Frequently Asked Questions - GST

Q.  I am restaurant owner and also have supply of some other services worth ₹ 1 lakh Am I eligible for composition scheme?

Ans.  No. Please refer to Section 10 of CGST Act.

Q.   Challan for job work in form ITC-04 needs to be filed by 25^th of next quarter. Is there any provision of relaxation in it?

Ans.  Yes. Please refer to the Notification No. 51/2017-Central Tax

Q.   What is taxable value in case of export under LUT or bond as shipping bill show taxable value not applicable in filling GSTR 1. Which value whether FOB value or CFR/CIF or invoice value consider as taxable value?

Ans.  Valuation needs to be done on basis of section 15 of CGST Act & Chapter IV of CGST Rules. The same would be mentioned on tax invoice raised in accordance with rule 46 of CGST Rules.

Q.  Hi, I have a software solutions firm & I also supply service to few clients situated out side of India & they pay me via services like @ paypal @ trasferwise. Do I have to apply GST on the invoices & if yes, how many? Is there any bond I have to supply ?

Ans.  Export of services can be done, with or without payment of IGST, as per section 16 of the IGST Act.

Q.  Are the government agencies and government bodies exempted from GST? Is there a notification to this effect?

Ans.  No

Q.   From which date, I will make export transaction with pay 0.1% IGST. This facility for all exporter?

Ans.  Kindly refer to Notification No. 41/2017-Integrated Tax (Rate)

Q.  We are a private ltd co registered in India. Our Parent company is in Europe. We supply ITES services to our parent co in Europe. Query: Whether the services provided by us to our parent co will be treated as Export Services as per GST Act…? Please clarify.

Ans.   No as they will be treated as distinct entity.

Q.   I am a transporter and does not need to get registered in GST. But, I do business with registered persons. Do I have to maintain any details?

Ans.  Yes. Please refer to Chapter VIII-Accounts & Records of CGST Act.

Q.  I need advance ruling on my business (supply)? Online process is not working. Need guidance

Ans.  Manual application can be given. Please refer to Notification no. 55/2017-Central Tax. A new rule 107A has been added for the same.