Author: admin_gst

Goods and Services Tax – Scheme of Classification of Services S.No. Chapter, Section, Heading or Group Service Code (Tariff) Service Description (1) (2) (3) (4) 22 Group 99543 Site preparation services 23 995431 Demolition services 24 995432 Site formation and clearance services including preparation services to make sites ready for subsequent construction work, test drilling and boring and core extraction, digging of trenches 25 995433 Excavating and earthmoving services 26 995434 Water well d

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Goods and Services Tax – Scheme of Classification of Services S.No. Chapter, Section, Heading or Group Service Code (Tariff) Service Description (1) (2) (3) (4) 29 Group 99544 Assembly and erection of prefabricated constructions 30 995441 Installation, assembly and erection services of prefabricated buildings 31 995442 Installation, assembly and erection services of other prefabricated structures and constructions 32 995443 Installation services of all types of street furniture (such as bus she

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Goods and Services Tax – Scheme of Classification of Services S.No. Chapter, Section, Heading or Group Service Code (Tariff) Service Description (1) (2) (3) (4) 1 Chapter 99 All Services 2 Section 5 Construction Services 3 Heading 9954 Construction services 4 Group 99541 Construction services of buildings 5 995411 Construction services of single dwelling or multi dwelling or multistoried residential buildings 6 995412 Construction services of other residential buildings such as old age homes, h

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Goods and Services Tax – Scheme of Classification of Services S.No. Chapter, Section, Heading or Group Service Code (Tariff) Service Description (1) (2) (3) (4) 12 Group 99542 General construction services of civil engineering works 13 995421 General construction services of highways, streets, roads, railways and airfield runways, bridges and tunnels 14 995422 General construction services of harbours, waterways, dams, water mains and lines, irrigation and other waterworks 15 995423 General con

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GST Update on Saved , Submitted and Filed in various GST Returns – Goods and Services Tax – GST – By: – Pradeep Jain – Dated:- 11-11-2017 – GSTR 1 prescribes the details to be provided by the taxpayer in relation to outward supplies made to the buyer for the relevant period. GSTR 1 needs to be filed by every taxpayer except Composition Scheme taxpayers, Non-Resident Foreign taxpayers, TDS deductors, E commerce Operators and Input Service Distributors as there are separate returns for them. This return is required to be filed by the 10th of subsequent month. While filing the returns, we will come across certain words with different interpretation i.e. SAVED , SUBMITTED and FILED in GSTR 1 and GSTR-2. Under GSTR 1, after saving the required p

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STR 2. The entries in GSTR 2 shall be mentioned by the buyer from 12th to 15th of the succeeding month. Adjustments, if any, is allowed to the seller in GSTR 1A on the 16th and 17th of the succeeding month after the buyer has uploaded his GSTR 2 The auto-populated invoice details will have the status of SUBMITTED or SAVED . Invoices will have SUBMITTED status when the counterparty has submitted its GSTR 1. When the status is SUBMITTED , the actions of Accept/Reject/Modify/ Pending would be available. Invoices will have SAVED status when the counterparty supplier has only uploaded the invoice details but NOT submitted its GSTR-1. When the status is SAVED, the actions of Accept/Reject/Modify/Keep Pending would NOT be available. Such SAVED inv

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Goods and Services Tax – GST – By: – CASanjay Kumawat – Dated:- 11-11-2017 – Introduction Due to various recommendations received by the C.B.E. & C from the various sectors of the economy, the C.B.E. & C. has clarified the following issues, are as follows: Supply of goods on approval basis within the State or in another State Taxability of Printing contracts (Issue related to Composite Supply) GST applicability on the Superior Kerosene Oil (SKO) retained for the manufacturer of Linear Alkyl Benzene (LAB) Classification of unstitched Salwar Suits Accordingly, a discussion on the above matters has been done, as follows: Supply of goods on approval basis within the State or in another State Background The suppliers of jewellery etc. who are registered in one State but may have to visit other States (other than their State of registration) and need to carry the goods (such as jewellery) along for approval. In such cases if jewellery etc. is approved by the buyer, then the supplier

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of goods . A combined reading of the above provisions indicates that the goods which are taken for supply on approval basis can be moved from the place of business of the registered supplier to another place within the same State or to a place outside the State on a delivery challan along with the e-way bill wherever applicable and the invoice may be issued at the time of delivery of goods. The person carrying the goods for such supply can carry the invoice book with him so that he can issue the invoice once the supply is fructified. All such supplies, where the supplier carries goods from one State to another and supplies them in a different State, will be inter-state supplies and attract IGST in terms of Section 5 of the Integrated Goods and Services Tax Act, 2017. . It is also clarified that this clarification would be applicable to all goods supplied under similar situations. [ C. B. E. & C Circular No. 10/10/2017-GST, dated 18.10.2017] Taxability of Printing contracts (Issue

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s of what constitutes the principal supply. Meaning of Principal Supply Principal supply has been defined in Section 2(90) of the CGST Act, 2017 as supply of goods or services which constitutes the predominant element of a composite supply and to which any other supply forming part of that composite supply is ancillary. Supply of services classified under heading 9989 In the case of printing of books, pamphlets, brochures, annual reports, and the like, where only content is supplied by the publisher or the person who owns the usage rights to the intangible inputs while the physical inputs including paper used for printing belong to the printer, supply of printing [of the content supplied by the recipient of supply] is the principal supply and therefore such supplies would constitute supply of service falling under heading 9989 of the scheme of classification of services. Supply of goods classified in Chapter 48 or 49, of the Customs Tariff In case of supply of printed envelopes, letter

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rivate Limited to JKPL shall be considered as supply of services falling under heading 9989 of the scheme of classification of services. As the supply of printing of the content (i.e., annual report) supplied by the recipient of supply (i.e., JKPL) is the principal supply. Supply of Goods: M/s. Arvind Associates has entered into contract with M/s Yuvance Printings Private Limited for supply of letter heads and envelops with logo of Arvind Associates. Design and Logo details will be supplied by the Arvind Associates. In this case, after printing, supply of letter head and envelope by M/s. Yuvance Printings Private Limited to Arvind Associates shall be considered as supply of goods under respective headings of Chapter 48 or 49, of the Customs Tariff. As the supply of printing of the content (i.e., logo) supplied by the recipient of supply(i.e., Arvind Associates) is ancillary to the principal supply of goods (i.e., supply of letter head and envelops). [ C. B. E. & C Circular No. 11/1

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tracted by the LAB manufactures ? Whether the return of remaining Kerosene by LAB manufactures would separately attract GST in such transaction ? Clarifications: GST will be payable by the refinery (IOC, in our case) on the value of net quantity of superior kerosene oil (SKO) retained (i.e., 15% to 17%) for the manufacture of Linear Alkyl Benzene (LAB). The refinery (IOC) would be liable to pay GST on such returned quantity of SKO, when the same is supplied by it to any other person. The clarification issued in the context of Goods & Service Tax (GST) law only and past issues, if any, will be dealt in accordance with the law prevailing at the material time. [ C. B. E. & C Circular No. 12/12/2017-GST, dated 26.10.2017] Classification of unstitched Salwar Suits Background: Before becoming readymade articles or an apparel, the fabric is cut from bundles or thans and sold in that unstitched state. The consumers buy these sets or pieces and get it stitched to their shape and size. I

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Goods and Services Tax – The following changes were recommended in the Composition Scheme on the basis of discussions held in the 23rd meeting of the GST Council held at Guwahati today. – TMI Updates – Highlights

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Goods and Services Tax – Recommendations made On GST Rate changes by the GST Council as per discussions in its 23rd Meeting on 10th November, 2017 held at Guwahati – TMI Updates – Highlights

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Goods and Services Tax – The GST Council, in its 23rd meeting held at Guwahati on 10th November 2017, has recommended the following facilitative measures for taxpayers: – TMI Updates – Highlights

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Goods and Services Tax – GST – Dated:- 10-11-2017 – Return Filing a) The return filing process is to be further simplified in the following manner: i. All taxpayers would file return in FORM GSTR-3B along with payment of tax by 20th of the succeeding month till March, 2018. ii. For filing of details in FORM GSTR-1 till March 2018, taxpayers would be divided into two categories. Details of these two categories along with the last date of filing GSTR 1 are as follows: (a) Taxpayers with annual aggregate turnover upto ₹ 1.5 croreneed to file GSTR-1 on quarterly basis as per following frequency: Period Dates Jul- Sep 31st Dec 2017 Oct- Dec 15th Feb 2018 Jan- Mar 30th April 2018 (b) Taxpayers with annual aggregate turnover more than &#837

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to their Electronic Cash Ledger under Tax head instead of Fee head so as to enable them to use that amount for discharge of their future tax liabilities. The software changes for this would be made and thereafter this decision will be implemented. c) For subsequent months, i.e. October 2017 onwards, the amount of late fee payable by a taxpayerwhose tax liability for that month was NIL will be ₹ 20/- per day (Rs. 10/- per day eachunder CGST & SGST Acts) instead of ₹ 200/- per day (Rs. 100/- per day eachunder CGST & SGST Acts). Manual Filing d) A facility for manual filing of application for advance ruling is being introduced for the time being. Further benefits for service providers e) Exports of services to Nepal and Bhu

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aggregate turnover does not exceed twenty lakh rupees. As a result, all service providers, whether supplying intra-State, inter-State or through e-commerce operator, will be exempt from obtaining GST registration, provided their aggregate turnover does not exceed ₹ 20 lakhs (Rs. 10 lakhs in special category States except J & K). Extension of dates g) Taking cognizance of the late availability or unavailability of some forms on the common portal, it has been decided that the due dates for furnishing the following forms shall be extended as under: S. No. FORM and Details Original due date Revised due date 1 GST ITC-04 for the quarter July-September, 2017 25.10.2017 31.12.2017 2 GSTR-4 for the quarter July-September, 2017 18.10.2017

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Goods and Services Tax – GST – Dated:- 10-11-2017 – Recommendations made On GST Rate changes by the GST Council as per discussions in its 23rd Meeting on 10th November, 2017 held at Guwahati a) In the meeting held today, that is 10th November, 2017, the Council has recommended major relief in GST rates on certain goods and services. These recommendations spread across many sectors and across commodities. b) As per these recommendations, the list of 28% GST rated goods is recommended to be pruned substantially, from 224 tariff headings [about 18.5% of total tariff headings at 4-digit] to only 50 tariff headings including 4 headings which have been partially reduced to 18% [about 4% of total tariff headings at 4-digit]. c) Further, the Council has recommended changes in GST rates on a number of goods, so as to rationalise the rate structure with a view to minimise classification disputes. d) The Council has also recommended issuance of certain clarifications to address the grievance of

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lar furnishing Trunk, suitcase, vanity cases, brief cases, travelling bags and other hand bags, cases Detergents, washing and cleaning preparations Liquid or cream for washing the skin Shampoos; Hair cream, Hair dyes (natural, herbal or synthetic) and similar other goods; henna powder or paste, not mixed with any other ingredient; Pre-shave, shaving or after-shave preparations, personal deodorants, bath preparations, perfumery, cosmetic or toilet preparations, room deodorisers Perfumes and toilet waters Beauty or make-up preparations Fans, pumps, compressors Lamp and light fitting Primary cell and primary batteries Sanitary ware and parts thereof of all kind Articles of plastic, floor covering, baths, shower, sinks, washbasins, seats, sanitary ware of plastic Slabs of marbles and granite Goods of marble and granite such as tiles Ceramic tiles of all kinds Miscellaneous articles such as vacuum flasks, lighters, Wrist watches, clocks, watch movement, watch cases, straps, parts Article of

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g housings, gears and gearing; ball or roller screws; gaskets Electrical apparatus for radio and television broadcasting Sound recording or reproducing apparatus Signalling, safety or traffic control equipment for transports Physical exercise equipment, festival and carnival equipment, swings, shooting galleries, roundabouts, gymnastic and athletic equipment All musical instruments and their parts Artificial flowers, foliage and artificial fruits Explosive, anti-knocking preparation, fireworks Cocoa butter, fat, oil powder, Extract, essence ad concentrates of coffee, miscellaneous food preparations Chocolates, Chewing gum / bubble gum Malt extract and food preparations of flour, groats, meal, starch or malt extract Waffles and wafers coated with chocolate or containing chocolate Rubber tubes and miscellaneous articles of rubber Goggles, binoculars, telescope, Cinematographic cameras and projectors, image projector, Microscope, specified laboratory equipment, specified scientific equipm

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ii. Flour of potatoes put up in unit container bearing a brand name iii. Chutney powder iv. Fly ash v. Sulphur recovered in refining of crude vi. Fly ash aggregate with 90% or more fly ash content c) 12% to 5% i. Desiccated coconut ii. Narrow woven fabric including cotton newar [with no refund of unutilised input tax credit] iii. Idli, dosa batter iv. Finished leather, chamois and composition leather v. Coir cordage and ropes, jute twine, coir products vi. Fishing net and fishing hooks vii. Worn clothing viii. Fly ash brick d) 5% to nil i. Guar meal ii. Hop cone (other than grounded, powdered or in pellet form) iii. Certain dried vegetables such as sweet potatoes, maniac iv. Unworked coconut shell v. Fish frozen or dried (not put up in unit container bearing a brand name) vi. Khandsari sugar e) Miscellaneous i. GST rates on aircraft engines from 28%/18% to 5%, aircraft tyres from 28% to 5% and aircraft seats from 28% to 5%. ii. GST rate on bangles of lac/shellac from 3% GST rate to Ni

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or IISc, or IITs or NIT. vi. Coverage of more items, such as temporary import of professional equipment by accredited press persons visiting India to cover certain events, broadcasting equipments, sports items, testing equipment, under ATA carnet system. These goods are to be re-exported after the specified use is over. (IV) Other changes for simplification and harmonisation or clarification of issues i. To clarify that inter-state movement of goods like rigs, tools, spares and goods on wheel like cranes, not being in the course of furtherance of supply of such goods, does not constitute a supply. This clarification gives major compliance relief to industry as there are frequent inter-state movement of such kind in the course of providing services to customers or for the purposes of getting such goods repaired or refurbished or for any self-use. Service provided using such goods would in any case attract applicable tax. ii. To prescribe that GST on supply of raw cotton by agriculturist

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d. vi. GST rate on job work services in relation to manufacture of those handicraft goods in respect of which the casual taxable person has been exempted from obtaining registration, to be reduced to 5% with full input tax credit. (B) Rationalization of certain exemption entries i. The existing exemption entries with respect to services provided by Fair Price Shops to the Central Government, State Governments or Union Territories by way of sale of food grains, kerosene, sugar, edible oil, etc. under Public Distribution System (PDS) against consideration in the form of commission or margin, is being rationalized so as to remove ambiguity regarding list of items and the category of recipients to whom the exemption is available. ii. In order to maintain consistency, entry at item (vi) of Sr. No.3 of notification No. 11/2017-CT(R) will be aligned with the entries at items (ii), (iii), (iv) and (v) of SI.No.3. [The word services in entry (vi) will be replaced with Composite supply of Works

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aggery, processed spices, processed dry fruits & cashew nuts etc. fall outside the definition of agricultural produce given in notification No. 11/2017-CT(R) and 12/2017-CT(R) and therefore the exemption from GST is not available to their loading, packing, warehousing etc. iii. A suitable clarification will be issued that (i) services provided to the Central Government, State Government, Union territory under any insurance scheme for which total premium is paid by the Central Government, State Government, Union territory are exempt from GST under Sl. No. 40 of notification No. 12/2017-Central Tax (Rate); (ii) services provided by State Government by way of general insurance (managed by government) to employees of the State government/ Police personnel, employees of Electricity Department or students are exempt vide entry 6 of notification No. 12/2017-CT(R) which exempts Services by Central Government, State Government, Union territory or local authority to individuals. 3. It is pro

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Goods and Services Tax – GST – Dated:- 10-11-2017 – The following changes were recommended in the Composition Scheme on the basis of discussions held in the 23rd meeting of the GST Council held at Guwahati today. i. Uniform rate of tax @ 1% under composition scheme for manufacturers andtraders (for traders, turnover will be counted only for supply of taxable goods). No change for composition scheme for restaurant. ii. Supply of services by Composition taxpayer upto ₹ 5 lakh per annum will

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Goods and Services Tax – GST rate on mass consumption items cut to 18pc – TMI Updates – Highlights

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Goods and Services Tax – Businesses can revise GST transition claim form now – TMI Updates – Highlights

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Goods and Services Tax – Started By: – Sanjeev Sharma – Dated:- 10-11-2017 Last Replied Date:- 14-11-2017 – One can add upto 10 authorised signatories other than primary authorised signatory. But I want to know, what will be the role of these Authorised signatories under GST working. Is it just for information?Regards – Reply By Kishan Barai – The Reply = Its meant for level of importance given to a particular person, suppose in partnership firm, many also add power of attorney to a particular partner so his signature would be valid in bank or other case if required, so he would be considered as leader, same is the case with Authorised signatory, in it if you want to give same importance to all partner you can mention all partner name in i

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Goods and Services Tax – GST – Dated:- 10-11-2017 – New Delhi, Nov 10 (PTI) GST Network today said businesses can now make changes to the forms uploaded on the portal to claim transition credit. The facility to revise Form GST TRAN-1 declaration has been introduced on the GST Portal for taxpayers who had already filed it prior to November 9, 2017, GSTN said in a statement. Form TRAN-1 declaration is to be filed by persons registered under GST law who wish to claim credit for taxes paid under pr

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Goods and Services Tax – GST – Dated:- 10-11-2017 – Guwahati, Nov 10 (PTI) The GST Council today decided to reduce tax rate on a wide range of mass use items – from chewing gums to detergents – to 18 per cent from current 28 per cent, Bihar Deputy Chief Minister Sushil Kumar Modi said. The all-powerful council pruned the list of items attracting the top 28 per cent tax rate to just 50 from 227 previously, Modi told reporters here. In effect, the council, in its 23rd meet today, cut rates on 177 goods. Facing intense heat from opposition-ruled states over keeping mass used goods in the 28 per cent bracket which was meant for luxury and de-merit goods, the Council pruned the list to 50 as against 62 that was recommended by its fitment commit

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Goods and Services Tax – Started By: – Nihal Shaikh – Dated:- 10-11-2017 Last Replied Date:- 13-11-2017 – Is services by way of transportation of goods by a vessel from a place outside India up to the customs station of clearance in India. In this service Reverse gst is applicable? pls explain – Reply By KASTURI SETHI – The Reply = Pl.peruse the Table given below:- GST Council decision dated 18-6-2017 with respect to GST rates for services and rate of tax for lotteries run/athourised by State G

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Goods and Services Tax – Started By: – Ramaswamy S – Dated:- 10-11-2017 Last Replied Date:- 22-3-2018 – Erstwhile Excise law the cost of the amortised value of tool is to be added to arrive at the transaction value as per Section 4 read with Valuation rules. Now under Section 15 of the CGST Act read with Rule 27 of the CGST Rules, it appears that the amortised cost ot the tool to be included in the value for GST. GOI Twitter reply to my tweet also says Yes to be included.The tweets of GOI have a disclaimer However, the customers mostly the MNC and auto giants are of the view that under the GST , the amortised cost of the tool is not includible to arrive at the value for GST. Seek your views. Regards S.Ramaswamy – Reply By MARIAPPAN GOVINDA

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of cost amortized value of the tool need not be included in the transaction value. However the issue will get settled only through litigation. – Reply By CS SANJAY MALHOTRA – The Reply = Endorsed the views of Sh. Rajgopalan as is area of dispute. – Reply By Ramaswamy S – The Reply = The supplier himself manufactures the tool as per the design and specification of the customer. The tool so manufactured were used in the manufacture of components for the customer. Therefore, the amortised cost of the tool was added to the value of the component when the components were sold to the customer. In the erstwhile law , for the tools exemption under 67/95 CE was claimed and the Local VAT was charged to the customer (even if the customer was outside

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Goods and Services Tax – GST – Dated:- 10-11-2017 – Question: I am a resident of Delhi having no business in Delhi or elsewhere but I have a commercial property in NOIDA on which I receive a rent of ₹ 25 lakhs. Where should I take registration and what tax should I pay ? Answer: As you do not have a place of business or a fixed establishment in UP (State where the your commercial property is located) you have to take registration in Delhi (State of your usual place of residence) and pay I

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Goods and Services Tax – Started By: – ICAT Natrip – Dated:- 10-11-2017 Last Replied Date:- 11-11-2017 – We have paid Freight to the parties and these are liable to reverse charge. Some parties/supplier is inter-state. While filing details of the same (reverse charge) in column 4B of GST -2, when we select POS (Uttar Pradesh), automatically Ineligible ITC filed in column of Eligible for ITC. We understand that as per law, these are Inter- state supply and also eligible for ITC. Due to this we a

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Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 10-11-2017 – Deemed Exports Section 147 of Central Goods and Services Tax Act, 2017 ( Act for short) provides that the Government may, on the recommendations of the Council, notify certain supplies of goods as deemed exports, where goods do not leave India and payment for such supplies is received either in Indian rupees or in convertible foreign exchange, if such goods are manufactured in India. Decision of GST Council In the 22nd meeting of GST Council, held on 06.10.2017 at New Delhi decided to resolve certain difficulties being faced by exporters in the post GST regime, the Council decided that the supplies of goods by a registered person to EOUs etc., would be treated as deemed exports under section 147 of the Act. The refund of tax paid on such supplies can be claimed either by the recipient or supplier of such supplies. Notification The Central Government accepted the recommendations of the GST Council as above

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for the third proviso to Rule 89 (1). The new proviso provides that in respect of supplies regarded as deemed exports, the application may be filed by- the recipient of deemed export supplies; or the supplier of deemed export supplies in cases where the recipient does not avail of input tax credit on such supplies and furnishes an undertaking to the effect that the supplier may claim the refund. Procedure and safeguards Circular No. 14/14/2017-GST, dated 06th November, 2017 issued by the GST Policy wing prescribes the procedure and safeguards for supplies to EOU in terms of Notification NO. 48/2017, which is as follows- The recipient EOU unit shall give prior intimation in Form A bearing a running serial number containing the goods to be procured, as pre-approved by the Development Commissioner and the details of the supplier before such deemed export supplies are made; The said information shall be given to- the registered supplier; the jurisdictional GST Officer in charge of such re

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f registered person; Details of supplies received- Description; Value; Quantity; Amount of GST paid by supplier- Central Tax; State Tax/Union Territory Tax; Integrated Tax; Cess Date of endorsed copy of tax invoice by EOU; Removal for processing- Date and time of removal; Quantity Value Remarks (The goods removed for processing shall be accounted in a manner that enables the verification of input-output norms, extent of waste, scrap generated etc.,) Other removals/Returns Purpose of removal; Date & Time; Quantity Value Balance in stock Quantity Value The software for maintenance of digital records shall incorporate the feature of audit trail; The data elements in Form B are mandatory; however the recipient unit will be free to add or continue with any additional data fields, as per their commercial requirements; All recipient units are required to enter data accurately and immediately upon the goods being received in, utilized by or removed from the said unit; The digital records s

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Goods and Services Tax – GST – By: – Pradeep Jain – Dated:- 10-11-2017 – Circular No. 11/11/2017-GST dated 20th October 2017 has been issued to clarify as follows:- • In the case of printing of books, pamphlets, brochures, annual reports, and the like, where only content is supplied by the publisher / person owning rights on intangible inputs and physical inputs like paper, ink, etc. belong to printing press, it would constitute as supply of service. • In case of supply of printed envelopes, letter cards, printed boxes, tissues, napkins, wall paper etc. falling under Chapter 48 or 49, printed with design, logo etc. supplied by the recipient of goods but made using physical inputs including paper belonging to the printer, it will

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he tax is levied as follows in GST regime:- • The printing press shall be paying the tax on the consideration received by it for printing the books by treating it as supply of services. As the outward supply is taxable, it will be able to avail the ITC which can be used for payment of tax. • The publication house will suffer the incidence of tax charged by the printing press. However, it will not be able to avail the ITC as its outward supply namely – supply of books is exempted by virtue of entry no. 119 of Notification no. 2/2017-CT(Rate) dated 28.6.2017. • The author receives the royalty, the tax on which is being paid by the publication house under reverse charge mechanism by virtue of entry no. 9 of Notification No. 13/2

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2017 (11) TMI 1335 – DELHI HIGH COURT – [2018] 1 GSTL (VAT) 17 (Del) – Penalty – Reverse charge mechanism – Fees for Overseas Borrowing paid to several non-resident financial institutions – Held that: – Goodness and precocious conduct of the respondent Corporation in making payment has to be appreciated and not condemned – The respondent-Corporation, to show their bona fides, had paid service tax even for the period prior to 19th April, 2006. Non-contest in the proceedings under Section 73 cannot be used as a ground or reason to establish and show that requirements of Section 78 are satisfied – penalty set aside – appeal dismissed – decided against Revenue. – SERTA 8/2017 Dated:- 10-11-2017 – MR. SANJIV KHANNA & MS. PRATHIBA M. SINGH

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ial institutions and through offshore borrowings. 3. For overseas borrowing, the respondent-Corporation had paid arrangement fee, annual agency fee, upfront fee, underwriting fee etc. to several non-resident financial institutions. 4. As per the case set up by the appellant, reverse charge principle was applicable on the said charges and the respondent-Corporation was liable to pay service tax on the aforesaid services under clause (12), Section 65 of Chapter-V of the Finance Act, 1994. 5. The stand taken by the respondent-Corporation was that as per their understanding, they were not liable to pay service tax on the aforesaid fee etc. payable to non-resident financial institutions. No service was rendered by these non-resident financial in

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said position to show the bona fides of the respondent-Corporation. 8. Counsel for the appellant submits that in view of the fact that the respondent-Corporation has made payment, it should be inferred that they accept their fault and the requirements for imposition of penalty under Section 78, i.e. fraud, collusion, misstatement, suppression of facts or contravention of any provision of the Act or the Rules made there under, with the intent to evade payment of service tax, was satisfied. It is stated that Section 78 is pari materia with the proviso to Section 73, which provides for extended period for recovery. Payments made by the respondent Corporation were for the extended period. 9. The said argument proceeds on the assumption that sin

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GST – States – 917/2017/9(120)/XXVII(8)/2017 – Dated:- 10-11-2017 – Government of Uttarakhand Finance Section – 8 Notification No. 917/2017/9(120)/XXVII(8)/2017 Dehradun, Dated 10/11/2017 WHEREAS, the State Government is satisfied that it is expedient so to do in public interest; NOW, THEREFORE, in exercise of the powers conferred by Section 128 of the Uttarakhand Goods and Services Tax Act, 2017 (06 of 2017), on the recommendations of the Council, the Governor, is pleased to allow to waive the

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