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Query Posted : 30004
Query Replied : 30004
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  • How to show Service Tax Refund to be claimed u/r 5 of CCR in ST3 for June 2017
    by RAJESH on Monday, August 14, 2017  at 07:52 PM

    We are exporter of services eligible for cenvat refund u/r 5 of CCR from the deptt. For the period ended 30.06.2017 cenvat credit balance entitled for refund is not yet claimed from the deptt. Exporter opts TO CLAIM REFUND Under existing law and not to carry forward under GST. Whether CENVAT account needs to be debited as on 30.06.17 for refunds to be claimed under existing law in ST3 Return or we should carry forward cenvat credit in ST3 and do not claim the same in TRAN 1 under GST.

  • GST Credit of tax paid under RCM
    by Mihir on Friday, August 11, 2017  at 08:13 PM

    My Company has to pay GST under reverse charge on GTA for the month of July 2017 of Rs. 5000/-. The Company pays the GST under reverse charge on or before 20.08.2017. My question is whether the credit of said GST paid would be available to me in the month of July 2017 itself or in the month of August 2017 (being challan date is in the month of August)

  • Excisable Goods sold before 01.07.2017 & received back after 01.07.2017
    by Mihir on Friday, August 11, 2017  at 06:21 PM

    My Company has sold goods on 30.06.2017 and paid Excise on the same in the June Month. Since the said goods were not as per specification of the said customer, the said customer did not accepted the same and return the same on my company's invoice. Customer did not issue his invoice and hence my company is unable to take credit. Please guide.

  • Return of duty free RM received in pre-GST regime and clearances of it post GST
    by vijay on Friday, August 11, 2017  at 06:04 PM

    Sir we are 100% eou we want to know the process of returning raw material recieved by against CT3 -duty free which was received by in March-2017 under cover of ARE3. The same is to be returned back to vendor as it is rejected and not consumbale by us. Regards

  • Interest has to be considered as Exempt Supply
    by Mihir on Friday, August 11, 2017  at 05:57 PM

    I have earned interest income amounting to Rs. 1,00,000/-, gain on sale of mutual fund / shares of Rs. 2,00,000/- and sales of taxable goods of Rs. 20,00,000/-. I have availed ITC of common input and input services. My question is whether Interest income & 1% of sale value of mutual fund / shares has to be considered as exempt supply since the same has been considered as Nil rate vide notification No. 12/17 (Sr27) and prop. ITC based on formula given in Rule 42 of CGST rules have to be reversed.

  • Transporter not issuing consignment note
    by mihir on Friday, August 11, 2017  at 05:54 PM

    In my company, we pay for daily tempo charges to a local transporter (small three / four wheeler tempo). He is not issuing any consignment note. He is not registered under GST. Whether RCM would be applicable under Sec. 9(3) or 9(4). Also at which rate @ 5% or @ 18%.

  • Interest income whether to be considered as exempt supply for ITC reversal
    by mihir on Friday, August 11, 2017  at 05:43 PM

    I have earned interest income amounting to Rs. 1,00,000/-, gain on sale of mutual fund / shares of Rs. 2,00,000/- and sales of taxable goods of Rs. 20,00,000/-. I have availed ITC of common input and input services. My question is whether Interest income & 1% of sale value of mutual fund / shares has to be considered as exempt supply and prop. ITC based on formula given in Rule 42 of CGST rules have to be reversed.

  • IGST or CGST & SGST on transportation
    by mihir on Friday, August 11, 2017  at 05:38 PM

    My Company based in Mumbai has paid transportation charges to a transporter based in Chennai amounting to Rs. 50,000/-. The Company is liable to pay GST under reverse charge since the said transporter has issued consignment note. Now the question is whether IGST would be paid under reverse charge since the location of supplier (i.e. transporter which is Chennai) and place of supply (registered place of my Company i.e. Mumbai) or SGST and CGST would be payable.

  • Ser tax and GST on air ambulance
    by Harishi on Thursday, August 10, 2017  at 08:50 PM

    Dear Sir, was service tax leviable on Air Ambulance service? what is the situation in GST? is GSt leviable on Air Ambulance service? A company transported a patient from japan to India in Air ambulance in june 2017. Payment to vendor is being made in August. whether ser tax shall be paid or GST on this transaction? please guide.

  • GST on free supply of renting to firm by partner
    by Mihir on Friday, August 04, 2017  at 08:06 PM

    A partner is providing free of cost a premises owned by him to his firm for use. No rent is charge for the said free supply of renting service. Now whether the partner and firm would be considered as related person and if yes, as per schedule I, whether GST would be applicable even if no consideration has been provide by firm to partner.

  • refund of compensation cess
    by V. R. INAMDAR on Thursday, August 03, 2017  at 11:41 PM

    Dear Sir, we are engaged in manufacture of Tyres, for that we are using coal / brickets as one of the inputs for generation of steam which in turn used for manufacture of tyres. Coal and brickets are subject to compensation cess, my query that, tyres does not attract compensation cess, whether we can take credit of cess and claim refund to the extent of export of tyres?

  • CENVAT CREDIT
    by LALIT SARAOGI on Thursday, August 03, 2017  at 05:58 PM

    WE HAVE IMPORTED BULK CARGO OF 10000 MT & FILED BILL OF ENTRY FOR FULL QTY. GOODS BROUGHT IN FACTORY IN FIVE CONSIGNMENTS. IF CENVAT CREDIT CAN BE AVAILED ON PROPORTIONATE BASIS?

  • RCM on Rent a Cab in Service Tax
    by MOHAN VERMA on Tuesday, August 01, 2017  at 07:30 PM

    Dear Sir My company has received cab services from a vendor, this vendor is not registered in service tax. In Service tax law, if Service recipient is getting service from a vendor not claiming abatement (Non-abated vendor), then RCM has to pay 50% inplace of 40%. But my vendor is unregistered, does he will be treated as Non-abated vendor & co. has to pay 50% RCM or Co. has to pay 40% RCM. As per my auditor, Co has to pay 50% . Need this answer in Service tax law not GST.

  • Service Tax Reverse Charge on Rent a Cab in case of unregistered vendor
    by MOHAN VERMA on Tuesday, August 01, 2017  at 09:25 AM

    Dear Sir I need provision in service tax not GST.

  • GST on a non-refundable membership contribution
    by Mihir on Monday, July 31, 2017  at 07:54 PM

    The Company is implementing new CETP wherein as a means of finance for its Project cost, its collect the fixed amount per water jet looms in fixed instalments, a non-refundable membership contribution against which its issue the membership certificate (not a share certificate as no shares are issued). Now, question is that Is GST applicable on membership contribution which will be reflected in Reserve and Surplus side of Balance sheet?

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