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Home Acts & Rules GST Draft-Bills-Reports FAQ on GST dated 21.9.2016 based on Draft Model GST Chapter 2 = Levy of and Exemption from Tax Chapters List This

Levy of and Exemption from Tax - FAQ on GST dated 21.9.2016 based on Draft Model GST

Chapter: 2
Levy of and Exemption from Tax
Question 1	:	Where is the power to levy GST derived from?
Question 2	:	What is the taxable event under GST?
Question 3	:	Is the reverse charge mechanism applicable only to services?
Question 4	:	What will be the implications in case of purchase of goods from unregistered dealers?
Question 5	:	In respect of exchange of goods, namely gold watch for restaurant services will the transaction be taxable as two different supplies or will it be taxable only in the hands of the main supplier?
Question 6	:	Whether supplies made without consideration will also come within the purview of Supply under GST?
Question 7	:	Who can notify a transaction to be supply of goods and/or services?
Question 8	:	Will a taxable person be eligible to opt for composition scheme only for one out of 3 business verticals?
Question 9	:	Can composition scheme be availed if the taxable person effects inter-State supplies?
Question 10	:	Can the taxable person under composition scheme claim input tax credit?
Question 11	:	Can the customer who buys from a taxable person who is under the composition scheme claim composition tax as input tax credit?
Question 12	:	Can composition tax be collected from customers?
Question 13	:	What is the threshold for opting to pay tax under the composition scheme?
Question 14	:	How to compute ‘aggregate turnover’ to determine eligibility for composition scheme?
Question 15	:	What are the penal consequences if a taxable person violates the condition and is not eligible for payment of tax under the Composition scheme?
Question 16	:	What is the minimum rate of tax prescribed for composition scheme?
Question 17	:	When exemption from whole of tax collected on goods and/or services has been granted unconditionally, can taxable person pay tax?
Question 18	:	What is remission of tax/duty?
Question 19	:	Whether remission is allowed under GST law?
Question 20	:	Whether remission is allowed for goods lost or destroyed before supply?
Question 21	:	Whether remission is allowed on goods lost or destroyed for all reasons?
Question 22	:	Does the model GST Law empower the competent government to exempt supplies from the levy of GST?

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