Q. 514 Machinery installed in a restaurant and appearing in the balance sheet whether taxable under GST after closure of the business ? Please note that no ITC was ever claimed on the purchase of such machinery and GST @5% was being charged on the sale of food. Furthermore, what would be it’s taxability if the machinery is sold after closure of restaurant business ?

Ans. Apparently, GST will be levied on the disposal of the machinery. Further, it depends upon how and whom the sale has been done.

Q. 513 Sir, A chartered Accountant under Composition scheme issued Bill of Supply for 10000 to a client . But client gives only 8000 in full settlement . What amount to be reported in CMP08 and tax paid ?

Ans. You are required to raise a credit note and discharge tax on 8000 only.

Q. 512 For QRMP dealer we file sep22 quarter gstr-1 on 13/10/2022 in which by mistake B2C amended for fy 2021-22 done, which increase tax liability by XXX amt while assessee have no 21-22 amendment. After that in 3B we reduce wrong sales & wrong tax and deposit correct tax amt & file gstr-3b. Now as we are not able to amend the same in next quarter gstr-1 and on portal tax liability status of assesee shows only 53% tax paid in quarter Jul-Sep(22). please provide the correct solutions for correction of status from 53% to 100% and for difference in gstr-1 and gstr-3b and also provide solution that short payment status of tax also impact on ITC taken by buyer or not, if yes then suggest us what to do now.

Ans. The only remedy available is to rectify the issue in Annual Return.