Q. 629 Please provide link related to Rules 38 ,42 and 43

Ans. Please find link below: https://taxo.online/rules-and-forms/rule-38-claim-of-credit-by-a-banking-company-or-a-financial-institution/ and https://taxo.online/rules-and-forms/rule-42-manner-of-determination-of-input-tax-credit-in-respect-of-inputs-or-input-services-and-reversal-thereof/ and https://taxo.online/rules-and-forms/rule-43-manner-of-determination-of-input-tax-credit-in-respect-of-capital-goods-and-reversal-thereof-in-certain-cases/ 

Q. 628 During Financial Year 2018-2019 what was limit for payment of RCM on freight charges paid ?

Ans. Services provided by a goods transport agency, by way of transport in a goods carriage of— goods, where consideration charged for the transportation of goods on a consignment transported in a single carriage does not exceed Rs. 1500; goods, where consideration charged for transportation of all such goods for a single consignee does not exceed rupees Rs. 750;

Q. 627 ON WEBSITE IT IS SHOWING GST RATE OF ABOVE SAC CODE AS 18%. However, vide CIRCULAR NO. 126/45/2019 in case of goods belonging to another registered person GST Rate should be 12%. Clarification required.

Ans. (iv) Manufacturing services on physical inputs (goods) owned by others, other than [91][(i), (ia), [(ib), (ic), (ica), (id), (ii), (iia) and (iii)] above is charged at 18%.