Skip to main content

10 FAQ's On GST :

Q.1 We have filed online refund and ARN received and what is the next course?
Ans: Please submit the print out of RFD-01A with ARN before the jurisdictional authority for processing of refunds. Refer to Circular No.17/17/2017-GST dated 15th November 2017.
Q.2 Are supplies to SEZs to be chargeable to IGST?
Ans: Yes, supplies to SEZs are chargeable under IGST Act. However, supplies can also be made without payment of integrated tax under bond or LUT.
Q.3 Even after one week our refund application is not assigned to any officer. What to do ?
Ans: Please submit the print out of RFD-01A with ARN before the jurisdictional authority for processing of refunds.
Q.4 Can the GST paid under RCM claimed as input credit by composition dealers?
Ans: No, input tax credit cannot be availed by the composition dealers.
Q.5 Can I take mobile GST Input Tax Credit if I purchase mobile in the name of firm
Ans: Credit will not be available if goods or services are used for personal consumption, as provided under Section 17(5)(g) of the CGST Act, 2017.
Q.6 How to change registered email & mobile number of proprietorship firm?
Ans: One can applyfor such change by filing FORM GST REG-14, which is application for amendment in registration particulars, on the common portal.
Q.7 How to file quarterly return GSTR-1. I am trying to file GSTR-1 for August, and error is coming that date is not open?
Ans: Quarterly FORM GSTR-1 for taxpayers with turnover upto Rs. 1.5 Cr would be available shortly.
Q.8 I have applied for cash refund on the common portal and have not received the debited amount to my bank account ?
Ans: Refund from cash ledger has to be sanctioned by the proper officer. The refund application (along with ARN) is to be submitted to the proper officer for processing.
Q.9 Is there any plan to allow modification/re-open/edit FILED GSTR 3B return?
Ans: A detailed circular is being issued shortly.
Q.10 What is the meaning of inverted tax structure?
Ans: Inverted tax structure is where rate of tax on inputs is higher than the rate of tax on output supplies.

Comments

Post a Comment

Popular posts from this blog

12%, 18% GST rates to be merged in future; 28% on luxury, sin goods: FM

Also, there will be a very thin list of items in the highest tax slab of 28%   Finance Minister Arun Jaitley on Thursday hinted at merging 12 and 18 per cent tax rates under GST once revenue collections pick up and said the top 28 per cent slab would be for a "very thin" list of luxury and sin goods. The Goods and Services Tax (GST), rolled out on July 1, currently has four tax slabs of 5, 12 18 and 28 per cent. There is also a zero per cent tax on certain essential daily use commodities. Speaking at the HT Leadership Summit, Jaitley said the new indirect tax regime started with multiple rates in order to keep the tax incidence around the same level that existed pre-GST. Stating that the country would eventually move to a two-tier GST, he said that how fast it could be done would depend on the revenue position of the government. "We have thinned down the 28 per cent bracket, we can thin down more and it can be at some stage c...
Post a Comment
Read more

All about Reverse Charge under GST

Reverse charge is a mechanism where the recipient of the goods and/or services is liable to pay GST instead of the supplier. In this article, we discuss the following topics: 1. What is Reverse Charge? 2. When is Reverse Charge Applicable? 3. Time of Supply under Reverse Charge 4. What is Self-Invoicing? 5. Frequently Asked Questions(FAQ) 1. What is Reverse Charge? Normally, the supplier of goods or services pays the tax on supply. In the case of Reverse Charge, the receiver becomes liable to pay the tax, i.e., the chargeability gets reversed. 2. When is Reverse Charge Applicable? A. Supply from an Unregistered dealer to a Registered dealer If a vendor who is not registered under GST, supplies goods to a person who is  registered under GST , then Reverse Charge would apply. This means that the GST will have to be paid directly by the receiver to the Government instead of the supplier. The registered dealer who has to pay GST unde...
Post a Comment
Read more

How many Returns are required to be filed under GST?

A business in most cases will be required to furnish 3 returns monthly and 1 annual return. That means any business will require to file 37 returns in a financial year. However there are separate returns for a taxpayer registered under the composition scheme, taxpayer registered as an Input Service Distributor, a person liable to deduct or collect the tax (TDS/TCS)
Post a Comment
Read more