Dear All,

Please kindly suggest your views relating to Input Tax credit in Asset Accounting:-

As per notification of the govt. After purchasing a Capital Asset, if we avail depreciation against it under Income Tax Act, ITC in GST is totally disallowed.
And then after certain year of use if we sale the asset we need to charge GST as a regular gst tax payer.

The resultant effect is that it is better to pay the GST without availing any credit just to avoid unnecessary notices & show cause orders from department. (Keeping in view of availing depreciation during certain year of use)

I am engaged in plastic manufacturing and reprocessing and already obtained Gat no. On that business now I want to surgical business trading item shall I do in same GST NO. Place of supply is same as of plastic business. HSN CODE IS DIFFER..??

please guide,
Due to Covid 19 , my landlord is not charging rent for Apr-2020.
Whether GST has to be paid on Notional Rent as per rent deed or no gst payable because no gst invoice issued/nil value invoice issued.

hello please guide me how i can calculated 42/43 reversal

i have find ITC reversal amount through following formula _ Exempted turnover /Total Turnover

kindly guide exempted turnover definition ??? as per my knowledge exempted turnover means Zero rated sales (export Sales )+ Nil rated sales +Non GST sales

Kindly guide

A freelancer software consultant likely to have 25-30lakhs turnover p.a for the current year from export software services has obtained recently the following registrations,
1. GST Regn
2. LUT fiing
3. IEC Regn

He provides his services via Upwork website-
1. Where he provides services to American clients but receives forex from Upwork.
2. Also, he sometimes directly provides services to American clients and receives forex in his payment gateway directly from American clients(ex:paypal)

In both the above cases, neither Upwork nor American client asks for his Export bill because they maintain a statement of hours worked and based on that they pay the Software consultant.

So, to satisfy LUT conditions in gst one has to
1. To receive forex (consideration) for his services
2. Obtain BRC/FIRC from the bank
and
3. Raise an Export Invoice for Services

In the said case, he receives forex and can request the banker for BRC/FIRC.

But how do we invoice the Upwork website or the American client ?

My doubts here are,
1. Should we raise an Export Invoice and mail them
2. Does our Invoice need acceptance from the recipient of Services
3. Or can we just raise the Invoice and keep it in our records and not submit to them.

Kindly guide me over these doubts. Also, kindly let me know if i have missed any points as far as export of services are concerned.

A gst registered regular scheme dealer service income from functional hall rents.
Income and expenses detailes for one month:
Rental income from functional hall rs.3 lacs
Advance from customers rs.50,000/-
Salary paid to workers rs.15000/-
Electricity charges paid rs.20000/-
Cleaning charges rs.1000/-
Staff welfare exp rs.500/-
How to calculate input itc value and output itc claim value and net gst payble show in gstr3b and gstr1 returns.

A limited co. Wants to recruite candidates for a post.
Wheather gst is applicable on application form fee.

Respected sir,
My client cancelled gst Registration no. through gst portal because His business turnover within limits and filed nill return....Gst no. Cancelled but still he login in it but no return available....while doing business he needs Gst no...How we get new GST registration no....due to Gst cancelled but still login in it but can't available return...
Suggest how to get new registration no?

Do reply sir

Thanking you

Dear Sirs/Madams,

>> Suppose there are 3 companies : A, B and C
>> A is a subcontractor for B for which B pays processing charges to A
B sells the finished goods to C
>> On account of the pandemic of Coronavirus, C asks B to pay some "additional/extra"
processing charges to A on equal sharing basis (Additional processing charges shall be borne
by B and C in the ratio of 1 : 1)
>>Suppose A raises a bill on B for additional processing charges of Rs.100 + 5% GST
>>As agreed, B will recover 50% from C. So, in this case, please answer the following:
(1) On which amount 50% shall be computed
(2) Please state the rate of GST (if applicable) which B shall charge on the 50% reimbursement from C
Thanks in advance.

Sir
I want to know the procedure of GST on Director's Salary payable by Private Limited Co. Is it liable?
Pl advise.
Regards
Sanjay