Hi
I run an Information Technology business which has 3 components with total annual turnover 50 Lacs (VAT Sale to end user 30 lacs, Service 20 lacs).
1. Sale and Purchase of Computer Hardware in Delhi - and ocassionally inter state(computers, parts, notebooks, printers etc) Registered for VAT in Delhi only Business to Consumer.
2. IT Support for companies - AMC, onsite calls etc (Service -Maintanence & Repair Services) - Registered for Service Tax in Delhi
3. Hosting Services and Domain Name Registration - (Service - Information Technology and Software Services)
Now as we move to GST I understand we cannot come under Composite Scheme as we provide Services, and also we have occasional Inter-State Sales.
Now the following things are not clear
1. Our Office is only in New Delhi, but we raise service invoice for maintanence of IT in companies in Gurgaon/Noida. Also we have hosting clients in Bangalore etc but total turnover from services provide to other states would 3-4 lacs in 8-10 invoices annually. Do we have to get GST registration for these interstate invoices in all states that we raise invoices to ?
2. We used to have a VAT on computer parts of 5%. We have a closing stock on 30th June 2017 of around 1 lac. We bought this with tax invoices and availed input credit. How do we carry forward this stock? It might not be easy to locate all the purchase invoices for lot of these scatter parts in stock. The new GST rate is 18% on most of these parts. If we do not want to take any additional Custom/Excise Input credit apart from the 5% Vat already paid. What would be the best way to carry forward this stock ?
Amit Kalra
CAclubindia
