Sage-Tips

Can I claim GST on purchases before registration?

Section 21B of the GST Act allows a registered person to claim input tax deductions for goods or services acquired before registration. there was GST charged on the importation of the goods or services; or. the goods were acquired from an unregistered person (that is, a secondhand good input deduction).

Can I claim ITC before GST registration?

You cannot claim an ITC for the GST/HST paid or payable on services supplied to you before you became a registrant, or on the value of any rent, royalty, or similar payment that relates to a period before you became a registrant, even if you paid that GST/HST after you became a registrant.

Can I get GST number immediately?

Businesses which will provide Aadhaar number while applying for registration under the Goods and Services Tax will get the approval in three working days. The Central Board of Indirect Taxes and Customs (CBIC) last week notified Aadhaar authentication for GST registration with effect from August 21, 2020.

Can you claim GST on Trade Me purchases?

International purchases As required by NZ law, we’ll be collecting NZ GST of 15\% for all Trade Me purchases from any international seller to a New Zealand buyer. To get a GST receipt: Head to your ‘Won’ items, from My Trade Me.

Can I claim GST on a private vehicle purchase?

Can I claim the GST on a new car purchase? Generally speaking, you can claim GST on the purchase of a new motor vehicle if you meet the following criteria: you intend to use your purchase solely or partly in carrying on your business and the purchase does not relate to making input-taxed supplies.

When can we claim ITC under GST?

ITC can only be claimed for tax invoices and debit notes which are less than a year old. In any other case, the last date to claim ITC is the earlier of the following: Before filing valid GST returns for month of September following the end of the financial year applicable to that invoice.

Is GST applicable on purchase from unregistered dealer?

As per Sec 9(4) of CGST Act, if a registered person purchases goods/services from an unregistered dealer (URD) then the registered taxpayer is liable to pay GST on reverse charge basis( only for certain goods/services & registered persons). …

Can a registered person avail input tax credit under GST?

Even if, the input invoice has pertained to period prior to effective date of registration under the GST Law, a registered person should still be eligible to avail the input tax credit provided tha time period given under section 16 (4) has not been lapsed.

What happens if a person does not file GST returns?

If a registered person does not file GST returns or does not comply with the statutory provisions, s/he will lose his/her GST registration.

What to do if your GST registration has been canceled?

If the person, whose GST registration has been canceled by the proper officer for not filing GST returns, wants to continue his/her business, s/he will have to apply for a revocation of the cancelled GST registration.

What is ‘deficient’ GST registration under Rule 9?

If the conditions prescribed in Sections 29 (2) (b) and (c) are still valid, then the application for a fresh GST registration will be deemed as ‘deficient’ as per Rule 9 of the CGST Rules 2017, and the proper officer will reject the application on that basis.