Q.33 What will be the Input Credit of newly launched project of building construction after 01.07.2017? Ans ITC is permitted to pay output tax of construction/work contract services. Please see Section 17(5)(c) and (d) of CGST Act, 2017. Related GST FAQ GST FAQ on Composition, Exports, Invoice and Returns , Job Work ,Levy Related Topic… Read More »
Q.30 Since our products are under 0% and we are using various services like telephone, professional charges for which we will be paying GST to our registered service providers and this amount will not be utilized towards any payment of outward goods. Are we eligible for refund on the services obtained and GSTN paid for the… Read More »
Q.29 How should importers take credit of clean energy cess paid on goods lying as stock 30.06.2017? Ans No credit for clean energy cess can be taken. 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… Read More »
Q.27 Please clarify ITC Credit status for the following condition: On GST Deducted Commission for Distributor registered under GST Taxpayer? Ans Any deductions under TDS/TCS provisions from amount paid or credited to the supplier shall be credited to the electronic cash ledger which can be used for payment of tax. Related GST FAQ GST FAQ on Composition,… Read More »
Q. 25 Please clarify the procedure of availing ITC on Additional Compensation Cess on some products like Tobacco, Coke, Cigarettes. Ans ITC of cess can be used only for payment of cess Related GST FAQ GST FAQ on Composition, Exports, Invoice and Returns , Job Work ,Levy Related Topic on GST Topic Click Link GST Acts… Read More »
Q.24 How can a trader avail ITC while selling goods/services to unregistered/exempted GST traders? Ans The fact that a registered person is supplying goods to an unregistered or exempted person has no consequence on availment of ITC by the supplier. Related GST FAQ GST FAQ on Composition, Exports, Invoice and Returns , Job Work ,Levy Related Topic… Read More »
Q.23 Clarification is sought on the following: Revision in GSTR Returns Ans Mistakes can be corrected in subsequent returns to be filed through amendment Table (For example Table 11 of GSTR-1). Such mistakes can be corrected till the due date for filing of the return for the month of September subsequent to end of the year or… Read More »
Q.22 How to send equipment and instruments to manufacturers’ factory for repairs and calibration with in India on returnable basis? – No sale is involved. Ans Challan for movement of goods without supply is to be issued in terms of Rule 55 of CGST Rules. Related GST FAQ GST FAQ on Composition, Exports, Invoice and Returns… Read More »
Q.21 Under GST, how to send demonstration equipment and instruments to customers or branch offices with in India on returnable basis? – No sale is involved Ans As the goods are sent on returnable basis and no transfer of title is involved, it is not a supply of goods. If some element of service is involved, the… Read More »
Q.20 How the invoicing should be done for free goods given along with sale so that corresponding input tax credit is not required to be reversed for products under scheme? Ans Invoice value would include value of all goods including those supplied free. In such cases, ITC is not required to be reversed. Related GST FAQ… Read More »