Our Accounting mathod is receipt/cash based

Revenue (Total Turover is >50L p.a.)
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Till 30th Jun we have raised our invoice to our customer with Service Tax @ 15%. Do we need to deposit service tax for all the inovices and file the ST return from Apr 17 to Mar 17 even if we have received the collection against these in coming months (Jul 17, Aug 17 & Sep 17)?

Ans :-


We have paid GST on 18-Aug-2017 of all invoices raised in the month of Jul 17 and GST paid on 18-Sep-2017 of all invoices raised in the month of Aug 17. Is this correct under cash based accounting even if we have not received payment of the entire invoice till date?

Ans :-


If we need to pay GST on accrual basis then our do we account our revenue in our books of account (still on receipt/cash basis or accrual basis)? e.g. : Invoice Date is : 10-Jul-2017, GST Paid on 18-Aug-2017 and Payment received against this invoice is on 10-Sep-2017. On which date we need to book this invoice in our books of accounts ?

Ans :-


Expenditure
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Note: all supply of services taken before invoice date.

Our GST register customers are raising invoice to us and we are getting auto updated GST entries on GST portal. Do we need to take input of all the eligible input credit entries in the same month or we should wait till the payment to supplier ? e.g. Supplier Invoice date is 15-Jul-2017 and he uploaded the invoice on GST portal on same date and the same invoice reflecting in our GSTR-2, but we have made the payment of this invoice on 25-Aug-2017. So Under cash based accounting, do we need to take input in the month of Jul 17 or in the month of Aug 17 ? if we need to take input in the month of Jul 17 then should we post the same in our books accounts in the month of Jul 17 (date of Invoice) or in the month of Aug 17 (date of Payment).

Ans :-


If supplier supplies the service in pre-GST period and raised the invoice in pre-GST period, we have made the payment in the month of Jul 17 and Aug 17 and same invoice falls under RCM. Then are we liable pay GST under RCM under cash based acccounting or we should leave this because this is pertains to pre-GST period?

Ans :-


Suppose, There is a invoice dated pre-GST period (service taken pre-GST period) and we have made some payment against the invoice in pre-GST period but some balance paid in post-GST period. The same invoice not falling under Service Tax RCM (pre-GST) but falling under GST RCM towards > 5000 in a day (post-GST). Do we need to pay GST on balance amount which we have paid in post-GST period? If we need to pay GST on balance bill amount then how will we post this transaction in our books of accounts.

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If we should pay GST on outward supply of service on accrual basis then should we follow the same practice for inward supply of services under cash accounting or we should follow cash based method for inward supply of services.

Ans :-

We paid amount for construction of temple work ( Not business actvity ) contractor
raised bill on us . Contractor is unregistered person.

In above case can we are liable to pay GST on RCM basis. or not liable to pay GST

because it is a charity/ Philanthropic activity.

Please guide us

Thanking You

Rajkumar Gutti

Thank you for your response sir.

This flat is for my personal possession and I am not selling it to anyone. I read in one of the online site's that GST would be applicable only when there is a sale transaction but in my case there is no sale transaction. I am also not taking monitory benefit from Builder other than my flat area share from the builder. Thanks, please advise.

Nitin

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when create new username and new password system display "system error occurred. please try after sometime on gst portal"

Dear Experts,

If transporter shown gst sepretely in invoice i.e gst paid by transporter then can i take credit of such gst amount or pay under rcm plz suggest.

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What will be impact on those builder who have sublet whole contract of construction to construction comp and project has completed 1 year and yet 2 more years to go? In Earlier law Vat tds provisions there. What is the process in this case? Any idea?

Hello Sir

Need your help and suggestion

I have entered into a development agreement with a builder to develop our land for residential apartment on 50:50 ratio. The development agreement and supplementary agreement is completed with the builder and the allotment of flat ( Land owner and Builder) share details is also registered with Sub-Registrar office at Hyderabad before 1 July 2017. The apartment is now under final stage of construction and possession certificate is not yet received.

Now Builder is advising us that we need to pay GST on our share of flats, request you to please advise is the GST applicable to us or not, as the supplementary agreement is already completed before the implementation of GST on 1st July 2017. Your help and your suggestions would be appreciated.

Request you to please revert with your advise. Thanks.

Note: In development agreement it was agreed that the builder would bear all the taxes and charges applicable for the development of apartment.

Thanks
Nitin

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