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 3 weeks 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.

Helpful
Helpful
Share
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 1 month 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.

Helpful
Helpful
Share
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

2 Response(s)

Posted 1 month 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.

Helpful
Helpful
Share
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 3 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.

Helpful
Helpful
Share
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 3 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

Helpful
Helpful
Share
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 4 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

Helpful
Helpful
Share
Dead Items Dead Items

How to deal with dead items in GST & Income Tax

1 Response(s)

Posted 6 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.

Helpful
Helpful
Share
GST ITC Benefits GST ITC Benefits

I booked under construction property in July 2017 after imposition GST (1st July 2017), Only 1st slab(20%) of building is completed at that time, Building construction start prior July 2017, I did agr

1 Response(s)

Posted 6 months ago


A. Dear Sir,
You may approach concerned chartered accountant or any other person who is expert in the above matter.

Helpful
Helpful
Share
Adjustment of Input Tax credit. Adjustment of Input Tax credit.

As an Accountant I am asking this question. Our Shop ( Retail dealer) in July had out put of CGST and SGST of Rs.20000/- each. Our supplier did not file his GSTR 1 in time. Hence our ITC of July is sh

3 Response(s)

Posted 7 months ago


A. Dear Client,
As per the condition prescribed under Section 27(3) of the GST Law every taxpayer has to pay tax compulsorily for filling GST Return and the valid return will be used for claiming Input Tax Credit.
Thank You.

Helpful
Helpful
Share
REFUND Appeal REFUND Appeal

we have appeared for gst audit for the period 2017-18 and 2018-19 and they have raised demand for wrong head tax payment of Rs.620154 and we have paid the same through Drc-03 and they also told claim

3 Response(s)

Posted 8 months ago


A. The limitation period that applies for an application of a tax refund is 2 years irrespective of the fact that you have received an audit report before or after the refund application.

Thank you very much

Helpful
Helpful
Share