Q.6 In case of export of services, who will pay the service tax as for Bhutan, Nepal and Bangladesh? Ans The place of supply is outside India but as the supplier is located in India, it is a case of inter-State supply and subject to IGST. It will be zero rated if the sale proceeds are realized… Read More »
Q.5 With reference to clause 5 of Rule 96A of CGST Rules, 2017 as inserted vides Ntf No. 15/2017-Central Tax dated 01st July 2017 “(5) The Board, by way of notification, may specify the conditions and safeguards under which a Letter of Undertaking may be furnished in place of a bond.” It may be clarified… Read More »
Q.3 Whether every registered person who intends to export requires fresh Bond/LUT even if the same was issued on or before 30.06.2017 and is still live i.e. not one year old. Ans Circular No. 4/4/2017-GST dated 07.07.2017 clarifies this. Old LUT/bond is valid till 31.07.2017, after which fresh LUT/Bond in the new format is required to be… Read More »
Q.2 Can traders selling on ecommerce portals avail composition scheme if their turnover is less than Rs. 75 lakh? Ans No. refer Sub-section (2) of Section 10 of CGST Act, 2017. Related GST FAQ GST FAQ on Composition, Exports, Invoice and Returns , Job Work ,Levy Related Topic on GST Topic Click Link GST Acts Central… Read More »
Q.1 Whether a person can avail the composition scheme on Small Retail Trading of goods if he is holding both incomes like Sale of business: Rs. 25 lakh (Small Retail Trader) and Rental income: Rs. 12 lakh, whereas the person was registered earlier in VAT Composition Scheme and was paying Service Tax on rental income? Ans Renting… Read More »