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GST:QUESTIONS AND ANSWERS - 23:10:2017

QUESTION 1

After GST implementation, now, while importing goods, should the IEC code be submitted or GST number?

Answer

Now, during export or import, both IEC code and GST number must be submitted. After linking all the required particulars electronically, it is enough to submit only GST number.

QUESTION 2

We are running a “cake shop” at Ranipettai.  In this, we are selling cake, sweet and karam varieties.  During sales, how much percentage of tax is to be levied by us? Shall we opt composite tax scheme?

Answer

You must collect 18% for cakes, 12% for Karams and 5% for sweet varieties as tax and remit. If your annual turnover is not exceeding the maximum limit of Rs.1 crore stipulated for composite tax scheme, then you can opt the same.  

Question 3

We are operating an establishment for marriage invitation designs. While printing marriage invitation, how much percentage of GST must be levied for that?

Answer

For this supply, you must levy 12% tax.

Question 4

We are having rice godown in Thanjavur. Agriculturists and brokers are keeping their rice bags in our godown and paying rent. In the rent, how much GST must be levied by us?

Answer

For the rice godowns, there is an exemption from GST. Therefore, GST will not be levied on the rent you receive.

Question 5

I have applied for GST new registration.  Now, can I collect GST through my tax invoice?

Answer

You can collect tax only after getting GST.  Before that you must not collect tax. In the tax invoice also, GST cannot be mentioned separately.

Question 6

We are running a charitable trust. We have obtained income tax exemption also for that. For the supplies made through charitable trust, will GST be levied?

Answer:

Full exemption has been provided from GST for the charity transactions of an establishment which has obtained exemption from Income Tax Department.

Question 7

What is the importance of the place while making supply? Should the place of supply compulsorily be mentioned in each tax invoice?

Answer:

 Under GST Act, the place of supply occupies an important place.  If the place of supply and the place of person making the supply are in different States, Integrated Tax must be levied.  As per your question, there is no need to mention the place of supply in each tax invoice. In the tax invoice of supply to Other States, the place must be mentioned compulsorily.

Question 8

We are engaged in the services of collecting waste, refining waste water and other environment protection through our establishment. For this, how much percentage tax must be levied. Is there any exemption for the environment protection service?

Answer:

For all the services you have said, 18% tax must be levied. There is no concession in tax as you desire. For all your services, you can avail 100% input tax credit.

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