GST:QUESTIONS AND ANSWERS - 24:07:2017

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