Samki (Wizard) (25 Points)
01 August 2017Hello Friends,
I am not a CA and have zero knowledge of tax. but as I hear there is no gst for educational books. I wish to know when I file returns . can I claim credit for GST charged by the above entities or I have to also add seperate gst in my billing to the customer at 18% ?
Ayan Binani
(Deputy Manager(Finance)-CA)
(60 Points)
Replied 01 August 2017
Sir,
To the best of my understanding, your item is printed books which falls under HSN Code 4901, which is chargeable to GST at NIL rate. The same has been exempted vide Notification No. 02/2017.
Since your goods are exempted, you are not entitled to take Input Tax Credit.
Regards.
Shashikant Varshney
(Chartered Accountant)
(763 Points)
Replied 01 August 2017
As there is no GST on your final Product (i.e. Books) you can't charge GST in your billings. If you want to claim refund of tax charged on you (i.e. Printer's Bill, Payment Gateway Bill) then you need to take registration and file refund under GST.
Shashikant Varshney
(Chartered Accountant)
(763 Points)
Replied 01 August 2017
As there is no GST on your final Product (i.e. Books) you can't charge GST in your billings. If you want to claim refund of tax charged on you (i.e. Printer's Bill, Payment Gateway Bill) then you need to take registration and file refund under GST.
Shashikant Varshney
(Chartered Accountant)
(763 Points)
Replied 01 August 2017
Sorry Last Line need a correction as you can't claim refund as per section 54.
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