Exempted income -GST Payable suomoto -

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..... Exempted income -GST Payable suomoto -
Query (Issue) Started By: - SIVARAMA KUMAR Dated:- 27-11-2019 Last Reply Date:- 29-11-2019 Goods and Services Tax - GST
Got 2 Replies
GST
Dear exper .....

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..... ts, Is there any provision under the GST act which prohibits a registered dealer who has not opted for composition scheme, to Pay Gst on his exempted income (without collecting it from consumers ) ou .....

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..... t of his pocket in cash ( No ITC would be availed or adjusted) Reply By Ganeshan Kalyani: The Reply: GST is applicable on the taxable outward supply. It is not on income. It is a tax on the value of .....

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..... supply. The registered person has to charge GST by showing the tax on the face of the invoice. There is no tax on the exempted supply. Reply By KASTURI SETHI: The Reply: GST or any tax cannot be de .....

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..... posited on one's own volition. I agree with the views of Sh.Ganeshan Kalyani Ji. Non-provision of such prohibition does not imply that tax can be deposited on exempted supply.
Discussion For .....

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..... um - Knowledge Sharing .....

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