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Here to solve any GST related query.

Jeet Vachharajani (Student) (417 Points)

20 June 2017

Please feel free to ask me any GST related query if anyone has a confusion regarding it or is seeking help in this new tax reform.

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32 Replies

rocky (accountant) (948 Points)
Replied 20 June 2017

if i purchase stationary items (expenses), computer (fix asset) , petrol (conveyance expenses) for my business. from a un registered person... should i pay under RCM

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manish jain (nothing) (67 Points)
Replied 20 June 2017

we have stock of Rs. 1 Lakh on appointed day of jewellery and stock pertains to URD purchase made during the year,
can we take transition input of 40% on stock on appointed day

manish jain (nothing) (67 Points)
Replied 20 June 2017

we have stock of Rs. 1 Lakh on appointed day of jewellery and stock pertains to URD purchase made during the year,
can we take transition input of 40% on stock on appointed day

Jeet Vachharajani (Student) (417 Points)
Replied 20 June 2017

Hi Rocky. Reverse charge means the liability to pay tax is by the recipient of goods/services instead of the supplier.
Reverse charge may be applicable for both services as well as goods. So you will have to pay GST under RCM irrespective of the expenses of your incurring.

VIKAS SAINI (1163 Points)
Replied 20 June 2017

after paid the rcm on stationary.then can we take the itc

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Jeet Vachharajani (Student) (417 Points)
Replied 20 June 2017

Yes you can. But for you to avail ITC, the stationery guy has to register himself.

Jeet Vachharajani (Student) (417 Points)
Replied 20 June 2017

Also to clarify, that all these goods or stationery or computer or X - Y - Z, have to be purchased for commercial purposes and not personal use.

venkat (Manager Finance and Accounts) (29 Points)
Replied 20 June 2017

Hi Jeet,

1.Tell me clearly about GST for Builders and developers, what is the rate of GST and in that what is CGST , SGST , IGST and input tax implications.

2.What is the implications, if land value included and if not inclued.

Answer with specific rule and section. No assumptions please..........

Mukesh (Paid Assistant) (27 Points)
Replied 20 June 2017

Can you please help clarify on what will happen to stocks with a trader that were purchased at a lower VAT rate for eg at 14% vs the new GST rate applicable would be 28%. Who will have to bear the incidence of higher tax. Are there any other provisions one should be aware of transition goods ?

Arun Bansal (3 Points)
Replied 20 June 2017

Sir As with the applicability of gst in 1 st July whether businessman have to reprint their bill books as per gst no. And prescribed format or there is any alternative ...???

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Jeet Vachharajani (Student) (417 Points)
Replied 20 June 2017

Hi Mukesh.
CGST Act quite clearly says that such dealers and traders can
avail input tax credit in respect of goods in stock with them as on 1-7-2017 on which Vat and/or excise duty
has been paid and for which they have duty paying documents, which are less than 12 months old i.e. invoices
issued on or after 1-7-2016 will be eligible for input tax credit.

Jeet Vachharajani (Student) (417 Points)
Replied 20 June 2017

There is provision for 'deemed credit' even where the trader or dealer does not have Vat paying document.

Jeet Vachharajani (Student) (417 Points)
Replied 20 June 2017

Guys, please contact me on my Instagram or Facebook profile mentioned in my profile as I can't revert back to all.

GANESH RAMCHANDRAN (cfo) (27 Points)
Replied 22 June 2017

We have cars which we have taken on lease .under gst willl we get input tax credit on the gst charged on lease rental.
What will be gst on lease rental.
quote section in the reply for me to understand and read