Wht is the rate for composition scheme for manufacturer?.
0.5% for cgst & 0.5% for sgst na?
Yes, you're right. It is 1%
0.5% each for CGSTand SGST.
14 Replies
Aditi
(Job)
(205 Points)
Replied 21 September 2018
Thankss.
Btw if we have paid audit fees telephone expenses on which gst is charged than can v claim that credit? As it is not used in furtherance of our business
Btw if we have paid audit fees telephone expenses on which gst is charged than can v claim that credit? As it is not used in furtherance of our business
Rohit Tibrewal
(Student & Senior Accountant)
(3193 Points)
Replied 21 September 2018
Expenses paid under Composition Scheme, not eligible for ITC. And for the above mentioned services if it was not taken in the Course or Furtherance of Business ITC can't be claim. Except in Import of Services with consideration.
Aditi
(Job)
(205 Points)
Replied 21 September 2018
M not asking related to composition scheme
Normal busines cant take all this itc na?
Normal busines cant take all this itc na?
Rohit Tibrewal
(Student & Senior Accountant)
(3193 Points)
Replied 21 September 2018
As it's not in course or Furtherance of Business, so no ITC.
Vinod Babu
(24191 Points)
Replied 21 September 2018
You can't claim ITC which is not in course of furtharance of business.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 21 September 2018
Yes you can claim ITC on Audit fee & telphone expense if you are reqular dealer
Rohit Tibrewal
(Student & Senior Accountant)
(3193 Points)
Replied 21 September 2018
@ Pankaj Sir he said that service was taken not in course or Furtherance of Business
Aditi
(Job)
(205 Points)
Replied 21 September 2018
Actly in one author's book he have taken the credit of this services so m aksin
Rohit Tibrewal
(Student & Senior Accountant)
(3193 Points)
Replied 21 September 2018
May be it was Import of Services
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 22 September 2018
HOW CAN BE AUDIT FEE IS NOT COVER UNDER BUSINESS ACTIVITY .... I COULD NOT UNDERSTAND,,, PLZ EXPLAIN ME
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