Loading...

⚠ ✕
❮ Top
☎ Help
☰
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback✕

Contact Us At :

✉ E-mail: [email protected]

✆ Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search ✕
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
╳
Add to...
You have not created any category. Kindly create one to bookmark this item!
✕
Create New Category
Hide
Title :
Description :
❮❮ Hide
❮ Default View
Expand ❯❯
Close ✕
🔎 Filters / Advanced Search ❯
TEXT

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In
Main Text + AI Text ❯
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ---- ❯
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ---- ❯
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ---- ❯
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
☰   Show Results ❯
    Department of Commerce Organises “Leveraging FTAs” Outreach Programme in Jaipur to Strengthen Export Opportunities
    Central Bureau of Narcotics (CBN) organises five drug awareness programmes for MP youth Mission Yuva Raksha
    DRI seizes massive 137 kg consignment of crystal meth; busts coastal drug trafficking network; 4 arrested in Tamil Nadu
    Optimization of Statutory Branch Auditors (SBAs) Costs and Acceleration of Centralized Audit Frameworks
    Clarification on Legislative Developments concerning Government’s shareholding in IDBI
    Introduction of e-Invoicing Facility for Recipient Generated Self Invoices under Reverse Charge Mechanism for Domestic Supplies from Unregistered Pers...
    DFS Organises Workshop on Reservation Policy for Public Sector Banks, Public Sector Insurance Companies and Public Financial Institutions
    APEDA Facilitates Export of 1.755 MT of Organic Palmyra Jaggery Powder from Tamil Nadu to Bulgaria
    Union Commerce and Industry Minister Shri Piyush Goyal Launches National Strategic Trade Command Centre at Vanijya Bhawan
    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman participates in the 114th meeting of the Development Committee Plenary of the W...
    Customs officers detect 148.67 kg hydroponic weed from Bangkok at air cargo complex at IGI Airport
    DRI seizes around 6.2 kg foreign-origin gold; busts sophisticated gold smuggling modus operandi through unaccompanied baggage; three arrested
    Central Bureau of Narcotics (CBN) U.P. Unit holds public hearing to address grievances of opium cultivators
    Directorate of Revenue Intelligence (DRI) and Central Bureau of Narcotics (CBN) destroy 2.87 Hectares (7.08 Acres) of illicit cannabis (ganja) cultiva...
    The cumulative exports (merchandise & services) during April-September 2026-27 are estimated at US$ 476.20 Billion, as compared to US$ 418.31 Billion ...
    Union Minister of Commerce and Industry Shri Piyush Goyal Calls on Youth to Drive India’s AI Journey
    CCI approves acquisition of majority stake in Tribhovandas Bhimji Zaveri Limited by GRT Jewellers (India) Private Limited
    CCI approves the acquisition of certain shareholding in Kids Clinic India by NuageLux BidCo S.à r.l
    CCI approves acquisition of certain shareholding in FarMart Service Pvt Ltd by Impact Fund Denmark, Belgian Investment Company for Developing Countrie...
    Frequently Asked Questions (FAQs) on Strategic Restructuring of IDBI Bank Ltd.
❮
❯
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
October 19, 2026
Show AI Summary
Free trade agreement utilisation requires origin compliance, product standards, and documentation to secure preferential export market access.
Effective FTA utilisation requires businesses to identify eligible products and markets, assess tariff preferences and rules of origin, and meet applicable quality, certification, documentation and importing-country requirements. Preferential access under agreements with the UAE, Australia, EFTA countries and the United Kingdom remains subject to each agreement's provisions and implementation status. Tariff preferences may improve price competitiveness and facilitate participation in international supply chains where product- and partner-specific conditions are satisfied.
October 19, 2026
Show AI Summary
Drug prevention awareness initiatives engage students through health education, interactive activities and pledges supporting a drug-free society.
Mission Yuva Raksha advances preventive drug awareness and demand-reduction efforts among students through programmes at educational institutions in Madhya Pradesh. Sessions addressed the harmful effects of substance abuse on physical and mental health, education, family life and careers, supported by interactive learning activities. Participants were encouraged to avoid drugs, adopt healthy lifestyles, take pledges and support awareness initiatives in their schools, families and communities. Preventive education and youth engagement complement enforcement-oriented work through informed choices and community-based resistance to substance abuse.
October 19, 2026
Show AI Summary
Coastal narcotics trafficking enforcement addresses suspected maritime methamphetamine smuggling through seizure, asset recovery, and arrests under drug-control law.
Intelligence-led narcotics enforcement addressed suspected coastal storage and maritime transfer of methamphetamine to Sri Lanka. Searches recovered crystal methamphetamine concealed in foil packets within duffel bags, which was seized under the Narcotic Drugs and Psychotropic Substances Act, 1985. Searches also recovered suspected drug-sale proceeds and vehicles allegedly used in transportation. Persons allegedly involved in organising coastal export, transport, storage and logistics were arrested and remanded to judicial custody.
October 17, 2026
Show AI Summary
Centralised audit framework targets lower physical branch audit coverage while preserving regulatory oversight and maintaining remuneration.
For FY 2026-27, audit remuneration is to remain at existing levels. Member banks are advised to accelerate a centralised audit framework to improve cost efficiency while retaining comprehensive risk oversight. Physical statutory branch audit coverage should be reduced to cover 50% of total business, apart from centralised treasury audits. Audit coverage must align with SEBI listing and disclosure requirements and RBI guidelines, supported by a Board-approved policy for the centralised audit roadmap.
October 17, 2026
Show AI Summary
Promissory estoppel cannot prevent Government shareholding dilution where enacted legislation imposes no restriction on strategic disinvestment.
Government shareholding in IDBI may be reduced or divested because the IDBI (Repeal) Act, 2003 contains no restriction on dilution of the Government's stake. A proposed amendment to limit dilution was rejected and not incorporated into the enacted law. Parliamentary statements cannot override statutory text, and promissory estoppel cannot be invoked on the basis of legislative debate statements to prevent dilution of Government shareholding. Successive Union Budget speeches also reflected a policy of transformation and strategic disinvestment of IDBI Bank.
October 16, 2026
Show AI Summary
Recipient-generated e-invoicing under reverse charge enables eligible taxpayers to obtain IRNs for domestic unregistered supplies and imported services.
Eligible active registered recipients meeting the applicable aggregate annual turnover threshold may report recipient-generated self-invoices for specified reverse-charge domestic supplies from unregistered persons and imports of services. RCMDOM and RCMIMP must be selected as the relevant e-invoice supply types when reporting through an authorised Invoice Registration Portal. Submission and validation of prescribed invoice particulars would generate an Invoice Reference Number, subject to applicable GST provisions, notifications and e-invoice specifications.
October 16, 2026
Show AI Summary
Reservation Policy Implementation in public financial institutions was examined through capacity building, practical deliberations, and measures for consistent application.
Implementation of the Government of India's Reservation Policy across public sector banks, public sector insurance companies, sectoral regulators and public financial institutions was addressed through capacity building to support uniform and effective application. Deliberations considered practical implementation issues, operational challenges and actionable measures for consistent policy application, alongside related welfare measures and interactive discussion of implementation questions.
October 16, 2026
Show AI Summary
Organic agricultural export certification supports overseas market access for Palmyra Jaggery Powder through export-oriented producer linkages.
APEDA facilitated the maiden sea export of NPOP- and EU-certified organic Palmyra Jaggery Powder from Tamil Nadu to Bulgaria. The initiative seeks to diversify India's organic export basket, create market linkages for traditional Palmyra-based products, and improve producer access through export-oriented value chains. It covers organic cultivation and reports improved price realisation for participating farmers and the manufacturer compared with the domestic market. APEDA supports certified organic and value-added agricultural exports through market development, quality compliance, and overseas buyer linkages.
October 16, 2026
Show AI Summary
Data-driven trade governance enables integrated monitoring, application analysis and evidence-based policy inputs through the National Strategic Trade Command Centre.
The National Strategic Trade Command Centre provides an integrated analytics and visualisation platform consolidating trade data to monitor trade indicators, scheme performance, application pendency, processing timelines, regional trends and compliance-related parameters. It enables analysis across national trade performance, Regional Authorities, schemes, products, destination markets and individual applications, subject to role-based access permissions. Initial dashboards cover key trade-facilitation and regulatory processes, including SCOMET, export promotion schemes, certificates of origin, importer-exporter registration and restricted imports and exports.
October 16, 2026
Show AI Summary
Private capital mobilisation should use competitive financing, guarantees and risk mitigation to expand productive employment and productivity.
Private capital mobilisation is treated as essential to employment generation and productivity growth. Private enterprises, MSMEs and startups should remain central to job creation, with financing assessed by employment and productivity outcomes rather than volume. Guarantees, risk-mitigation instruments, local-currency financing and lower transaction costs are identified as means to expand affordable and predictable access to capital. Methodologies underlying governance indicators should be transparent, objective, evidence-based and responsive to diverse development experiences.
October 16, 2026
Show AI Summary
Narcotics smuggling through misdeclared air cargo triggered seizure, arrest, and ongoing investigation into concealed hydroponic weed imports.
A Bangkok-origin air-cargo consignment declared as PU Tubes was examined on suspicion of mis-declaration. Plastic spools were found to contain concealed cavities holding polythene-wrapped packets of compacted green substance, preliminarily identified as suspected ganja/marijuana and described as hydroponic weed. The concealed substance, packaging and concealment material were seized under the NDPS Act, 1985. One person was arrested, and follow-up searches produced leads for continuing investigation.
October 16, 2026
Show AI Summary
Unaccompanied baggage gold smuggling: concealed hardware and insider coordination triggered interception, seizure, and arrests under customs law.
Foreign-origin gold smuggling through the unaccompanied baggage channel involved concealment of gold within hardware items and coordinated retrieval through warehouse personnel and intermediaries. Intelligence-led interception resulted in recovery and seizure of foreign-origin gold concealed in a floor spring, metal locks, a grease gun and a door closer. The arrangement used a trolley secured by a pre-decided number-lock combination, with a warehouse staff member, mediator and receiver allegedly involved in delivery of the concealed gold.
October 16, 2026
Show AI Summary
Opium cultivation licensing grievance redressal advances through public hearings, administrative remedies, policy recording, and a planned cultivator helpline.
Opium cultivation licensing grievances were addressed through a public hearing where cultivators raised irrigation, climatic, single-plot licensing, and village-wise allocation concerns. Participants were informed of available legal provisions and administrative remedies. Requests for more licences and larger cultivation plots were considered, with policy matters recorded. A helpline is intended to assist cultivators during the 2026-27 licensing operation.
October 16, 2026
Show AI Summary
Illicit cannabis cultivation: crop destruction followed legal formalities, while investigation continues in a remote wildlife sanctuary.
Illicit cannabis cultivation was located by a joint DRI and CBN team across five stretches of remote, densely forested wildlife-sanctuary land near village Jamniapani, Shirpur, District Dhule, Maharashtra. The cultivation covered 2.87 hectares. Following requisite legal formalities, the cannabis crop was destroyed using a rotavator in the presence of Police and Forest Department officials. Investigation remains in progress.
October 15, 2026
Show AI Summary
Merchandise and services trade estimates show export growth, import expansion, and a wider combined trade deficit over the reporting period.
Combined trade estimates for April-September 2026-27 show exports of US$ 476.20 billion and imports of US$ 551.13 billion, resulting in a trade deficit of US$ 74.93 billion. Merchandise exports rose to US$ 259.89 billion, while merchandise imports reached US$ 437.53 billion. Estimated services exports were US$ 216.31 billion and services imports were US$ 113.60 billion, producing a services trade surplus of US$ 102.71 billion. September services figures are estimates, and specified earlier-period data were revised using quarterly balance-of-payments data.
October 15, 2026
Show AI Summary
Emerging technology skills and resilient supply chains are positioned as foundations for investment competitiveness and inclusive economic growth.
Ministerial policy priorities for India's trade, investment and technology agenda emphasise artificial intelligence, cybersecurity, technology adoption, manufacturing investment and lifelong skill development. Investment competitiveness is linked to political stability, resilient supply chains, and fair and transparent trading practices. The first tranche of a bilateral trade agreement with the United States has been finalised, while final contours and legal drafting continue before operationalisation.
October 14, 2026
Show AI Summary
Majority stake acquisition in the jewellery sector receives competition clearance for GRT Jewellers' purchase of Tribhovandas Bhimji Zaveri.
Competition Commission of India approved GRT Jewellers (India) Private Limited's proposed acquisition of a majority stake in Tribhovandas Bhimji Zaveri Limited. The transaction concerns entities operating in the Indian gems and jewellery market, including a private limited acquirer and a publicly listed target engaged in manufacturing and sale of gems and jewellery.
October 14, 2026
Show AI Summary
Minority shareholding acquisition in mother and baby healthcare receives competition clearance for a private equity-backed investment.
Competition Commission of India clearance authorises NuageLux BidCo S.a r.l. to acquire approximately 23% of the fully diluted shareholding in Kids Clinic India Ltd. The transaction constitutes an acquisition of a minority equity interest in a healthcare provider operating under the Cloudnine brand. NuageLux BidCo is a Luxembourg-incorporated private limited special purpose vehicle, ultimately controlled by Permira Holdings Ltd.
October 14, 2026
Show AI Summary
Competition clearance permits development finance and alternative investment funds to acquire equity in an agricultural commodities trading business.
Competition clearance has been granted for the acquisition of certain equity shareholding in FarMart Service Private Limited by Impact Fund Denmark, Belgian Investment Company for Developing Countries SA/NV, and Orios Fund IIIa. FarMart conducts business-to-business trading, purchasing and selling of agricultural products and commodities in India and international markets. The acquiring investors include development finance institutions and a sub-fund of a SEBI-registered Category II alternative investment fund.
October 14, 2026
Show AI Summary
Strategic bank restructuring requires independent valuation, qualified bidding, regulatory fit-and-proper review, and a compliance roadmap before ownership transfer.
Strategic restructuring of IDBI Bank Ltd. involves the sale of 60.72% of its shareholding to an approved Strategic Buyer, comprising holdings of the Government of India and LIC. Qualified bids were evaluated against a benchmark derived from independent Market Multiple and Asset Valuation methods, with volatile stock-market prices disregarded. Further steps require fit-and-proper assessment, a regulatory compliance roadmap, withdrawal of government and LIC board nominees, and management or sale of their residual shareholdings under applicable procedures.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

Tweet FAQs - GST

June 26, 2017

Contents
Acts
Rules & Regulations
Plus +
Summary
Note

Note

-

Bookmark

Print

Print

Tweet FAQs

The tweets received by askGST_GoI handle were scrutinized and developed into a short FAQ of 100 tweets.

S. No.

Questions / Tweets Received

Replies

Registration

1.

 

Does aggregate turnover include value of inward supplies received on which RCM is payable?

Refer Section 2(6) of CGST Act. Aggregate turnover does not include value of inward supplies on which tax is payable on reverse charge basis.

2.

 

What if the dealer migrated with wrong PAN as the status of firm was changed from proprietorship to partnership?

New registration would be required as partnership firm would have new PAN.

3.

 

A taxable person’s business is in many states. All supplies are below 10 Lakhs. He makes an Inter State supply from one state. Is he liable for registration?

He is liable to register if the aggregate turnover (all India) is more than 20 lacs or if he is engaged in inter-State supplies.

4.

 

Can we use provisional GSTIN or do we get new GSTIN? Can we start using provisional GSTIN till new one is issued?

Provisional GSTIN (PID) should be converted into final GSTIN within 90 days. Yes, provisional GSTIN can be used till final GSTIN is issued. PID & final GSTIN would be same.

5.

 

Whether trader of country liquor is required to migrate to GST from VAT as liquor is out of GST law?

If the person is involved in 100% supply of goods which are not liable for GST, then no registration is required.

6.

 

Not liable to tax as mentioned u/s 23 of CGST means nil rated supply or abated value of supply?

Not liable to tax means supplies which is not leviable to tax under the CGST/SGST/IGST Act. Please refer to definition under Section 2(78) of the CGST Act.

7.

 

Whether civil contractor doing projects in various states requires separate registration for all states or a single registration at state of head office will suffice?

A supplier of service will have to register at the location from where he is supplying services.

8.

 

Whether aggregate turnover includes turnover of supplies on which tax is payable by the recipient under reverse charge?

Outward supplies on which tax is paid on reverse charge basis by the recipient will be included in the aggregate turnover of the supplier.

9.

 

If there are two SEZ units within same state, whether two registrations are required to be obtained?

SEZs under same PAN in a state require one registration. Please see proviso to rule 8(1) of CGST Rules.

10.

 

Is an advocate providing interstate supply chargeable under Reverse Charge liable for registration?

Exemption from registration has been provided to such suppliers who are making only those supplies on which recipient is liable to discharge GST under RCM.

11.

 

When is registration in other state required? Will giving service from Nasik to other state require registration in other state?

If services are being provided from Nasik then registration is required to be taken only in Maharashtra and IGST to be paid on inter-state supplies.

12.

 

I have migrated under GST but want to register as ISD. Whether I can apply now & what is the procedure?

A separate & new registration is required for ISD. New registrations are being opened from 0800 hrs. on 25.06.2017.

13.

 

I have enrolled in GST but I forgot to enter SAC codes. What should I do? The status is migrated.

The same can be filled while filing FORM REG-26 for converting provisional ID to final registration.

14.

 

I have ST number on individual name and have migrated to GST.I wish to transfer this on my proprietorship firm.

This conversion may be done while filling FORM REG-26 for converting provisional ID to final registration.

15.

 

Please tell if rental income up to 20 lacs attracts GST or attracts any other charge?

GST is leviable only if aggregate turnover is more than 20 lacs. (Rs. 10 lacs in 11 special category States). For computing aggregate supplies turnover of all supplies made by you would be added.

16.

 

If someone trades only 0% GST items (grains, pulses) then is it necessary to register for GST, if the turnover exceeds ₹20 lacs?

A person dealing with 100% exempted supply is not liable to register irrespective of turnover.

17.

 

Is it correct that person dealing exclusively in NIL rated or exempt goods/ services liable to register if turnover > 20/10 Lakh?

There is no liability of registration if the person is dealing with 100% exempt supplies.

18.

 

If I register voluntarily though turnover is less than 20 Lakhs, am I required to pay tax from 1st supply I make post registration?

Yes, you would be treated as a normal taxable person.

19.

 

Whether a separate GSTIN would be allotted to a registered person for deducting TDS (he has PAN and TAN as well)?

Separate registration as tax deductor is required.

20.

 

Is separate registration required for trading and manufacturing by same entity in one state?

There will be only one registration per State for all activities.

21.

 

I am registered in TN and getting the service from unregistered dealer of AP, should I take registration in AP to discharge GST under RCM?

Any person who makes make inter-state taxable supply is required to take registration. Therefore in this case AP dealer shall take registration and pay tax.

22.

 

Is there any concept of area based exemption under GST?

There will be no area based exemptions in GST.

23.

 

If a company in Maharashtra holds only one event in Delhi, will they have to register in Delhi? Will paying IGST from Maharashtra suffice?

Only if you provide any supply from Delhi you need to take registration in Delhi. Else, registration at Mumbai is sufficient (and pay IGST on supplies made from Mumbai to Delhi)

24.

 

How long can I wait to register in GST ?

An unregistered person has 30 days to complete its registration formalities from its date of liability to obtain registration.

25.

 

What If I am not liable to register under GST but I was registered under Service tax ?

You can apply for cancellation of Provisional ID on or before 31st July 2017.

26.

 

When turnover of agents will be added to that of the principal for registration?

No.

27.

 

If I am not an existing taxpayer and wish to newly register under GST, when can I do so?

You would be able to apply for new registration at the GST Portal gst.gov.in from 0800 hrs. on 25th June 2017

Refund

28.

 

I have a pending export refund in Service Tax. What will happen?

Refunds under earlier laws will be given under the respective laws only.

29.

 

As an exporter, how do I ensure that my working capital is not blocked as refunds?

Appropriate provisions have been made in the law by providing for grant of 90% refund on provisional basis within 7 days from filing of registration.

Cess

30.

 

What will be the impact of GST on coal? Will the clean energy Cess on coal go or will it stay?

Clean Environmental Cess on coal will be replaced by GST Compensation Cess.

Composition Scheme

31.

 

Suppose I am in composition scheme in GST. If I purchase goods from unregistered person, then GST will be paid to Government by me or not?

Yes, you will be liable to pay tax on reverse charge basis for supplies from unregistered person.

Customs

32.

 

What duties will be levied on import of goods?

Customs duty and cess as applicable + IGST+ GST compensation cess. IGST and GST compensation cess shall be paid after adding all customs duty and customs cess to the value of imports.

Exports

33.

 

Present Procedures have Service Tax on Nepal, But no Goods Tax on Nepal. But, With GST, what tax will apply?

The export procedure for Nepal would be same as that to other Countries.

34.

 

Are there exemptions for SEZ? How will a SEZ transaction happen in GST regime?

Supplies to SEZs are zero-rated supplies as defined in Section 16 of IGST Act.

35.

 

How would the sale and purchase of goods to and from SEZ will be treated? Will it be export / input?

Supply to SEZs is zero rated supplies and supplies by SEZs are treated as imports.

36.

 

Please clarify status of international export freight under GST as the same was exempt under POPS rules. It is zero rated in most countries.

POS for transport of goods determinable in terms of sec 12(8) or sect 13(8) of IGST Act, 2017, depending upon location of service provider/service receiver. Exports are treated as zero rated supplies.

37.

 

When goods are being imported from SEZ who will pay IGST?

Such supply is treated as import and present procedure of payment of duty continues with the variation that IGST is levied in place of CVD.

38.

 

Who will pay IGST when goods are procured from SEZ? Today importer is paying both BCD and CVD.

Such supply is treated as import and present procedure of payment continues with the variation that IGST is levied in place of CVD.

Input Tax Credit

39.

 

Is SGST of Rajasthan charged by supplier on purchase from Rajasthan can be utilize for payment of SGST in Madhya Pradesh?

SGST of one State cannot be utilized for discharging of output tax liability of another State.

40.

 

How one can use SGST credit for the payment of IGST on another state?

SGST Credit can be used for payment of IGST liability under the same GSTIN only.

41.

 

Can one State CGST be used to pay another state CGST?

The CGST and SGST Credit for a State can be utilized for payment of their respective CGST/SGST liabilities within that State for the same GSTIN only.

42.

 

In case of service supplied, should the credit be given to the state where it is billed or the state it is rendered?

Tax will be collected in the State from which the supply is made. The supplier will collect IGST and the recipient will take IGST credit.

43.

 

Company is engaged in manufacturing of cement & power. Which rule to be referred for reversal of credit related to power business?

Detailed rules for reversal of ITC when the supplier is providing exempted and non-exempted supplies have been provided in ITC Rules.

44.

 

How will the credit / debit note from unregistered supplier be reported to GSTN and ITC claimed in the same?

Like invoice, credit/debit notes on behalf of unregistered person will be given by registered person only. Further, GSTR2 provides for reporting of same by the recipient.

Invoice

45.

 

A shop sells taxable & exempt products to the same person (B2C), is it required to issue tax invoice and bill of supply separately?

In such a case the person can issue one tax invoice for the taxable invoice and also declare exempted supply in the same invoice.

46.

 

Do registered dealers have to record Aadhaar/PAN while selling goods to unregistered dealers?

There is no requirement to take Aadhaar / PAN details of the customer under the GST Act.

47.

 

All expenses like freight / transport / packing which are charged in Sales Invoice are taxable in GST? How to charge in bill?

All expenses will have to be included in the value and invoice needs to be issued accordingly. Please refer to Section 15 of CGST Act and Invoice Rules.

48.

 

Can we move construction material to builders on delivery challan and issue tax invoice post completion of activity?

If the goods are meant to be supplied in the course of construction an invoice is necessary. If the goods are tools which are to be used for construction then delivery challan should be issued.

49.

 

How to treat following transaction in GST (i) Delivered supply shortages in Transit. (ii) Customer gets less quantity and pays less.

The supplier may issue credit note to the customers and adjust his liability.

50.

 

Should we issue Self Invoice for GST liability discharge on RCM or GST can be discharge through expenses booking voucher?

For RCM liabilities tax invoice has to be issued on self.

Returns

51.

 

What would be done on tax paid on advance receipt if advance has to be refunded in any circumstance

Advance refunded can be adjusted in return.

52.

 

Do registered dealers have to upload sale details of unregistered dealers also in GST?

Generally not. But required in case of inter-State supplies having invoice value of more than ₹ 2.50 Lakhs.

53.

 

How to incorporate two supplies in return for Pharma with same HSN code of four digits but having different tax rates?

Returns provide for furnishing rate wise details.

Supply

54.

 

Should we discharge GST liability for all reverse charge having small amounts of Transaction or any amount limit is there?

It has been decided that ₹ 5000/- per day exemption will be given in respect of supplies received from unregistered person. For supplies above this amount, a monthly consolidated bill can be raised.

55.

 

What is treatment of promotional item given free to end consumers by FMCG companies?

Tax will be charged only on the total consideration charged for such supply.

56.

 

How to comply with 9(4) of CGST Act if POS is in another State of the unregistered supplier

Any person making inter-state supply has to compulsorily obtain registration and therefore in such cases, section 9(4) will not come into play.

57.

 

Under supply from unregistered dealer the purchaser have to pay GST on RCM basis.so whether stipend paid to intern will also come under RCM?

Stipend paid to interns will be employer-employee transactions. Hence, not liable for GST.

58.

 

Salary by partnership firm to Partners as per Income Tax Act liable to GST?

Salary will not be liable for GST.

59.

 

Sec 9(4) of CGST Act 2017. Do I need to pay under RCM if I purchase stationary worth ₹ 100 from an unregistered stationery shop?

It has been decided that ₹ 5000/- per day exemption will be given in respect of supplies received from unregistered person.

60.

 

What is the treatment of promotional item given free to end consumers by FMCG companies? If taxable, whether ITC is allowed?

Tax is payable on consideration received for the supply.

61.

 

Whether GST will be leviable in case of returnable packing material like drums supplied with finished goods?

GST will be levied on the value charged for the supply only.

62.

 

How will disposal of scrap be treated in GST?

If the disposal is in the course or furtherance of business purposes, it will be considered as a supply.

63.

 

I am from MP and providing service to a customer in Maharashtra. I outsource the work to a service provider in Maharashtra, what tax i need to charge?

Generally these will be two supplies where the supplier from MP will charge IGST from the recipient in Maharashtra. Whereas, the service provider in Maharashtra will charge IGST from the recipient in MP.

64.

 

If address of buyer is Punjab and place of supply is same state of supplier (Rajasthan), then IGST will apply or CGST/SGST?

If the place of supply and the location of the supplier are in the same State then it will be intra-State supply and CGST / SGST will be applicable.

65.

 

Why is bifurcation of cash deposit as CGST-SGST-IGST required? Is cash held against a GSTIN, to be adjusted via return u/s 39

Three levies are under three different statutes and are required to be separately accounted for.

66.

 

What is the difference in between 'Nil rated', 'taxable at 0%' and exempted goods and services? Especially in relation with ITC

Exempt supply includes Nil rated (taxable at 0%) and non-Taxable supplies and no ITC is available for such supplies.

67.

 

Will professional tax will be abolished in Maharashtra after introducing of GST?

Professional tax is not a tax on supply of goods or services but on being in a profession. Professional tax not subsumed in GST.

68.

 

Employer provides bus service, meal coupon, telephone at residence, gives vehicle for official and personal use, uniform and shoes, any GST?

Where the value of such supplies is in the nature of gifts, no GST will apply till value of such gifts exceeds ₹ 50000/- in a financial year.

69.

 

The definition of composite supply and the description of same under Section 8 differ. Please explain consequences.

Section 2(30) defines what will be considered as a composite supply. Whereas, Section 8 provides that in case of a composite supply, the treatment for tax rate etc. will be that of principal supply.

70.

 

Whether slump sale will attract GST. If yes then under which Section?

It will have the same treatment as normal supply.

71.

 

Salary by Partnership firm to Partners as per Income Tax Act liable to GST? Partners are not employees of the firm.

Salary will not be leviable of GST.

Transition

72.

 

How do I avail transition credit ?

Transition credit can be availed by filing the respective forms under Transition rules upto 30.09.2017.

73.

 

Please provide the clarity on area based exemption 50/2003 in UK & HP.

Area based exemptions will not be continued under GST. It will be operated through the route of reimbursement as prescribed.

74.

 

We manufactured excisable goods. But unit availed the exception benefits 50/2003. What about my dealers stock?

The dealer will get deemed credit @ 40% / 60% of the CGST paid on supply of such goods in GST. If the goods are branded and greater than ₹ 25,000, full credit using CTD can be availed.

75.

 

A trader buys from manufacturer not registered in excise as his turnover is below 1.5cr. Then in such case can trader take ITC on stock up to 40%?

Yes deemed credit will be available subject to satisfaction of other conditions as prescribed.

76.

 

I am a trader. I have excise paid purchase invoice. Whether I can claim credit of full excise duty on closing stock of 1st July 2017

Full transition credit of such duty will be available on stock in hand in respect of which you have duty paying excise document subject to conditions under Section 140(3) of the CGST Act.

77.

 

If a trader purchases directly from manufacturer & has documents showing excise, will he get full excise credit or 40% of CGST?

Full transition credit of such duty will be available on stock in hand in respect of which you have duty paying excise document subject to conditions under Section 140(3) of the CGST Act.

78.

 

If a fsd purchases directly from manufacturer and has value cum excise duty and excise duty is not separately shown will he get full credit?

Full transition credit of such duty will be available on stock in hand in respect of which you have duty paying excise document subject to conditions under Section 140(3) of the CGST Act.

79.

 

Is the full excise credit also available to traders who purchases directly from manufacturers and excise is separately shown in invoice?

Full transition credit of such duty will be available on stock in hand in respect of which you have duty paying excise document subject to conditions under Section 140(3) of the CGST Act.

80.

 

In June 17 Vat return no amount carried forward & held stock of ₹ 50 lakhs. Then can we take credit of that stock or not?

The supplier would be eligible to carry forward the closing balance of ITC from VAT return for June 17.

81.

 

What will be the impact of closing stock which has been already paid vat on 1st July?

The supplier would be eligible to carry forward ITC on such stock from VAT return for June 17.

82.

 

If in Vat return refund claimed in June 17 & no balance credit in GST. Then what's the position of submission of Form C

Refund claimed under existing law will be handled as per the provisions of the existing law. Form C to be submitted in terms of provision of Rule 1(1) of Transition Rules.

83.

 

Some service was provided on 28.06.2017 but Invoice will be raised on 05.07.2017. Whether we have to charge Service Tax or GST?

If Point of Tax arises after appointed date, then GST will be chargeable on such supply.

84.

 

Would we be eligible for credit on Capital Goods in transit and received post GST?

No provision for such credit is there in GST law.

85.

 

What about VAT balance pending on transition date?

Balance VAT credit in the return will be transferred to new provisional ID as SGST Credit.

86.

What about deemed export against Form H?

Form H will not be there in GST.

87.

 

Who will bear tax difference on closing stocks as on 30th June 2017? Whether the manufacturer/dealer or government?

Closing ITC in VAT return will be allowed to be carry forward in GST.

88.

 

How will we get input credit on stock in hand for spare parts billed from other state, excise, CST and entry tax paid?

For all inputs with duty paying documents available respective CGST / SGST credit will be available. But credit of CST will not be available.

89.

 

A trader buys from manufacturer not registered in excise as his turnover is below 1.5 crore. then in such case can traders take ITC on stock up to 40%

Deemed Credit will be available on stock in hand provided the conditions of section 140(3) read with Rule 1(4) of Transition Rules are satisfied.

90.

 

Whether we will be eligible for credit of duty paid on Capital Goods in transit and received post GST?

No such provision in GST.

91.

 

Can ITC of Swach Bharat Cess or Krishi Kalyan Cess be carried forward under GST?

No

92.

 

Will Clean Energy CESS on imported Coal @ ₹ 400 PMT continue to be applicable in GST?

No. Clean Energy Cess is being repealed. Coal, however, will be subject to compensation cess @ ₹ 400/- per tonne.

93.

 

Whether closing balance of edu cess and secondary higher education cess prior to 1st Mar 2015 can be carried forward in GST?

No it will not be carried forward in GST as it is not covered by definition of “eligible duties and taxes” under Section 140 of the CGST Act.

94.

 

Can u clarify for 40℅ benefit on closing stock does 1 year limit apply or not ?

Deemed credit will be available for all stock procured within a 1 year period.

95.

 

Till what time is transition credit available? Where do I need to declare my input stock?

The window to declare transition credit forms is three months from the appointed day. Please refer to transition rules for more details.

UTGST

96.

 

Will there be GST in A&N Islands as previously there was no VAT

Yes. For supplies within A&N, CGST plus UTGST would be leviable.

Others

97.

 

Whether IGST would be levied twice on high seas sales? First on high seas sales and second on custom clearance. IGST paid on 1 available as ITC?

IGST shall be levied only once on imports.

98.

 

Will Krishi Mandi Fee (imposed in U.P.) be waived off in GST?

GST does not concern such fee so GST does not affect it.

99.

 

Is E-Way Bill applicable from 1st July 2017

The present system for E-way Bill in States to continue, till the E-Way Bill procedures are finalized.

100.

 

Is there a sunset clause for Anti-Profiteering law?

Yes, the sunset clause for Anti-profiteering Authority is of two years.

It should be noted that the tweets received or the replies quoted are only for educational and guidance purposes and do not hold any legal validity.

Topics

Acts Income Tax