QUESTION 1:
If GST is not remitted on the respective due
date, how much interest is to be paid?
Answer:
As per GST Act, if GST is not remitted on the
respective due date, the tax is to be remitted along with 18% interest.
Question:2
While collecting charges for marine cargo, how
much GST must be collected?
Answer:
For Marine Cargo Charges 5% GST is to be collected.
For other related services, 18% tax is to be collected.
Question:3
We are operating a service center for a leading
two wheeler. In all of our services, both goods and services are mixed. If we
opt for composite scheme under GST, how much tax should we collect?
Answer:
Your work will be deemed as Service under GST
Act. A service provider cannot opt for Composite scheme under GST. Hence, you cannot
collect tax under composite scheme.
Question 4
We are operating CT Scan cum MRI Scan Centre. How
much percentage of GST must be collected?.
Answer:
Such services are medicine related services.
Hence these are exempted from collecting Tax under GST.
Question 5
During a questions and answer session on GST, it was
explained that there will not be reverse charge basis if payment upto Rs.5000/-
is made to unregistered persons. Whether it applies only for cash transactions
or will it apply to payments through bank cheque or online also?
Answer
All transactions
totally upto Rs.5000/- per day, by a GST registered person with unregistered persons
are exempted to remit tax under
reverse charge basis. This is applicable to all cash, cheque and online payment
transactions.
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