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Ramesh Sharma
Enlightened
Asked: In:

  1. CA Vishnu Ram Enlightened

    Hi, I am breaking your question into multiple pieces to make it easier to understand. Payment to Nonresident Taxable Person (NRTP) Section 2(77) of CGST Act, 2017 says that a Non-Resident Taxable Person means "any person who occasionally undertakes transactions involving the supply of goods or serviRead more

    Hi,

    I am breaking your question into multiple pieces to make it easier to understand.

    Payment to Nonresident Taxable Person (NRTP)

    Section 2(77) of CGST Act, 2017 says that a Non-Resident Taxable Person means “any person who occasionally undertakes transactions involving the supply of goods or services, or both, whether as principal or agent or in any other capacity, but who has no fixed place of business or residence in India.”

    Requirement of Registration in India 

    Section 24 of the CGST Act, 2017, required NRTP to register under GST law mandatorily five days before the commencement of the business irrespective of the minimum threshold turnover limit.

    Applicability of RCM

    Since NRTP requires the registration, he has to deposit tax in advance, equivalent to the estimated tax liability calculated on the value of taxable supply for the period for which the registration has been obtained.

    Conclusion: GST should be paid under forward charge, not under reverse charge.

     

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girishgadiya108@gmail.com
Beginner
Asked: In:

  1. CA Manish Kumar Gupta Enlightened

    Hi, An elevator is treated as a part of the building. An elevator is an integral part of the building and doesn't have a separate identity i.e it cannot be sold as individual peace. It is designed and assembled as per the requirement of a building which makes it an integral part of the building. WeRead more

    Hi,

    An elevator is treated as a part of the building.

    An elevator is an integral part of the building and doesn’t have a separate identity i.e it cannot be sold as individual peace. It is designed and assembled as per the requirement of a building which makes it an integral part of the building.

    We can refer to the explanation of section 17 (5) of the CGST Act as  the expression “plant and machinery” means apparatus, equipment, and machinery fixed to earth by foundation or structural support that are used for making outward supply of goods or services or both and includes such foundation and structural supports but excludes-

    (i) land, building or any other civil structures;

    (ii) telecommunication towers; and

    (iii) pipelines laid outside the factory premises.

    Section 17(5)(d) does not allow to take ITC on goods or services or both received by a taxable person for the construction of an immovable property.

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girishgadiya108@gmail.com
Beginner
Asked: In:

  1. CA Manish Kumar Gupta Enlightened

    Yes, ITC is allowed in the Air conditioner subject to the condition that it is not accounted as Land & Building and used in the course or furtherance of the business. Assessee should disclose it as Plant and Machinery. ITC is not allowed on immovable property as per section 17(5)(d).  

    Yes,

    ITC is allowed in the Air conditioner subject to the condition that it is not accounted as Land & Building and used in the course or furtherance of the business. Assessee should disclose it as Plant and Machinery.

    ITC is not allowed on immovable property as per section 17(5)(d).

     

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CA Alka Gaharwar
Beginner
Asked: In:

  1. CA Manish Kumar Gupta Enlightened

    Yes, an E-invoice can be generated for backdated invoices and there is no time limit for businesses with a turnover of less than 100 crore. GST portal is allowing it. But rule 48 says that every business having a turnover of more than 5 Cr must issue an E-invoice and section 31 says that a Tax invoiRead more

    Yes, an E-invoice can be generated for backdated invoices and there is no time limit for businesses with a turnover of less than 100 crore. GST portal is allowing it.

    But rule 48 says that every business having a turnover of more than 5 Cr must issue an E-invoice and section 31 says that a Tax invoice should be issued before or at the time of supply of service or delivery of goods.

    Accordingly, in my opinion, in your case, E-invoice is mandatory and it must be issued as per the normal timeline. GST portal is allowing you to generate the e-invoice on a later date but that does not mean that you are allowed to violate Rule 48 and section 31.

    in the best scenario, an E-invoice should be generated before the filing of GSTR-1 so that it can be auto-populated.

    Thanks

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Ramesh Sharma
Enlightened
Asked: In:

  1. Advocate Dr Amit Dua Explainer

    Businesses often use the same assets and inputs for both business & personal use. For example, Ms. Anita owns a grocery shop. She rents a 2-storey building and uses the ground floor for her shop and 1st floor of the same building as residence. The input credit of GST paid on rent will be allowedRead more

    Businesses often use the same assets and inputs for both business & personal use. For example, Ms. Anita owns a grocery shop. She rents a 2-storey building and uses the ground floor for her shop and 1st floor of the same building as residence. The input credit of GST paid on rent will be allowed only to the extent it pertains to her business. Ms. Anita also has an attached land where she grows vegetables and sells them in her shop. The same property or common property is used for 3 separate reasons- taxable sales, exempted sales (vegetable) and personal expenses (residence). While Ms Anita is eligible to claim input credit for GST paid by her on her business expenses, some of the expenses are used for both business and nonbusiness purposes. The GST in rent (GST is applicable since it is let out for commercial purposes) is the common credit.

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