which one of the following is taxable

[SANJEEVKUMAR YADAV]

Hello Sir,

I have just started to learn about taxation and while checking a profit and loss account some exp. and fees are shown. Can you tell me which exp. or fee is not covered in taxation:

advocate fee

audit fee

bank charges

d.g. set exp

electricity exp

machine rent

interest paid to others

land machine exp. office exp.

printing and stationery exp

pump exp.

repairs to machinery

salaries and wages

rent

tanker

telephone expenses

composite fee

[Ganeshan Kalyani]

Sir, GST is implemented w.e.f. 01.07.2017 by subsuming all indrect taxes on goods and services. State taxes is subsumed into SGST, Central taxes is subsumed into CGST. The threshold limit for a dealer to register under GST is ₹ 20 lacs (10lacs for special category States. ). A registered dealer shall charge GST on the invoice raised by him on supply of taxable goods or services.

In the list given by you, electricity charges, salary and wages is not subject to GST. To comment on other expenses further information is required.

[KASTURI SETHI]

I think this is P& L account for the period prior to implementstion of GST. You want to know about Service Tax as per heading of query. The following expenses are out of scope of ST :-. 1. Salary & wages 2. Interest 3.Land & Machine purchase (Repair and installation taxable) 4. Pump expenses 5. Tanker purchase 6.Printing and stationary 7.D.G.Set purchases.

[DR.MARIAPPAN GOVINDARAJAN]

Please avoid such queries. You yourself analyze and find out the same. It is not a teaching forum. It is only discussion on doubts arised in practical difficulties.

[YAGAY andSUN]

Dear Sanjeev,

Since you have just started learning/reading/understanding about the GST, then we suggest you be a avid reader on this forum.

In our view, except electricity exps, interest and salary & wages all other expenses would attract GST.

You may raise as many queries as you want.

God Bless you!

Regards,

YAGAY AND SUN

AI Summary

GST applicability: electricity, salaries and interest generally outside tax; other business expenses may attract GST depending on nature. Goods and Services Tax, effective 01.07.2017, subsumed prior central and state indirect taxes into CGST and SGST; registered suppliers must charge GST on taxable supplies. Electricity charges, salaries and wages, and interest were identified as not subject to GST, while other expense heads may be taxable depending on whether the entry is a supply of services or a purchase of goods; purchases of capital assets were treated as out of scope whereas repairs and installation are taxable services.