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
2 years 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.
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 years 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
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
2 years 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
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.
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
2 years ago
A. Dear Sir,
You may approach concerned chartered accountant or any other person who is expert in the above matter.
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
2 years 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.
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
2 years 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
Adv. Sarika Khude
GST for income generated from international transaction.
Hello, I have registered a business on Jan 2020 on the GST portal - gst.gov.in and my business generates income from international transactions that don't happen in India, so since then I have been fi
2 years ago
A. Dear Client,
You may get appropriate advice from the chartered accountant or concerned expert in the field. You cannot file a Nil returns statement when you are generating some income through International transactions so please get legalize your transactions.
Thank you!
Annual GST Return Filing for 2019-20
Hello, I have registered a business on Jan 2020 on the GST portal - gst.gov.in and my business generates income from international transactions that don't happen in India, so since then I have been fi
2 years ago
A. Hi,
Annual return is filed within 60 days from the date on which the Annual General Meeting (AGM) is held or if no AGM is held then you have to file an annual return within 60 days from the date on which the AGM should have been held together with the statement specifying the reasons for not holding the AGM with such fees or additional fees as may be prescribed. The first AGM should be held within 18 months from the date of incorporation. So, if you have not conducted an AGM from January 2020 t ...ReadMore
Service provider didn't gave me proper GSTIN bill
Hi Last year I took packers and movers service along with godown in Pune, Maharastra. For last one year my luggage was lying in his godown. Last month, I took my luggage back to my home town. As promi
2 years ago
A. Hi,
A person can report a GST fraud in many ways including visiting the official portal cbec-gst.gov.in, clicking on CBEC MITRA Helpdesk and choosing "Raise Web Ticket" to file the complaint. Alternatively, people can email the complaint to [email protected].
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