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Query Posted : 7294
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  • Gst on sale of Tempo= Second hand
    by Vishal on Thursday, May 24, 2018  at 11:17 PM

    we are a section 8 company registered under gst and have purchased a tempo on 26.9.17 for transport of goods amd have availed gst on it. Gst charged was 28 % Now section 8 company wish to sale such tempo as on 25.5.18. How much gst..section 8 company should collect? some gst on margin needs to be collected ..i heard..Please guide.

  • EXEMPTED SUPPLY
    by Vivek on Thursday, May 24, 2018  at 08:38 PM

    Sir, In relation to my query- Our core business is in EXEMPTED SUPPLY. SOMETIMES, WE ALSO SELL SCRAP WHICH IS TAXABLE UNDER GST. THE INPUTS WHICH WE PURCHASE FOR EXEMPTED SUPPLY IS "TAXABLE" UNDER GST. Thus,the seller of inputs charge GST FROM US.Thus, "THIS INPUT IS DIRECTLY ATTRIBUTED (D.A) TO EXEMPT SUPPLY". Query- WHETHER ITC of GST paid on this input can be taken proportionately OR IT CANNOT BE TAKEN PROPORTIONATELY ALSO BCOZ THIS INPUT IS D.A TO EXEMPT SUPPLY ??

  • Credit / Refund of service tax paid which subsequently become bad debt
    by Rajnikant Pragada on Thursday, May 24, 2018  at 08:10 PM

    Mr. A provided services to Mr. B in 2015 and paid due service tax, at the time of issuance of invoice. However, payment is not received from Mr. B till date and hence such amount due from Mr. B is written off in the Books of Mr. A. Que. i) Can Mr. A claim the Credit in respect of such service tax amount written off against GST liability? If yes, what is the mechanism? ii) Can Mr. A claim the refund of such service tax ?

  • Import of Services
    by K on Thursday, May 24, 2018  at 07:05 PM

    A reputed educational institute based in Mumbai purchases case study (Case study is basically a description of management situation) from educational institute located in USA. The case is downloaded from the website of foreign educational institute. Whether service recipient is liable to discharge GST under reverse charge ? Is there any exemption which can be availed by educational institute ?

  • Issue Tax Invoice in Advance & despatch goods by issuing delivery challans in partial quantity after generating E way Bill
    by PARVEZ on Thursday, May 24, 2018  at 06:50 PM

    Whether taxpayer can issue tax Invoice in Advance ie 1st of every month and despatch the goods by issuing delivery challans in whole month in partial quantity after generating EWB? Is this type of transactions allowed in GST Law ? Is yes provide the legal provision

  • GST
    by Gautam on Thursday, May 24, 2018  at 04:54 PM

    Dear Sir, We are engaged in Sale of cattle feed exempt under GST. We also have GST liablity u/s 9(3) of Advocate. Query- If we pay the liablity of 9(3), then this will become ITC is next month. Can we claim full amount of GST PAID UNDER RCM as ITC is next OR FULL AMOUNT WILL BECOME PART OF COST ??? Pls clarify.

  • EXEMPTED SUPPLY
    by Vivek on Thursday, May 24, 2018  at 04:47 PM

    Dear Sir,Our core business is in EXEMPTED SUPPLY. SOMETIMES, WE ALSO SELL SCRAP WHICH IS TAXABLE UNDER GST. THE INPUTS WHICH WE PURCHASE FOR EXEMPTED SUPPLY IS "TAXABLE" UNDER GST. Thus,the seller of inputs charge GST FROM US. Query-If total GST ON INPUTS in a month is Rs.80000 and GST COLLECTED ON SCRAP SALE is Rs. 20000.Then can we TAKE RS.60000 (80000-20000) AS PART OF "COST",& THUS, ADJUST Rs. 20000- OUTPUT GST . Is it correct sir ?? 2) If NOT, then how to deal with this ??

  • RENTING OF IMMOVABLE PROPERTY
    by AMOLAK JAIN on Thursday, May 24, 2018  at 03:43 PM

    SIR IN CASE OF RENTING OF IMMOVABLE PROPERTY AS PER TERMS OF AGREEMENT MAINTENANCE CHARGES AND PROPERTY TAX IF PAID AND BORNE BY TENANT/LESSEE AND NOT RECOVERABLE FROM LANDLORD

  • Interest on service
    by Virender chaudhry on Thursday, May 24, 2018  at 01:43 PM

    Can interest on late payment of service tax exceed the amount of service tax. For eg. service tax demand for FY 2012-13 is Rs. 100 and interest amount is more than Rs. 100 suppose Rs. 120 by applying applicable interest rates. Then whether Rs. 120 would be payable as interest or interest amount cannot exceed the service tax liability i.e. Rs. 100.

  • Valuation
    by Deepika on Thursday, May 24, 2018  at 01:34 PM

    Should road tax form part of the value of car rental charges for the purpose of discharging GST? Section 15(2) (a) of CGST Act. However, this constitutes inadmissible input tax credits in the hands of the recipient. Right?

  • Security Deposit
    by Mrudul on Thursday, May 24, 2018  at 01:31 PM

    XYZ Ltd. receiving security deposit from customer against supply of gas cylinders.is there any GST implication on it for XYZ?

  • divedend on shares
    by Mrudul on Thursday, May 24, 2018  at 01:30 PM

    XYZ Ltd. receiving dividend on shares. are they required to pay GST or reverse proportionate ITC being exempted service?

  • How to Show in GSTR-1
    by Akash on Thursday, May 24, 2018  at 01:07 PM

    On Thursday, May 24, 2018 at 10:48 AM a query was raised naming "What to mention in Normal tax Invoice". The following was Replied by V. S. Datey on Thursday, May 24, 2018 at 12:43 PM. "charge IGST V S Datey" Q. Please let us know the following: Where will this be reported in GSTR-1 i.e. whether it will be shown under table 6a as export or under B2B.

  • E-WAY BILL VALUE OBSERVATION
    by MANISH on Thursday, May 24, 2018  at 11:45 AM

    THANKS FOR YOUR REPLY. NOW OUR SECOND QUERY IS IF PRODUCT VALUE INCLUDING IGST IS RS. 60000/- DISCOUNT GIVEN RS. 60000/- FINAL BILL VALUE IS ZERO. QUERY:- NOW WE SHOULD GENERATE E-WAY BILL OR NOT. QUERY:- IF GENERATE E-WAY BILL, SHOULD BE VALUE ZERO OR RS. 60000/- ON E-WAY BILL.

  • Time limit to issue Credit Note
    by nitin on Thursday, May 24, 2018  at 11:40 AM

    Can one issue credit note under GST regime against the Tax invoice dated 01.04.2017 ?

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