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Query Posted : 29953
Query Replied : 29953
  • GST on Residential Societies...
    by Ashok on Saturday, June 24, 2017  at 04:56 PM

    Sir, If a Housing Society is having a turnover is about Rs. 65 Lakhs, can the said Society opt for Composition Scheme under GST Laws & pay GST? Kindly advice. Regards.

  • Job work by related party or associated enterprise
    by PDGoenka on Saturday, June 24, 2017  at 11:46 AM

    M/s XYZ a private limited firm having 2 manufacturing unit 1 in goa and 1 in kerala. The kerala unit is doing job work for goa unit under signed agreement. Hitherto, goods were being moved between the units against excise challan and Form -F and did not attract any levy. 1.From 1st July 2017, in eyes of GST, whether this movement/removal of goods will continue as job work or it will be termed as supply and attract GST.

  • Valuation
    by ravi on Wednesday, June 21, 2017  at 09:45 PM

    A private limited company has two directors (father and son) they manufacture submersible pump, and sell these pumps through their retailer firms to end users In the retailer firms either father or the son (one of the director) is proprietor Query- 1. will the private limited company and the retailers be treated as related? 2. which valuation rule will be applicable?

  • GST on Chariatable Trusts and Foundation
    by Ashok on Wednesday, June 21, 2017  at 02:46 PM

    Sir, I would like know, 1) Whether the Charitable Trusts transactions will attract GST? Are they out of the GST Net? 2) Simultaneously Foundations formed under the Company's Act will also any effect of GST? 3) Whether the Donations paid by Trust or by Foundation or by a Public Limited Company will attract GST? If yes, at what is % of GST? Clarify. Regards.

  • GST on Residential Society...
    by Ashok on Wednesday, June 21, 2017  at 02:38 PM

    Sir, A Resi. Soc. presently charges as under: 1.Property Tax (Reimbursement) 2. Water Charges, 3. Repair Fund, 4. Lift Charges, 5. Sinking Fund, 6. Service Charges, 7. Insurance, 8. Ground Rent, 9. Common Electricity Charges -Total Rs.16500/-pm. Except item No. 1 Property Tax, on remaining charges 15% S.T. I would like to know,1. Whether it is correct? 2. Under GST Regime, on which all charges GST will be payable? If yes, at what % of GST, society has to Bill to its members? Clarify. Regards.

  • Sale of Capital Goods under UP VAT
    by Abhinandan Baid on Tuesday, June 20, 2017  at 05:50 PM

    Hi Sir, A assessee is a manufacturer of electric charger and purchased machinery from other state by paying CST. But immediately realised that machinery is of no use to him so he sold it to some other party locally. My question is whether 1) he would raise tax invoice for sale of capital goods i.e.machinery or he can sell on the letterhead 2) Whether he will charge VAT on the sale of such machinery,as machinery is not registered item under VAT for him. Please advise.If possible provide r

  • Collection of Rent in July 2017
    by Ashok on Tuesday, June 20, 2017  at 12:16 PM

    Sir, A Company is having a Commercial premises given on Rent. Practice of Collection of Rent is by issuing the bill in the subsequent month with Service Tax. Company will raise the invoice for rent in the month of July 2017 for the rent of June 2017. Under this case, Kindly inform me, In the Invoice raised in July will attract S.T. or GST? If GST, it will attract 18%. Whether the Company should raise Invoice in June itself (in advance) to avoid complications? Clarify. Regards.

  • GST on Completed Residential Flats
    by Ashok on Tuesday, June 20, 2017  at 10:23 AM

    Sir, Presently once the Occupation Certificate (OC) is obtained in respect of New Residential or Commercial premises, then No S.T. or VAT is payable. I would like to know, whether the same conditions will continue in GST Regime after 1-7-2007? Kindly clarify.

    by SATISH AGARWAL on Monday, June 19, 2017  at 08:10 PM

    Dear Sir, We are engaged in freight forwarding business, pls assist to us whether GST will be applicable on transport of good by vessel/air from India to Outside India, if yes what rate will be applicable. Rgd CA Satish Agarwal

  • RCM under GST
    by Ashok on Saturday, June 17, 2017  at 05:48 PM

    Sir, I understand that under GST Regime, a Company has pay GST under RCM for Purchases or services availed from Un-Registered Dealers, URD Service Providers and any purchases or Services falling under Negative list. For making the payment the Service Receiver or who procure goods has to prepare Self Invoice & pay GST. Kindly confirm. If yes, Please provide me the sample Format. Advice me. Regards.

  • GST on Residential premises
    by Ashok on Saturday, June 17, 2017  at 04:26 PM

    Sir, Company has booked a residential premises, has already paid 90% of the total cost of the Flat and only 10% of amount is balance. I would like to know, whether it is advisable to pay the balance and to avoid additional tax under GST? Advice. Regards.

  • Purchase of Commercial Premises....
    by Ashok on Saturday, June 17, 2017  at 04:15 PM

    Sir, Limited Company has booked to purchase Commercial Premises. They have already paid 40 to 50% amount of the total amount. I would like to know, 1) How much % of GST will be payable on balance amount after 1st July 2017? 2) One of Developer is demanding the balance amount and informing that if you pay now, he will charge 1% VAT otherwise after 1st July he will charge 12% GST, Kindly Advice, payable now is advisable or not. Regards.

  • GST on Rent of Commercial premises..
    by Ashok on Saturday, June 17, 2017  at 04:06 PM

    Sir, Limited Company is having Commercial premises & given on Rent. I would like to know,1) How much % GST is payable on rent receivable w.e.f. 1st July 2017? 2) I understand that Rent Collected in June will attract S.T & to be paid on or before 5th July and rent collected for July will be paid by 20th August. Please confirm. Regards.

  • GST on interest on late payment
    by Manoj on Friday, June 16, 2017  at 05:48 PM

    Housing society charges interest on the delay in payment of dues. Is the amount of interest charged liable to to GST? Further what is GST implication on share premium, donation and transfer fees from the new member

  • Service Tax Applicability on Salary Bench-marking
    by PRATYUSH PARASHAR on Friday, June 16, 2017  at 03:31 PM

    Dear Sir, Please clarify whether salary bench marking for foreign company qualify for export of service. Regards, Pratyush

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