Frequently Asked Questions - GST

Q. I have submitted Bank guarantee and bond for export purpose. Now as per notification no. 37/2017-Centra Tax, I am eligible to export under LUT. When can I take back BG & bond and instead submit LUT?

Ans. You can do it now. It came into force from 04.10.2017

Q. Do charitable trust having donation receipt above ₹ 20 Lacs and scrap sale of ₹ 1,000 required to obtain Registration?

Ans. No.

Q. I want the notification that explains the latest changes (10^th November) made in branded and non branded food products ?

Ans. Please refer to Notification Nos. 41/2017-Central Tax (Rate) and 42/2017-Central Tax (Rate)

Q. Registered job worker is in another state. Can he supply finished goods after job work under a delivery challan on inter state basis?

Ans. Yes, please refer to rule 55 of CGST Rules.

Q. Is there an option to surrender registration for those who wish to cancel their registration as per Notification no. 05/2017-Central Tax?

Ans. Yes, please refer rule 22 of CGST Rules. You have to apply through FORM REG-16 or REG-29.

Q.  What will be place of supply in case selling goods on his over the counter shop to unregistered parties who belong to other states?

Ans.  Place of supply would be location of supplier.

Q. Service dealer opted for composition scheme. Later he came to know that the scheme is not applicable for services. What remedy he has now?

Ans.  Please refer rule 6(3) of CGST Rules. You can opt out and need to follow all other provisions of the Act.

Q. If have taken composition for restaurant. Am I liable to pay 5% on items sold on MRP such as drinks, chocolates or 1%?

Ans. 5% needs to be paid on turnover in your State/UT.

Q. I pay ₹ 60,000 as shop rent to unregistered dealer. Is reverse charge applicable on that?

Ans. No. Please refer to notification no. 38/2017-Central Tax (Rate)