Surajit Sarkar (MBA) (267 Points)
23 September 2018
Kunal Pansari
(Accountant)
(1037 Points)
Replied 23 September 2018
prasad Nilugal
(3914 Points)
Replied 23 September 2018
Kunal Pansari
(Accountant)
(1037 Points)
Replied 23 September 2018
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 23 September 2018
Ho I am sorry , he is asking ITC in 3B .
Kunal Pansari
(Accountant)
(1037 Points)
Replied 23 September 2018
Jatin
(Accountant)
(3479 Points)
Replied 23 September 2018
Vinod Babu
(24191 Points)
Replied 23 September 2018
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 24 September 2018
SHOW IN EXEMPT IF EXEMPT
Guru Manohar
(Assistant Manager)
(53 Points)
Replied 24 September 2018
There is diff between, Expense come under GST or not GST.
For example: Salary is not under GST, Penalties paid Govt, fuel exp (those not taxed as per GST Act) etc. - These type of expenses you no need to show any where in GST returns.
and on other hand some expenses are under GST perview but declared as NIL rated (Specific supplies) / Exempted / Zero rated suplies. For example: Supllies to SEZ/Exports are zero rated. This kind of supplies you are required to show in GST return even though supllies without GST.
Interest you pay is not a service and does not attract GST or any other tax so you are not required to show in return. However, any chargeable service such as home collection of interest, processing fees etc. attracts GST currently at 18%.
Guru Manohar
(Assistant Manager)
(53 Points)
Replied 24 September 2018
There is diff between, Expense come under GST or not GST.
For example: Salary is not under GST, Penalties paid Govt, fuel exp (those not taxed as per GST Act) etc. - These type of expenses you no need to show any where in GST returns.
and on other hand some expenses are under GST perview but declared as NIL rated (Specific supplies) / Exempted / Zero rated suplies. For example: Supllies to SEZ/Exports are zero rated. This kind of supplies you are required to show in GST return even though supllies without GST.
Interest you pay is not a service and does not attract GST or any other tax so you are not required to show in return. However, any chargeable service such as home collection of interest, processing fees etc. attracts GST currently at 18%.
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