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GST:QUESTIONS AND ANSWERS - 31:07:2017

QUESTION 1:

We are running a charitable trust. We have built a marriage hall and let it for rent. In this circumstance, should we collect GST on that rent?

Answer:

If  you have got exemption  from  Income Tax Act and if the hall  rent per day also does not exceed Rs.10000/-,  you need not collect GST.

Question: 2

With a wrong PAN Number, we obtained GST registration through migration procedure. Now can we change the PAN number?

Answer:

You cannot change the PAN number. You must obtain new GST Number.

Questio: 3

On Capital Goods, I obtained Input Tax Credit and recorded it also.  If I sell those capital goods, what will be the tax impact on it?

Answer:

During the purchase of capital goods, a registered person receives reduction equivalent to the percentage of ITC or there is the tax on the sale of capital goods. Of the two, reduction or the tax, whichever is higher, he has to remit.

Question: 4

We have obtained prior registration for the supply. Should we collect tax for such prior registration also?

Answer:

Yes. The supplier who obtained prior registration for the supplies must remit GST.

Question: 5

I am a person from Information Technology remitting tax. If motor vehicle is purchased for the use of Managing Directors, can we avail input tax credit on the GST?

Answer:

You cannot avail.  If the motor vehicle belongs to a Passenger Transport Company or Cargo Transport Company or an Institution giving motor training, then one can avail the Input Tax Credit on the vehicle. Being in IT industry, even if you purchase a vehicle for the office use, you cannot get Input tax credit.

Question: 6

I am engaged in supplies. Is there GST for the discounts provided during supplies?

Answer:

There is no GST on the discounts of the supplies made on prior agreement.

Question:7

I am a worker undertaking job works. Should I register for GST compulsorily?

Answer:

As the job works are service in nature, you have to register  if your annual income is greater than what it was at  your earlier stage. Otherwise, you need not register for GST  

Question 8:

Should GST to be levied on the essential goods supplied through Charitable Trust?

Answer:

If transactions are meant to increase the business, tax will be levied under GST Act for the goods supplied. If the procurement and supplies to Charitable Trust are not in the nature of business, tax will not be levied under GST. 
 
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