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Rate of tax under GST on expenses debited to Trading Profit & Loss A/c

Goods and Services Tax - GST - By: - KIRTIKUMAR PUROHIT - Dated:- 14-8-2017 Last Replied Date:- 20-8-2017 - Expenses Under GST Regime Rate of tax under GST on expenses debited to Trading Profit & Loss A/c Sr. No Nature of Expense Rate of Tax Whether registered supplier will levy tax Reverse Charge(If supply is unregistered) Whether Eligible for Input Credit 1 Salaray, wages & bonus paid to employee 0% No No No 2 Electricity bill 0% No No No 3 Water Charges/ Plain Water 0% No No No 4 Bank .....

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, Auto, Bus, Train 0% No No No 18 Loading & Unloading in relation agricultural produce/ Hamali 0% No No No 19 Rent Paid for residential use 0% No No No 20 Godown Rent for agricultural produce 0% No No No 21 News paper & magazines 0% No No No 22 Remuneration to Director & partners 0% No No No 23 Conveyance Expense - Radio Taxi like OLA & UBER or other AC vechile 5% Yes Yes No 24 Payment to Goods Transport Agency 5% No Yes Yes 25 Travelling in Train by AC or First class 5% Yes Yes .....

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Yes Yes Yes 33 Food & Beverages Expense (AC restaurant) 18% Yes Yes No 34 Mineral water 18% Yes Yes Yes 35 Truck/ Tempo Hire Charges 18% Yes Yes Yes 36 Club & Membership fees 18% Yes Yes No 37 Advertisement Charges / Hoarding / Magazine / News Papers / Media 18% Yes Yes Yes 38 AMC Charges 18% Yes Yes Yes 39 Bank Charges - Service charges recovered 18% Yes No Yes 40 Broker Fee & Charges 18% Yes Yes Yes 41 Cancellation Charges 18% Yes Yes Yes 42 Extended Warranty 18% Yes Yes Yes 43 Hou .....

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8% Yes Yes Yes 53 Commission Paid 18% Yes Yes Yes 54 Rent Paid for commercial use of premises 18% Yes Yes Yes 55 Godown Rent for commercial purpose 18% Yes Yes Yes 56 Repair and Maintenance - Building / Electrical 18% Yes Yes Refer Note 1 / P& M / Others 57 Room Rent in a hotel, lodge (Rs.2500 to 7500 per room per day 18% Yes Yes Yes 58 Payment for Sponsorship Services 18% Yes Yes No 59 Security Charges 18% Yes Yes Yes 60 Telephone, Mobile & internet Charges 18% Yes No Refer Note 2 61 Su .....

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tel, lodge Above ₹ 7500/- 28% Yes Yes Yes 70 Travelling Expenses International 28% Yes Yes No 71 Amusement Park/ Theatre Ticket 28% Yes Yes Yes 72 Cold drink 40% Yes Yes No 73 Repairs & maintainance Charges if it has not resulted into immovable property 18% / 28% Yes Yes Yes 74 Electrical Fittings 18% / 28% Yes Yes No 75 Staff Uniform Expenses 5% / 12% Yes Yes Yes 76 Packing material & Packing Charges 5%/ 12% 18% Yes Yes Yes 77 Plant & Machinery Actual Rate Yes Yes Refer Note 3 .....

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ble property than input credit is not available 2) If Telephone, Mobile & Internet bill is in the name of the company and adress and place of business is mentioned then only one should claim the input credit 3) Inpur credit is available fully. However if it is sold/disposed off/ scrapped/ thrown away within 5 years, then input credit @ 5% per quarter is available for the used period and balance is to be reversed for not used fully at the time of date of sale. 4) Input credit is available onl .....

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