Home > Questions > GST > What will be the status in respect of taxation of above commodities after introduction of GST?
- Banks pay provisional VAT currently at the time of delivery of gold on the basis of ongoing market prices. When customer fixes the price of metal, Banks pay actual VAT on the maturity date of the Gold Loan. Banks must be allowed to set-off the excess provisional GST paid to the government against future fixation of prices. In case of excess payment, the same should be refunded on Pan – India basis and not on the basis of States. asked by TANI AGARWAL, 18 hours ago
- Banks lend gold in physical form for a period not exceeding 6 months. Banks receive interest on the gold ounces disbursed and the same is converted into Rupees after calculation of interest on the ounces and the USD/INR conversion. Will the same methodology continue in case of GST as well wherein Banks shall pay a provisional GST (i.e. IGST/SGST/CGST) on ongoing market prices and pay the final GST as and when the prices are fixed? asked by AayushPareek, 18 hours ago
- Gold and silver imported by banks/nominated agencies on consignment basis are lying in stock as on 1st July. Clarification is required on how to charge the customers in transition phase from VAT to GST. Will customers be liable to pay GST rates? asked by TANI AGARWAL, 18 hours ago
- What information can be modified and cannot be modified by a taxpayer in an invoice in GSTR-6? asked by RyanJain, 18 hours ago
- Can I preview the Form GSTR-6 before submitting? asked by AayushPareek, 18 hours ago
- Whether an Input Service Distributer (ISD) will be eligible to distribute the ITC in respect of services received during April 17 to June 17 even if the invoices are raised and submitted by contractors after appointed date i.e. in July 17.
- Whether, any Indian providing services to PayPal on contract basis is required to pay reverse charges on charges deducted by PayPal?
- How a particular transaction of goods and services would be taxed simultaneously under Central GST (CGST) and State GST (SGST)?
- Will GSTN provide separate user ID and password for Tax Professional to enable them to work on behalf of their customers (Taxpayers) without requiring user ID and password of taxpayers, as happens today?
- From where can I file GSTR-5A?