TMI BlogGST on Interes,new project etcX X X X Extracts X X X X X X X X Extracts X X X X ..... Kindly provide your valuable advise, how we can save GST, if applicable in the following cases :- 1.Interest charged from customer for overdue payment. 2.Amount charged from customer for early delivery of shipment. 3.We procured material services for electricity supply line from feeder to new factory:- We purchased Poles Wires from market vendors and given to our contractors(service pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... viders) for installation on road from feeder to factory. Some incidental material required to fit the wires on poles like-clam/nut/bolts/aluminum wire/earthing wire/insulators/hdpe pipes are bring by our contractor (Service provider) for this commissioning. In new factor-Transformer,DG set, street lighting,cable ,wire will also install. Our intention is not to pay GST, please guide. - Rep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly By Ganeshan Kalyani - The Reply = It amounts to wilful evasion of tax. We should not do it. Let us help building the nation by paying the applicable tax. - Reply By KASTURI SETHI - The Reply = Dear Querist,. I understand you want legal benefit. All your activities fall under Works Contract Service and attract GST . No chance to avoid it as per GST law. - Reply By Narendra Soni - The Repl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y = Dear Sir, my mistake.actually GST is applicable,hence we will pay.no issue. my query is how can we avail ITC on these works.Any suggestions of assigning the work by which ITC could be eligible. Kindly suggest. - Reply By Ganeshan Kalyani - The Reply = Dear Sri Soni Ji, please refer Section 16 of CGST Act, 2017 . In restriction of input tax credit it is mentioned that credit is not allo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wed if works contract services supplied for construction of an immovable property (other than plant and machinery) except where it is an input service for further supply of works contract service. - Reply By Narendra Soni - The Reply = Ok sir. What about point 1 2. - Reply By KASTURI SETHI - The Reply = On both points no.1 2 GST is applicable. - Reply By Himansu Sekhar - The Reply = P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lease refer to sec 17(5), the poles and wires are located about side the factory premises. The availability of ITC on such materials is doubtful - Reply By Himansu Sekhar - The Reply = Early delivery charges are incvludible in the transaction value. - Reply By KASTURI SETHI - The Reply = Dear Querist, Sh.Himansu Sekhar has rightly advised you. Section 17(5) is full of 'ifs' and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 'buts'. I mean to say so many strings are attached. You are to examine admissibility in view of definition of 'in course or furtherance of business' viz-a-viz conditions contained in Section 17 (5) of CGST . Each and every items has to be examined. In my view, ITC is admissible except where specifically excluded from the definition of ITC. - Reply By Himansu Sekhar - The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reply = Thank you sir. - GST on Interes,new project etc - Query Started By: - Narendra Soni Dated:- 21-8-2017 Goods and Services Tax - GST - Got 10 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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