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 »
Q.44 An USA based company provides services to its account holders spread worldwide. Whether services given by it would be covered under Section 13(8) of IGST Act? Ans If the place of supply is in India, the registered recipient will have to pay tax under reverse charge and if the recipient is unregistered, company will pay GST… Read More »
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 »
Q.42 Would tax be payable on sale of business assets on which no credit was claimed under GST ? Ans Yes provided the aggregate value of supplies is more than Rs. 20 lakh (Rs. 10 lakh in special category States). Related GST FAQ GST FAQ on Composition, Exports, Invoice and Returns , Job Work ,Levy Related… Read More »
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 »
Q.40 In case of job workers not operating under Notification 214/86-CE (i.e. registered under excise at present), whether they can carry forward the credit availed on RM/PM supplied to them by the principal manufacturer? Also is there any restriction on carry forward of the credit on input services distributed to them by the principal as ISD… Read More »
Q.39 Whether the job worker (who converts barley into Malt) has to charge GST from the Principal only on the Job Work charges or full value of goods, i.e. (Value of Raw Material + Job Work Charges)? Ans The job worker has to pay GST on job work charges only. Related GST FAQ GST FAQ on… Read More »
Q.37 Clarification is sought for the following under GST: Penal Interest on loans and advances Ans Penal interest is a consideration for tolerating an act and it is a supply of service and will be taxable. Related GST FAQ GST FAQ on Composition, Exports, Invoice and Returns , Job Work ,Levy Related Topic on GST Topic… Read More »
Q.35 How a service Provider can get input GST credit benefit in pure labour Contract under Input Credit? Ans He needs to use input for furtherance of business and should fulfill the conditions mentioned in section 16 of CGST Act, 2017. The input should not fall within the negative list provided in section 17(5) of the CGST… Read More »
Q.34 What are the provisions under CGST Act as to the eligibility of CENVAT credit of service tax on invoices which are received after the appointed date for the services received under the service tax regime? Ans ITC is available in terms of section 140(5) of CGST Act, 2017. Related GST FAQ GST FAQ on Composition,… Read More »