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TMI BlogFrequently Asked Questions - GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... Frequently Asked Questions - GST - Goods and Services Tax - GST Dated:- 13-12-2017 - News - Q. Whether RCM is applicable for the professional services rendered by director of a company to the same company? Ans. Yes Pls refer to notification no. 13/2017-CT(Rate) dated 28.06.2017 Q. As per the decision taken in 23 rd GST Council meeting , GST rate for Composition dealers (Manuf ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... actures traders) has been made as 1% Official Notification has still not been released by CBEC. Whether one can file GSTR-4 by taking 1% rate or does one need to wait for Notification? Ans. Unless notified, a decision of the Council is not effective. Q. Can we file two refund claims of accumulated ITC applications separately. One for goods and other for services exported under LU ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T in the same tax period? Ans. Yes Q. I opted out of composition scheme in November, 2017? Which return I need to file for October month? Ans. For October, GSTR 4 has to be filed while for November onwards, FORM GSTR-3B needs to be filed. Q. Advance was given when rate was 28% and our vendor has paid tax on it. Subsequently rate has fallen to 18%. Will the invoice wil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l be raised at 18% ? If yes, what to do of additional 10% paid as advance? Ans. Assuming supply happened after the change in tax rate, the time of supply is date of issue of invoice. Therefore, 18% Additional tax paid can either be adjusted in subsequent months or claimed back as refund Q. On my website, I show Google ads, for which I can t generate invoice, Google calculates my earni ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng and transfers to my bank account. For brands, which gives ads directly to me I generate invoice. My annual Turnover hasn t crossed ₹ 20 Lakhs. Do I need to register for GST? Ans. Registration is required when the aggregate turnover exceeds ₹ 20 lakhs Q. Is transition credit of excise duty available on an inter-State sale made on 23 rd June 2017 but delivery is yet to b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e taken? Kindly clarify Ans. If credit of the excise duty was taken in the last return filed under excise, then it is eligible for transition - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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