Brief Summary
This YouTube video by CA Akshansh Garg provides a detailed walkthrough of several GST case studies. The video covers a range of topics within GST, including composite and mixed supply, taxability of penalties and interest, free gifts, services to related parties, transportation services, exemptions for agricultural produce and relief materials, reverse charge mechanism (RCM), time of supply, e-way bills, input tax credit (ITC), composition scheme, and more.
- Composite and Mixed Supply
- Taxability of Penalties and Interest
- Free Gifts and Services to Related Parties
- Transportation Services and GTA
- Exemptions and Reverse Charge Mechanism
- Time of Supply and E-way Bills
- Input Tax Credit and Composition Scheme
Case Study 11: Composite Supply, Penalties, and Free Gifts
Jaskaran from Delhi provides a mixed supply of goods and services, including packages with chocolates, fruit juices, and toy balloons, totaling ₹6 lakh. GST is applicable on this transaction at the highest rate applicable to any item in the package, which is 18%. A penalty of ₹10,000 collected from Sukhija Gift Shop in March is also subject to GST, treated as inclusive of GST, and taxed at the original transaction rate. Giving 500 packages as free gifts to Delhi customers on Lohri is not considered a supply under GST law and is therefore exempt. Catering services provided free of cost to an independent brother for his business function in Delhi are also exempt from GST. Jaskaran arranging transportation for an old customer, Mr. Bahubali, without issuing a consignment note, is not considered a supply and is not taxable.
Case Study 12: GTA, Exemptions, RCM, and E-way Bills
Sudarshan Transport Agency (STL), a GTA in Jaipur, provides various transportation services. Transportation of agricultural produce for farmers in Rajasthan is exempt. Renting government buses to ABC Travels for student transportation is also exempt. Transportation of relief material to flood-affected areas via rail or vessel is exempt. When Money Money Bank sends its branch manager, Mr. Champak, on deputation to Bhopal, the GTA services provided to the bank are taxable under RCM, with the place of supply being Bhubaneswar, Orissa. Transporting defense equipment is exempt. Services provided to a newly constituted cooperative society in Rajasthan, not registered under GST, are taxable under forward charge at 12%. An e-way bill made on Monday at 12:04 for 220 km remains valid until Wednesday midnight. STL's petrol pump sales are non-taxable. The value of outward supply made by STL that attracts GST includes transportation services to farmers, government buses, relief material, defense equipment, and cooperative societies, totaling ₹35 lakh. The aggregate turnover of STL includes all taxable and exempt supplies, totaling ₹39.5 lakh. No TDS is required for the transportation of relief material as it is an exempt supply.
Case Study 13: Time of Supply and GST Liability
Harimukund Hardware, a partnership firm in Uttar Pradesh, supplies doors and windows fittings across India. The time of supply for goods sold to Charanjot Hardwares is October 10th, the date of removal of goods. For Rana Singh Ji Hardware, the time of supply is October 17th, the date of the invoice. For services supplied by Khatu Shasham Transporters (unregistered GTA), the time of supply is December 2nd, determined by the reverse charge mechanism (RCM). The gross GST liability for Harimukund Hardwares is calculated based on sales to Nand Kishore, Charanjot, Rana Singh, and Annapurai Hardwares, considering cash discounts for early payments, and applying the 18% GST rate. The total value of all supplies involved, including GTA services, is ₹1628100.
Case Study 14: Composition Scheme and Place of Supply
ABC Pvt Ltd, registered in Uttar Pradesh, manufactures laboratory products and provides repair and maintenance services. The services provided by Ram Enterprises (GTA) to ABC Pvt Ltd are taxable, with ABC discharging the tax liability under RCM. The place of supply for transactions between ABC, Abhijeet (Gujarat), and Akash (UP) is determined based on the movement of goods and the location of the parties involved. Services provided to Charitable and religious trusts are not outside the ambit of GST unless specifically exempt. ABC Private Limited could have opted for Composition Scheme Old Composition. The total GST liability is ₹13626. No TDS is deducted on exempt supply.
Case Study 15: E-way Bills and Unique Enrollment Number
GQF PVT LTD, registered in Maharashtra, manufactures goods for the automobile industry and sends inputs to job workers. An e-way bill is required for the transfer of goods to Yamuna Enterprises (Maharashtra) due to interstate supply. The company imports raw materials and stores them in a warehouse operated by Gajanan Enterprise in Tamil Nadu. Gajanan Enterprise is not required to take registration as Its aggregate does not blow the threshold limit. Speedofast Enterprises, a GTA registered in Maharashtra, Gujarat, and Kerala, transports GQF's finished goods. Speedofast Enterprises eligible for obtaining CEN. Speedofast Enterprises wants to Transport multiple consignments of GQF in a single conveyance.
Case Study 16: Transportation Services and TCS
Galgotia Travellers Ltd. provides AC passenger transportation services. The amount of blocked credit is nil. The GST Payable Through Electronic Cash Ledger is ₹ 58,000. The amount of TCS collected will be ₹ 65,000. The place of supply for CA435 is bore and PA 534 is Hyderabad. The time of supply is 3 July, 20 July, 23 July.
Case Study 17: Chartered Accountant's Income and GST Implications
Mr. A, a practicing chartered accountant, earns income from auditing and assurance. Services provided to Charitable and religious trusts are not outside the ambit of GST unless specifically exempt. The books will be available for 72 months. The aggregate turnover is ₹ 202.6. The total taxable turnover is ₹ 200. Which of the following transaction is R. How much interest will be charged on it?
Case Study 18: Composition Scheme and GST Liability
Dhara Limited is a Registered Supplier Under GST in Gujarat is exclusively Engage in Manufacture Textile Product. The Option to Pay Tax Under Composition scheme lapses from first of july. The net GST payable in cash is ₹ 176800. The ITC available is ₹ 282. The Amount of GST refund available is ₹ 31,000.
Case Study 19: Machine Sales and GST Implications
AVN Ltd. sells the machine to Daffodil. The place Supplier of Machinery Supplier by Event Limited is Haryana. The supply of Machine & Installation & Commissioning service.
Case Study 20: E-commerce Operations and GST
Started os and operate a web portal in the Name of star card. Assuming that Pulkit returns the Printer.
Case Study 21: GST Registration and Time Limit
Advanced trader is a partnership firm in jaipur Rajasthan. MS&WS shall be jointly in Severely liable. No Time Limit To issue the notice.
Case Study 22: Business Transfer and GST
William and sons inn The Partnership Firm is Registered in Rajasthan. MS&WS shall be jointly in Severely liable. No GST Transfer of business by going concern.
Case Study 23: Publishing House and GST
KLM Ltd. is a large publishing house and Printing House Register Under GST. Supply of Taxation Book is A. The direct answer of third is B.
Case Study 24: Cement Business and GST
Diwakar Kar is a person who is from Delhi. The place supply will come in the middle of Pakeeza Punjab and Gujarat.
Case Study 25: AC Sales and GST
There is one Jain God who sells AC brother. Charge tax at the rate of 18%.
