Thank you sir for aware about the impact of Judgment related to "Intermediary" - As per your advice, still wait for Final conclusion given by H'ble SC in this matter.
As per Notification No. 37/2017-Central Tax dated October 4, 2017, wherein the conditions have been prescribed for furnishing Letter of Undertaking. Further, as per Para 2(c) and 2(d) of Circular No. 08/08/2017-GST dated October 04, 2017, the registered person is required to furnish Letter of Undertaking online by submitting Form GST RFD-11 on the common portal. Letter of Undertaking would deem to be accepted as and when acknowledgement is received online. Also, no document is required to be submitted physically to jurisdictional officer for acceptance of LUT. Thus, it is advisable to file LUT online for FY 2023-24.
Sir if an IATA agent located in india & getting commission from airline company located outside India for booking if ticket whether such service will be treated as intermediary service for determining the place of supply as per section 13 of IGST Act
Sir, I have a query whether this will benefit overseas education agents working with foreign universities on a commission basis by sending Indian students to foreign universities in the USA, UK, etc. Thank You.
Watch purchase from other state ( haryana) and our gst registration is in Delhi , so in this case supplier ko igst ka bill banana hoga kya.??? Or agar vo sgst and cgst ka bill banate hai to kya itc ham claim kar sakate hai.????
When a purchase is made from another state, in this case from Haryana, and your GST registration is in Delhi, the supplier is required to charge IGST (Integrated Goods and Services Tax) on the bill. This is because IGST is levied on inter-state supplies, as per the GST framework in India. The IGST model ensures that the GST accrue to consuming state, i.e., Delhi.
Sir , I have a query whether invoice raised by supplier dated 29 th March 2023 and input not claimed by recipient due to dispute in contract and also conditions for claiming ITC are also not satisfied in March 2023, it got satisfied in the month of April 2023 reflected in 2B in April 2023. Credit note was not raised by the supplier for that invoice up to the due date prescribed by the act (30th Nov 2023). In this case whether the recipient can claim itc of that invoice in 2023-24 year in which condition ragriding claiming itc was satisfied in April 2023. Thanks and regards.
If the conditions for claiming Input Tax Credit (ITC) were not satisfied in March 2023 but were fulfilled in April 2023, and the invoice is reflected in GSTR-2B for April 2023, the recipient can claim the ITC in the financial year 2023-24. This is because the eligibility to claim ITC is contingent upon meeting the conditions outlined in Section 16 of the CGST Act, 2017, which include possession of a tax invoice, receipt of goods or services, and payment of the invoice amount including tax. Since the conditions were satisfied in April 2023, and assuming the invoice details are correctly reflected in GSTR-2B for April 2023, the recipient can claim the ITC in the tax period in which these conditions are met, subject to the compliance with other relevant provisions of the GST law. It is important to note that the recipient should ensure that all other conditions for claiming ITC as per GST law are also satisfied, including the timely filing of returns and adherence to the time limit for availing ITC as per Section 16(4) of the CGST Act, which clearly states that the registered person would not be entitled to take input tax credit of invoice or debit note for supply of goods or services or both after the 30th day of November or date of filing of annual return whichever is earlier.
@@cabimaljain thanks for your reply sir, so it means ITC related to invoice of 2022-23 even if conditions satisfied in next financial year it need to be claimed with in time prescribed ie 30 th of november and it will not be available after November 2023 to March 2024 is it right sir?
No, as per Entry No. 18 of Notification No. 12/2017-Central Tax (Rate) dated June 28, 2017 notifying the exemption on supply of service by way of transportation of goods by road other than the service provided by goods transportation agency, courier agency and inland waterways. In the present case, no GST would be leviable as the registered person would not fall within the purview of Goods Transport Agency as goods are transported without issuance of consignment note/bilty.
Sir if app developer supplier is registered in india and apple as oidar, paying gst on customer price and remitting net proceeds after deducting his 30% commission. On which value i am liable for gst? Eg customer price 499 less gst 76 = 423 less comm 127 = 296. I am liable for gst on 423 or 296 and what provision
Sir, What would be the situation if foreign seller is appointing a person to sell his Capital Goods and pays fees / brokerage in forex to the indian resident assisting for the sale?
Just watched your presentation, Hemanth ji. It's excellent, educative, informative, and thought-provoking, Hemanth ji.
I wrongly typed your name, Bimalji . Sorry
Thank you sir for aware about the impact of Judgment related to "Intermediary" - As per your advice, still wait for Final conclusion given by H'ble SC in this matter.
Absolutely genius is sir
Sir can i apply the offline LUT.... As per notification 37/2018 ( para 4.1) for year 2023-2024
As per Notification No. 37/2017-Central Tax dated October 4, 2017, wherein the conditions have been prescribed for furnishing Letter of Undertaking. Further, as per Para 2(c) and 2(d) of Circular No. 08/08/2017-GST dated October 04, 2017, the registered person is required to furnish Letter of Undertaking online by submitting Form GST RFD-11 on the common portal. Letter of Undertaking would deem to be accepted as and when acknowledgement is received online. Also, no document is required to be submitted physically to jurisdictional officer for acceptance of LUT. Thus, it is advisable to file LUT online for FY 2023-24.
@@cabimaljain but sir the portal not showing the year 2023-2024 for LUT SO, Can i physically submit the LUT form 11 to concern officer.
Can mutual fund distributor be called intermediary agent??
Sir if an IATA agent located in india & getting commission from airline company located outside India for booking if ticket whether such service will be treated as intermediary service for determining the place of supply as per section 13 of IGST Act
Name of the cestat case law?
Sir, I have a query whether this will benefit overseas education agents working with foreign universities on a commission basis by sending Indian students to foreign universities in the USA, UK, etc. Thank You.
👍👍
Watch purchase from other state ( haryana) and our gst registration is in Delhi , so in this case supplier ko igst ka bill banana hoga kya.???
Or agar vo sgst and cgst ka bill banate hai to kya itc ham claim kar sakate hai.????
When a purchase is made from another state, in this case from Haryana, and your GST registration is in Delhi, the supplier is required to charge IGST (Integrated Goods and Services Tax) on the bill. This is because IGST is levied on inter-state supplies, as per the GST framework in India. The IGST model ensures that the GST accrue to consuming state, i.e., Delhi.
@@cabimaljain thank you🙏🙏🌹
Sir , I have a query whether invoice raised by supplier dated 29 th March 2023 and input not claimed by recipient due to dispute in contract and also conditions for claiming ITC are also not satisfied in March 2023, it got satisfied in the month of April 2023 reflected in 2B in April 2023. Credit note was not raised by the supplier for that invoice up to the due date prescribed by the act (30th Nov 2023). In this case whether the recipient can claim itc of that invoice in 2023-24 year in which condition ragriding claiming itc was satisfied in April 2023. Thanks and regards.
If the conditions for claiming Input Tax Credit (ITC) were not satisfied in March 2023 but were fulfilled in April 2023, and the invoice is reflected in GSTR-2B for April 2023, the recipient can claim the ITC in the financial year 2023-24. This is because the eligibility to claim ITC is contingent upon meeting the conditions outlined in Section 16 of the CGST Act, 2017, which include possession of a tax invoice, receipt of goods or services, and payment of the invoice amount including tax. Since the conditions were satisfied in April 2023, and assuming the invoice details are correctly reflected in GSTR-2B for April 2023, the recipient can claim the ITC in the tax period in which these conditions are met, subject to the compliance with other relevant provisions of the GST law. It is important to note that the recipient should ensure that all other conditions for claiming ITC as per GST law are also satisfied, including the timely filing of returns and adherence to the time limit for availing ITC as per Section 16(4) of the CGST Act, which clearly states that the registered person would not be entitled to take input tax credit of invoice or debit note for supply of goods or services or both after the 30th day of November or date of filing of annual return whichever is earlier.
@@cabimaljain thanks for your reply sir, so it means ITC related to invoice of 2022-23 even if conditions satisfied in next financial year it need to be claimed with in time prescribed ie 30 th of november and it will not be available after November 2023 to March 2024 is it right sir?
Sir. I am a gst trader and also hire truck and do transportation service without issue any bilty , gst applicable ,,?
No, as per Entry No. 18 of Notification No. 12/2017-Central Tax (Rate) dated June 28, 2017 notifying the exemption on supply of service by way of transportation of goods by road other than the service provided by goods transportation agency, courier agency and inland waterways. In the present case, no GST would be leviable as the registered person would not fall within the purview of Goods Transport Agency as goods are transported without issuance of consignment note/bilty.
Sir if app developer supplier is registered in india and apple as oidar, paying gst on customer price and remitting net proceeds after deducting his 30% commission. On which value i am liable for gst? Eg customer price 499 less gst 76 = 423 less comm 127 = 296. I am liable for gst on 423 or 296 and what provision
Sir, What would be the situation if foreign seller is appointing a person to sell his Capital Goods and pays fees / brokerage in forex to the indian resident assisting for the sale?