Comments requried from expert regarding gst itc

This query is : Resolved

alok ranjan (Querist)
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18 July 2017 Respected sir,

I read BGM i have some doubts regarding Input tax credit.

1) On royalty payment on limestone, Gst is required to pay under RCM?

2) Suppose any employee cash purchase on the behalf of company, and in Bill both GSTIN is mentioned, can company take credit w.r.t credited with company employee?

3) If any employee of the company has gone outside state and in food bill GST charged, and Company has separate registration in that place, Can i take credit in respect of fooding bill?

4) On import of coal company paid clean energy cess 400/pmt in the earlier law ? Now company paid GST compenssetion cess? whether old clean energy cess carry forward in return? whether new Cess credit is allowed for the company, if allowed then which form is prescribed for this?

5) Exempted goods purchased from unregistered dealer then it is outside the preview of Rs5000/per day or not? Whether HSN code mandatory in Rcm?

6) If any fooding Bill for Outsider like consultant engineer, architects,auditor or other person, then GST levied on food bill credit is allowed for the company or not?

7) Suppose Company given car to managers, but for three years car is named on company after that it is transferred to employee so please clarify that whether Transferred of car after 3 years is treated to be supply and whether GST is recovered from employee? if Recovered on which value?

Regards
Alok Ranjan

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 July 2017 1 If not paid by supplier RCM applicable.
2 company can't take credit w.r.t credited with company employee
3 Credit can't be taken in respect of fooding bill being personal consumption.
4 Cess can't be caried forward in the return.
5 Yes outside the purview hsn now not mandatory.
6 Credit not allowed on food bill being personal consumption.
7 GST has to be recovered on market value.

alok ranjan

alok ranjan (Querist)
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19 July 2017 I am totally satisfied with your answer. But one question remaining that cess levied under GST compensation act 2017, whether credit/refund allowed? If allowed, under which form is prescribed?
Regards
Alok Ranjan

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 July 2017 RETURNS, PAYMENTS AND REFUNDS (1) Every taxable person registered under CGST Act, 2016, making a taxable supply of goods and/or services, shall furnish such returns in such formats, as may be prescribed, along with the returns to be filed under the Central Goods and Services Tax Act, 2016, shall pay the amount payable under the Act in the manner as may be prescribed and apply for refunds of cess paid and refundable in such form as may be prescribed.
The input tax credit in respect of GST Compensation Cess on supply of goods and services leviable under section 8, shall be utilised only towards payment of GST Compensation Cess on supply of goods and services.

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