GST Sectoral_Miscellaneous
1:  When would advance ruling applications submission begin?

The Government is in the process of constituting the Authority. It would be notified soon.

2:  "When are the recommendations of the sector wise task force expected to be submitted to the GST Council. Can representations still be made to the sectoral task force ? "

Representation can be submitted to the sectoral working groups.

3:  How will I know whatever GST I pay is really paid to government by various makers/sellers and not pocketed by the seller?

Person, selling to you, would have purchased his products/inputs from some supplier. That supplier while filing his outward supply details (GSTR1) will quote the GSTIN of the your seller. And he will have to accept the same in his GSTR2.Therfore the system captures the data of your seller. Action can be subsequently taken in case of evasion of tax.

4:  Is stock transfer possible without paying GST in case of takeover of a Partnership firm by a Private Limited Company.

One has to see the conditions given in entry 4 of Schedule II of the CGST Act, 2017. If it is a supply as per this entry, it is taxable.

5:  Is brokerage earned in stock broking service liable to Goods and Services Tax?

Yes,Since the stock brokers are engaged in the business of supplying the stock broking service, appropriate GST is payable on the same.

6:  Whether commission paid to insurance agents shall be construed as supplies received under Section 9(3) of CGST Act, 2017? If yes, whether the Life Insurance Company can raise a consolidated invoice for such commission payments?

Sr. No. 7 of notification No. 13/2017-Central Tax (Rate), dated 28th June, 2017 as amended covers supplies received from Insurance Agents and provides for the Insurance Company to pay GST on such supplies under Section 9(3) of the CGST Act, 2017. In such cases, the insurance company may issue agent-wise consolidated invoice at the end of the month for the supply of services received during the month.

7:  Whether insurance policies issued to Non-Resident Indians, where the premium is paid through the NonResident External Bank account, will be ‘export of services’? Would the insurance premiums be taxable in cases where the same is not received in convertible foreign exchange or from the NRE Accounts?

No,The amounts paid from the Non-Resident External Accounts are paid in Indian Rupees and are not received in convertible foreign exchange. Therefore, the conditions for export of services as provided under section 2(6) of IGST Act, 2017 are not satisfied. Life Insurance services in such cases would be treated as inter-State supplies and subject to GST.