Income & Expenses

NO GST / NIL GST or EXEMPTED

SR No.	Nature of Expenses	GST Rate	GST IMPACT / OTHER REMARKS
	NO GST / NIL GST or EXEMPTED
1	Electricity Charges	0%	Out of GST
2	Water Charges	0%	Out of GST
3	Bank Interest	0%	Existing rule – No ITC
4	Professional Tax	0%	Tax levies by local body / other association out of GST
5	License renewal like Pollution, Factories & Boilers & Local Bodies	0%	Tax levies by local body / other association out of GST
6	Biulding Tax	0%	Tax levies by local body / other association out of GST
7	Provision for Ageing Stock	0%	Follow the GST rule – for time of supply
8	Rent Deposits	0%	If adjust with rent – GST applicable
9	Other Deposits	0%	If adjust with other expenses – GST applicable
10	Sales Promotion – Petrol Others	0%	Petrol & Diesel out of GST
11	Sales Promotion – Petrol Delivery	0%	Petrol & Diesel out of GST
12	PETROL CARD – BPCL	0%	Petrol & Diesel out of GST
13	PDI Expenses Petrol	0%	Petrol & Diesel out of GST
14	Petrol Expense	0%	Petrol & Diesel out of GST
15	Salary	0%	Employee services & benefits – to employers exempted
16	Work Charges – Employees	0%	Employee services & benefits – to employers exempted
17	Registration Fees	0%	If only a pure agent service – ensure GL balance Nil
18	RTO Expenses	0%	If only a pure agent service – ensure GL balance Nil
19	Allowance & incentive to employees	0%	Exployee service without any margin
20	Bad and Doubtful Debts	0%	If there is no supply element & no consideration
21	Bad Debts Written Off	0%	If there is no supply element & no consideration
22	Warranty Labour Charges	0%	If there is no supply element & no consideration
23	Provision for Doubtful Debt Written Back	0%	If there is no supply element & no consideration
24	Donation	0%	If there is no supply element & no consideration
25	AUTO CARD POINTS AWARD	0%	If there is no supply element & no consideration
26	LWF Contribution	0%	Govt levy
27	Staff Medical Expenses	0%	Exployee service without any margin
28	Fine & Penalities	0%	Govt levy
29	Discounts – shown in bill	0%	GST applicable is after all discount – if shown in the bill
30	Staff Amenities	0%
31	Staff Mediclaim Contribution	0%

Expneses On Which GST Applicable But No Input Tax Credit will Be Received

1	Food Expense	12/ 18 or 28%
2	Travel claims – Radio Taxi / Ola	5%
3	Transportation Charges – GTA	5%
4	Club & Membership fees	18%
5	Work Contract Tax – Construction of Building	12%

GST Applicable / RCM supply of URD

Sr No.	Nature of Expenses	GST Rate	GST IMPACT / OTHER REMARKS
1	Advertisement Charges / hoarding	18%
2	Advetisement in Magazine, News Papers etc	18%
3	Advetisement in Media	18%
4	All Discounts – after supply	GST Impact	Difference GST Rate as per Original Invoice
5	AMC Charges	18%
6	Bank Charges – Service charges recovered	18%
7	Brocker Fee & Charges	18%
8	Call Centre Expense	18%
9	Constomer Schemes by MSIL	18%
10	Construction Work	12%	GST amount – no ITC – for immovable property (Building)
11	Consumables Paint material & Other Consumables	28%
12	Customer meet expense	18%	Food charges – No ITC
13	DMS Charges	18%
14	Driver Contract Expense	18%
15	Enrolment Charges from MSIL	18%
16	Extended Warranty Cancellation Charges	18%
17	Free Gifts, Gold Coin	18%
18	Free Service Camp Expense	18%	If any third party bills comes
19	House Keeping Charges	18%
20	INSURANCE AMOUNT	18%
21	Insurance Charges	18%
22	Interest Debit MSIL	18%
23	Interest Debited by MSIL	18%
24	Interest on Service Tax/ TDS	18%
25	Interest on Vehicle Loan	18%
26	Interest Others	18%
27	Legal charges to advocate	18%	Advocate raise bill without GST component – RCM to us
28	Loading & unloading	18%
29	Local Conveyance	5% / 12%
30	MCP Package (Labour & Spare) From MSIL	18% / 28%
31	Mediclaim Policy Premium Contribution A/ c	18%
32	Mobile Allowance	18%	Pure Agent Service / If margin then GST applicable
33	Other Training Expense	18%
34	Outside works – Allied / Painting / Tinkering / Tyre Puncture / Washing / Wheel Alignment etc	18%
35	PDI Expenses	18%
36	Pool Lifting Charges	18%
37	Popular Kuttukaran Cars Ltd	18%
38	Postage and Courier Charges	18%
39	Printing & Stationery(Flex Printing, Broad Printing, Notice Printing)	18%
40	Rates and Taxes	Actuals
41	Recruitment Expenses	18%
42	Reference amount given to Outside party	18%
43	Registration Fees	18% or 28%	GST applicable only if extra margin taken by us
44	Rent Paid	18%
45	Rent Paid for Mess (Employees)	18%
46	Repair and Maintenance – Building / Electrical / P&M / Others	18%
47	Room Rent	12% / 18% & 28%
48	RTO Expenses	18% or 28%	GST applicable only if extra margin taken by us
49	Sales Promotion – Others / SSI / Display / Events	18%
50	Sponsorship services	18%	Reverse Charge to Service Receiver – ITC can avail
51	Security Charges	18%
52	Staff Recruitment	18%
53	Staff Training Expenses	18%
54	Staff Uniform Expenses	0%	If a third party bill comes
55	Stationery Items from MSIL(Interstate)	18%
56	Subscription & periodicals	18%
57	Telephone Charges	18%
58	Towing Charges	18%
59	Traing Expense of Out source party	18%
60	Training Expense of MSIL (Inside Kerala)	18%
61	Training Expense of MSIL (Outside Kerala)	18%
62	Transportation Charges – Non GTA / Trucks	18%	If GTA services – RCM @ 5% & no ITC
63	Travelling Expenses Interstate	12% / 18%	Services from Tour operators / Agencies
64	Travelling Expenses International	28%
65	Vehicle Maintenance (repair & maintenance)	18%	Self bill no GST / Other third party bills GST applicable

Note : All services / procurement dealing with unregistered parties – we may have to pay GST under RCM & take input tax credit in subsequent month.