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Tweet FAQs - GST

Goods and Services Tax - GST - Dated:- 5-9-2017 - The tweets received by askGST_GoI handle were scrutinized and developed into a short FAQ of 50 tweets. It should be noted that the tweets received or the replies quoted are only for educational and guidance purposes and do not hold any legal validity. For complete provisions relating to law and rules, notifications and other information available on the CBEC website (www.cbec.gov.in; www.cbec-gst.gov.in) may be referred to. S. No. Questions / Twe .....

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gistering a branch office in another state comes under fresh registration or under existing tax payer registration? The registration in other State would come under fresh registration. 4. Is registration necessary if only interstate supply of Nil rated goods is being made? If exclusively making supplies of Nil rated supplies, registration is not compulsory. Kindly refer section 23 of CGST Act. 5. Whether franchisor company will have to take registration in each state where outlets are located? N .....

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exempted products. 8. My all outward supplies are export services. In this case is it compulsory to register under GST? Yes. Since, exports are zero rated, one needs to register for GST to claim refunds. 9. Can a person operating two different companies with different names but with same PAN get two GST registrations? One PAN holder gets one registration in every state, but he has the option of getting different registrations for different business verticals. 10. Whether job worker is required t .....

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an ice cream manufacturer with sales in one state only. Can I avail the option of composition? No. The following three classes of persons, namely Ice cream and other edible ice, whether or not containing cocoa. Pan masala All goods, i.e. Tobacco and manufactured tobacco substitutes are not eligible for benefit of composition scheme. 13. If I register under the composition scheme, can I opt out of it later? What happens to my stock if I do so? Those availing composition can exit and opt for norma .....

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financial year. 15. I have registered as a composition dealer. If my turnover crosses ₹ 75 lakhs, can I continue in the scheme for the remaining financial year? No, taxpayer becomes ineligible for composition scheme on the day the turnover crosses ₹ 75 lakhs. 16. If I was registered earlier but am not required to register under GST, what to do about provisional ID and accumulated ITC? Please apply for cancellation of registration under Section 29(1) of the CGST Act, 2017 read with R .....

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ion 140 of CGST Act, 2017 read with Rule 117 of CGST Rules, 2017. 18. I have migrated and received provisional ID but not GSTIN, how do I supply goods or services or both? Provisional ID (PID) will be your GSTIN. You can supply goods or services or both specifying PID as your GSTIN on Invoice. 19. I have not received ARN or have received ARN but not GSTIN, how do I supply goods or services or both? You can supply goods or services or both on bill of supply without mentioning GSTIN and/or ARN. On .....

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ration for making inter-state purchases. 21. Is GST registration mandatory for small retailers to buy from dealers/wholesalers? There is no such requirement under GST law. Transition 22. After implementation of GST, will EOU scheme continue or not? GST has no special dispensation for EOUs. As to whether they exist for any other purpose may be seen from the FTP. 23. I was unregistered in excise before and now in 18% slab? Can I take credit of stock if I don t have invoices? Deemed credit will be .....

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th input stock without payment of excise duty but GST being charged on final sale, shall we get credit of such stock? Credit of stock which was unconditionally exempt from excise duty or was NIL rated shall not be available. Please see Rule 117(4) of the CGST Rules, 2017. 26. Can a spice manufacturer take ITC of central excise paid on packing material lying in stock as on 30/06/17? If he has duty paying documents then he will get full credit of central excise duty paid on stock held by him. 27. .....

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de the link of the same. No there is no particular format. Rule 46 of the CGST Rules, 2017 prescribes the particulars to be contained in Invoice. 30. Whether from 1st July sequence of invoice no. will change? Or can we follow the same sequence? Same sequence can be followed provided conditions laid down in Section 31 of the CGST Act, 2017 read with Rule 46 of CGST Rules, 2017 are met. 31. Whether existing UT-1, Bond will suffice? Whether existing ARE 1 form will exist? Circular No. 4/4/2017-GST .....

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enerally available if they are used in the course or furtherance of business. However, credit is not available on cars, unless you are in a business of imparting driving training, or supplying such cars. A list of item on which ITC is not available is provided in Section 17 of the CGST Act, 2017. 33. If my turnover is less than 1.5 crores, do I need to mention HSN code on my invoice? Specifying HSN code on invoice is optional for taxpayers having turnover upto 1.5 crores. 34. We are Excise regis .....

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ion scheme. What is to be the treatment of ITC? Not eligible for ITC under composition scheme. Your ITC lying in balance will lapse. 37. I paid for a service in June 2017 but am likely to receive the service in August 2017. Can I avail ITC for the same? Credit on such inputs services will be allowed subject to satisfaction of conditions prescribed in Section 140 (5) of the CGST Act. 38. For taxpayers with centralized registration under Excise/ST, what is to be treatment of CENVAT after migration .....

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s may be used. 40. If I use my credit card to pay utility bills, will I end up paying GST twice; once for the service and second time for the credit card bill? No, GST is not leviable on the entire credit card bill; it is charged only on the fee/commission charged by the credit card company. 41. We currently transport material on delivery challan and make a single bill at the end of the month. Can the same be done under GST? If on every instance you are making a supply then an invoice needs to b .....

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43. What to do with stock lying with me on 1.07.2017. Do I need to charge GST? Yes, you need to charge GST but you can use transition credit, if available on the said goods. 44. I am a small manufacturer who supplies cycle parts to two manufacturing units in the same area. For every supply, I generate an invoice and take 500 Rs. flat for cartage and loading charges. What tax rate to be charged on the cartage and loading expenses? This will be a composite supply where the principal supply (the g .....

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Forum: REGISTRETION

Notification: Absolute Exemption from IGST on inter-State supplies of goods

Notification: CGST Rate Schedule u/s 9(1) - notifying rates of CGST @ 2.5%, 6%, 9%, 14%, 1.5% and 0.125% on Supply of Goods

Notification: seeks to exempt Skimmed milk powder, or concentrated milk

Forum: On what Value tax to be deducted at source (TDS)

Highlight: IGST Rate Schedule u/s 5(1) - notifying rates of IGST @ 5%, 12%, 18%, 28%, 3% and 0.25% on supply of goods. - Notification no. 1/2017 as amended vide notification dated 22-9-2017

Notification: IGST Rate Schedule u/s 5(1) - notifying rates of IGST @ 5%, 12%, 18%, 28%, 3% and 0.25% on supply of goods.

Highlight: National Advisory Committee on Accounting Standards - Tenure of the NACAS extended from one year to two years

Notification: National Advisory Committee on Accounting Standards

Forum: Duty Drawback- Urgent

Notification: Central Government appoints the 20th September, 2017 as the date on which proviso to clause (87) of section 2 of the Companies Act 2013, shall come into force - "subsidiary company" or "subsidiary"

Highlight: Restriction on number of layers for certain classes of holding companies - More than two layers of subsidiaries not allowed subject to certain exceptions.

Forum: GST on RCM on rent in a unregistered state

Forum: COMPOSITION SCHEME

Article: Websites of Government Departments need lot of improvement. We are noticing detoriations in them for example, case of website of ITAT.

Highlight: Levy of additions tax u/s 115O on distribution of dividend - shares of its profits declared as distributable among the shareholders is not impressed with the character of the profit from which it reaches the hands of the shareholder - not to be bifurcated as agriculture and non-agriculture dividend - SC

Highlight: Rate of GST on old and scrap buses - 28% or 18% - at such initial tender process initiated by the Respondents-KSRTC, the present petitions filed by the petitioners are premature and misconceived and do not require any interference by this Court at this stage. - HC

Highlight: In view of amendment made u/s 132A of the Income Tax Act, 1961 by Finance Act of 2017, the 'reason to believe' or 'reason to suspect', as the case may be, shall not be disclosed to any person or any authority or the Appellate Tribunal, SC dismissed the appeal of the assessee

Highlight: Validity of Assessment Order - period of limitation u/s 153 (2A) is applicable even if the entire order was not set aside but matter was remanded back for for limited aspects with directions - HC

News: Note ban was a shake-up, achieved its main objectives

Notification: Amendments in the notification No.5/2017- Integrated Tax (Rate) dated the 28th June, 2017.

Highlight: Levying interest u/s 234C - interest is to be charged on the returned income and not on assessed income.

Highlight: Accrual of income - sale of right to develop and sell incentive FSI under LOI - till the conditions of LOI are fulfilled transfer is not complete and income does not accrue to the assessee

Highlight: TPA - determination of ALP - TP adjustment by applying Bright Line Test (BLT) is not sustainable on protective basis having no statutory mandate.

Highlight: Safeguard Duty - Advance License Scheme - as there is no exemption from safeguard duty leviable under Section 8C, which is imposed on the goods imported from China, the importer has to pay safeguard duty

Highlight: Manufacture - process of cutting of waste plastic container - Such plastic containers before and after cutting are nothing but waste / scrap - Not a manufacturing activity as no new product emerges.

News: NITI Aayog and Govt. of Assam organizes workshop on health sector reforms in Guwahati; launches SATH- Sustainable Action for Transforming Human Capital

Notification: Seeks to amend notification no. 5/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding restriction of refund on corduroy fabrics

Notification: Seeks to amend notification no. 2/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst exemptions

Notification: Seeks to amend notification no. 2/2017- integrated tax(rate) dated 28.06.2017 to give effect to GST council decisions regarding GST exemptions.

Notification: Seeks to amend notification no. 1/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst rates

Notification: Seeks to amend notification no. 1/2017- integrated tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst rates.

News: Notification Issued For GST Actionable Claim On Branded Food Products

Highlight: Classification printed computer stationary/manifold Business Forms - to be classified under Chapter Heading 4820.00 or under Chapter Heading 4901.90 - items like A4 sheets, advertisement and job card to be classified under Chapter 49

Article: RCM Applicability to persons not liable to get registered us 23(1)

Article: Credit of unsold stock [Section 140(3)] - Actual Credit as well as Notional Credit - Part-I - GST Transitional provisions

News: GST Refund - Blockage of Working Capital of Exporters - earlier also there was a normal blockage of funds for a period of 5-6 months at least

News: Clarification about Transition Credit - ₹ 1.27 lakh crore of credit of Central Excise and Service Tax was lying as closing balance as on 30th June, 2017 - claim of credit of ₹ 65,000 crore is not unexpected

Article: 20 Things You must know about E Way Bills in GST Law

Article: MISTAKES IN DRAFTING

Highlight: The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes -reg. - Circular

Highlight: The definition of "subsidiary company" or "subsidiary" u/s 2(87) of the Companies Act, 2013 shall come into force w.e.f. 20-9-2017

Highlight: Central Government notified the All Industry Rates of Duty Drawback Schedule w.e.f. 1.10.2017 - Notification

Notification: All Industry Rates of Duty Drawback Schedule w.e.f. 1.10.2017

Circular: Investment by Foreign Portfolio Investors in Corporate Debt Securities Review

Notification: Exemptions on supply of services under UTGST Act

Notification: Rates for supply of services under UTGST Act

Notification: Exemptions on supply of services under IGST Act

Notification: Rates for supply of services under IGST Act

Notification: List of Exempted supply of services under the CGST Act



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