GST on Export of Services GST on Export of Services

Dear Sir We are quoting to a USA based company for providing Engineering services for their projects outside India. Our resources will be working from India only. Monthly payments will be made to us

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Posted 1 month ago


A. In my humble suggestion, all imports into India are subject to GST in the form of an IGST levy and 10% of the value of the items is the rate.

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GST amount Debit -  spares parts payments GST amount Debit - spares parts payments

Our A client made spares parts payments onbehalf of us. The supplier issue bill in the name of A party inculding IGST. The A party register in GST. Can A party debit to us inclulding GST amount!

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Posted 1 month ago


A. Dear Sir,
It may happen but A must debit the same to your account. Better to ask this question to any Auditor dealing with GST matters.

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GST Fraud-I have purchased goods GST Fraud-I have purchased goods

I have purchased goods from shop. That shop keeper had issued me GST invoices and he uploaded also on his GSTR1 return also which i claimed in my buisness but after 2 months the dealer has amended the

3 Response(s)

Posted 3 months ago


A. Dear Sir,

You have to lodge complaint with concerned GST authorities and also lodge complaint with Police so that he cannot do same mischief with other customers.

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Supply of service to merchant exporter Supply of service to merchant exporter

I am a jobworker supplying service. Recently I received a consignment from merchant exporter and he is insisting me on charging concessional rate of 0.1% however I am aware that 0.1% can be charged o

2 Response(s)

Posted 5 months ago


A. Dear Client,

As you mentioned correctly that 0.1% is charged on sales of good and not on services supplied.
Send him the invoice followed by a legal notice for recovery of dues.

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GST refund for PMAY beneficiaries GST refund for PMAY beneficiaries

I'd booked an under construction flat in Pune in Dec 2018 and had applied for PMAY in Jan 2019 since the project is registered under PMAY. As per the agreement done in Dec 2018, I continued to pay 12%

3 Response(s)

Posted 5 months ago


A. Dear Client,

As per the facts which have been provided, if your builder does not refund the 4% you can send a legal notice and if nothing is done after that as well you can file a case in the court.

Thank You.

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Gst related - claiming input tax credit Gst related - claiming input tax credit

Is claiming input tax credit necessary in gst. I have not been claiming input tax credit wanna know if it can be a problem

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Posted 6 months ago


A. Dear Sir,
It is better to claim input tax credit to avoid future complications. In the meanwhile to get more clarity you may approach any Auditor or chartered accountant.

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GST - Can Pharma formulation industry sells API GST - Can Pharma formulation industry sells API

1. Can Pharma formulation industry sells API (Active Pharma Ingredients) product (as such) which is imported under advance authorization with nil rate of duties/taxes to locally in India with GST in a

1 Response(s)

Posted 7 months ago


A. Dear client,
1. GST Charges are levied on the sale of medicines being imported.
2. Nominal GST rate of 0.1%under CGST
3. Yes, Pharma company can export the final product. An advanced authorization is issued to allow duty free import of input, which is physically incorporated in export product.
Hope it clarify your requirement.
Thank you.

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Free e magazine - Optional subscription are taxable under GST Free e magazine - Optional subscription are taxable under GST

We are running a Free Online E Magazine . If we introduce Optional Subscription , It is taxable under GST . It is under Goods or Service . And Let me know HSN Code for Optional Subscription

2 Response(s)

Posted 7 months ago


A. Dear Client,
As per the provisions of GST Laws, supply of Printed version of Magazines, Periodicals, News Journals, etc. are exempt and not chargeable to GST, however, supply of soft copies of these Magazines and Journals are taxable.
Thankyou

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GST revision for PMAY eligibility GST revision for PMAY eligibility

Hi, I would like to know whether the GST revision of 12% to 8% for PMAY eligible holders which was applied previously, is applicable for the current 5% and reduce it to 1%. Here is the need for this

1 Response(s)

Posted 8 months ago


A. Dear Client.
For residential (real estate) transactions, there is a new GST rate for flat purchases:
1. GST on a flat purchase of residential properties that are not part of the affordable housing segment will be paid at 5% without an input tax credit (ITC).
2. Residential properties that fall under the affordable housing category will be subject to a 1% GST without an ITC.

If a housing unit costs less than Rs 45 lakhs in any Indian city, it is considered affordable housing. According to the go ...ReadMore

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Dead Items Dead Items

How to deal with dead items in GST & Income Tax

1 Response(s)

Posted 10 months ago


A. Dear Sir/ Ma'am,
You need to specify exactly about the item that is dead and bothering you and provide more details to get back any correct answer for your question.
Thank you. Have a very nice day.

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