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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.

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