Goods And Services Tax

GST Q&A

The Goods and Services Tax (GST) aims at unifying India's $2 trillion economy and 1.3 billion people into one of the world's biggest common markets. To help understand the complex nature of the new tax regime and its impact, our experts, Prakash Sinha, Aseem Chawla, Ashok Batra, Gaurav Garg, Rakesh Nanda and Preeti Khurana answer questions posted by our viewers. Email your questions at askaboutgst@ndtv.com

Question: Now that GST has rolled in, what is of critical importance to traders, shopkeepers, assuming that most of them have registered with the GST?
Question: Some small shopkeepers are still issuing hand written bills. How does it work?
Question: How can the company ensure that this is being done at a small level?
Question: There is no mention about the GST rate on imitation jewellery. Will it attract 18% GST rate?
Question: We have registered through the GST registration process, and got the GST number on a personal PAN card. Now, we want to change the PAN card number to the firm's PAN card, but we are unable to do so. Please suggest what to do?
Question: Will 10-20 percent be the average GST rate in the long run? 28% is a very high rate.
Question: I have purchased a flat from a builder who got completion and occupancy certificate. My first payment was made after the builder got both the certificates. I was not charged service tax and VAT. Will I be charged GST now?
Question: I have two questions related to the composition scheme. First, after getting the GST registration number, what do I need to do to avail the composition scheme? Second, as a composition, I am not allowed to make sales outside my state but can I make purchases from another state?
Question: If I am raising an invoice for a customer who is in Bangalore, what do I write on the invoice?
Question: I do aquarium business, and I supply fishes to different states. We also supply accessories with that. How will the GST affect us?
Question: I have two questions regarding the restaurant industry. I went to an AC restaurant, they charged me a GST of 18 percent and a service charge of 10%. Are the restaurants authorised to charge service charges or it is at their discretion? Secondly, is the GST applied on food delivery constant for all restaurants or there is a difference between AC and non-AC restaurant as well?
Question: If I am a dealer from Uttar Pradesh, can I purchase or sell inter-state? My turnover is Rs. 25 lakh?
Question: I am a distributor of products manufactured in Gujrat and sold in Andhra Pradesh. The products have 28% tax rate and I want to know how a distributor can claim input tax credit for interstate transactions?
Question: I just wanted to know that being a management consultant I have to pay service tax at the rate of 15%. My questions are related to this are: Do I need to pay service tax for this quarter right away and will be charged GST from next quarter? And if so, then what would be the rate of tax for management consultancy and service consultancy?
Question: I would like to know the impact of GST on cell phone and T.V prices. Will they go up or come down?
Question: I am a dealer in vegetables and fresh ginger, my turnover is more than Rs. 50 lakh per annum. I will be sending fresh ginger from Karnataka to Uttar Pradesh, Delhi and Andhra Pradesh. All fruits and vegetables which I am dealing with are exempt from GST. Do I have to register for GST and, if yes under what rule.
Question: I am a small seller having an arts hobby. I sell items that I make on online platforms like Craftsvilla, Craftsy etc. My turnover is not more than Rs 1,000 a month. I have been asked by a website to submit my GST registration number. I don?t have a company, I don?t have a partnership firm, I?m just an artist selling whatever I make at home. Why are online sites asking for my GST registration number? What should I do now?
Question: Please let me know about the GST implications for a home buyer. At present, the buyer has to pay 4.5% service tax in addition to the stamp duty, during procession. While stamp duty will remain the same, how GST will impact a buyer buying an under-construction house.
Question: I have one property in the name of my wife and that has been leased to a company. And the total rent is something around Rs 50,000 per month. Do I need to pay GST on rental income?
Question: I?m an industrial trader in Tumakuru. My trading is limited within Rs. 75 lakh but I heard that I can go for the composition scheme. If I go the composition scheme, I will not get input credit. Please suggest what to do
Question: I wanted a clarification on what tax the race course has to pay on betting on race horses?
Question: I have booked a house with a base price Rs 33 lakhs. And earlier I had to pay 4.5% service tax. Now he says I have to pay 18% GST. I?ve not understood why it is so much higher. I also have a doubt whether I only have to pay the service part of that cost or it includes cost of the land as well as cost of the material and services. It is under construction and I have paid almost 85% and remaining about 15% is left. It is under construction, not yet completed, however the due date for construction is over.
Question: What is the effect of GST of the small car?
Question: I was hearing that we are unable to register before 30th so will it be good to register a house before a 30th or after the 30th. What would be the rate applicable after 30th and before 30th? If you could give me an idea? The house is ready for possession.
Question: My question is in four different parts. One thing is that ATM withdrawal, from ATM counter as well as a shop. Do we have to pay any GST for that? That's number one. Number two, whenever I sell my shares in the market. What is the GST rule applicable for that? In the mutual fund, whatever I send in the market back to the mutual fund. What is the GST? And in terms of financial advisors, do we have to pay GST?
Question: I wanted to know if I wanted buy a whole house then what will be the GST on that?
Question: How will GST affect my current stock of goods, whose value is above Rs 70 lakhs? I?ve already payed CST.
Question: How do I know if the price quoted to me by the retailer is the same as charged by the manufacturer on which IGST is paid?
Question: But how would an end customer know whether he/she has received the benefit of the GST?
Question: I am a telecom distributor and until now, the companies were paying my service tax and everything. What are the new guidelines for telecom distributors? Will we pay tax or the company?
Question: How would a particular consumption of goods and services be taxed simultaneously in central and state GST?
Question: Do I need to file returns every month? Can I raise an invoice with my GST registered number in Maharashtra if services are rendered outside the state?
Question: Till date, there was no tax on solar cooker, but today I was forced to charge 28% GST. That?s very surprising. My question is what is the rate on solar cookers?
Question: We were textile fabric dealers, which was tax-free until now. Now, it?s tabled under GST. Will I get input tax credit?

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