Gst exemption on purchasing of a new machine
Gst exemption on purchasing of a new machine
Iam planning to start a msme startup, fornthan o have to purchase a machines, with the cost of machine 18% of gst is laying, is it 18% gst on purchase of machine can be exempt? If then how i have to
8 months ago
A. Dear client,
When you acquire something, you must pay GST on it. You can later receive an input tax credit for the GST paid on your purchases. Similarly, if you buy machinery for your factory, you must pay the corresponding GST rate. If your State or Central Government issues such circulars, the GST paid can be claimed as a credit in the same way as inputs.
LUT obtained after export of zero rated service
I am software consultant providing service to UK based company. I make zero rated supply of service each month. In FY23, I made zero rated supply of service from Apr onwards and realized in the month
8 months ago
A. Dear client,
Tax and Interest Payment: If you are making zero-rated supplies of services, you are generally not required to pay Goods and Services Tax (GST) on those supplies. However, if you did not have an active Letter of Undertaking (LUT) during the period when you made the zero-rated supplies, you might have inadvertently treated the supplies as taxable supplies and not claimed any input tax credit. In such a case, you may need to consult a tax advisor to rectify the situation and understa ...ReadMore
Missed some invoices in previous financial year
Hi, So my revenue is under Rs. 20 lakhs and I am under quarterly return filing scheme. During filing I missed some of the invoices in the previous financial year. What to do? Shall I file it now? And
9 months ago
A. Dear client,
You can get in touch with a good auditor in your city who may give you some sound advice
GST on Affiliate income
Will we have to pay GST on affiliate income (if amount exceeds to 20 lakhs in a financial yaer ?) For example I am an affiliate at amazon india and getting commision from company when sale is complet
9 months ago
A. Dear client,
Until and unless your total affiliation income (Provided no other income) or Affiliation income and other services / Business turnover is not exceeding 20 Lakhs, you don’t need to pay GST. If you have taken voluntary registration, you must pay tax.
Affiliation Income is subjected to GST and you will get the GST from the website for which you are promoting. So you are a service provider and the company is a recipient and whatever the company is paying to you will deemed to be incl ...ReadMore
GST Summons on fake address given by defaulter
House number of my uncle was given by a gst defaulter company as an address of proof, I am caretaker of that house. Now the GST investigating officer reached at given address and then came to my (care
11 months ago
A. Hi client,
There must be some document, of the person who has issued your address to be his address. Inform the same to the concerned office by writing an application. Visit the office/ department physically to sort this out.
GST concession on Residential property
I have booked an apartment with Casagrand Builders in Apr2019 with 12%. I opted PMAY and subsidy got credited into the loan account on Mar 2020. During Nov 2022 only i came to know that, we also get 4
1 year ago
A. Hello Sir,
I haven't understood your facts which you have provided. Please consult with someone who is expert in this field.
Thank you
GST for Salary re payment during Notice period.
Hello, I am serving a notice period of 45 days in my company after 45 days i have to pay rest of the amount to the company but my company is adding GST and other amounts along with my salary is it nec
1 year ago
A. GST is not applicable for salary if any GST is charged by your employer which is not correct. i hope you are not an employee of the company may you be a service provider to the company. this you can verify in your appointment order and confirm.
GST Show Cause Notice for not filing GSTR3B for Nov 2022
I am a student and got my GSTIN in Oct22. I did not know how to file GSTR 3B and could not file it for Nov22(Nil return). Yesterday I got a show cause notice with a 50000/- penalty under sec125,127. I
1 year ago
A. First reply to show cause notice after filing 3b, this will be rectified automatically because since you have time to resolve.
GST charged on commission from employer
Hello team, I am working for a company where I make sales call working from home pitching the company's online product (course). I work on a 10% commission basis on each sale and the average price of
1 year ago
A. GST is an application for service provided, hence you are liable for GST. This GST you can adjust wherever you want to pay when utilizing services from others.
Partner opened another company and not willing to pay the pending GST
Dear Sir/Madam, I have been facing this issue for quite some time now. I and my partner started a Pvt. Ltd. company with 50% shares each. I have been involved in pretty much everything, creating desig
1 year ago
A. Dear Client
You should counsel him first with proper reasons and for the welfare of the company. If you are looking for legal remedies, you should look for contractual obligations if signed or if not, you should frame a valid contract and then get it signed for proper enforcement of the duties.
Hope it helps
