Food for thought:- Analyse Section 7 of the CGST Act, 2017 properly and then tell me if GST implications will be there if I sell the furniture of my business for a consideration, 7 years after its purchase. Happy learning ♥

We generaly sell mobile phone and other electronic in cash after using for some times so theres no way govt gonna know about it , your video is theoriticaly correct but practically we will save every bit of tax on prduct .

That thumbnail 😂😂 aunty in iphone 😂😂

Sir...Sec 7(1)(a) specifies that any activity for consideration in course or furtherance of business is Supply. Further business includes acquisition or supply of goods including capital goods. Hence, to conclude, sale of furniture is a supply and attarcts GST

It's almost impossible for dept to know whether the phone is sold or still in use. Can only be caught if dept wants to physically verify 2-3 years down the line which is very unlikely to happen. Hoga bhi toh 1% log ke sath

Being an engineering student its really helpful for people like me to get knowledge in this sector as well, Very well explained, Thank you 👌

Thank you Sir for adding subtitles. Now I can fully understand what you says.

0:51 bahot hi badhiya bahot acha laga sun kei, saare consultancy fees aaj hi clear karwa dijiyega😝😝 1:08 CA EXPRESSION- HA BETE AB AAYE NA LINE PEI 😏😏

Sir does gst input applied on cars too?? if yes pls elaborate through another video

even a non commerce background student would have loved the vdo....great info sir....Thanks !!

Practically speaking , how will the dept know that I’ve sold the phone if I sell it for cash in local market?

I have a question sir ? what will happen when capital goods is damaged and you are not using it?

Can we clam gst of new mobile phone if my old phone dead under 5 years?

sir govt. ko kse pata chlega ki humne assets sell kr di , hum non gst holder ko sell kr dege , or mobile phone ko 2 years use kr ke de dege kisi ko , isme kaya problem hogi

Thank you sir, I’m a businessman, and I like accounting a lot and video helped me a in understanding gst input. I have searched alot for this topic and got the perfect answer by you. Subscribed. Thank you, have a nice day!

sirji lekin mere ek frnd unke ek dusre frnd ke naam pe bill liya toh unko us frnd ne pura gst wapas diya hai? iske bare me aapka kya kehna hai?

Sir on computers and laptops the depreciation is 40% pa. In this case how does the calculation of GST and ITC work ?

Dear SIR, #RESPECT... please keep on posting these kind of videos, Aiding in understanding the subject we read, practically... Thank you so very much...

Some people buy things without invoice at a cheaper rate where they don't pay gst. Can you please explain the implications for both the buyer and seller on what happens afterwards?

how does the government know that i have selled the asset ..e g if i sell my phone to one of my friend within 5 years how does the government will know it ???? plz answer anyone

Hi Sir very informative video, i just have a small query can i use any credit cards of my cousin while ordering capital goods to avail itc. Or transaction should be from my account only

never seen someone having so much knowledge in his field as you are 💯💯😅😅😅😅

your editor deserves some raise

I’ve a question can we legally Claim gst even if we use the capital good (phone laptop etc) for official use? If yes how to make sure we are not debited again during gst audit !

Sir agar mai apnai GST no pe koi product purchase karta hu online Flipkart se as GST invoice Kya mai yeh product bheech sakta hou apni gst invoice pe .. Iam confused bcz gst invoce pe likha hai product is not for reselling only for end user .plz reply

You a real Content Creator out there in this youtube community!!!!Keep making such practical videos,Sir❤️ Respect💯

Sir is always bringing useful information from trending topics ie. iPhone 13 😆 amazing blend of teaching with updated information and creative content

I already knew it. You've covered this thing very well in the revision marathon.

Sir,agar koi phone purchase kiya and ITC claim kiya and usse 2years he use kiya but sale nahi kiya toh kuch investigation hogi kya?

The GST is kind of useless, as it doesnt let you take the credit for many such cases. For example, you buy a luxury car and pay 28% tax and you are not allowed to take the credit. Kind of stupid. Anyways, makes sense why so many Indians are leaving this country. BTW, new video idea for you - GST ITC SAVINGS WHY NOT POSSIBLE ON SUPERBIKE OR SUPERCAR

I have a few doubts could you please clarify... Let's assume I have 2 friends and one of them has business account.. now the other friend bought an iPhone for personal use from the business account of the friend.. he got itc and the friend got discount.. in this following scenario I have the following questions 1) who will be liable for tax if the person sold the iphone in 2 years, the business account owner or the person who sold it.. 2) if the person is caught and the IT gets to know that it was not for business use but for personal use of his friend and says that the friend was his former employee and the phone was given to him then, will gst still be levied... 3) if the person shows 20k itc however has less otc , what will happen... I am not from CA background (I'm an Engineer ) so sorry if any of the above questions are basic.. I like how you explain stuff about gst and taxing..

Hello sir, ek client hai jo pichle saal k invoices claim kar raha hai. Par mujhe pata nai ki ITC usne pehle already claim Kiya ya nahi. Agar wo dobara same invoice claim kar raha hai to, us k bare mein kaise pata chalega. Kya Port al of gst mein, claiming date of particular invoice pata lag sakti hai kya?

Is the ITC still claimable for such capital goods if the purchase is made from a state other than the company is actually registered in?

*i cleared my ca intermediate because of your marathon sir, you are a true gem* Do make a video on this topic, everyone of us want to know, how your communication skills are so brushed up whenever you speak it feels like to go on listening to you, do share the secret with us and along with our articleship,classes and studies how to improve our soft skills?

Sir but what if businessman Sells the Goods in Cash before the CGST timeline of 5 Years..

Sir mein toh individual hu nil GST file karta hu toh kya mujhe bhi ITC ayega aur kya woh mera bank account mein transfer hoga?

Sir, what if, if capital goods purchased in earlier tax regime & not claimed ITC and now selling in GST?

Sir, How can a specific sale of asset be traced back to the origin? The law has covered the loophole impressively but there is still huge scope of non- detection. Thoughts?

suppose i have gstin number but this year i don't have any tax to pay....so will i get that gst benefit for next year?

Sir kya main refrigerator or koi bhi large appliances le skta hu because inhe to main 5 saal se jyada use karunga to phir kyaa main tax bacha paunga

Brilliant explanation! I went through 100s of videos trying to understand this but nobody explained it as comprehensively as you did. Thank you Sir!

Wow! Great video! You are a true inspiration to students like me! I wanted to ask you this... Sir, are you ambidextrous? I have seen you writing in both right and left hands!

Hello sir... i buy laptops and mobile any gst... One year later any item loss and kharab ho jana... To kai kare?

What if instead of selling it I pass it on to any family member and I purchase a new one with same ITC deducted?

But the example of phone is really difficult to prove as the department is not gonna keep tab when I am gonna sell my phone. Even Nowdays most people instead of selling it exchange the phone so quite difficult for the department to find about it. But as always quite informative video.

Thank you. Being a young Dr I didn't have much knowledge about taxation and money. But your videos are easy to comprehend and practically applicable.

And maine becha ya nahi kisi ko kaise pta chalega? Suppose i sell it to my friend after 3 years bill ka matlab nahi hoga kyunki warranty over

What if I am buying laptop for educational purpose on my fathers gst invoice , then is it safe??

Hi Sir, My CA says that its unethical to get GST input on the Mobile device as you can not make sure that it is purely used for business purposes. If you take the GST input one day govt will issue a notice. How true is that?

Sir how would department even get slightest of idea regarding the sale of product purchased on which ITC was availed. Usually isn't cash is the most sorted method for transferring of 2nd hand goods? When we purchase any electronic equipment, it's usually sold as scrap in cash unless it's an exchange offer. Is my contention correct?

Agar mere pass mera apna gst nmbr lekin maine cashback k liye apne dost ka credit card use kiya hai ,, to kya main gst claim kr sakta hoon ???

Sir if I am using my father firm gst no. And paying using my credit card...will I be able to get input tax credit ?

I am using indian iphone /laptop for buiseness without gst sometimes ,can I still claim in ITR expenses?

Me jis mobile se Ye video dekh rha hu wo 6 saal pehle papa ne dilaya tha CMA foundation pass karne par , aur yha log 118559 rs. Ka phone 2 saal me hi bech dete hai 🤣🤣

Sir, what if the capital asset got damaged or discarded (not sold or transferred) before the expiry of 5 years???

what is the capital good got stolen or broken in 5tp6month or in short time span? how this will affect then?

Nicely explained sir, it was very simple to understand... I recently purchased Graphics cards and a phone so this was helpful to understand the process. I haven't sold any of my previous phone(kept as a collection) so that wont be an issue :)

I am in foundation! & So excited to learn all this mind blowing concept!! ❣️

mne apni firm ke name se liya h iphone lekin m books of accounts maintain nhi krta hu...but nil ki gst return file krta hu to kya m ITC AVAIL KR SKTA HU?

Sir mene oneplus 10 pro 5g liya usme un logo ka offer tha ki 28% gst claim kar sakte hai... Is case me agar me 1 saal baad phone bech deta hu to kya gst mujhe deni padegi us amount pe jisape me bech raha hu phone.?

Sir govt ko pata kaise chalega ki maine phone sell kr di and time of sale?

Sir you are a true inspiration to students. Could you please tell if you'll conduct physical classes for 2022 batches and if yes then where ?

Sir gov ko ye kaise pata chalega ki maine 2 year main hi goods ko sale ker diya hai please answer zaror dejiyega

Agar humne baad me exchange kar diya flipkart se jo k invoice bhi nhi dekhta toh ?

Question of the day :why you have deleted your recently uploaded tax saving video on shares ? Was it incorrect ? If yes then pls tell the problem in that thing

Please help me out here: What if someone doesn't sell the product? He still ends up saving the entire GST amount? Which is a whooping 18% on iPhones Also, What if he sells on OLX or somewhere like that for cash handouts? Isn't this too easy for almost anybody with GST number to exploit this?

Sir mai student hu flipkart per gst offer lagakar apna personal laptop buy kar sakta hu

Can we claim input tax credit on mobile phone purchase by credit card in business partner's name?

Sir America se jaake le aayenge 81000 ka mil jaayega iphone 13 pro max😂😂

Sir what if I show the same as business and promotion expenditure instead of capitalised the same? In such case one gets benefits of itc 😎

Can we claim depreciation too after availing ITC on mobile purchase?

Sir what will happen on goods like car when sold if it is used for business...since at time of purchase ITC was blocked

Sir is it necessary to show that ki wo mobile phone hamne sale kar dia hai... Most probably second hand phones off paper hi sale hote... Then waha pe to save ho jaega na?

Sir itne sweet hai, yeh gussa kaise krte honge 😁😂 even gaali bhi bolte honge toh kitne sweet karike se bolte honge 😂😂

What about exchange of device? In Amazon or Flipkart, you can exchange your old phone and get a discount, so does that get accounted? I personally think goverment can't k ow if we exchange our phone in a new discount offer or even if we stop using it.

In case if i didn't sell the product then the total gst is saved ?

Sir, this same concept I have handled in my articleship period. My CA sir explained this to the owner of a winding up company. After listening & also getting the workings done on ITC reversal, it arrived @ paying lakhs together, so he said OK & went away. But, some other so called professional CA; mind washed that owner & promised to retain some of the ITC back in the account & filed successfully. I believe department will definitely know what had happened & come to the conclusion some or the other day.

Just one correction sir (Please forgive me), The reversal will be based on Quarterly basis, and not yearly basis (5% per quarter or part thereof will be allowed to be retained. Remaining will be reversed).

Sir can you please tell me how much actual GST return we get on mobile phones? Please someone tell me this....

sir can i get itc on mobile phone which is paid by credit card installment

Sir jaise apne video mai btaya ke gst itc kar sakte hai…. Agar sir humne mobile ko 2 saal tak use kiya then after humne mobile sell kar diya cash transaction se toh bhi hume remaining 3 saal ki gst input ko cost mai add karna rahega? Or agar humne cash transaction se sell kiya toh IT ko toh pata hi nahi chalega na…

Sir can you please clear how much depreciation we can claim on Smartphones? And can we claim both ITC and Depreciate at the same time? Thank you in advance

Do we need to buy the product from the business bank account or can we do it from any credit card and still claim the benefits (Sole proprietorship)

Hi, thank you. I have a query. I am a sole proprietor and i need to buy laptop. DO i need to pay from my GST registered current account or can i pay from my personal account also and claim input tax credit. Also, if i have insufficient balance in my current account, can i add amount into it and not show as sales income? in that case, under what head do i need to show that transaction/amount? Anyone, please help.

Amazing thumbnail sir 😂

Sir practically when i ll sale the iphone, i wont show in the books itsef, bcoz either i ll take cash or exchange my existing phone with new phone, again on which i ll claim gst paid as itc on new phone.. To sir poora gst claim ho gya.. Theoretically what u are saying is valid, but practically it wont happen this way ever…😀😀

If we make some changes in office design etc can we claim GST on purchasing products like lighting furniture??

I have a stone crusher business where I sell crushed stones.Can i get gst input on computers or other goods that I use in my office ?

at 7:05 - awesom punch line 😂👊

sir, but IT Dept ko kaise pata chalega ki humne wo mobile phone 2 saal me hi bech diya ?

but what about 5yr later?? please answer this if i used my phone 5.5yrs then what??

Sir i want to know i sell iPhone atfer 4 months to my friend....then how govt will get to know that what would happened to that goods ....?

If I dnt hve any GST Liability but I bought an iPhone ,will I get the GST refund or will it be nullied or rolled over to next years and get adjusted only if I have any GST to be paid ?

Sir which application are you using as whiteboard ?

Sir phone ki itc bank account me aayegi ya , isko set off karna padega?

Sir agar dissolution hora hai firm ka bich mein Tobhi return karna hoga?

What if the mobile on which we claimed ITC goes dead in 2 years and give that in exchange to buy a new one.

Sir what if we sell the asset in cash! No invoice issued, no record of sale of such transaction as we have shown it as capital expense.

If I am not selling my product so it will be written off after 5 years automatically?

How to calculate the same cost for educational courses? for e.g 18% gst is paid over 1 lac, will that value be adjusted against ITC