OnePoint Supply Private Limited, a registered entity under GST in the State of Maharashtra, is engaged in making various supplies. It provides the…

Computation of net GST payable in cash by OnePoint Supply Private Limited S. No. Particulars CGST (₹) SGST (₹) IGST (₹) 1. Output tax liability (Refer working note-1) 1,08,000 1,08,000 1,08,000 2. Less: Input Tax Credit (Refer working note -2) Nil Nil (85,500) 3. Net GST payable in cash through Electronic Cash Ledger on GSTN portal [A] 1,08,000 1,08,000 22,500 4. IGST payable on import of Bluetooth speakers payable in cash through ICEGATE portal while making customs clearance [B] Nil Nil 72,000 Working Note -1 Computation of output tax liability S. No. Particulars Amount (₹) CGST (₹) SGST (₹) IGST (₹) (i) Consignment of Power Drill Kits supplied at the instruction of a third person [Since it is a bill to ship to supply where the goods are delivered on the directions of a third person- M/s ToolMart, goods are deemed to be received by such third person and thus, the place of supply is Tamil Nadu, in terms of section 10(1)(b) of the IGST Act, 2017. Hence, it is an inter-State supply.] 6,00,000 1,08,000 [6,00,000 × 18%] (ii) Supplied silk yarn to SilkAura Creations [Intra-State supply since place of supply is the location as per the address of the said person recorded in the invoice issued in respect of the said supply, viz. Maharashtra, in terms of section 10(1)(ca) of IGST Act, 2017. Further, tax will be payable under forward charge since such silk yarn is being supplied to an unregistered person (Notification No. 4/2017 IT (R) dated 28.06.2017 as amended).] 4,00,000 36,000 [4,00,000 × 9%] 36,000 [4,00,000 × 9%] (iii) Free of cost training to agents [Services provided by the company to agents without consideration is not deemed as supply in terms of para 3 of Schedule - I since only goods supplied by principal to agent are covered therein. Further, such services are also not covered in para 2 of Schedule I as agents are not related persons.] (iv) Transfer of tenancy rights [Transfer of tenancy rights to a new tenant against consideration in the form of tenancy premium is taxable even though stamp duty and registration fee have been paid on the same 1 . It is an intra-State supply since place of supply is location of immovable property being Mumbai, Maharashtra.] 8,00,000 72,000 (8,00,000 x 9%) 72,000 (8,00,000 x 9%) Total output tax 1,08,000 1,08,000 1,08,000 1 Circular No. 44/18/2018 CT dated 02.05.2018 Working Note – 2 Computation of input tax credit available for set-off Particulars Amount (₹) CGST (₹) SGST (₹) IGST (₹) Import of Bluetooth speakers [Input tax, inter alia, includes IGST charged on import of goods.] 4,00,000 Nil Nil 72,000 [4,00,000 ×18%] Participation fee paid for the business exhibition held in Germany organised by Dhwani India Limited [Since services provided by an organiser to any person in respect of a business exhibition held outside India, no GST is payable on said services. Consequently, no ITC is available.] - - - Salary paid to employees on rolls [Services by an employee to the employer in the course of or in relation to his employment is not a supply in terms of para 1 of Schedule III and hence, no GST is payable thereon. Consequently, no ITC is available.] Consumables procured from suppliers in Gujarat [ITC on consumables, being inputs used in the course or furtherance of business, is available in terms of section 16(1). However, levy of GST on diesel has been deferred till such date as may be notified by the Government on recommendations of the GST Council in terms of section 9(2). Hence, there being no levy of GST on diesel, there cannot be any ITC; VAT & excise paid are not covered in the definition of input tax under section 2(62).] 75,000 [1,50,000 – 75,000] 13,500 [75,000× 18%] Total ITC available for set off Nil Nil 85,500