Daily Archives: August 30, 2017

Govt approved increase in GST Compensation Cess rate

By | August 30, 2017

Cabinet approves promulgation of the Goods and Services Tax (Compensation to States) Ordinance, 2017  The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval to the proposal of the Finance Ministry to promulgate an ordinance to suitably amend the Goods and Services Tax (Compensation to States) Act, 2017. The approval would… Read More »

How to clear Samples from Factory after GST ?

By | August 30, 2017

Q.50 What option shall be opted while clearing samples from factory to warehouse location: (a) No GST should be levied but corresponding ITC should be reversed (b) GST should be levied but GST (ITC) paid on samples cleared should be reversed at receiving warehouse location. Ans Depends upon the location of the factory and warehouse. If both… Read More »

Category: GST

GST on Rental Income

By | August 30, 2017

Q.46 Does Rental Income less than Rs. 20 Lakh per annum attract GST? Ans No. That said, where the rental income from a single property is less than Rs. 20 lakh but the aggregate rental income from various properties exceed rupees twenty lakh, the requirement for registration and GST payment will be there.   Related GST FAQ… Read More »

Category: GST

GST on fringe benefits provided to Employees

By | August 30, 2017

Q.43 What kind of facilities provided by employer to employee would be liable to GST? For instance, whether club membership provided will be considered as” service”? Ans The compensation to employees in the form of money is not a supply. However, fringe benefits are supply of goods or services and are liable to tax if not exempted.… Read More »

Category: GST

Charge GST on labour charges in an invoice

By | August 30, 2017

Q.41 Should GST be charged on labour charges in an invoice? Ans Yes, if the activity is taxable. Related GST FAQ GST FAQ on Composition, Exports, Invoice and Returns , Job Work ,Levy Related Topic on GST  Topic Click Link GST Acts  Central GST Act and States GST Acts GST Rules GST Rules  GST Forms GST Forms… Read More »

Category: GST