Goods and Services Tax – Levy and collection of GST on Reverse charge Basis – Section 9(4) of the CGST ACT, 2017 as amended – Government enabled to notify a class of registered persons who would be li
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Goods and Services Tax – Scope of supply – Section 7 of the CGST ACT, 2017 as amended – supply of goods or supply of services as referred to in Schedule II will be taxable supply only if they constitute supply u/s 7(1) – TMI Updates – Highlights
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Goods and Services Tax – Meaning and scope of the term Services – Definitions. – Section 2(102) of the CGST ACT, 2017 as amended – Although ‘securities’ has been excluded from the definition of ‘goods
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Goods and Services Tax – Local Authority – Definitions. – Section 2(69) of the CGST ACT, 2017 as amended – Article 371J of the Constitution grants special status to 6 backward districts of Karnataka –
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Goods and Services Tax – Cost Accountant Definitions. – Section 2(35) of the CGST ACT, 2017 as amended – To correct an inadvertent typographical error. – TMI Updates – Highlights
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Goods and Services Tax – Business vertical – Definitions. – Section 2(18) of the CGST ACT, 2017, as amended – Clauses (18) omitted. – TMI Updates – Highlights
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Goods and Services Tax – Business – Definitions. – Section 2(17)(h) of the CGST ACT, 2017 as amended – to ensure that all activities related to a race club are included. – The term “services” (Now del
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Goods and Services Tax – Adjudicating authority – Definitions. – Section 2(4) of the CGST ACT, 2017 as amended – National AntiProfiteering Authority constituted by the Central Government under section
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Goods and Services Tax – Started By: – Ethirajan Parthasarathy – Dated:- 3-9-2018 Last Replied Date:- 4-9-2018 – A developer engages various contractors for putting up the Building.A percentage of contractor s Bill is kept as retention money which will be paid after long duration. Similarly some portion of Bill is not paid and kept as hold money for defective work which will be paid after defect is set rightBoth the above could be outstanding for more than 180 days. – Reply By DR.MARIAPPAN GOVI
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Goods and Services Tax – Started By: – Ethirajan Parthasarathy – Dated:- 3-9-2018 Last Replied Date:- 4-9-2018 – Section 16(4) Provides for Time Limit regarding Input tax set off. It is not clear to me whether the time limit Apllies for Input tax Availment or Input tax Credit – Reply By Praveen Nair – The Reply = As per Sec 16(4) of the CGST Act, A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains or furnishing of the relevant annual return, whichever i
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Imports by composition dealer – Goods and Services Tax – Started By: – nagendra v – Dated:- 3-9-2018 Last Replied Date:- 4-9-2018 – For Regular dealer IGST will pay under reverse charge and he will av
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Goods and Services Tax – Started By: – BINDLASDUPLUX LIMITED – Dated:- 3-9-2018 Last Replied Date:- 6-9-2018 – Dear Sir(s) A Trading company say Mr. X (deals in paper, paper machines etc.) purchased Kraft Paper (IGST @12%) from paper manufacturing company in India. Thereafter Mr. X sold the goods to Mr. Y (merchant exporter) under not. no. 41/2017 Integrated Tax (Rate) Dt. 23.10.2017 charging 0.10 % IGST. Now the merchant exporter Mr. Y export the goods out of India. My question here is that how Mr. X can claim the IGST which is unutilized. thanks CA Devkant Agarwal – Reply By DR.MARIAPPAN GOVINDARAJAN – The Reply = Whether the company is paying any other integrated tax? – Reply By BINDLASDUPLUX LIMITED – The Reply = Yes sirMr. X is dealin
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11.90%) under refund mechanism.The calculation for Inverted duty structure in system enabled in GST Portal.Regards – Reply By BINDLAS DUPLUX LIMITED – The Reply = thanks – Reply By Yash Jain – The Reply = Sir, But do ensure that you fulfill all the conditions as being laid for supply to merchant exporter.Refer the notification for merchandise trade. There are some of the following conditions1. Ensure that goods are exported in 90 days2. Shipping bill should mention ur name.3. You not being manufacturer will not get incentive/drawback4. Your AO should be give PO by merchant exporter.Many more conditions. Instead charge gst full @12%, and let merchant exporter take refund.Rgds – Reply By BINDLAS DUPLUX LIMITED – The Reply = ok sir, – Discussi
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Goods and Services Tax – Started By: – KULDEEPSINGH KHANGAROT – Dated:- 3-9-2018 Last Replied Date:- 4-9-2018 – Dear Sir, My one of client is a registered GTA , but even though it was registered we were raising Transport Services Invoices on Reverse charge , and on sale of old vehicles we were raising Invoices on forward charge.Now, from 01.09.2018, my client wants to raise all the Invoices on Forward charge basis and also , want to take credit of Inputs of the same. SO, can he opt from middle of year the option of migrating from RCM to FCM? – Reply By Praveen Nair – The Reply = If the GTA wants to pay GST then as per Notification No. 20/2017-Central Tax (Rate) 22nd August 2017, he can opt for: 12% GST with ITC 5% GST with No ITC Provided
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Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 3-9-2018 – Reverse Charge Section 2(24) of the Integrated Goods and Services Tax Act, 2017 ( Act for short) provides that words and expressions used and not defined in this Act but defined in the Central Goods and Services Tax Act, the Union Territory Goods and Services Tax Act and the Goods and Services Tax (Compensation to States) Act shall have the same meaning as assigned to them in those Acts. The expression reverse charge has not been defined in the Act. Therefore we may take the definition as contained in CGST Act, 2017. Section 2(98) of CGST Act defines the phrase reverse charge as the liability to pay tax by the recipient of supply of goods or services or both instead of the supplier of such goods or services or both under sub-section (3) or sub-section (4) of section 9, or under sub-section (3) or subsection (4) of section 5 of the Integrated Goods and Services Tax Act. Reverse charge on specified goods or se
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dated 13.10.2017, the Central Government exempted the inter-State supply of goods or services or both received by a registered person from any supplier, who is not registered, from the whole of the integrated tax leviable thereon under section 5(4) of the said Act. The said time line has been extended to by the Notifications as mentioned below- Vide Notification No.11/2018-IGST (Rate), dated 23.03.2018 the exemption was granted up to 30.06.2018; Vide Notification No. 13/2018-IGST (Rate), dated 29.06.2018 the exemption was further extended up to 30.09.2018; Vide Notification No. 23/2018-IGST (Rate), dated 06.08.2018, the exemption is further granted for a long term i.e., up to 30.09.2019. The Integrated Goods and Services Tax (Amendment) Act, 2018 substituted new section for section 5(4). The newly substituted section 5(4) provides that The Government may, on the recommendations of the Council, by notification, specify a class of registered persons who shall, in respect of supply of sp
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registered person 3. 2401 Tobacco leaves Agriculturist Any registered person 4. 5004 to 5006 Silk yarn Any person who manufactures silk yarn from raw silk or silk worm cocoons for supply of silk yarn Any registered person 4A. 5201 Raw cotton (with effect from 15.11.2017) Agriculturist Any registered person 5. – Supply of lottery. State Government, Union Territory or any local authority Lottery distributor or selling agent. Explanation.- For the purposes of this entry, lottery distributor or selling agent has the same meaning as assigned to it in clause (c) of Rule 2 of the Lotteries (Regulation) Rules, 2010, made under the provisions of sub section 1 of section 11 of the Lotteries (Regulations) Act, 1998 (17 of 1998). 6. Any Chapter Used vehicles, seized and confiscated goods, old and used goods, waste and scrap (with effect from 13.10.2017) Central Government, State Government, Union territory or a local authority Any registered person 7. Any Chapter Priority Sector Lending Certificat
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48);or (b) any society registered under the Societies Registration Act, 1860 (21 of 1860) or under any other law for the time being in force in any part of India; or (c) any co-operative society established by or under any law; or (d) any person registered under the Central Goods and Services Tax Act or the Integrated Goods and Services Tax Act or the State Goods and Services Tax Act or the Union Territory Goods and Services Tax Act; or (e) any body corporate established, by or under any law; or (f) any partnership firm whether registered or not under any law including association of persons; or (g) any casual taxable person. Goods Transport Agency (GTA) *[who has not paid integrated tax at the rate of 12%] * inserted with effect from 22.08.2017. (a) Any factory registered under or governed by the Factories Act, 1948(63 of 1948); or (b) any society registered under the Societies Registration Act, 1860 (21 of 1860) or under any other law for the time being in force in any part of India;
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4 Services supplied by an arbitral tribunal to a business entity. An arbitral tribunal. Any business entity located in the taxable territory. 5 Services provided by way of sponsorship to any body corporate or partnership firm. Any person Any body corporate or partnership firm located in the taxable territory. 6 Services supplied by the Central Government, State Government, Union territory or local authority to a business entity excluding, – (1) renting of immovable property, and (2) services specified below- (i) services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Central Government, State Government or Union territory or local authority; (ii) services in relation to an aircraft or a vessel, inside or outside the precincts of a port or an airport; (iii) transport of goods or passengers. Central Government, State Government, Union territory or local authority Any business entity located in the
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r a non-banking financial company. A recovery agent A banking company or a financial institution or a non-banking financial company, located in the taxable territory. 10 Services supplied by a person located in non- taxable territory by way of transportation of goods by a vessel from a place outside India up to the customs station of clearance in India. A person located in non-taxable territory Importer, as defined in clause (26) of section 2 of the Customs Act, 1962(52 of 1962), located in the taxable territory. 11 Supply of services by an author, music composer, photographer, artist or the like by way of transfer or permitting the use or enjoyment of a copyright covered under clause (a) of sub-section (1) of section 13 of the Copyright Act, 1957 relating to original literary, dramatic, musical or artistic works to a publisher, music company, producer or the like. Author or music composer, photographer, artist, or the like Publisher, music company, producer or the like, located in the
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sion of such service has been entered through another advocate or a firm of advocates, or by a firm of advocates, by way of legal services, to a business entity. Registration Section 20(v) of the Act provides that the provisions of CGST Act for registration will be applicable for IGST Act. Section 24 of CGST Act provides for compulsory registration under CGST Act. Section 24(iii) provides that the persons who are required to pay tax under reverse charge is compulsorily liable to register under CGST. The threshold exemption of ₹ 20 lakhs or ₹ 10 lakhs (to special category of States but the CGST (Amendment) Bill, proposes to increase this limit to ₹ 20 lakhs) is not applicable to the reverse charge mechanism. Composition scheme Section 20(ii) of the Act provides that the provisions of CGST for composite scheme shall be applied to IGST Act also. Accordingly the taxpayers paying tax on the basis of reverse charge under GST are not eligible for composition scheme. Time of
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the date of entry in the books of account of the recipient of supply. Time of supply of services Section 13(3) of CGST Act provides that In case of supplies in respect of which tax is paid or liable to be paid on reverse charge basis, the time of supply shall be the earlier of the following dates, namely:- the date of payment as entered in the books of account of the recipient or the date on which the payment is debited in his bank account, whichever is earlier; or the date immediately following 60 days from the date of issue of invoice or any other document, by whatever name called, in lieu thereof by the supplier. Where it is not possible to determine the time of supply as above, the time of supply shall be the date of entry in the books of account of the recipient of supply. In case of supply by associated enterprises, where the supplier of service is located outside India, the time of supply shall be the date of entry in the books of account of the recipient of supply or the date o
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Payment of tax Section 20(ix) of the Act provides that the provisions of CGST Act for payment of tax shall be applicable to IGST also. Payment of Tax under reverse charge mechanism shall be paid through Electronic Cash Ledger. Reverse Charge liability cannot be paid through Input Tax Credit. Section 31(3) (g) CGST Act provides that a registered person who is liable to pay tax under section 5(3) or 5(4) shall issue a payment voucher at the time of making payment to the supplier. The said payment voucher shall contain the details as specified in Rule 52 of CGST Rules, 2017. The payment of tax on reverse charge is to be paid on or before 20th of the succeeding month. The payment shall be made only in cash and not to be adjusted with the input tax credit. The reverse charge is payable on advance payment received by a registered person also. Input tax credit Section 20(iv) of the Act provides that the provisions of CGST Act and rules for the purpose of availing input tax credit are also app
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Goods and Services Tax – Started By: – nandankumar roy – Dated:- 3-9-2018 Last Replied Date:- 4-9-2018 – DEAR SIR, PL HELP REGARDING OUR NEPAL EXPORT UNDER LUT AND RECD AMT THRU RUPEES BUT IN GSTR1 RETURN WHERE TO SHOW IN ABSENCE OF SHIPPING BILL AND PORT CODE . WITH REGARDS, N K ROY 9427181604 – Reply By ANITA BHADRA – The Reply = Write your Bill of Export No. (which may be same as your Export Invoice No. )in place of shipping Bill No. – Reply By DR.MARIAPPAN GOVINDARAJAN – The Reply = It seem
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GST – States – 38/1/2017-Fin(R&C)(66) – Dated:- 3-9-2018 – GOVERNMENT OF GOA Department of Finance Revenue & Control Division ___ Notification 38/1/2017-Fin(R&C)(66) In exercise of the powers conferred by section 148 of the Goa Goods and Services Tax, 2017 (Goa Act 4 of 2017) (hereafter in this notification referred to as the said Act), the Government of Goa, on the recommendations of the Council, hereby notifies the registered persons having aggregate turnover of up to 1.5 crore rupees in the preceding financial year or the current financial year, as the class of registered persons who shall follow the special procedure as mentioned below for furnishing the details of outward supply of goods or services or both. 2. The said person
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GST – States – G.O. Ms. No. 111 – Dated:- 3-9-2018 – COMMERCIAL TAXES AND REGISTRATION (B1) DEPARTMENT G.O. Ms. No. 111 Dated: 03.09.2018 Aavani-18 Thiruvalluvar Aandu, 2049 NOTIFICATION The following erratum is issued to the Commercial Taxes and Registration Department Notification No.II(2)/CTR/519(a)/2018, published in Part II-Section 2 of the Tamil Nadu Government Gazette Extraordinary, dated the 11th June 2018:- ERRATUM In the said Notification, for "(ii) Thiru S. Vijay Kumar, Joint Co
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2018 (10) TMI 564 – MADRAS HIGH COURT – TMI – Monetary limit involved in appeal – on account of the monetary limits in these appeals, which are lesser than the threshold limit fixed by the Board's circular dated 11.7.2018, she seeks permission to withdraw the appeals – appeal dismissed as withdrawn. – Civil Miscellaneous Appeal Nos.1004 and 1005 of 2018 Dated:- 3-9-2018 – Mr. T. S. Sivagnanam And Mrs. V. Bhavani Subbaroyan JJ. For the Appellant : Mrs.Aparna Nandakumar, Senior Standing Counsel For the Respondent : Mr.Akhil Suresh COMMON JUDGMENT T. S. SIVAGNANAM, J. These appeals have been filed by the Revenue challenging the common order passed by the Customs, Excise and Service Tax Appellate Tribunal, South Zonal Bench, Chennai in Final
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the Hon'ble Supreme Court made it crystal clear that the liability commenced from 18.04.2006? (iii) Whether the Hon'ble CESTAT has erred in law in deleting the mandatory penalty imposable under Section 76, 77 & 78 of the Finance Act, 1994, when there was a deliberate omission and evasion of payment service tax, which was detected pursuant to investigation? (iv) Whether equal penalty is not imposable for deliberate evasion of payment of service tax when the same was invoked in Show Cause Notice in the remand cases? 3. The learned Standing Counsel for the appellant has placed before this Court a communication sent by the Deputy Commissioner (Legal), Office of the Commissioner of GST & Central Excise, Salem dated 17.08.2018, s
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GST – States – G.S.R.75/P.A.5/2017/S.164/Amd.(21)/2018 – Dated:- 3-9-2018 – GOVERNMENT OF PUNJAB DEPARTMENT OF EXCISE AND TAXATION (EXCISE AND TAXATION BRANCH-II) NOTIFICATION The 3rd September, 2018 No. G.S.R.75/P.A.5/2017/S.164/Amd.(21)/2018.- In exercise of the powers conferred by section 164 of the Punjab Goods and Services Tax Act, 2017 (Punjab Act No.5 of 2017), and all other powers enabling him in this behalf, the Governor of Punjab, is pleased to make the following rules further to amend the Punjab Goods and Services Tax Rules, 2017, namely:- RULES 1. (1) These rules may be called the Punjab Goods and Services Tax (Thirteenth Amendment) Rules, 2018. (2) They shall be deemed to have come into force on and with effect from the 13th September, 2018. 2. In the Punjab Goods and Services Tax Rules, 2017, after FORM GSTR-9A, the following shall be inserted, namely:- FORM GSTR-9C See rule 80(3) PART – A – Reconciliation Statement Pt. I Basic Details 1 Financial Year 2 GSTIN 3A Legal N
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dvances at the beginning of the Financial Year (-) J Credit notes accounted for in the audited Annual Financial Statement but are not permissible under GST (-) K Adjustments on account of supply of goods by SEZ units to DTA Units (-) L Turnover for the period under composition scheme (-) M Adjustments in turnover under section 15 and rules thereunder (+/-) N Adjustments in turnover due to foreign exchange fluctuations (+/-) O Adjustments in turnover due to reasons not listed above (+/-) P Annual turnover after adjustments as above < Auto > Q Turnover as declared in Annual Return (GSTR9) R Un-Reconciled turnover (Q – P) AT1 6 Reasons for Un – Reconciled difference in Annual Gross Turnover A B C Reason 1 << Text >> Reason 2 << Text >> Reason 3 << Text >> 7 Reconciliation of Taxable Turnover A Annual turnover after adjustments (from 5P above) <Auto> B Value of Exempted, Nil Rated, Non-GST supplies, No-Supply turnover C D E F Zero rated suppl
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reconciled payment of amount A B Reason 1 << Text >> Reason 2 << Text >> C Reason 3 << Text >> 11 Additional amount payable but not paid (due to reasons specified under Tables 6,8 and 10 above) To be paid through Cash Description Taxable Value Central tax State tax/UT tax Integrated tax Cess, if applicable 1 2 3 4 5 6 5% 12% 18% 28% 3% 0.25% 0.10% Interest Late Fee Penalty Others (please specify) Pt. IV Reconciliation of Input Tax Credit (ITC) 12 Reconciliation of Net Input Tax Credit (ITC) A ITC availed as per audited Annual Financial Statement for the State/ UT (For multi-GSTIN units under same PAN this should be derived from books of accounts) B ITC booked in earlier Financial Years claimed in current Financial Year (+) C ITC booked in current Financial Year to be claimed in subsequent Financial Years (-) D ITC availed as per audited financial statements or books of account < Auto > E ITC claimed in Annual Return (GSTR9) F Un-reconciled ITC
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ns for un-reconciled difference in ITC A Reason 1 << Text >> B C Reason 2 << Text >> Reason 3 << Text >> 16 Tax payable on un-reconciled difference in ITC (due to reasons specified in 13 and 15 above) Description Amount Payable Central Tax State/UT Tax Integrated Tax Cess Interest Penalty Pt.V Auditor's recommendation on additional Liability due to non-reconciliation To be paid through Cash Description Value Central tax State tax/UT tax Integrated tax Cess, if applicable 1 2 3 4 5 6 5% 12% 18% 28% 3% 0.25% 0.10% Input Tax Credit Interest Late Fee Penalty Any other amount paid for supplies not included in Annual Return (GSTR 9) Erroneous refund to be paid back Outstanding demands to be settled Other (Pl. specify) Verification: I hereby solemnly affirm and declare that the information given herein above is true and correct to the best of my knowledge and belief and nothing has been concealed there from. **(Signature and stamp/Seal of the Auditor) P
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follows :- Table No. Instructions 5A The turnover as per the audited Annual Financial Statement shall be declared here. There may be cases where multiple GSTINs (State-wise) registrations exist on the same PAN. This is common for persons / entities with presence over multiple States. Such persons / entities, will have to internally derive their GSTIN wise turnover and declare the same here. This shall include export turnover (if any). It may be noted that reference to audited Annual Financial Statement includes reference to books of accounts in case of persons / entities having presence over multiple States. 5B Unbilled revenue which was recorded in the books of accounts on the basis of accrual system of accounting in the last financial year and was carried forward to the current financial year shall be declared here. In other words, when GST is payable during the financial year on such revenue (which was recognized earlier), the value of such revenue shall be declared here. (For exam
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shall be declared here. 5G Turnover included in the audited Annual Financial Statement for April 2017 to June 2017 shall be declared here. 5H Unbilled revenue which was recorded in the books of accounts on the basis of accrual system of accounting during the current financial year but GST was not payable on such revenue in the same financial year shall be declared here. 5I Value of all advances for which GST has not been paid but the same has been recognized as revenue in the audited Annual Financial Statement shall be declared here. 5J Aggregate value of credit notes which have been accounted for in the audited Annual Financial Statement but were not admissible under Section 34 of the CGST Act shall be declared here. 5K Aggregate value of all goods supplied by SEZs to DTA units for which the DTA units have filed bill of entry shall be declared here. 5L There may be cases where registered persons might have opted out of the composition scheme during the current financial year. Their t
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eclared here. 5Q Annual turnover as declared in the Annual Return (GSTR 9) shall be declared here. This turnover may be derived from Sr. No. 5N, 10 and 11 of Annual Return (GSTR 9). 6 Reasons for non-reconciliation between the annual turnover declared in the audited Annual Financial Statement and turnover as declared in the Annual Return (GSTR 9) shall be specified here. 7 The table provides for reconciliation of taxable turnover from the audited annual turnover after adjustments with the taxable turnover declared in annual return (GSTR-9). 7A Annual turnover as derived in Table 5P above would be auto-populated here. 7B Value of exempted, nil rated, non-GST and no-supply turnover shall be declared here. This shall be reported net of credit notes, debit notes and amendments if any. 7C Value of zero rated supplies (including supplies to SEZs) on which tax is not paid shall be declared here. This shall be reported net of credit notes, debit notes and amendments if any. 7D Value of reverse
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ent and amount of tax paid as declared in Annual Return (GSTR 9). Under the head labelled RC , supplies where tax was paid on reverse charge basis by the recipient (i.e. the person for whom reconciliation statement has been prepared) shall be declared. 9P The total amount to be paid as per liability declared in Table 9A to 9O is auto populated here. 9Q The amount payable as declared in Table 9 of the Annual Return (GSTR-9) shall be declared here. It should also contain any differential tax paid on Table 10 or 11 of the Annual Return (GSTR-9). 10 Reasons for non-reconciliation between payable / liability declared in Table 9P above and the amount payable in Table 9Q shall be specified here. 11 Any amount which is payable due to reasons specified under Table 6, 8 and 10 above shall be declared here. 13. Part IV consists of reconciliation of Input Tax Credit (ITC). The instructions to fill Part IV are as under:- Table No. Instructions 12A ITC availed (after reversals) as per the audited An
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to the ITC ledger for the said financial year shall be declared here. 12D ITC availed as per audited Annual Financial Statement or books of accounts as derived from values declared in Table 12A, 12B and 12C above will be autopopulated here. 12E Net ITC available for utilization as declared in Table 7J of Annual Return (GSTR9) shall be declared here. 13 Reasons for non-reconciliation of ITC as per audited Annual Financial Statement or books of account (Table 12D) and the net ITC (Table12E) availed in the Annual Return (GSTR9) shall be specified here. 14 This table is for reconciliation of ITC declared in the Annual Return (GSTR9) against the expenses booked in the audited Annual Financial Statement or books of account. The various sub-heads specified under this table are general expenses in the audited Annual Financial Statement or books of account on which ITC may or may not be available. Further, this is only an indicative list of heads under which expenses are generally booked. Taxp
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be paid back to the Government shall also be declared in this table. Lastly, any other outstanding demands which is recommended to be settled by the auditor shall be declared in this Table. 15. Towards, the end of the reconciliation statement taxpayers shall be given an option to pay their taxes as recommended by the auditor. PART – B- CERTIFICATION I. Certification in cases where the reconciliation statement (FORM GSTR-9C) is drawn up by the person who had conducted the audit: * I/we have examined the- (a) balance sheet as on ……… (b) the *profit and loss account/income and expenditure account for the period beginning from ………..…to ending on ……., and (c) the cash flow statement for the period beginning from ……..…to ending on ………, -attached herewith, of M/s …………… (Name), …………………….…&hell
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ecessary for the purpose of the audit/ information and explanations which, to the best of *my/our knowledge and belief, were necessary for the purpose of the audit were not provided/partially provided to us. (B) In *my/our opinion, proper books of account *have/have not been kept by the registered person so far as appears from*my/ our examination of the books. (C) I/we certify that the balance sheet, the *profit and loss/income and expenditure account and the cash flow Statement are *in agreement/not in agreement with the books of account maintained at the Principal place of business at ……………………and ** ……………………additional place of business within the State. 4. The documents required to be furnished under section 35 (5) of the CGST Act and Reconciliation Statement required to be furnished under section 44(2) of the CGST Act is annexed herewith in Form No. GSTR-9C. 5. In *my/our
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llip; ……………………………………… ……………………………………… **(Signature and stamp/Seal of the Auditor) Place: …………… Name of the signatory ………………… Membership No……………… Date: …………… Full address ……………………… II. Certification in cases where the reconciliation statement (FORM GSTR-9C) is drawn up by a person other than the person who had conducted the audit of the accounts: *I/we report that the audit of the books of accounts and the financial statements of M/s.………………..…………………. (Name and address of the assessee wi
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loss account/income and expenditure account and balance sheet. 2. I/we report that the said registered person- *has maintained the books of accounts, records and documents as required by the IGST/CGST/<<>>GST Act, 2017 and the rules/notifications made/issued thereunder *has not maintained the following accounts/records/documents as required by the IGST/CGST/<<>>GST Act, 2017 and the rules/notifications made/issued thereunder: 1. 2. 3. 3. The documents required to be furnished under section 35 (5) of the CGST Act and Reconciliation Statement required to be furnished under section 44(2) of the CGST Act is annexed herewith in Form No.GSTR-9C. 4. In *my/our opinion and to the best of *my/our information and according to examination of books of account including other relevant documents and explanations given to *me/us, the particulars given in the said Form No.9C are true and correct subject to the following observations/qualifications, if any: (a) ……
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2018 (11) TMI 1220 – CESTAT CHENNAI – TMI – Business Auxiliary Services – appellants were receiving commission from the financial institutions – appellant have not obtained registration and not paid service tax – Held that:- The issue requires to be remanded to the adjudicating authority for the reason that the respondent has argued that the department has not looked into any other document except the document respondent has entered with ICICI Bank. All the documents on which the demand has been raised have to be looked into.
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Penalties – Held that:- The issue had travelled upto the Larger Bench of the Tribunal. Being an interpretational issue, the respondent has put forward reasonable cause to set aside the penalties and no penalty can be imposed on the respondent – penalty cannot be imposed.
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Appeal allowed by way of remand. – ST/CO/2 & 3/2012 and ST/537 and 538/2011 – Final Order Nos. 42350-42351/2018 – Dated:- 3-9-2018 – Ms. Sulekha Beevi C.S., Member (Judicial) And Shr
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stitutions. Department was of the view that the respondent has provided Business Auxiliary Service (BAS) as appellants were receiving commission from the financial institutions. Show cause notices were issued for the period October 2003 to September 2008 as well as for October 2008 to July 2009. After due process of law, the original authority confirmed the demand raised under BAS along with interest and imposed penalties. Against this, the respondent filed appeals before Commissioner (Appeals), who allowed the appeals holding that the said activity does not fall under BAS. Hence department is now before the Tribunal. 3. The ld. AR Shri S. Govindarajan supported the grounds filed in the appeal. He submitted that the respondents have tie-up with banks / financial institutions and customers who approach to buy consumer durables are able to avail loan from such banks / financial institutions. By this activity they were promoting the business of such financial institutions. The respondents
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CI bank and has not looked into any other document. Further, the service tax liability is required to be paid on receipt basis whereas the Order-in-Original seeks to confirm the demand based on accruals in the books of accounts of the respondent. Though this was pointed out and brought to the notice of the department, the same was not considered. That in some instances, the accruals were reversed as there was no hope of realizing the amount accrued. The department has not considered the plea of the respondents. He argued that the demand has to be restricted based on service charges received and not accrued. To support his contention, he relied on the decision of the tribunal in La Freightlift P. Ltd. Vs. Commissioner of Service Tax, Chennai – 009 (1) STR 513 (Tri. Chen.). The ld. counsel also argued to set aside the penalties. He submitted that the issue was interpretational one and that it had travelled upto the Larger Bench. In fact, the Commissioner (Appeals) had set aside the deman
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on which the demand has been raised have to be looked into. We are of the view that the respondent has to be given a chance to establish their case by furnishing further evidence if necessary. Another reason for remand is that the adjudication order seeks to confirm the demand on accrual basis whereas during the relevant period, service tax is required to be paid on receipt basis. This aspect also requires verification for quantification of the demand if any. In the event, we find that the issue requires to be remanded to the adjudicating authority for fresh consideration and for considering whether the issue laid down in Pagariya Auto Center (supra) applies to the facts of the case are not. 7. The ld. counsel for respondent has argued to set aside the penalties. As narrated above, it can be seen that the issue was contentious and there were conflicting decisions. The Commissioner (Appeals) had set aside the demand. The issue had travelled upto the Larger Bench of the Tribunal. Being a
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GST – States – G.O. Ms. No. 41 – Dated:- 3-9-2018 – GOVERNMENT OF PUDUCHERRY COMMERCIAL TAXES SECRETARIAT (G.O. Ms. No. 41, Puducherry, dated 3rd September 2018) NOTIFICATION In exercise of the powers conferred by section 148 of the Puducherry Goods and Services Tax Act, 2017 (Act No. 6 of 2017), the Lieutenant-Governor, Puducherry, hereby makes the following amendment in the notification of the Government of Puducherry, Commercial Taxes Secretariat issued vide G.O. Ms. No. 40, dated the 13th A
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Goods and Services Tax – Started By: – ROHIT GOEL – Dated:- 1-9-2018 Last Replied Date:- 3-9-2018 – That university registered u/s 12AA of Income Tax Act is receiving amount on account of sale of prospectus, practical books from staff and sale of uniform to staff members which is reflected as income in income and expenditure account. Whether GST is leviable on such amount as services provided by educational institution to its students or faculty is exempt ?? – Reply By ANITA BHADRA – The Reply = Education Services are classified in heading 9992 (as per Notification No. 11/2017-Central Tax (Rate)) and are further sub-divided into six groups (as per the Annexure to the same notification) comprising of Pre-primary, primary, secondary, higher,
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Goods and Services Tax – Started By: – ROHIT GOEL – Dated:- 1-9-2018 Last Replied Date:- 3-9-2018 – One of our client having educational instituition registered u/s 12AA has received charges as participation fees in university annual cultural programme from students of other colleges and other members who are neither student nor faculty/staff. Educational institution has presented such amount in income and expenditure account separately on income side. Whether GST is leviable on such amount or
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Goods and Services Tax – GST – Dated:- 1-9-2018 – The total gross GST revenue collected in the month of August, 2018 is ₹ 93,960 crore of which CGST is ₹ 15,303 crore, SGST is ₹ 21,154 crore, IGST is ₹ 49,876 crore (including ₹ 26,512 crore collected on imports) and Cess is ₹ 7,628 crore (including ₹ 849 crore collected on imports). The total number of GSTR 3B Returns filed for the month of July up to 31st August, 2018 is 67 lakh. This is slightly higher than 66 lakh returns of the month of June filed up to 31st July, 2018. The last date of filing return of July, 2018 in the State of Kerala was extended upto 5th October, 2018. The total revenue earned by Central Government and the State Governments
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while the notification of the reduced rate came into effect only from 27th July, 2018. Since it would have taken some time for the market to pass on the benefit of reduced taxes, consumers would have postponed their decision to buy expecting the benefit. The actual impact of reduction of rate of taxes would be observed only from next month onwards as the rate reduction would have got affected only in last few days of the month. Even past trend of indirect tax collection shows that while July collections are 8.2% of the total annual collections, August collections are at a lower level of 7.7% of the total annual collections. This is another reason for lower collections during the month of August as compared to that in July. – News – Press re
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Goods and Services Tax – Started By: – Praveen Nair – Dated:- 1-9-2018 Last Replied Date:- 5-9-2018 – Dear Experts,The goods are exported by paying IGST and refund was claimed against exports.Later the same material was rejected and then re-imported by paying IGST at the time of import, ITC credit has availed for the same.Query:a. Do we have to pay back IGST claimed as refund at the time of export? How to pay back?b. If the IGST is paid back, how do we claim back the IGST if the same goods is re-exported?Thank youPravin – Reply By ANITA BHADRA – The Reply = Notification No. 45/2017 – Customs; dt 30th June, 2017 covers different scenarios under which exports are made and applicable Customs Duty Payable upon Re-import of such goods. Goods ex
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