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.
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?
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?
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.
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)
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.
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.
CA Prashant Patil