After GST - Machinery booking on commission

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..... After GST - Machinery booking on commission
Query (Issue) Started By: - Udaya Kiran Dated:- 23-8-2016 Last Reply Date:- 11-9-2016 Goods and Services Tax - GST
Got 7 Replies
GST
Hello Sir, We have a business of booking rice mill machinery, Manufactured by X Company, to rice millers in Andhra Pradesh for which the X company pays commission to me. After GST, can we continue as it is or .....

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..... is it necessary that we purchase from X company and sell it to rice millers. Thank you. Reply By KASTURI SETHI: The Reply: Sh.Udaya Kiran Ji, After the implementation of GST, the concept of Service will not abolish. It is subsumed into GST. In my view, it will continue. Reply By Udaya Kiran: The Reply: Dear Sir, Thank you for the reply. Reply By CS SANJAY MALHOTRA: The Reply: I fully en .....

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..... dorse the views of Sh. Kasturi ji. Taxability of Service will remain in GST Regime also, only change would be substitution of Service Tax with element of CGST/SGST/IGST as per the nature of Supply i.e. Intra / Inter State. Reply By Ganeshan Kalyani: The Reply: Sir, the basis of taxation would shift from service provided , goods manufactured etc. To the term supply. Hence service is taxable if su .....

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..... pply is there. Thanks. Reply By KASTURI SETHI: The Reply: Sh.Ganeshan Kalyani Ji, It is natural, Sir. Reply By YAGAY AND SUN: The Reply: Lots of work would be needed to capture the existing transaction into GST regime before its' implementation on 01/04/2017. Just revisit all your transactions whether it is related to goods or services, collect all necessary information/inputs/data/docum .....

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..... ents and then, make a representation to the Government through FICCI or ASSOCHAM to get the replies and smooth implementation of GST. Reply By Ganeshan Kalyani: The Reply: Sir, the analysis of current transaction in view of current taxation and its impact on upcoming GST is essenial to arrive at a business decision. sThanks.
Discussion Forum - Knowledge Sharing .....

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