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CLARIFICATIONS ON CRITICAL ISSUES IN GST - AN UPDATE

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 16-8-2017 - GST is now a reality with its mega launch on the midnight of 30th June, 2017 and 1st July, 2017. With about three weeks into GST regime, there have been many teething problems and issues requiring clarity by the tax payers on taxability, tax rates and other procedural aspects. The Government has been very open on this and is coming out with clarifications promptly in many forms, viz, direct interface, webinars, FAQ' .....

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ent is indicated separately, tax shall be deducted at source under Chapter XVII-B of the Act on the amount paid or payable without including such GST on services component. Though Circular is silent on compensation cess, the view can be taken that TDS will not be applicable on this Cess. GST on Hotel Accommodation Accommodation in any hotel, including 5-star hotels having declared tariff of a unit of accommodation of less than INR 7500 per unit per day, will attract GST @ 18%. Hotels are liable .....

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to a registered person (the jeweller in this case) will be paid by the registered person (the jeweller in this case) under reverse charge mechanism. This provision, however, has to be read in conjunction with section 2(105) read with section 7 of the said Act. Section 2 (105) defines supplier as a person supplying the goods or services. Section 7 provides that a supply is a transaction, for a consideration by a person in the course or furtherance of business. Even though the sale of old gold by .....

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ells it to registered supplier, the tax under RCM will apply. Services of Resident Welfare Associations (RWAs) Supply of service by RWA (unincorporated body or a registered non- profit entity) to its own members by way of reimbursement of charges or share of contribution up to an amount of five thousand rupees per month per member for providing services and goods for the common use of its members in a housing society or a residential complex are exempt from GST. If the aggregate turnover of such .....

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e entitled to ITC in respect of taxes paid by them on capital goods (generators, water pumps, lawn furniture etc.), goods (taps, pipes, other sanitary/hardware fillings etc.) and input services such as repair and maintenance services. ITC of Central Excise and VAT paid on goods and capital goods was not available in the pre-GST period and these were a cost to the RWA. There is no change made to services provided by the Housing Society (RWA) to its members in the GST era. Hostel facilities by Edu .....

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such educational institutions which are providing pre-school education and education up to higher secondary school or equivalent or education leading to a qualification recognised by law, are fully exempt from GST. Annual subscription/fees charged as lodging/boarding charges by such educational institutions from its students for hostel accommodation shall not attract GST. Education institution means an institution providing services by way of: pre-school education and education up to higher sec .....

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