Hello Everyone,

Got a mail from CTO Department requesting Revenue details for the period July 2017 to Feb 2018 with corresponding period VAT+ CST Collections.

Requesting to please guide on how to fillup the sheet.

As per my understanding 

Monthly SGST Revenue details should be given 

My doubt is SGST collections should be total wise or breakup of each and every sale.

And what reasons should be given if there are any differeces.

Thanks!

Download report from below liNk:
https://drive.google.com/file/d/1qUGJTyEEFZGRBXcXB2zcC3r1DclrY4r9/view?usp=drivesdk

Sir,
Company intend to take all staffs for picnic. Expenses incurred for Resort and GST on it can be claimed ?
Please let me know
thanks
Vinod

We are GST Holder under Composition Scheme, now we want to Regular Scheme from 1st April 2018, my question is when we apply. can we apply in the month of April 2018. and what we do for claim ITC on Stock.

Dear Experts,
One of my client has a practice of purchasing goods in bulk required for 3-4 months and for the succeeding months he only sells the goods till he finds another opportunity to purchase in bulk again. The problem we are facing is that:

Suppose in month 1 the purchases is made for Rs. 1,00,00,000 (all local) and sales of Rs. 40,00,000/- (50% interstate, 50% local) and balance is in stock. The GST position will be as follows

GST Rate = 5%
Input CGST = 2,50,000/- Input SGST = 2,50,000/-
Output IGST = 1,00,000/- Output CGST = 50,000/- Output SGST = 50,000/-

The GST portal first uses the entire CGST balance to adjust against IGST liability. It does not permit to use SGST balance till CGST is completely exhausted. So the after set-off the position will be:

CGST Credit = 1,00,000/- SGST Credit = 2,00,000/-

In month 2 again Sales of Rs. 40,00,000/- (50-50) and no purchase

Output IGST = 1,00,000/- Output CGST = 50,000/- Output SGST = 50,000/-

So the after set-off the position will be:

CGST Credit = NIL SGST Credit = 1,00,000/-

Now the problem arise in month 3 taking the sales of Rs. 10,00,000/- and no purchase

Output IGST = 25,000/- Output CGST = 12,500/- Output SGST = 12,500/-

Since the CGST balance is NIL we will have to CGST.
However, this is due to the compulsion made by the GST portal. If I were allowed to set-off CGST or SGST credit evenly, this situation would not have arisen. The law does not bars the same but the portal does.

This situation worsens in case of textile industry where the Raw material is taxed @ 12% and sales is taxed @ 5% with no refund of ITC overflow. So, whatever payment the taxpayer makes due to this situation its his cash loss. He already have credit piled up but cannot use and consequently have to make payment.

Please guide with our valuable suggestion to avoid such situation and mitigate the losses caused.

What will be the GST on room rent income below Rs.1000/- in case of Charitable Trust? For Example, If a person stays in Room of Trust for Rs.800 per day for two days and pays Rs.1600 then is he liable to pay GST on Rs.1600/-?

Dear Sir,

I want to Know About Export Services on manpower recruitement gst is applicalbe.If I will raise the bill in Foreign Payment like dirhan,Kuwaiti dinar Like 1000 dirham & 2500 Kuwaiti dinar gst is applicable.If gst is applicable then what category of gst IGST or SGST or CGST.Amt.recd from Foreign payment tfd of AED But Payment recd in India in bank Indian Currency please solve my query.and which gst is consider inclusive in total amt.or Basic Amt.& then gst charge

Dear Sir,

As per 26th meeting of GST council meeting Reverse charge has postponed till 30th June 2018 so may i know that Reverse charge will be continue applicable on GTA for the period of 29th March 2018 to 30th June 2018.

Sir,

Mr X has filled Trans-1 on the basis of Invoice on which seperate credit is shown ?

my question is what entry is passed in books for such credit

please reply on uregent

What is the time period to settle vendor's bills payment if we have taken input credit from the bill.

One of my client is having proprietorship firm ABC is registered under GST for selling goods, due to excess space available he decided to give the half of the premises available with him in his name on rent. Other proprietorship firm XYZ has entered into rental agreement. So whether ABC has to charge GST on Rental income invoice raised to XYZ. Kindly confirm..