Section 17(5) of the Central Goods and Services Act, 2017 provides that input tax credit in respect of the following shall not be available-

(a) motor vehicles and other conveyances Section 17(5) of the Central Goods and Services Act, 2017 provides that input tax credit in respect of the following shall not be available-

(a) motor vehicles and other conveyances except when they are used-

(i) for making the following taxable supplies, namely-

(A) further supply of such vehicles or conveyances; or

(B) transportation of passengers; or

(C) imparting training on driving, flying, navigating such vehicles or conveyances;

(ii) for transportation of goods;

The while notifying the gst rates on GTA why did they say that on ITC is available for gta?Can't we claim any credit for GTA for the tax paid on reverse charge

Name Category HSN Code gst rate
Bag 18
Cable 28
Ganesh Idol 0
Headphone 18
Intrnal Hard Drive 18
Keyboard 18
LED Bulb 12
Mobile 12
Mouse 18
Pen Drive 12
Power Bank 28
Scanner 18
Selfie Stick 18
Smart Box 18
Tablet 18
Tablet+Laptop 18
VR Box 18
watches 28
Grand Total

we are purchasing goods from unregistered persons all cash purchases nearly 100 bills below 10000 under gst whether it is necessary to make 100 payment voucher.

Excise duty paid under inter-state purchase shown separately in Invoice is available for Input or not for Jewelry retailer ??

An invoice for purchase of machinery raised on June and the payment for the same will be on delivery on August.Wether the buyer has to pay GST ?

An eye surgeon is carrying out eye surgeries and he charges Rs 20,000 per patient as a package which includes charges for intra ocular lenses,some medicines during and after the surgery and his own service charges. Since medical services are exempt under GST but it is a composite service as he is also providing intra ocular lenses and medicines for the surgery . His annual receipts are about 40 Lakh rupees.Whether he has output liability under the GST for intraocular lenses and medicines provided?

Dear Sir,
If we want to transfer stock from one branch (TN )to another branch (AP), then what will be tax rate if it is for registered dealer.
GST tax rate for the product is 28 %.

Do we need to pay 28 % or 2 % on transfer of stock from one state to another state

Hi,
Before I begin, I have a disclaimer. I have no accounting background, so please do kindly explain as if you are giving your explanation to a school kid. Thanks.

My Case:
I am running a Spoken English training center ( startup ) in Kerala. We just started 1 year ago and till date our annual turn over is less than 5 lakhs. However, since I expected an increase in our turn over (surpassing 9 Lakhs threshold of service tax) in the coming fiscal year, I actually did enroll for Service Tax just to be prepared so that I can start collecting and filing once we actually cross the threshold.

Then the GST storm has hit and all my acquired knowledge via, articles, blogs and news about taxation is now a cloud.
I will be getting a provisional id and a password from ACES post 25th and I am supposedly required to enroll for the GST in 6 months time, however as per my projection I won't be crossing the 19 lakh threshold this fiscal year.

My Queries:

1: Am I liable to enroll for GST?

2: What would happen if I don't enroll with in 6 months? If my provisional id gets cancelled, do I have an option to enroll later? would that be a complicated step?

3: What would happen if I cross 9 lakh threshold for the Service Tax which I am already registered with?

4: If I enroll for GST, should I start collecting and filing/paying GST irrespective of my business crossing the threshold which is 19 lakhs?

5: Even if I start collecting GST for my services, is there any way I can not collect for certain services for example:

Assume I have a tie up with another institution (hereafter referred to as A) where they regularly refer students to my place. 'A' collects a caution deposit (eg. 5000/-) from the students and pays an amount (eg. 3000/-) to us as our service charges. They get to keep the balance. Let us assume, 'A' is not willing to pay the extra 18% GST, so I would have to make the 3000/- that I get from them inclusive of tax so that leaves me with just 2460/- which would definitely hurt my business. However, I can and will be able to collect 18% tax directly from other students who directly enroll at my institution. So how do I go about with the GST? How can I not pay GST for the 3000/- that I directly get from A? and pay all the taxes I collect directly from other sources? Is there any other option to deal with such a situation?

Looking forward to a healthy discussion and answers from all the experts of this community.

Thanks a ton in advance.
Regards
Alex

Need GST Rates along with HSN Codes.

Is it mandatory for MF Distributors to register for GST even if the annual TO is less than Rs 20 Lacs, as FAQ from one of the AMC (https://www.miraeassetmf.co.in/mailers/gst_faq/GST_FAQs.pdf) states that all payments under GST will Attract Tax and that there is No Threshold limit that is applicable.