If firm participate in exhibition in other city so the
1- travel,hotel food are recorded in which account and what is the name for it
2- transportation of goods from the firm to exhibition and exhibition to firm is recorded in which account and what is the title name for it???
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If a firm participate in exhibition
Replies (1)
| Exhibitions involve multiple GST implications. Here is a comprehensive breakdown: 1. Stall/Participation Charges Paid to Organiser: - The organiser charges GST @ 18% on stall rent/space charges (SAC 9997 or 9983) - The participating firm can claim ITC on this expense if it is used for business purposes and not blocked under Section 17(5) 2. Sales Made at Exhibition: - GST is applicable on all sales made at the stall as per normal applicable GST rates for the goods/services - If sales are within the same state: CGST + SGST applicable - If the exhibition is in another state (inter-state): IGST applicable - Registration requirement: If making inter-state supply (selling from stall in another state), the firm may need GST registration in that state OR can use casual taxable person registration 3. Casual Taxable Person Registration: - If the firm participates in an exhibition in a state where it is not normally registered, it must register as a 'Casual Taxable Person' under Section 27 of CGST Act at least 5 days before the event - Casual taxpayer registration is for a specific period (up to 90 days) - Must deposit estimated tax liability upfront as advance 4. Movement of Goods to Exhibition (Inter-State): - Goods moved to another state for exhibition are treated as a 'branch transfer' / non-supply movement - E-way bill is required if goods value exceeds Rs. 50,000 - In GSTR-1, report as stock transfer to own branch (if registered in that state) or as supply to casual person GSTIN 5. Return of Unsold Goods: Goods brought back must also be covered by an e-way bill and reflected as return stock transfer. |
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