GST

Traders currently are not allowed to take cenvat credits. As of July 1, 2017, they will have duty-paid stock. It possible, however, that traders might not have the duty-paid documents for such stock. Are there any GST plan that allow trader to claim GST?

Yes, If they have duty-paid invoices, the full credit of ITC for existing stock can be transferred to GST. (Refer to Q 24). If no duty paid invoices can be found, traders will have access to a deemed credit program as described below.

Sr. No.Types of taxpayerDetails to be informITC amount available
1.

Under central laws trader is not liable to register

( To submit on or before 30.09.2017 , Form TRANS -1 )

Stock of inputs (held as inputs/ semifinished/finished goods) to be used in making taxable supplies, where duty-paying documents are available with traderDuty amount will be payable as per sbmitted invoice details
2.

Under central laws trader is not liable to register 

( To submit at the end of the first six month )

Stock of inputs (contained as inputs/ semifinished/finished goods) that can be used to make taxable supplies in cases where duty-paying documents are not available with traderIf intra-State supplies are made, 60% of the Central Tax will be paid (in the case rate for total tax is 18%/28%) and 40% of the Central taxes paid (in the case rate for total tax is 5%/12%). In the case of inter-State supply, 30% or 20% of the integrated tax will be allowed

 


Is there need of e-way bill for the movements of goods under customs seal ?


Is there need of e-way bill for the movements of goods from Nepal or to Nepal ?


Can temporary vehicle number used in generation of e-way bill ?


Is e-way bill needed for intra-state goods movement ?


I am a dealer in tractors. I bought 20 tractors from manufacturer. These tractors cannot be brought on motorized conveyances as goods, but they can be driven to my home. These tractors do not have vehicle number. In such cases, is an e-way bill necessary?


In case of DTA sales from SEZ ,who will be responsible for EWB ?


Many times, the receiver of goods is not known at the time they are shipped from the shipper's premises. One common example -FMCG firms send trucks out to supply kirana shops in a specific area. What should be done?


How much should the e-waybill be worth if goods are shipped on a lease basis? The machine's value is higher than the leasing fees?


Although expired stock is not of commercial value, it is often returned to the seller for compliance with statutory and regulatory requirements or destroyed by the seller. What should be done in these cases?


If shipping costs are charged by E-commerce companies, they must be included in the 'consignment Value' even if it is not stated on merchant's invoice?


If an invoice is for both goods or services, the consignment value should reflect the invoice value (inclusive value of services) rather than the goods value. In such cases, Part A of an e-way bill must also include HSN specific details of service?


Questions on Tax Collection at source


TCS questions


Whether ecommerce operator must register in every State/UT where suppliers are listed on their ecommerce platform to comply with the law ?


As they work from abroad, foreign e-commerce operators do not have a place of business in India. Their suppliers and customers are in India. In this case, will the TCS provision apply to them? If so, how can they get registration?


Does it make sense for eCommerce companies that are already GSTIN and GSTIN registered to register separately for TCS?


What does " Net Value Taxable supplies " means ?


Do you prefer to calculate the net taxable supply value at GSTIN or gross level?


Does every e-commerce seller need to collect taxes in the place of the actual supplier?


When a e-commerce operator should collect TCS (Tax Collection at source ) ?