Finance GST 2016 Taxation

CBEC issues tweeter -faq on various issues for users

Today, the Government (GST council) has clarified various points through Twitter. The same is attached for your reference.

We have listed few important areas and the Government responses on the same below for your ready reference:

 

Sr. No. Users Queries Tweets Received
32What duties will be levied on import of goods?Customs duty and cess as applicable + IGST+ GST compensation cess. IGST and GST compensation cess shall be paid after adding all customs duty and customs cess to the value of imports.
54Should we discharge GST liability for all reverse charge having small amounts of Transaction or any amount limit is there?

 

It has been decided that Rs. 5000/- per day exemption will be given in respect of supplies received from unregistered person. For supplies above this amount, a monthly consolidated bill can be raised.
59Sec 9(4) of CGST Act 2017. Do I need to pay under RCM if I purchase stationary worth Rs.100 from an unregistered stationery shop?

 

It has been decided that Rs. 5000/- per day exemption will be given in respect of supplies received from unregistered person.

 

61Whether GST will be leviable in case of returnable packing material like drums supplied with finished goods?

 

GST will be levied on the value charged for the supply only.

 

68Employer provides bus service, meal coupon, telephone at residence, gives vehicle for official and personal use, uniform and shoes, any GST?

 

Where the value of such supplies is in the nature of gifts, no GST will apply till value of such gifts exceeds Rs. 50000/- in a financial year.

 

74We manufactured excisable goods. But unit availed the exception benefits 50/2003. What about my dealers stock?

 

The dealer will get deemed credit @ 40% / 60% of the CGST paid on supply of such goods in GST. If the goods are branded and greater than Rs. 25,000, full credit using CTD can be availed.

 

83Some service was provided on 28.06.2017 but Invoice will be raised on 05.07.2017. Whether we have to charge Service Tax or GST?

 

If Point of Tax arises after appointed date, then GST will be chargeable on such supply.
84Would we be eligible for credit on Capital Goods in transit and received post GST?

 

No provision for such credit is there in GST law.
88How will we get input credit on stock in hand for spare parts billed from other state, excise, CST and entry tax paid?For all inputs with duty paying documents available respective CGST / SGST credit will be available. But credit of CST will not be available.

 

91Can ITC of Swach Bharat Cess or Krishi Kalyan Cess be carried forward under GST?

 

No
97Whether IGST would be levied twice on high seas sales? First on high seas sales and second on custom clearance. IGST paid on 1 available as ITC?

 

IGST shall be levied only once on imports.

 

99Is E-Way Bill applicable from 1st July 2017

 

The present system for E-way Bill in States to continue, till the E-Way Bill procedures are finalized.

 

 

Please find below link to download complete GST twitter FAQ :

CBEC issues tweeter -faq on various issues for users

Thanks!

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