?

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62. Can the option to pay tax under composition levy be exercised at any time of the year?

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63. Can a person paying tax under composition levy, withdraw voluntarily from the scheme? If so, how?

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64. Can an Importer of goods or services opt to pay tax under composition scheme under GST?
    2 Comments

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65. Can an exporter of goods opt to pay tax under composition scheme under GST?

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66. Can a person paying tax under composition scheme under GST make supplies of goods to SEZ?

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67. Whether a person having turnover much below ₹ 75 Lakhs (Rs. 50 lakhs as the case may be) as on 30-6-2017, and having stock of goods purchased against C form, F form etc. or import goods or inter-state purchases, is eligible for availing the benefit of Composition Scheme under GST?

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68. A person availing benefit of composition scheme under GST, want to be a casual dealer in another state. Can he avail the benefit of composition scheme in the capacity of casual dealer or non resident taxable person?

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69. Who are not eligible to opt for composition scheme? Whether certain manufacturers (like Ice cream, Pan masala, Tobacco etc.) are excluded from opting composition scheme? if Yes, who are they?

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70. A person availing composition scheme during a financial year crosses the turnover of ₹ 75 Lakhs (₹ 50 lakhs in hil areas) during the course of the year i.e. say he crosses the turnover of ₹ 75 Lakhs (₹ 50 lakhs in hil areas) in December? Will he be allowed to pay tax under composition scheme for the remainder of the year i.e. till 31st March?

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71. Whether a person supplying goods through Electronic Commerce Operator, is eligible to opt composition scheme? Since the provisions of TDS u/s 51 and TCS u/s 52 have been deferred, would it make any difference?

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72. A registered person opting for composition scheme is not allowed to make any inter-State outward supplies of goods. Therefore, what would happen if someone from outside the state wants to purchase goods? Will it make any difference, if the person from outside the state is not a registered person?

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73. GST - Whether a Job worker is eligible to avail the benefit of Composition Scheme u/s 10? What happened where the nature of activity undertaken by the job worker is amounting to Manufacture? will he be denied the benefit of composition as service provider?
    2 Comments

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74. GST - Whether a Works contractor having turnover below ₹ 75 lacs is eligible to avail benefit of composition scheme? What happened in case of other service providers? Can a restaurant server provider (Dhaba wala) is allowed under this scheme.

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75. GST - Whether all the manufactures are eligible to avail the benefit of Composition Scheme? If no, what are the exception?

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76. Export - Zero Rated supply - Whether amount received from the Foreign Currency (Non-Resident) account or Non-Resident External Account known as FCNR/NRE account maintained by the buyer can be treated as received in convertible foreign exchange for claiming benefit under GST

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77. Export of Services - For claiming exemption from GST or Benefit of Zero Rated supply under GST, whether receipt of consideration / payment in convertible foreign exchange is necessary or mandatory

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78. What is the meaning of Export of Services under GST

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79. Export of Goods - For claiming exemption from GST or Benefit of Zero Rated supply under GST, whether receipt of consideration / payment in convertible foreign exchange is necessary or mandatory

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80. What is the meaning of export of goods under GST

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81. What is the meaning of continuous journey under GST

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82. What is the location of supplier of Goods for determination place of supply of goods under GST / IGST
    1 Comment

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83. What is the location of supplier of services for determination place of supply of services under GST / IGST

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84. What is the location of the recipient of services for determination place of supply of services under GST / IGST

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85. Meaning and scope of supply under GST (Part 2) - Import of services will be treated as supply and will be subject to GST under reverse charge.

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86. Meaning and scope of supply under GST (Part 1) - Since CGST, SGST or IGST will be levied on supply of goods or services, it is important to understand this term first

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