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Solved Queries

Ques: Want to know the threshold limit for registration under GST for a Commission Agent in trading business

Ans: It’s 20 lakh

Ques: The Final return in Form 10 is to be filed for tax payer on cancellation of GST registration on account of non-filing of tax returns. The taxpayer has CGST/SGST input credit in ledger on account of RCM . Do the taxpayer has to reverse the RCM credit availed earlier in final return and if yes under which heading of column 8.
This being paid in cash, do the taxpayer entitled for refunds?

Ans:

Every registered person whose registration is cancelled is required to pay tax by debiting of electronic credit ledger or electronic cash ledger, equivalent to the credit of input tax in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock or capital goods or plant and machinery.
Thus, in GSTR-10 taxpayer is not required to reverse ITC other than Input contained in semi finished, finished and capital goods.
Further as per provisions of section 54 refund claim of ITC is admissible in two cases i.e Inverted Duty Structure and Zero Rated Supply. thus taxpayer is not eligible for refund of excess ITC lying in its credit ledger as his case won’t fall in any of the two scenarios.

Ques:  Landlord and tenant, both are registered under GST. Query is who shall pay GST (on forward charge or reverse charge):
1. On Commercial property
2. On Residential property rented out for residence of director/partner
3. On Residential property rented out to be used as commercial property.

Can landlord issue bills for commercial property charging GST and for residential property without charging GST ?

Ans: RCM is applicable in Scenario 2 & 3.For commercial property, registered supplier will charge GST.

Caution: The above opinion is framed based on the limited information available and merely a personal opinion. We will not be responsible for any damage or loss in whatever manner consequent to any action taken on the basis of any content of this opinion. We suggest you take a detailed opinion for better clarity based on extensive information and research thereof.

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