Author: admin_gst

Dated:- 23-8-2016 – Commissioner of Central Excise And Service Tax (LTU) , Mumbai Versus The Shipping Corporation of India Ltd. – 2016 (8) TMI 852 – CESTAT MUMBAI The issue though has been discussed in the context of Service Tax but has far reaching implications. One of the reasons given by the Hon'ble tribunal (third member) while ascertaining the nature of transaction for the purpose of service tax is, 29 Not to be overlooked also is the performance of service on goods or equipment with goods having the specific import supra. It may not be entirely correct in describing a ship or vessel as equipment though equipment may be fitted on board rendering the ascertainment thereof by the original authority to be that much more complex. It i

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ceans and the seas are equivalences of land and the inextricability of a vessel or ship from the waters should bring them within the ambit of immoveable. Ships before launch and for breaking up are goods but vessels or ships that are afloat are not goods except for the time that they are the subject of a sale agreement. That ships, vessels and motor vehicles need not exclusively be goods is also apparent in section 2 of Customs Act, 1962; they could also be conveyances. As conveyances, ships/vessels and motor vehicles move easily on water or land but, not being goods that are amenable to severance from land/water, are not distinguishable from immoveable property. Consequently, the legislative intent to tax repairs or maintenance of convey

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Goods and Services Tax – GST – Dated:- 23-8-2016 – A meeting was held under the Chairmanship of Revenue Secretary Dr Hasmukh Adhia to review the IT preparedness of the various stakeholders for smooth roll-out of Goods and Services Tax (GST). In the said meeting representatives of Reserve Bank of India (RBI), Principal CCA, Central Board of Excise & Customs (CBEC), Heads of Government Business and IT Heads of 29 Banks and Goods and Services Tax Network (GSTN) took part. Realizing the critica

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Goods and Services Tax – Started By: – Udaya Kiran – Dated:- 23-8-2016 Last Replied Date:- 11-9-2016 – Hello Sir,We have a business of booking rice mill machinery, Manufactured by X Company, to rice millers in Andhra Pradesh for which the X company pays commission to me. After GST, can we continue as it is or is it necessary that we purchase from X company and sell it to rice millers.Thank you. – Reply By KASTURI SETHI – The Reply = Sh.Udaya Kiran Ji, After the implementation of GST, the concept of Service will not abolish. It is subsumed into GST. In my view, it will continue. – Reply By Udaya Kiran – The Reply = Dear Sir,Thank you for the reply. – Reply By CS SANJAY MALHOTRA – The Reply = I fully endorse the views of Sh. Kasturi ji. Taxa

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Finance Secretary (FS) inaugurates the Training Program on Government E-Marketplace (GeM) for Government Users; FS: Training will enable the Government Procurement Officers to make best use of new technologies to procure goods and services in a more transparent, accountable and efficient manner. – News and Press Release – Dated:- 22-8-2016 – Press Information Bureau Government of India Ministry of Finance 22-August-2016 16:17 IST The one-day hands on training program for Procurement Officers of the Central Government Ministries/Departments was inaugurated here today by Shri Ashok Lavasa, Finance Secretary, Government of India. The training program has been jointly organized by DGS&D, National Institute of Financial Management (NIFM) and

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ame ease and efficiency that is presently offered by e-commerce sites. He wanted that such training programme should be taken seriously and more and more officers should be trained including the State Governments. The Finance Secretary requested the GeM team to make efforts to continuously improve the GeM portal and ensure that it remains free from manipulation and any unethical practices. Shri Lavasa also stated although it has been made mandatory on GeM to make payment to the vendors within 10 days of receipt of goods/services, efforts should be made to further reduce this time span as time is money and ultimately the cost of delayed payment is born by the Government. GeM has a potential to grow and will bring in a lot of credibility and

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Goods and Services Tax – GST – By: – esha agrawal – Dated:- 20-8-2016 Last Replied Date:- 22-8-2016 – Hello everyone coming with another article on GST, a very hot topic in discussion now a days , here is a gist of GST with meaning of some important terms which will help readers to understand the definitions properly and help practising chartered accountants to deal their clients efficiently in the matter of GST You all must have heard so many information on the Goods and Services Tax. Some are saying GST will take away the cascading impact of taxes and some are saying GST is one nation, one rate . Firstly GST will not reduce the amount of tax you pay, but it will make it less tiresome to pay and collect. GST is about fewer taxes, at unified rate, as we all know that the taxes are levied both by central and state government in indirect taxes in different level like vat , service tax, excise duty etc, what GST will do is to sweep ( subsume ) many indirect taxes into a single label. As

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d from taxes due on final product, but this exists in name only because so many taxes like central sales tax, additional excise and customs duty, luxury tax, to name a few – are not eligible for such set-offs, As a result, both producers and sellers end up paying taxes on the same inputs over and over again. It should be thanks that in case of GST there is no concept of input tax credit all taxes are summed up and GST is you pay just once for. Now here is the meaning of some basic terms in GST like What does the word GOODS means in GST Goods means all kinds of movable properties (which can be moved as such without any dismantling) (only tangible) eg:- visualize, marker, exercise machine, fan etc INCLUDING securities, growing crops & grass, things attached to or forming art of the land e.g. electricity pole etc EXCLUDING money, Actionable claim What does the word SERVICES means in GST ANYTHING OTHER THAN GOODS i.e. Do something or not to do something (like non competence contract, c

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ansferred then it is called supply of service In case of business assets if it is permanent transfer then it is called supply of goods, but if temporary transfer then it is called supply of services, if sold by third party (bank) then supply of goods by the person In case of Immovable Property If there is Renting/ Leasing of immovable property then it issupply of service If sale of under construction property then also it is supply of service In case of Intangible Property (IPR) Intangible property is either temporary or permanent transfer in both the cases it is supply of service In case of software If the software is customised then it is supply of service But if the software is readymade then it is supply of goods Goods on which 100% Exemption is there in GST ROTI :- flour, pulse, rice, milk, cereals, poultry etc KAPDA:- textile MAKAN:- renting for residential/ construction for one family SHIKSHA:- playway to XII- approved degree, diploma SWASTHYA:- health care- diagnose, treatment

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n act. Thanks. – Reply By esha agrawal – The Reply = There is no such notification this I have written just to make understand readers easily – Reply By KASTURI SETHI – The Reply = Nicely explained by both experts i.e. Sh.Ganeshan Kalyani Ji and the author. – Reply By swaminathan venkataraman – The Reply = Wprt : In case of Immovable Property If sale of under construction property then also it is supply of – GOODS AND service – ( envisaged to be rolled into one, though). To note the words in FONT; see : SCHEDULE II MATTERS TO BE TREATED AS SUPPLY OF GOODS OR SERVICES …….. If so care and interested, for individual's own and the common good, look up and give further thoughts to the canvassed viewpoints against the constitutionality /propriety of the proposed levy as shared, with reasoning, on Facebook /Linkedin, also elsewhere in public domain. – Reply By KASTURI SETHI – The Reply = Respected Madam,Will it be compulsory for all i.e. manufacturer, wholesale dealer and retailer to

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Goods and Services Tax – GST – Dated:- 19-8-2016 – Continuing with its commitment to the early and smooth roll-out of the Goods and Services Tax (GST) and recognizing the role of trade and industry as equal partners and stakeholders in this historic reform, both Department of Revenue and Central Board of Excise and Customs (CBEC) are holding interactive sessions, spread over three days starting from yesterday i.e. 17th August, 2016, with representatives of the various sectors of the economy. Revenue Secretary Dr Hasmukh Adhia along with senior officers of the Department of Revenue and CBEC held meetings with representatives of IT and ITES and Transport Sector yesterday and with the representatives of e-commerce and Communications today. Se

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Goods and Services Tax – GST – By: – Bimal jain – Dated:- 19-8-2016 Last Replied Date:- 19-8-2016 – Dear Professional Colleague, The long-delayed Constitution (122nd Amendment) Bill, 2014 on GST ( 122nd CAB or GST Bill ) has finally got the nod of the Rajya Sabha on August 3,2016, with the Government successfully stitching together a political consensus on the GST Bill, to pave the way for much-awaited roll out of the landmark tax reform that will create a common market of 1.25 billion people.GST, is the biggest indirect tax reform since independence, is aimed at dismantling Inter-State barriers to trade in goods and services by subsuming a slew of around 17 indirect taxes viz. Excise Duty, Service Tax, VAT, CST, Luxury tax, Entertainment Tax, Entry Tax, Octroi, etc. The Rajya Sabha has unanimously passed the ambitious GST Bill as amended with over 2/3 majority. The motion for the constitutional amendment for the GST Bill has been passed with 197 Ayes. It was crucial for the critical

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roposed in the GST Bill to enable implementation of GST. These proposed amendments importantly includes dropping of 1% additional tax on Inter-State Sale of goods and a definite provision in the statute for 100% compensating the States for any revenue loss for 5 years, amongst others. With these official amendments, the Government partially met the demands of the Congress party which has been blocking the bill in the Rajya Sabha and this enabled the 122nd CAB to finally see the light of the day. We are summarising herewith key amendments to the GST Bill, which was circulated to Rajya Sabha members on August 2, 2016, for easy digest: Dropping 1% Additional taxon Inter-State supply of goods: It is proposed to delete the provision under Clause 18 of the GST Bill. Clause 18 of the GST Bill:The 122nd CAB proposes for levy of an Additional tax, not exceeding 1%, on Inter-State supply of goods in the course of Inter-State trade or commerce. It is proposed that such Additional tax would be lev

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od which may extend to five years, based on the recommendations of the GST Council. This implies that Parliament may decide to provide compensation to States and may also decide the time period for which it can provide such compensation, which may extend to five years. Proposed amendment:The Parliament shall, by law, provide for compensation to States for any loss of revenues arising on account of GST, for a period which may extend to five years, based on the recommendations of the GST Council. This implies that the Parliament must provide compensation and compensation shall be provided for a maximum time period of five years. Recommendation of the Select Committee, 2015:The Committee felt that there is no justification for substitution of the word may with shall . It, however, recommended that compensation should be provided for whole period of 5 years and accordingly proposed amended Clause 19 as follows: 19. Parliament may, by law, on the recommendation of the Goods and Services Tax

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ment) Bill, 2011. Other changes: Integrated Goods and Services Tax ( IGST ) Clause 9: Apportionment of IGST i.e. Article 269A: It has been clarified that the States share of the IGST shall not form a part of the Consolidated fund of India. Clause 12: IGST term to be replaced with GST on suppliesin the course of inter-state trade or commerce: Under Clause 12 of the GST Bill, it was mentioned that the GST Council would make recommendations on the apportionment of the IGST. Since, the term IGST was not defined,it has been proposed to replace this term with Goods and Services Tax levied on supplies in the course of inter-state trade or commerce under article 269A . Inclusion of CGST and IGST in tax devolution to States It has been proposed that under Clause 10 of the GST Bill, CGST and the Centre s share of IGST will be distributed between the Centre and States. Clause 10 of the GST Bill: The GST collected and levied by the Centre, other than States share of IGST, (CGST and Centre s share

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Goods and Services Tax – GST – By: – Bimal jain – Dated:- 18-8-2016 Last Replied Date:- 18-8-2016 – With a strong pitch for one nation one tax , the Hon ble Finance Minister, Shri. Arun Jaitley presented, on August 8, 2016, in the Lok Sabha, the Constitution (122ndAmendment) Bill, 2014 on GST ( 122nd CAB or GST Bill ), which was passed by the Rajya Sabha on August 3, 3016 with certain key amendments, that enables the GST in the country. The Lok Sabha has unanimously passed the GST Bill with all 443 members present in the Lower House of the Parliament voting in favour of the Bill, ratifying earlier nod by Rajya Sabha members. However, AIADMK leader P. Venugopal staged a walk-out unhappy with the clarifications presented by Finance Minister, Shri. Arun Jaitley on the GST Bill. GST can't be seen as a victory of a party or government, it is victory for democratic ethos of India and a victory for everyone, Hon ble Prime Minister, Shri. Narendra Modi said. The Prime Minister promised fr

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tee of Rajya Sabha which had submitted its Report on 122nd CAB on July 22, 2015. The GST Bill was introduced in Rajya Sabha in May last year where it has been pending because of consensus to be emerged between ruling and opposition party over certain provisions viz. Dropping of 1% additional tax on Inter-State sale of goods, Capping of GST rate in 122nd CAB, Forming of dispute resolution authority. The key to forging consensus was the amendments the National Democratic Alliance (NDA) effected in the GST Bill, a copy of which was circulated among Rajya Sabha members on August 2, 2016, which importantly includes, dropping of 1% additional tax on Inter-State Sale of goods and a definite provision in the statute for 100% compensating the States for any revenue loss for 5 years, amongst others. Since there were key amendments in the original draft of the GST Bill that was passed in the Lok Sabha last year, the GST Bill is, once again, sent back to the Lok Sabha, which has finally been passe

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es. Passage of the 122nd CAB in the Parliament is being seen as a big victory for the Narendra Modi government. The next big challenge for the government is to get the States on board and get rest of the process going as quickly as possible to meet the deadline of implementation of GST by April 2017. These steps would require a lot of time, patience and constant deliberations both at the States and Central Government level along with substantial engagement with the industry bodies, traders, service providers and almost every local trade bodies and associations. The GST roll-out deadline of April 1, 2017, is certainly stiff. But it's still better to have a deadline Shri. Arun Jaitley, Finance Minister Video presentation on key aspects of Model GST Law: Watch the video presentation on Draft GST Law – Levy, Taxable Event: Supply, Taxable Person, Composition Scheme at https://www.youtube.com/watch?v=XrWHZMZf8GQ to enrich knowledge regarding the key takeaways of the Model GST Law and th

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Goods and Services Tax – Started By: – CA Alkesh Kasliwal – Dated:- 13-8-2016 Last Replied Date:- 10-7-2017 – My Query is thatMany of the manufacturing unit get exemption by State Govt. of VAT And CST under industrial Promotion Policy 2014 in Madhya Pradesh for Five from the date of Commencement of production of New unitsSo my query is that whether the same exemption is also available for the aforsaid entity or not Please clarify.. As soon as possible – Reply By Rajagopalan Ranganathan – The Reply = Sir,It all depends on the provision of GST law to be enacted, rules to be framed under the law and Notifications to be issued under the law and the rules. Therefore it is too early to advise that the exemptions granted under exisisting law will

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s given under VAT regime. Even earlier when Sales tax was changed to VAT the exemption made available were continued upto the period of eligibility. Thanks. – Reply By YAGAY AND SUN – The Reply = Such State specific industrial promotion scheme shall be ended and refund mechanism after payment of GST will come into picture. – Reply By Ganeshan Kalyani – The Reply = Sir, agreed but those companies which have already invested huge capital and the Govt. Has already given them exemption for a particular period. I guess these exemption shall continue until such period. However I agree that those are planning to invest in GST regime the exemption shall not be given. Thanks. – Reply By KRT MOTORS – The Reply = as an end user and the valid gst tax p

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Goods and Services Tax – GST – By: – CA Akash Phophalia – Dated:- 13-8-2016 Last Replied Date:- 11-5-2017 – Editorial Note Model GST law has provided special procedure for removal of goods from principal manufacturer to job worker and return from job worker to principal manufacturer subject to certain conditions and limitations. This article aims at enlightening readers about the provisions related to job work. Introduction The definition of supply is very wide and had covered almost all sorts of transactions within its ambit. Material sent for job work is also covered under supply. Hence, GST would be payable on material sent for job work. However, law has kept this special transaction into consideration while drafting and thus it provides for special procedure for removal and receipt of goods sent on job work. Meaning of Job work Job work means undertaking any treatment or process by a person on goods belonging to another registered taxable person and the expression job worker shall

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ker to another job worker without payment of duty. Time limit for receipt of goods back from job worker Section 43A which provides for special procedure for removal of goods on job work does not specify any time limit for receipt of goods back However, another provision contained in clause 16A specifies time limit for receipt of goods. Accordingly, inputs should be received back within the period of 180 days of receipt of goods by job worker. Further, this time limit in respect of capital goods is 2 years. Treatment to goods received back from job worker After completion of job-work, Principal may either (a) bring back such goods to any of his place of business, without payment of tax, for supply therefrom on payment of tax within India, or with or without payment of tax for export, as the case may be, or (b) supply such goods from the place of business of a job-worker on payment of tax within India, or with or without payment of tax for export, as the case may be. Direct dispatch from

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work, are received back by him within one hundred and eighty days of their being sent out: The principal shall be entitled to take credit of input tax on inputs even if the input are directly sent to a job worker for job-work without their being first brought to his place of business, and in such a case, the period of one hundred and eighty days shall be counted from the date of receipt of the inputs by the job worker. Input tax credit of capital goods sent to job worker – The principal shall, subject to such conditions and restrictions as may be prescribed, be entitled to take credit of input tax on capital goods sent to a job-worker for job-worker for job-work if the said capital goods, after completion of job-worker for received back by him within two years of their being sent out. The principal shall be entitled to take credit of input tax on capital goods even if the capital goods are directly sent to a job worker for job-work without their being first brought to his place of busi

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an sent material for job work without payment of excise duty. As per Model Law if inputs or/ and semi-finished goods were sent for job work prior to introduction of GST law and were lying with the job worker, declaration shall be submitted by both manufacturer and job worker within specified period. The goods can be brought back to place of Principal manufacturer within six months without payment of tax. However, this period of six months can be extended by Commissioner for period of two months. If the material is not returned within six months (or further two months if extension is granted), tax will be payable by job worker or manufacturer. Transitional provisions in respect of finished goods sent for test purpose As per Model Law if finished goods were sent out for test or further process prior to introduction of GST law and were lying outside, these can be brought back within six months from date of commencement of GST law. The finished goods can also be supplied directly on paymen

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Goods and Services Tax – GST – By: – Dr. Sanjiv Agarwal – Dated:- 13-8-2016 Last Replied Date:- 18-8-2016 – After 25 years India started walking on the road to economic reforms and as India marches towards introduction of GST in 2016-17 in 70th year of its independence, we may liberalize ourselves from the clutches of multiplicity of taxes levied by both, centre as well as states. However, the GST which is proposed in the current form is a combination of three types of taxes- Central GST, State GST and Integrated GST. There cannot be a better way to celebrate India's independence. The dream to have GST in India may soon be a reality now. The month of August once again became historic after August of 1947 when India attained independence from British raj. August 2016 created a historic achievement once again as India march ahead on the road to fiscal freedom on tax front as 122nd Constitutional Amendment has been approved by both the houses of Indian Parliament i.e, on 3rd August 2

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56) Service Tax (1994) and a host of state levied taxes including Value Added Tax (VAT). GST aims at subsuming many multiple taxes presently levied by Central and State Governments with the objective to follow one nation – one market – one tax policy and scrap the cascading effect of taxes on cost i.e. payment of tax on taxes. GST would therefore, bring in economies of scale, operational efficiency, lower cost of production and benefits accruing to consumers. GST is expected to change the way businesses are done, provide host of opportunities to professionals, reduce corruption and consumer will eventually benefit. Constitutional Amendment The Constitution (122nd Amendment) Bill, 2014 as amended has now been passed by both the houses of Parliament in August, 2016 – on 3rd August by Rajya Sabha and on 8th August by Lok Sabha ( and that too unanimously in both houses). The major amendments made in the original Constitutional Amendment Bill while passage thereof include the following : Th

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tainment Tax (other than the tax levied by the local bodies), Central Sales Tax (levied by the Centre and collected by the States), Octroi and Entry tax, Purchase Tax, Luxury tax, and Taxes on lottery, betting and gambling. However, it will have to be ensured by the GST Council that states should not levy new taxes in future (unless there is a emergency) to complicate the taxes again over a period. We should not have a sequel of GST like GST-2 after a decade or so. This is important as centre has agreed to compensate the states for any revenue loss arising out of GST. Also, there is a need to discourage local bodies to levy taxes. Their fund requirements may be met by States. Benefits of GST The benefits of GST accruing to various stake holders can be summarized as under: For business and industry Easy compliance: A robust and comprehensive IT system would be the foundation of the GST regime in India. Therefore, all tax payer services such as registrations, returns, payments, etc. woul

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f locally manufactured goods and services. This will increase the competitiveness of Indian goods and services in the international market and give boost to Indian exports. The uniformity in tax rates and procedures across the country will also go a long way in reducing the compliance cost. For Central and State Governments Simple and easy to administer: Multiple indirect taxes at the Central and State levels are being replaced by GST. Backed with a robust end-to-end IT system, GST would be simpler and easier to administer than all other indirect taxes of the Centre and State levied so far. Better controls on leakage: GST will result in better tax compliance due to a robust IT infrastructure. Due to the seamless transfer of input tax credit from one stage to another in the chain of value addition, there is an in-built mechanism in the design of GST that would incentivize tax compliance by traders. Higher revenue efficiency: GST is expected to decrease the cost of collection of tax reve

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levy and collect Central Goods and Services Tax (CGST), and States would levy and collect the State Goods and Services Tax (SGST) on all transactions within a State. Input Tax Credit The input tax credit of CGST would be available for discharging the CGST liability on the output at each stage. Similarly, the credit of SGST paid on inputs would be allowed for paying the SGST on output. No cross utilization of credit between CGST and SGST would be permitted. However, IGST can be set off against IGST, CGST and SGST. GST Preparedness Preparedness for GST in next few months will involve Tax Planning Review, Transactions Review, Training Manpower, Cost Effectiveness in Inventory, logistics & Final goods, business Planning with anticipation of new tax structure with competition, Fastest Implementation & Transition to GST, Procurement and Purchase Orders Implementation, Invoicing Patterns, Proper Implementation of GST Transition in input stage credit, tax management versus business op

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Goods and Services Tax – GST – By: – Balasubramanian Natarajan – Dated:- 12-8-2016 Last Replied Date:- 14-8-2016 – Section Content Our Comments 2(6) (6) aggregate turnover means the aggregate value of all taxable and non-taxable supplies, exempt supplies and exports of goods and/or services of a person having the same PAN, to be computed on all India basis and excludes taxes, if any, charged under the CGST Act, SGST Act and the IGST Act, as the case may be; Explanation.- Aggregate turnover does not include the value of supplies on which tax is levied on reverse charge basis and the value of inward supplies. For determining the Threshold limit this is important. All India Turn over of both Goods and Services will be clubbed. For working out threshold limits for individual states how this will be applied is not clear 2(7) (7) agriculture with all its grammatical variations and cognate expressions, includes floriculture, horticulture, sericulture, the raising of crops, grass or garden pr

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sure of business; (e) provision by a club, association, society, or any such body (for a subscription or any other consideration) of the facilities or benefits to its members, as the case may be; (f) admission, for a consideration, of persons to any premises; and (g) services supplied by a person as the holder of an office which has been accepted by him in the course or furtherance of his trade, profession or vocation; A very wide and inclusive definition. Covers Profession and Vocation or any other similar activity. Te term similar activity may give scope for interpretation and disputes 2(21) (21) casual taxable person means a person who occasionally undertakes transactions involving supply of goods and/or services in the course or furtherance of business whether as principal, agent or in any other capacity, in a taxable territory where he has no fixed place of business; IF done in individual capacity not in the course or furtherance of business is not covered 2(27) (27) composite sup

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on: Provided that a deposit, whether refundable or not, given in respect of the supply of goods and/or services shall not be considered as payment made for the supply unless the supplier applies the deposit as consideration for the supply Payment for inducement of supply of goods or services is also a consideration. Any Deposit which is not applied as consideration by the supplier for supply will not be treated as consideration It covers even advance payments made for supply of goods 2(30) (30) continuous supply of goods means a supply of goods which is provided, or agreed to be provided, continuously or on recurrent basis, under a contract, whether not by means of a wire, cable, pipeline or other conduit, and for which the supplier invoices the recipient on a regular or periodic basis; The periodicity of such supplies and the period of contract is not specified 2(31) (31) continuous supply of services means a supply of services which is provided, or agreed to be provided, continuously

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e expressions, means taking out of India to a place outside India; Why taking out and not supply from India to a place outside India 2(44) (44) the supply of any service shall be treated as export of service when (a) the supplier of service is located in India, (b) the recipient of service is located outside India, (c) the place of supply of service is outside India, (d) the payment for such service has been received by the supplier of service in convertible foreign exchange, and (e) the supplier of service and recipient of service are not merely establishments of a distinct person; Explanation.- For the purposes of clause (e), an establishment of a person in India and any of his other establishment outside India shall be treated as establishments of distinct persons. 2(46) (46) fixed establishment means a place (other than the place of business) which is characterised by a sufficient degree of permanence and suitable structure in terms of human and technical resources to supply servic

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planation 1.- An establishment of a person in India and any of his other establishment outside India shall be treated as establishments of distinct persons. Explanation 2.- A person carrying on a business through a branch or agency or representational office in any territory shall be treated as having an establishment in that territory 2(54) (54) input means any goods other than capital goods, subject to exceptions as may be provided under this Act or the rules made thereunder, used or intended to be used by a supplier for making an outward supply in the course or furtherance of business; Used or Intended to be used Other than capital goods For making Outward Supply In the Course of Business or For furtherance of Business 2(55) (55) input service means any service, subject to exceptions as may be provided under this Act or the rules made thereunder, used or intended to be used by a supplier for making an outward supply in the course or furtherance of business; The word intended to be u

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obtained, that is to say, a fixed establishment elsewhere, the location of such fixed establishment; (iii) where a supply is received at more than one establishment, whether the place of business or fixed establishment, the location of the establishment most directly concerned with the receipt of the supply; and (iv) in absence of such places, the location of the usual place of residence of the recipient; 2(65) (65) location of supplier of service means: (i) where a supply is made from a place of business for which registration has been obtained, the location of such place of business ; (ii) where a supply is made from a place other than the place of business for which registration has been obtained, that is to say, a fixed establishment elsewhere, the location of such fixed establishment; (iii) where a supply is made from more than one establishment, whether the place of business or fixed establishment, the location of the establishment most directly concerned with the provision of t

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es a warehouse, a godown or any other place where a taxable person stores his goods, provides or receives goods and/or services; or (b) a place where a taxable person maintains his books of account; or (c) a place where a taxable person is engaged in business through an agent, by whatever name called; Why the word taxable person is used here 2(80) (80) recipient of supply of goods and/or services means- (a) where a consideration is payable for the supply of goods and/or services, the person who is liable to pay that consideration, (b) where no consideration is payable for the supply of goods, the person to whom the goods are delivered or made available, or to whom possession or use of the goods is given or made available, and (c) where no consideration is payable for the supply of a service, the person to whom the service is rendered, and any reference to a person to whom a supply is made shall be construed as a reference to the recipient of the supply; Explanation.- The expression rec

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roperty There are different definitions are given in different act as per there uses and needs. But in the most important act which exclusively talks about the property and rights related to property transfer of property act 1882 has no definite definition of the term property. But it is defined in some other act as per their use and need. Those definitions are as follows: Section 2(c) of the Benami Transactions (Prohibition) Act, 1988 defines property as: Property means property of any kind, whether movable or immovable, tangible or intangible, and includes any right or interest in such property. Section 2 (11) of the Sale of Good Act, 1930 defines property as: Property means the general property in goods, and not merely a special property. 2(104) (104) turnover in a State means the aggregate value of all taxable and non-taxable supplies, including exempt supplies and exports of goods and / or services made within a State by a taxable person and inter-state supplies of goods and / or

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r not for a consideration and whether or not in the course or furtherance of business, and (c) a supply specified in Schedule I, made or agreed to be made without a consideration. (2) Schedule II, in respect of matters mentioned therein, shall apply for determining what is, or is to be treated as a supply of goods or a supply of services. (2A) Where a person acting as an agent who, for an agreed commission or brokerage, either supplies or receives any goods and/or services on behalf of any principal, the transaction between such principal and agent shall be deemed to be a supply. (3) Subject to sub-section (2), the Central or a State Government may, upon recommendation of the Council, specify, by notification, the transactions that are to be treated as- (i) a supply of goods and not as a supply of services; or (ii) a supply of services and not as a supply of goods; or (iii) neither a supply of goods nor a supply of services. (4) Notwithstanding anything contained in sub-section (1), th

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News and Press Release – Dated:- 11-8-2016 – Consumer Price Indices (Rural, Urban, Combined), compiled by the Ministry of Statistics and Programme Implementation, reflects the realistic picture of the prices of consumer goods and services because of the following reasons: prices are collected from 1,181 selected village markets covering all districts of the country for rural areas and from 1,114 urban markets of 310 selected towns of urban areas; these markets are, more or less equally, distrib

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Goods and Services Tax – Started By: – Binu Karuthedath – Dated:- 11-8-2016 Last Replied Date:- 11-9-2016 – Dear Sir How we can determine the point of sales in connection with IPR interstate sale for VAT payment – Reply By JSW CEMENT LIMITED – The Reply = In my opinion, the day when the right to use the intellectual property has been assigned to buyer, the date and time of such assignment shall be the point of sale. – Reply By Ganeshan Kalyani – The Reply = Sir, the point of taxation is the tim

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Goods and Services Tax – GST – By: – CA Akash Phophalia – Dated:- 11-8-2016 Last Replied Date:- 12-8-2016 – Editorial Note The concept of indirect taxation is in the process of revolutionary change. Concept of manufacturing, sale and provision of service are going to be merged in the new concept of supply. This article aims at enlightening readers about the current provision of Model GST law in relation to agriculturist. Introduction India is the land of villages. The saying is clear about the core activities of majority residents of our country. Agriculture is the key activity and needs to be kept out of the purview of taxation law. Currently, it is out of the purview of excise and core agriculturally and related activities are kept out of service tax law also. Further, VAT law has also kept agricultural products out of taxation regime. This intent of law is seemed to be carried as legacy under the upcoming new GST regime also. Meaning of Agriculture Clause 2(7) of Model GST Act prov

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g of this term is explained hereunder. Meaning of to cultivate personally It means to carry on any agricultural operation on one s own account – (a) by one s own labour, or (b) by the labour of one s family, or (c) by servants on wages payable in cash or kind (but not in crop share) or by hired labour under one s personal supervision or the personal supervision of any member of one s family. As per explanations given in the said clause, a widow or minor or a person who is subject to any physical or mental disability or is a serving member of the armed forces of the Union, shall be deemed to cultivate land personally if it is cultivated by her or his servants or by hired labour. In case of Hindu undivided family, land shall be deemed to be cultivated personally, if it is cultivated by any member of such family. Who can be an agriculturist? Form the plain reading of the meaning of agriculturist it gives an impression that any person whether it may be an individual, or firm or HUF or asso

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nderstood in the common parlance. Although agricultural operations are normally carried on the land which is called as an agricultural land in common parlance. But it is not statutorily required that the land has to be an agricultural land. Further, it is noticeable point that agricultural operations could be carried out at any place and not essentially on ground land. Benefit to agriculturist Tax under GST law is payable by the taxable person and it is the taxable person who needs to comply with all the formalities under GST law. Taxable person is defined under clause 9 of the Model GST law. The said clause provides that an agriculturist shall not be considered as a taxable person. It implies that once a person is an agriculturist then it is not required to comply with any of the compliances under this law being not a taxable person. Boon to agriculturist From the reading of the existing Model GST law it conveys that once a person is an agriculturist it is out of the definition of the

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Goods and Services Tax – GST – By: – Smitesh Desai – Dated:- 11-8-2016 Last Replied Date:- 16-8-2016 – GST is most likely to be introduced with effect from 1st April 2017. With its introduction, the following 3 major taxes will be abolished: Central Excise Duty Service Tax Value Added Tax (VAT) Supply will become the Taxable Event rather than Manufacture or Sale. GST will comprise of the following 3 elements: Central Goods & Services Tax (CGST) State Goods & Service Tax (SGST) Inter-State Goods & Services Tax (IGST) – not a different tax, really! The taxation mechanism will operate in 2 formats: Intra-State ie. Within the state Inter-State ie. Between 2 states Every transaction will attract both the taxes is CGST + SGST. The ra

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toms Duty. Input Tax Credit (ITC) will be available to an assessee, ie manufacturer or service provider having turnover beyond the exempt limit (10.00 lacs). ITC will be operated as follows: Credit of IGST, CGST & SGST will be separately availed & accounted IGST credit will be first used for payment of IGST liability IGST credit remaining in balance will be utilised for payment of CGST liability IGST credit remaining in balance will be utilised for payment of SGST liability CGST credit will be first used for payment of CGST liability Balance of CGST credit will be then be used for payment of IGST liability CGST credit cannot be used for payment of SGST liability SGST credit will be usable for payment of SGST liability ONLY. The abov

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have much say about credit management because the credit register maintained at the assessee s desktop must also be uploaded into the NSDL+RBI driven software, for computation of net GST liability. GST liability will be computed through the output register maintained by the assessee & uploaded on the RBI+NSDL software. The following chart explains the ITC & cash payment mechanism: CGST SGST IGST Opening Balance Fresh Credits Credit Available Credits Utilised Closing Balance/Cash Payment ISD mechanism remains intact. Branch transfer will attract GST. Exports will remain zero-rated. – Reply By ramniranjan kandoi – The Reply = Dear Smitesh.Read your Article GST Basics It is really short & sweet & simple to understand by a Layma

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Goods and Services Tax – GST – Enabling Provisions – TMI Updates – Highlights

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Goods and Services Tax – Started By: – ashwin kumar – Dated:- 10-8-2016 Last Replied Date:- 11-8-2016 – Dear sir, As per section 15(2)(d) of CSGT/SGST Act 2016 , any taxes duties etc are to be included in the transaction value for applying GST rate tax. Does this mean, in case of Import customs duty shall part of transaction value while applying IGST rate. If so, whether still cascading exists. thank you – Reply By Ganeshan Kalyani – The Reply = Sir, Section 15 (2)(d) of GST Act states that, 'any taxes, duties, fees and charges levied under any statute other than the SGST Act or the CGST Act or the IGST Act;' The above provision states that any taxes other than the GST (briefly) would form part of value of transaction. Customs duty

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y case it is not be understood these taxes would then be elapsed. It would be there but their name is IGST and not CVD and SAD. Thanks. – Reply By ashwin kumar – The Reply = sir, I understood what you have said, my main intention to ask this is because, the aim of GST is to avoid tax on tax, if then why again the same type of clause is introduced in new regime.thanks – Reply By Ganeshan Kalyani – The Reply = Sir, even in the proposed GST all the taxes have not been subsumed. Thus there would be another amendment on which the houses shall be debating. However on the taxes been subsumed the rate shall be hiked on calculated basis. Sir, Customs duty is levied to control imports and exports and in my view this duty shall be there for the purpos

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Goods and Services Tax – Started By: – ashwin kumar – Dated:- 10-8-2016 Last Replied Date:- 11-9-2016 – Dear sir,Whether there will be any practical training programmes for professionals before implementation of the Act. And any facilitation centers are given authorized for tax payment and return preparation schemes – Reply By Ganeshan Kalyani – The Reply = Sir, there is a clause for Facilitation Centre in the GST Law. Sir, I have not read about training clause in the GST. However department sh

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New forward looking Guidelines issued by Department of Expenditure, Ministry of Finance to improve the efficiency with which Public Funded Schemes and Projects are appraised and approved; In order to bring-in the concept of outcome evaluation to improve the delivery of public goods and services to the citizens – News and Press Release – Dated:- 10-8-2016 – In order to build a growth friendly eco-system, financial processes and systems are as important as the fund allocations. The Department of Expenditure, Ministry of Finance has issued comprehensive guidelines on 5th August, 2016 for appraisal and approval of public funded schemes and projects. With the announcement in the Union Budget, 2016-17 of doing away with Plan Non-Plan distinction

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and formats for appraisal and approval of schemes (program based costs centers for delivery of public goods and services) and projects (which involve one-time expenditure for creation of capital assets yielding financial/economic returns). The implementing Ministries have been delegated powers to appraise schemes and projects costing up to ₹ 500 crore through their Standing Finance Committee and Delegated Investment Boards respectively. Specific time frame for appraisal have been laid down for speedier decision making. The revised guidelines are forward looking and will help the Departments restructure their schemes in a framework that is independent of the Plan Non-Plan distinction. Click here to see Office Memorandum(OM) – News – P

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Minister of State for Finance and Corporate Affairs calls for Efficient Management of Resources; Indian Cost Accounts Service (ICoAS) to play a Proactive Role in assisting the execution of Projects, Schemes and Operations of Government of India and role in GST implementation ; MOS (Finance &Corporate Affairs) inaugurated the Second Indian Cost Accounts Service Day yesterday – Goods and Services Tax – GST – Dated:- 10-8-2016 – The Minister of State for Finance and Corporate Affairs Shri Arjun Ram Meghwal emphasized that Government is committed to pursue the economic reforms by implementing GST and Indian Cost Accounts Service (ICoAS) Officers can also play proactive role in its effective implementation. Shri Meghwal also stated that presence

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Shri Ashok Lavasa, Finance Secretary & Secretary (Expenditure), Government of India emphasized the need to achieve fiscal consolidation by progressively reducing expenditure on subsidies through improved targeting of beneficiaries and making available scarce funds for investment in infrastructure and development programmes. He said India has a developing challenges that are so huge and so demanding and of course there are not enough resources to address them immediately, so the optimum resources is the key. In this regard ICoAS Officers can play important role. Earlier in her welcome address, Smt Aruna Sethi, Additional Chief Adviser Cost and Head of Service said that in the ongoing global economic scenario, technological innovation, au

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nting etc. for the Government Ministries and Departments in respect of the matters referred to them. She further said that ICoAS Officers are assisting different Central Government Ministries/Departments/Organizations in solving complex Price/Cost related issues, in fixing fair prices for various services/products and rendering advice to various Ministries/Departments in cost and financial matters. She also highlighted the proactive role the ICoAS officers can play in implementation of GST. Chairman CBEC, Shri Najeeb Shah, Addl Secretary, Department of Revenue Shri B.N. Sharma and other experts from CBEC deliberated the nuances of GST during the panel discussion held at the event. Senior Officers from Ministry of Finance and other Departmen

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Goods and Services Tax – GST – By: – Monarch Bhatt – Dated:- 10-8-2016 – Yes, I call it as the most popular constitutional amendment bill in the history of India since Independence and I think so it s popularity will not be beat by any future constitutional amendment bill unless constitutional amendment bill for reservation will get announced!!! Why is this so popular even amongst the general public? Because it has been in discussion since long? or because since it is delayed? or because of the drama taking place at lower house and upper house while passing the bill? or because it is about the introduction of major indirect tax reforms in India? Likewise we all have so many questions about it. But in my view it is in discussion as this will brought major indirect tax reforms in India which will have an indirect impact on each individual. The bill was passed in the lower house i.e. Lokshabha on 06/05/2015 and after more than a year it has been passed by the upper house i.e. Rajyasabha

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andatory by its replacement with the use of words parliament shall, by law, . Hence, Centre has given the assurance to states to compensate for the loss of revenue. 1% ADDITIONAL TAX SCRAPPED: The 1% additional levy has been scrapped. The clause 18 of the bill was providing for additional 1% tax on supply of goods and services and it was supposed to be used by the Centre to pay it to the states from where supply of goods and services were originated. The clause 18 has been completely omitted as Centre has already agreed to compensate the states for the loss incurred by them due to introduction of GST. Previously this clause was specifically kept for the states like Gujarat, Maharashtra, Tamil Nadu which were mainly manufacturing states where it is not necessary that consumption will also takes place within the states and introduction of destination based GST may lead to loss of revenue to such states. Now since, loss will be compensated by Centre to every states there is no need to lev

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to say for the GST rates to be announced. Further, I have not seen any bill wherein, rates has been specified in the constitution itself as if in future to meet the requirements of expenses it is to be increased, again one need to amend the constitution. Therefore, rates will be provided in the CGST, SGST and IGST bills itself. ASSESSEE BELOW 1.5 CRORE OF TURNOVER TO BE ADJUDICATED ONLY BY STATES: It was recommended to include that small assesse having turnover below 1.5 crore, to be adjudicated only by the states. However, it has not been included as it is constitutional amendment bill. The same will be taken care by the GST council and recommended accordingly in the CGST, SGST and IGST bills itself. It is yet to be seen that what GST councils recommends for each of the aspects and how such recommendations will be actually implemented while passing CGST, SGST and IGST bills? Further, it is also to be seen that whether it will be presented as money bill or as finance bill? – Articles –

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SEZ – S.O. 2736 (E) – Dated:- 9-8-2016 – MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) NOTIFICATION New Delhi, the 9th August, 2016 S.O. 2736 (E).-Whereas, M/s. Suzlon Infrastructure Limited., a private organization in the State of Karnataka, has proposed under section 3 of the Special Economic Zones Act, 2005 (28 of 2005), (hereinafter referred to as the said Act) to set up a sector specific Special Economic Zone for High tech Engineering products and related goods and services at Nadasalu, Nandikooru, Polimaru and Hejamadi Villages in Udupi Taluk and District in the State of Karnataka; And, whereas, the Central Government, in exercise of the powers conferred by sub-section (1) of section 4 of the said Act read with rule 8 of

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9; And, whereas, the Central Government, also approved the request of change of name from M/s. Synefra Engineering and Construction Ltd to M/s Aspen Infrastructures Ltd vide letter dated 12th August, 2014; And, whereas, M/s Aspen Infrastructures Ltd SEZ has now proposed for de-notification of 102.36382 hectares at the above Special Economic Zone; And, whereas, the State Government of Karnataka has given its approval to the proposal vide letter No. I&C/VTPC/Aspen/NOC/2016-17, dated 20th May, 2016; And, whereas, the Development Commissioner, Cochin Special Economic Zone has recommended the proposal for de-notification of an area of 102.36382 hectares of the Special Economic Zone; Now, whereas, the Central Government is satisfied that the

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329 7. Nadasalu 80/1B2 0.12141 8. Nadasalu 80/2A1 0.04452 9. Nadasalu 80/2A2 0.82558 10. Nadasalu 80/2A3 0.42088 11. Nadasalu 80/2B 0.80534 12. Nadasalu 80/2C 2.31485 13. Nadasalu 82/1A2 0.08094 14. Nadasalu 82/1C 0.55038 15. Nadasalu 82/2B2 0.21854 16. Nadasalu 82/2 C2 0.01500 17. Nadasalu 82/2D 0.56354 18. Nadasalu 83/1 4.21891 19. Nadasalu 83/2 0.94360 20. Nadasalu 84 1.91502 21. Nadasalu 86/1 3.11470 22. Nadasalu 242/1 2.37960 23. Nadasalu 242/2 10.32699 24. Nadasalu 250/4A2 0.01214 25. Nadasalu 250/4B2 0.20639 26. Nadasalu 251/1A1 0.57062 27. Nadasalu 251/1A2 0.55443 28. Nadasalu 251/1B 0.70822 29. Nadasalu 251/1C 0.65156 30. Nadasalu 251/1D 1.61068 31. Nadasalu 251/2 0.15783 32. Nadasalu 251/3 0.49777 33. Nadasalu 251/4 1.57426 34. Na

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Goods and Services Tax – Started By: – Narendra Soni – Dated:- 8-8-2016 Last Replied Date:- 11-9-2016 – Dear expertsIn GST Act, procedure of disposal of Refund (excise/service tax/VAT) filed in present law is given below:-(i) The refund if allowed would accrue in cash under the earlier law, viz., and would not be credited to the electronic credit ledger or electronic cash ledger.(ii) The refund if rejected, fully or partially would lapse, no credit will be allowed.Please suggest1.The stage of rejection when the refund will be treated as 'rejected' i.e.rejected by Asst.Commir /DC or By Commr. (Appeal) or by Jt.Secretory or by HC/SC.2.What will be for refund/rebate claims pending at Commr (Appeal) or by Jt.Secretory or by HC/SC, due

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to ensure quick refund, 80% of the refund on account of exports of goods & services will be given expeditiously ,on provisional basis, while balance 20% will be refunded after due verification of documents. For the exporters, the facility of duty free imports/ procurement of inputs for exports should continue else it will lead to increasing requirement of working capital even for payment of IGST /CGST/SGST. This will hit MSME as their cost of capital is quite high, blunting their competitive edge in exports .The exemption will not lead to any loss of revenue as in any case exporters will be entitled to refund which affect their liquidity. – Reply By Ganeshan Kalyani – The Reply = Sir, 1) in my view the highest authority. 2) special team

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Section 18 – Amendment Acts – The Constitution (One Hundred and First Amendment) Act, 2016 – Constitution (One Hundred and First Amendment) Act, 2016 – Section 18 – Compensation to States for loss of revenue on account of introduction of goods and services tax. 18. Parliament shall, by law, on the recommendation of the Goods and Services Tax Council, provide for compensation to the States for loss of revenue arising on account of implementation of the goods and services tax for a period of five

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