Input tax credit
This query is : Resolved
VIPIN NAIR
(Querist)
22 July 2017
Dear Expert ,
I have received an Bill from Resturant ( This Bill has No GST charged ) but the resturant is covered under Composition scheme of GST.
My Question : How to Book Bill ? ( Under RCM or Non Taxable )
I am using SAP System in my Orgnization.
Pls support your answer with Section and Notification.
Thanks in Advance
I have received an Bill from Resturant ( This Bill has No GST charged ) but the resturant is covered under Composition scheme of GST.
My Question : How to Book Bill ? ( Under RCM or Non Taxable )
I am using SAP System in my Orgnization.
Pls support your answer with Section and Notification.
Thanks in Advance
CA Altamush Zafar
(Expert)
22 July 2017
You simply book the amount paid as expense and no credits shall be taken. It will neither be treated as RCM nor Non Taxable. In your GSTR-2 a detail will have to be filled in a separate section for supplies received from composition dealers.
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VIPIN NAIR
(Querist)
22 July 2017
1. If Hotel Bill no GST , whether it will come under RCM ?
2. Meals and Dinner expenes but no Bill whether RCM ?
2. Meals and Dinner expenes but no Bill whether RCM ?
CA Altamush Zafar
(Expert)
22 July 2017
The hotel bill is for accommodation or restaurant of that hotel?
VIPIN NAIR
(Querist)
22 July 2017
Seperate Bills
CA Altamush Zafar
(Expert)
22 July 2017
1)A Hotel cannot take composition scheme. Therefore if bill is without GST then it is under RCM. Where services are exempt then GST shall not be payable on RCM, say for example the room tariff of the hotel is less than Rs. 1000 then no RCM to that extent.
2) Meals and dinners without bills will also come under RCM. At the year end in annual return of GST a reconciliation of financial statements and GST returns will need to be provided. The expenses will also have to be claimed for income tax purposes. Therefore GST will have to be paid on RCM otherwise it will lead to tax evasion.
2) Meals and dinners without bills will also come under RCM. At the year end in annual return of GST a reconciliation of financial statements and GST returns will need to be provided. The expenses will also have to be claimed for income tax purposes. Therefore GST will have to be paid on RCM otherwise it will lead to tax evasion.
VIPIN NAIR
(Querist)
22 July 2017
pls can u provide section no for it
CA Altamush Zafar
(Expert)
22 July 2017
Section 9(3) and (4) and section 10 for composition along with rules.
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