Q. 421 Suggest Budget impact on GST ?

Ans. You can refer to the below news. https://taxo.online/latest-news/03-12-2022-budget-2023-24-phd-chamber-seeks-single-gst-rate-for-hotels-at-12/

Q. 420 A -Owner of a Land ,B-Holder of Power of Attorney (Attorney to sell Land of “A” by agreement between “A' & “B”). C-End Buyer of Land.As B holds the power of attorney ,Who involved in the process of interacting with end buyer to sell the land of “A”.When B finalize the deal with end buyer (“c”).The whole sale consideration is received by party “B”(Lets Assume Rs.1000/-).Out of which a portion of amount is paid to party “A” as consideration for land sale to the land owner by party “B” (for instance Rs.550) remaining amount is retained in the hands of party “B” as consideration.[Total consideration received from party “C” (-) Amount paid to party “A”(=) Income for Party “B”].In this scenario Rs.1000 – Rs.550= Rs.450 (Retained as Income in the hands of Party “B”]. “A” power of Attorney receiving some income out of Land Sale.Whether GST Applicable for his income or Not?

Ans. “Sale of land and, subject to clause (b) of paragraph 5 of Schedule II, sale of building” is the transaction which shall be treated neither as a supply of goods nor a supply of services under schedule III. In the nature of sale of land, since transaction involving principal-to-principal basis is covered under schedule III under GST act, therefore GST will not be levied. Also, GST will not be levied on the income portion received.

Q. 419 Sir, While filing the annual return 2020-2021, due to error in filling up the annual return, a negative liability arises. In 21-22, I have declared voluntarily higher tax due in CMP08 Third Quarter . While filing the Annual return for 21.22, the portal showed an error message asking me to pay the taxes and correct the data of outward supply and tax due. Mean while the Department settled the negative liability issues for Assessee. But in my case the Portal reveals I have an arrear of tax related to 3 rd quarter 21.22 , Can you suggest me any solution ?

Ans. In the above case, you may raise a GST grievance on the below portal https://selfservice.gstsystem.in/.