GST FAQs

A collection of Frequently Asked Questions by tax payers on various issues related to Goods & Service Tax Act and Rules

Is GST payable on consideration received for sale of scrips?

Yes. Scrips are goods and sale of scrips has to be treated as supply of goods. GST at applicable rate will therefore be payable. In...

A registered person is a manufacturer of taxable food items. His factory...

Yes, the person is eligible to claim ITC of tax charged on the rental amount. ]

How will imports be taxed under GST?

All imports will be deemed as inter-State supplies for the purposes of levy of GST. IGST is leviable on imports in addition to other...

Can they claim ITC of CGST and SGST paid on crockery items to be...

Yes, they can claim ITC of CGST and SGST paid on crockery items to be used in the restaurant. It may be stated that...

What is the time limit for grant of refund?

Refundable amount shall be sanctioned within 60 days from the date of receipt of application complete in all respects. However, as a measure of...

Whether the supplier can reduce the tax ...

Yes, the person is eligible to reduce the tax liability by issuing credit notes to his recipient for such returned goods subject to the...

How will exports be treated under GST?

All exports will be deemed as inter-State supplies. Exports of goods and services will be treated as zero rated supplies. The exporter has the...

Whether they will be eligible for ITC on crockery items purchased locally in the...

If the State VAT law allowed ITC on such goods, the credit was available on the date of purchase.Section 140(1) of the SGST Act,...

Will the principle of unjust enrichment apply to exports?

The principle of unjust enrichment is not applicable in case of exports of goods or services as the recipient is located outside the taxable...

What will be the rate of tax on...

The rate of tax shall be 12 %. In the event of the supply being made in an AC restaurant, the rate of tax...
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