CAclubindia

Queries Replied : 1467

I am Chartered Accountant with passion of reading , understanding and sharing knowledge on GST

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rajesh singhal says : GST on Reverse charge
Mam , We are paying RCM @5 % on freight Charges paid and further claiming this as ITC from our output liability. Whether we are correct or not. Which rate of Rate shall be 5 or 12 %.

RISHI RAI says : Startup e-commerce site, business registration
Ma'am, thank you for your time. i am starting an e-commerce portal of my own, i have a brand name and trademark is under registration. The site will be used to sell stationery, artworks like paintings, prints, home decor and furnishing, artifacts. then will further expand into other categories as well. i want to know if i need to register as a company (opc) to establish this kind of business. what formalities should i clear before starting selling on my site which is almost ready.

J.P. RANPURA says : LTCG - INDEXATION
Respected Ma'am, This is Jay Ranpura - Inter C.A Ma'am, Mr. A having a Gold Business from 1985 and in 2017 he give gift of his some gold stock (500 gms) to his son Mr. B cost value Rs. 545(1 gram) (stock as on 2001-02) now his son want to sales this stock @ Rs. 4006/- (Consideration value)(Index Cost: 289). Issue under consideration : - Can Mr. B get benefit of Indexation under this transaction with previous owner cost & index value (Means Value : Rs. 545 & Index Cost: 100)?

harbir singh says : GST--RATE APPLICABLE TO SUBCONTRACTOR
i read your reply regarding rate of GST applicable to Sub contractor. The court case which you mentioned is relating to work contract ((GST AAR Maharashtra) Appeal Number : No.GST-ARA-09/2018-19/B-65 Date of Judgement/Order : 11/07/2018). My query is that same judgement applicable other contracts also other than work contract

Rohtash says : Distinct Person Under GST
Good Morning Mam, Indian Company (A & B are Directors with equal shareholding) are providing services to US entity i.e. A LLC wholly owned by Mr. A. 1. Out of 5 conditions of Export Services, 4 are satisfied and having confusion weather the both establishment are distinct person or not? 2. Can we substitute distinct person meaning with related party here for knowing eligibility of export services? Thank you in advance. Rohtash Golchha