Some important points to consider post GST

​Some points to be carefully considered post GST

We have never bothered to look into the expenses side of the profit and loss account with respect to earlier taxes. The time has come to make sure, all your payments above Rs. 5000 per day, are paid with GST. 

In other words, if you are dealing with unregistered suppliers and making payments above Rs. 5000, you have to pay GST under reverse charge mechanism (RCM).
Exceptions:

  • Salary and wages
  • Electricity
  • Interest
  • Car fuel
  • Government Fees

Inclusions:

  • Rent
  • Commission payments
  • Printing and stationery
  • Repairs and Maintenance
  • Office Maintenance
  • Vehicle maintenance
  • Computer maintenance
  • Legal Fees
  • Consultancy Fees
  • Professional Fees
  • Audit Fees
  • Labour charges
  • Frieght and transportation expenses
  • Gift expenses
  • Business promotion expenses
  • Advertisement etc..

🙏🌹 JAI MATA DI 🌹🙏
(Courtesy: CA Raghav Garg via WhatsApp).

09-Jul-2017 | 09:00 Hours IST | #CAVSM

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