John (Director) (23 Points)
11 December 2019We are a dealer for HPCL
Every month the company creates GST Invoices under RD for Rs 8260 (inclusive of GST @ 18%)
Plus every month the company creates an additional GST Invoices under GP for variable amount (inclusive of GST @ 28%)
Whenever explanations are asked the answers are more confusing. Are we supposed to pay the GST amount. There is also
talk of paying 2% TDS. Can anyone explain the issue in simple terms, so that a taxpayer can understand the matter.
CA VISHAL JAIN
(Chartered Accountant)
(88 Points)
Replied 11 December 2019
John
(Director)
(23 Points)
Replied 11 December 2019
We have leased the land (property) to a relative, who in turn has entered into a sub-lease agreement with HPCL. The pump is in relative's name, but runs it on our behalf.
Deepak Mishra
(2 Points)
Replied 14 September 2021
RD INVOICE IN HPCL IS RELATED WITH LEASE RENT WHICH HPCL CHARGED FROM DEALER. SO YOU CAN CLAIM INPUT GST
CA. Heet Shah
(Tax Consultant & Practitioner)
(6174 Points)
Replied 15 September 2021
You can claim ITC for all the GST charged to you. Further tds @ 2% would apply for transaction with psu on amount exceeding rs. 2.5 lakh per transaction.
Tds would be available to you on the portal which u may claim for the tax payments on filing tds return under GST
CAclubindia
