GST Concept Guide - Beginners Part 7

🎬 71. GST Audit Limit
Q: Who needs a GST Audit?
A: If your turnover exceeds ₹5 crore in a financial year, you must file GSTR-9C — a reconciliation statement.

Q: Do I need a CA for that?
A: Yes — GSTR-9C must be certified by a Chartered Accountant or Cost Accountant.

Q: Is GSTR-9 also mandatory?
A: Yes, for most taxpayers above ₹2 crore turnover.

🎬 72. GST on Rent
Q: Is Rent taxable under GST?
A: Yes — if you rent out commercial property, GST applies at 18%.

Q: What about residential property?
A: Renting for residential purposes is exempt — unless rented to a business entity.

Q: Reverse charge on rent?
A: Yes — if a business rents from an unregistered landlord.

🎬 73. GST on Capital Goods
Q: What are Capital Goods under GST?
A: Goods used in your business over time — like machinery or equipment.

Q: Can I claim ITC?
A: Yes — but not if used for personal use or exempt supplies.

Q: What if I sell them later?
A: You must pay GST on sale value or ITC reversed, whichever is higher.

🎬 74. Supply to SEZ
Q: How is supply to SEZ units taxed?
A: It’s zero-rated — you can supply without GST and claim ITC refund.

Q: Any document required?
A: Yes — Letter of Undertaking (LUT) or pay IGST and claim refund.

Q: Is invoice format different?
A: No, but must mention “Supply to SEZ – Zero Rated.”

🎬 75. GST on Food Delivery
Q: Is GST applicable on food delivery?
A: Yes — food delivery apps like Zomato and Swiggy now collect GST at 5%.

Q: Who pays GST — restaurant or app?
A: The app collects and pays GST to the government.

Q: Can the restaurant still charge GST?
A: No — they bill the app, not the end customer.

🎬 76. GST on Online Courses
Q: Are online education courses taxable under GST?
A: Yes — most are taxed at 18% if not exempted as recognized education.

Q: What if it’s live training?
A: Still taxable — unless it’s a degree/diploma by an institution.

Q: Can I claim ITC on online course creation tools?
A: Yes — if used for business.

🎬 77. GST Composition Return
Q: What return does a composition dealer file?
A: Form CMP-08 quarterly and GSTR-4 annually.

Q: Do they collect GST?
A: No — they pay tax out of pocket and can’t issue tax invoices.

Q: Can they claim ITC?
A: No — that’s the trade-off for simpler compliance.

🎬 78. GST for Export of Services
Q: Is export of services under GST taxable?
A: It’s zero-rated — no GST is charged, but you must file LUT and claim ITC refund.

Q: Any condition?
A: Yes — the payment must be received in foreign currency.

Q: Do I still need GST registration?
A: Yes — to claim ITC and file returns.

🎬 79. ITC on Mobile Phones
Q: Can I claim ITC on mobile phones under GST?
A: Yes — if it’s used for business purposes.

Q: What if I use it for both personal and business?
A: Proportionate ITC is allowed, but documentation helps.

Q: Any special invoice needed?
A: Must be a tax invoice with GSTIN.

🎬 80. GST on Freelance Foreign Income
Q: Do freelancers pay GST on foreign income?
A: Export of services is zero-rated — no GST on invoices.

Q: Still need to file returns?
A: Yes — including GSTR-1 and 3B, and possibly LUT for exports.

Q: Can I claim ITC?
A: Yes — refund of ITC is available.

The primary objective of this video is to educate viewers and keep them informed about the evolving tax laws. It aims not just to present information, but also to facilitate comprehension and promote ongoing learning in the realm of taxation.

*Disclaimer:*
The content of this video is intended solely for educational purposes. Any decisions regarding taxes should be made only after consulting with a qualified legal or professional advisor to ensure compliance and understanding of individual circumstances.

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