- Can we claim GST of other state?
- Is the salary of partners or directors liable to GST?
- How do I file ITC?
- Why do we need GST?
- What is ITC 01 under GST?
- Is separate registration required for GST?
- Is GST applicable all over India?
- How do I register my company for GST?
- Can one person take 2 GST number in same state?
- Can I buy products from other states in India if I do not have a GST number?
- How do I transfer my GST from one state to another?
- Is there different GST number for different states?
- Can GST credit be transferred?
- Can we transfer ITC from one GST to another?
- What is ITC 02a?
- How do I transfer a ledger balance to GST?
- How can I get ITC in GST portal?
- What is form a under GST?
Can we claim GST of other state?
42 of the respect GST Act’s will not enable claiming of credits of other State’s or IGST having place of supply of other State’s on account of non-matching.
However till that happens, we are of the view that ITC of any tax type can be claimed under CGST Act, 2017 or IGST Act, 2017..
Is the salary of partners or directors liable to GST?
13/2017- Central Tax (Rate) dated June 28 2017. As per this circular, it has finally been clarified that the services of an independent director and its subsequent remuneration are subject to GST by reverse charge mechanism.
How do I file ITC?
Guide to GST Portal for filing ITC-04Login to the GST Portal.Go the Services>>Returns>>ITC Forms.Go to “Prepare Offline” Upload invoices.Once invoices are uploaded then click ‘Initiate Filing’.Select tax period.Check taxable amount and other details.Finally, file the return with DSC or EVC as applicable.
Why do we need GST?
The Goods and Service Tax (GST) came into effect from July 2017. It subsumes 17 different taxes levied by the Central and State/UT Governments. The one nation, one tax system aims to improve India’s competitiveness in global markets. GST will ensure minimal cascading of taxes and thus, an anti-inflationary approach.
What is ITC 01 under GST?
Form GST – ITC 01 is a declaration form filed on GST portal for claiming the input tax credit by taxpayers newly registered under GST. Filing of this form is mandatory to claim ITC on such stock. … Types of input tax credit allowed. Cut-off dates for claiming of ITC and the timelines.
Is separate registration required for GST?
Therefore according to the applicant, they are not required to have any separate GST registration in Karnataka State. Section 10(1) of the IGST Act 2017 determines the place of supply of goods, other than supply of goods imported into, or exported from India, which has two clauses i.e. (a) and (b).
Is GST applicable all over India?
After the enactment of various GST laws, Goods and Services Tax was launched all over India with effect from 1 July 2017. The Jammu and Kashmir state legislature passed its GST act on 7 July 2017, thereby ensuring that the entire nation is brought under a unified indirect taxation system.
How do I register my company for GST?
How to Register for GSTGo to official GST portal – https://www.gst.gov.in/ and under the services tab, choose Services > Registration > New Registration. … On the Registration page, enter all the requested details (including your PAN number), email address and mobile number.After entering the details, click proceed.More items…
Can one person take 2 GST number in same state?
Section 25(1) CGST Act, 2017 – Every Person shall apply for GST registration in every State or Union territory in which he/she is liable to register. … This means two distinguished businesses can be operated with multiple GST registration within same state or Union territory applied with the same PAN of the applicant.
Can I buy products from other states in India if I do not have a GST number?
The GST Council has now decided that service providers will be allowed to make inter-state supplies of up to Rs 20 lakh without GST registration. A notification is expected within a week. Is it possible for us to purchase goods from an authorised distributor of a manufacturer and export the same?
How do I transfer my GST from one state to another?
In case you have obtained the separate registration for multiple places of business in a State/UT, you can transfer ITC in ‘Form GST ITC-02A’ within 30 days after obtaining such registration. There are certain situations where an individual has separate GST registrations for different or same businesses.
Is there different GST number for different states?
of another state of same business? As we know PAN is important for each GSTIN. In case of multiple state operations a person needs to take multiple registrations for the same business. Therefore, when new GST number of different states arrives the PAN number remains the same only state code and entity code will change.
Can GST credit be transferred?
A registered taxpayer can apply for transfer of matched input tax credit that is available in the Electronic Ledger to another business organization in case of transfer of business by way of sale of business/ merger/ demerger by the filing of ITC declaration in Form GST ITC – 02.
Can we transfer ITC from one GST to another?
Update the GSTIN of the transferee and enter the amount to be transferred under each major head. The Form GST ITC-02 will open up and the amount of unutilised ITC will get auto-populated in the form from the electronic credit ledger. The transferor can transfer the entire amount or partial ITC, as the case may be.
What is ITC 02a?
ITC-02A is a declaration for transfer of unutilized ITC from the existing entity of a registered taxpayer to a newly registered entity (different place of business) in the same state or union territory. In a usual scenario, every business under GST is bound to take one registration (GSTIN) in every state of operation.
How do I transfer a ledger balance to GST?
Procedure to file PMT 09:Step 1: Go to www.gst.gov.in and Log in to GST portal.Step 2: Now under “Service” tab Go to “Ledger” tab and click on “Electronic Cash Ledger” option.Step 3: Click on “File GST PMT 09 for transfer amount” option.Step 4: Filling PMT 09 form.Step 5: Filing of form:
How can I get ITC in GST portal?
Here are the steps to view an Electronic Credit Ledger in the GST Portal.Step 1: Log in to the Portal. The taxpayer has to login to the official GST Portal.Step 2: Enter the Details. … Step 3: Click Electronic Credit Ledger. … Step 4: Select the Time Period. … Step 5: Click GO. … Step 6: Click Save.
What is form a under GST?
The EOU/ EHTP/ STP/ BTP unit must give prior intimation by filing Form A to the supplier and the jurisdictional GST officer of supplier and recipient. Form A must bear a running serial number and contain details of goods to be procured, which is pre-approved by the Development Commissioner.