08 November 2019 at 09:55

High sea sale -IGST CLAIM AS INPUT OR NOT

my query is Can high sea sales original buyer/actual user claim IGST paid as input credit in custom to clearence the materials. If he claim input benefit then how to show GSTR 3B return and is there any clause. HIGH SEA SALE AGREEMENT : foreign party(hong kong)----Mr.X(KOLKATA)(Seller/importer)------Mr.Y(KOLKATA)(Actual user/Buyer)(IGST PAID IN custom) ACTUAL USER/ BUYER CAN CLAIM IGST PAID AS INPUT CREDIT . ACTUAL USER/BUYER HOW TO SHOW THIS TRANSACTION GSTR 3B RETURN.


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08 November 2019 at 09:55

ANTI PROFTEERING CLAUSE

Respected all,
I want to know that how's give effect of anti profiteering clause in GSTR-1 and Gstr-3B
please suggest.


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08 November 2019 at 08:39

Refund of accumulated ITC

XYZ importing goods against ‘Advance Authorization’. They had also fulfilled export obligation against the same by exporting the goods without payment of GST under LUT. They are now filing refund claim of accumulated ITC on account of continuous exports. Can they consider the value of exports made for fulfilment of export obligation against advance authorization, while claiming refund of accumulated ITC?


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08 November 2019 at 08:11

GST on supply to SEZ

Q is running say a hotel in Maharashtra. An employee of one SEZ Unit/ Company stays in that hotel, while being on official duty on behalf of the said SEZ unit. Q is required to raise the Invoice on the SEZ Unit/Company outside Maharashtra. a) Whether supply of service to an employee on behalf of the SEZ Unit would be considered to be supply to SEZ Unit and be treated as Zero Rated? b) If the answer to a) is affirmative, then whether Q shall have to comply with LUT formalities? c) In case Q has to charge GST, Whether Q is required to charge SGST & CGST OR IGST?


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08 November 2019 at 08:08

GST on sale of flat

Mr. A has entered into the Agreement with the Developer, for purchasing the Flat for say Rs 100 lac. The construction is underway. A has paid the sum of Rs 70 lac so far and has paid Service tax, VAT and GST as the case may be, on the same. Now, before the construction getting completed, A is assigning his rights over the Flat to and in favour of B, with the consent of the Developer. The consideration amount for the transaction is Rs 80 lac. The Developer is joining the Agreement as the confirming party. Rest of the consideration (Balance Amount) shall be paid by B to the Developer and shall also pay the GST becoming payable on the payment of the balance amount. The construction is still underway and the building has not been granted OC till date. In the mentioned perspective. A want to know, whether any GST would become payable on and in respect of the said Agreement for Assignment between A and B for Rs 80 lac.


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08 November 2019 at 08:03

Provisional attachment of property

XYZ had not filed till date the GSTR - 3B Return for September'19 but had filed GSTR - 1. Can GST authorities issue a notice for provisional attachment of property under this situation?


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07 November 2019 at 17:53

Gstr3b and gstr2a how mismatch bill wise

please provid this information,sometime this problem


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We are partnership firm doing business of retailing and registered in GST, we invest our surplus capital in mutual fund liquid funds and earn interest / income from the same.
Is their any GST liability on income earned through above mentioned liquid fund. Please let me know under which clause is this income exempt. (If its exempt) or what is GST liability on it.(in any)


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07 November 2019 at 16:04

GSTR 1

Respected Sir,
Can we give one Invoice for Taxable and Taxfree Items to B2B dealers?
Should it be right if Total Invoice Value includes Taxfree Items Sale Value in GSTR - 1 in the Table 4A B2B Sales?

Thanks


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Dear All,
SITP will construct building on their land and transfer (No sale agreement here) land and building to its member. They have already taken amount for construction of building from members. Transfer of building will happen after getting 100% funds from govt. Till then they will charge lease rent on Land & Building.
Issues are
1. Is GST applicable for transfer of building to its member?
2. We have given various contracts for development of park like Construction of Building. Contractors going to raise a GST bills (RA Bill) to SITP. What is the treatment of GST here? Should we capitalise the GST as ineligible ITC or claim it ?
3.Is GST applicable on lease rent?
If anyone knows the procedure to befollowed under GST for SITP please share with us.

Thank you.
CA Prashant Patil
8381096096


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