GST ALERT!!!
Goods Transport Agency (GTA)
GTA has given 2 options to pay under Forward charge
Where GTA not exercise the options to pay under Forward charge, then recipient have to pay under RCM.
Key exemptions withdrawn in RCM for GTA:
Earlier GST need not to be paid under RCM if,
a. Gross amount charged for transportation for a consignment transported in a single carriage does not
exceed Rs. 1,500 or
b. Consideration charged for transportation of all such
goods for a single consignee does
not exceed Rs. 750.
With effect from 18-July-2022, the above exemptions were removed. GST needs to be paid under RCM, if the recipient is liable to pay GST under RCM for GTA services.
An addition to RCM ambit !!!
Renting of Residential Property and GST Impact
S No
Supplier (Owner)
Recipient (Tenant)
Purpose
Who’s liable to pay
1
Registered Person
Registered person
Residential
Recipient, i.e. Tenant
2
Registered Person
Unregistered
Residential
GST not applicable
3
Unregistered
Registered person
Residential
Recipient, i.e. Tenant
4
Unregistered
Unregistered
Residential
GST not applicable
Eligibility of ITC:
Rise in price of Pre-packaged &
Labelled goods !!!
As per Notification no 06/2022 dated 13th July 2022, for the following items if Goods are sold in Pre-packaged and labelled then GST will be applicable, earlier if the following products were sold without put up in Unit container and sold without Brand name are exempt.
Curd, Lassi, Butter milk
New GST Rate
5%
Existing GST Rate
0%
Chena or
paneer
New GST Rate
5%
Existing GST Rate
0%
Natural
Honey
New GST Rate
5%
Existing GST Rate
0%
Wheat and
meslin
New GST Rate
5%
Existing GST Rate
0%
All goods [other than
fresh or chilled]
New GST Rate
5%
Existing GST Rate
0%
Rye, Barley, Oats,
Maize (Corn)
New GST Rate
5%
Existing GST Rate
0%
Rice, Grain sorghum,
New GST Rate
5%
Existing GST Rate
0%
All goods i.e. cereals
New GST Rate
5%
Existing GST Rate
0%
Dried leguminous vegetables, shelled, whether or not skinned or split
New
GST Rate
5%
Existing GST Rate
0%
Dried makhana, whether or not shelled or peeled
New
GST Rate
5%
Existing GST Rate
0%
Buckwheat, millet and canary seed; other cereals such as Jawar, Bajra, Ragi
New
GST Rate
5%
Existing GST Rate
0%
Cereal flours other than of wheat or meslin i.e. maize (corn) flour, Rye flour, etc.
New
GST Rate
5%
Existing GST Rate
0%
Meal, powder, Flour flakes, granules and pellets of
potatoes
New
GST Rate
5%
Existing GST Rate
0%
Meal and powder of the
dried leguminous
vegetables
New
GST Rate
5%
Existing GST Rate
0%
Cereal groats, meal and pellets, including suji and dalia
New
GST Rate
5%
Existing GST Rate
0%
Jaggery of all types including Cane Jaggery (gur), Palmyra Jaggery; Khandsari Suga
Wheat or
meslin flour
New
GST Rate
5%
Existing GST Rate
0%
Manioc, arrowroot, salep, Jerusalem artichokes, sweet potatoes and similar roots and tubers with high starch or inulin content, frozen, whether or not sliced or in
the form of pellets
New
GST Rate
5%
Existing GST Rate
0%
Puffed rice, commonly known as Muri, flattened or beaten rice, commonly known as
Chira, parched rice, commonly known as khoi, parched paddy or rice coated with sugar or gur, commonly known as Murk
New
GST Rate
5%
Existing GST Rate
0%
