GST FAQs -2
GST FAQs replied by CA Satbir Singh in Live session on 20.08.2018 .
Mohit Nijhon : can we download (GSTR 2A in Excel) of whole year in one excel or monthy only
Answer : you can Download monthly
Mohammed Feroze : when we are doing practical workings,download link of GSTR 2A in Excel is not available.
Answer : due to heavy rush on GST Portal , it is may not available
venkatesh sulegai : Sir ji, Mein ek Garment Factory chalata hoon kapde manufacturing ke liye sewing machines purchase Kiya hai, toh input tax credit kar sakte hai ye malum hai kintu kaise claim karna hai,?? Pura ek sath ya uske koi conditions hai??? Please upload a video with this regard.
Answer: Pura Ek Sath : Section 16 of CGST Act and Rule 43 of CGST Rules 2017 (GST News 07.12.2017 by TaxHeal ! Rule 43 CGST Rules) Manner of determination of input tax credit in respect of capital goods and reversal thereof in certain cases ( Partely Taxable and Partly Exempt, Partly for business and partely for non business purpose)
Eligibility and condition for taking input tax credit.
2 16. (1) Every registered person shall, subject to such conditions and restric- tions as may be prescribed and in the manner specified in section 49, be entitled to take credit of input tax charged on any supply of goods or services or both to him which are used or intended to be used in the course or furtherance of his business and the said amount shall be credited to the electronic credit ledger of such person.
(2) Notwithstanding anything contained in this section, no registered person shall be entitled to the credit of any input tax in respect of any supply of goods or services or both to him unless,—
| (a) | he is in possession of a tax invoice or debit note issued by a supplier registered under this Act, or such other tax paying documents as may be prescribed; | |
| (b) | he has received the goods or services or both. | |
| Explanation.—For the purposes of this clause, it shall be deemed that the registered person has received the goods where the goods are delivered by the supplier to a recipient or any other person on the direction of such registered person, whether acting as an agent or otherwise, before or during movement of goods, either by way of transfer of documents of title to goods or otherwise; | ||
| (c) | subject to the provisions of section 41, the tax charged in respect of such supply has been actually paid to the Government, either in cash or through utilisation of input tax credit admissible in respect of the said supply; and | |
| (d) | he has furnished the return under section 39: |
Provided that where the goods against an invoice are received in lots or instalments, the registered person shall be entitled to take credit upon receipt of the last lot or instalment:
Provided further that where a recipient fails to pay to the supplier of goods or services or both, other than the supplies on which tax is payable on reverse charge basis, the amount towards the value of supply along with tax payable thereon within a period of one hundred and eighty days from the date of issue of invoice by the supplier, an amount equal to the input tax credit availed by the recipient shall be added to his output tax liability, along with interest thereon, in such manner as may be prescribed:
Provided also that the recipient shall be entitled to avail of the credit of input tax on payment made by him of the amount towards the value of supply of goods or services or both along with tax payable thereon.
(3) Where the registered person has claimed depreciation on the tax component of the cost of capital goods and plant and machinery under the provisions of the Income-tax Act, 1961 (43 of 1961), the input tax credit on the said tax component shall not be allowed.
(4) A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains or furnishing of the relevant annual return, whichever is earlier.
Prasantkumar Tripathy : How can i know all the parts of GST News from beginning to date.
Answer : Please Refer Playlist of You tube Channel , CA Satbir Singh
Vijit Luhadiya : Sir i have not availed input tax credit on certain invoices in f.y 2017-18, my Consultant is saying that instead of claiming input tax credit of f.y 2017-18 in the months of f.y. 2018-19 , we will claim it in annual return, is that possible , please guide..??
Refer Section 16 (4) of CGST Act 2017
A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains or furnishing of the relevant annual return, whichever is earlier.
As per my, Electronic Credit Register updated only when you file GSTR 3B .
If you are filing invoice of previous year, in the next Financial year ( after 20th October ) you will not be able to claim Input Tax Credit
Section 49(2) of CGST Act 2017
…..
(2) The input tax credit as self-assessed in the return of a registered person shall be credited to his electronic credit ledger, in accordance with section 41, to be maintained in such manner as may be prescribed.
Claim of input tax credit and provisional acceptance thereof.
1 41. (1) Every registered person shall, subject to such conditions and restric- tions as may be prescribed, be entitled to take the credit of eligible input tax, as self-assessed, in his return and such amount shall be credited on a provisional basis to his electronic credit ledger.
(2) The credit referred to in sub-section (1) shall be utilised only for payment of self-assessed output tax as per the return referred to in the said sub-section.
Section 2(97) of CGST act
| (97) | “return” means any return prescribed or otherwise required to be furnished by or under this Act or the rules made thereunder; |
Mukund jain :=Yadi koi property lease par di gai hai to kya cement sand etc ka ITC claim kar sakte hai jo ki construction me use hui hai
Answer : No . Refer Section 17 (5)( c ) and ( d) of CGST Act 2017
Notwithstanding anything contained in sub-section (1) of section 16 and sub- section (1) of section 18, input tax credit shall not be available in respect of the following, namely:—
…………..
| (c) | works contract services when supplied for construction of an immovable property (other than plant and machinery) except where it is an input service for further supply of works contract service; | |
| (d) | goods or services or both received by a taxable person for construction of an immovable property (other than plant or machinery) on his own account including when such goods or services or both are used in the course or furtherance of business. | |
| Explanation.—For the purposes of clauses (c)and (d), the expression “construction” includes re-construction, renovation, additions or alterations or repairs, to the extent of capitalisation, to the said immovable property; |
Mohammad Salkin : Whether ITC 4 is necessary to file
Who needs to file Form GST ITC-04?
A registered person (Principal) is required to file a declaration in ‘Form GST ITC-04’ every quarter, within the prescribed time, if the Principal is sending any inputs or capital goods to a job worker and receives it back or sends it out to another job worker or supplies from premises of job worker to customer directly.
Filing of NIL return is not mandatory in case of ITC-04.
Nizam Mondal : Sir I had to show my tax in igst in gstr 3b but wrongly filed by showning in cgst and sgst. Can I claim refund of cgst and sgst?
Yes
Gaurav Agrawal : Sir in case of job work Material return after professing by Job worker How to remove goods from job work location to principle location Either on basis of delivery challan or can be on job work invoice And if on delivery challan then what value have to write on delivery challan
Conditions and restrictions in respect of inputs and capital goods sent to the job worker
- (1) The inputs, semi-finished goods or capital goods shall be sent to the job worker under the cover of a challan issued by the principal, including where such goods are sent directly to a job-worker 2[, and where the goods are sent from one job worker to another job worker, the challan may be issued either by the principal or the job worker sending the goods to another job worker:
Provided that the challan issued by the principal may be endorsed by the job worker, indicating therein the quantity and description of goods where the goods are sent by one job worker to another or are returned to the principal:
Provided further that the challan endorsed by the job worker may be further endorsed by another job worker, indicating therein the quantity and description of goods where the goods are sent by one job worker to another or are returned to the principal.]
(2) The challan issued by the principal to the job worker shall contain the details specified in rule 55. (Transportation of goods without issue of invoice)