21 December 2020
Please tell me the whether the GST is applicable on the renting of the movable properties like plant & machineries, computers, furniture etc…..
22 December 2020
IF I TAKE A MACHINE ON RENT FROM UNREGISTERED PERSON ,CAN I LIABLE TO PAY RCM ON MACHINERY RENT? please specify with relevant provision?
22 December 2020
Yes the activity is liable to tax under HSN 9973 as Leasing or rental services -"Transfer of the right to use any goods for any purpose (whether or not for a specified period) for cash, deferred payment or other valuable consideration" and rate of tax "same as rate of good on it sale". The entire query is again subject to registration limit under GST
29 December 2020
If I purchased an Asset worth Rs.100000/- for office they charged GST of Rs.5000/- in the bill.
Clarification:-
1. Shall we take input tax credit of this GST paid
2. After taking credit shall we able to claim Depreciaton on this Asset. ? in which amount ? ( including of GST or excluding of GST) PLEASE SPECIFY WITH PROVISION FOR REFERENCE
CAclubindia
