Author: admin_gst

When tax shall become payable in GST on manufactured goods sent to a Job worker for carrying out tests or any other process not amounting to manufacture under the existing law?

Question 14 – Draft-Bills-Reports – Transitional Provisions – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 14 – Q 14. When tax shall become payable in GST on manufactured goods sent to a Job worker for carrying out tests or any other process not amounting to manufacture under the existing law? Ans. Tax will be payable in GST on manufactured goods sent to a job worker prior to the appointed day for carrying out tests or any process not amounting to manufacture under the existing law if su

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What is the time limit for issue of debit/credit note(s) for revision of prices?

Question 16 – Draft-Bills-Reports – Transitional Provisions – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 16 – Q 16. What is the time limit for issue of debit/credit note(s) for revision of prices? Ans. The taxable person may issue the debit/credit note(s) or a supplementary invoice within 30 days of the price revision. In case where the price is revised downwards the taxable person will be allowed to reduce his tax liability only if the recipient of the invoice or credit note has reduc

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Shall a manufacturer or a job worker become liable to pay tax if the inputs or semi-finished goods sent for job work under the existing law are returned after completion of job work after the appointed day?

Question 10 – Draft-Bills-Reports – Transitional Provisions – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 10 – Q 10. Shall a manufacturer or a job worker become liable to pay tax if the inputs or semi-finished goods sent for job work under the existing law are returned after completion of job work after the appointed day? Ans. No tax will be payable by the manufacturer or the job worker under the following circumstances: – (i) Inputs/ semi-finished goods are sent to the job worker in ac

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What happens if the job worker does not return the goods within the specified time?

Question 11 – Draft-Bills-Reports – Transitional Provisions – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 11 – Q 11. What happens if the job worker does not return the goods within the specified time? Ans. Tax will be payable by the job worker on the said goods if they are not returned to the place of business of the manufacturer within six months (or within the extended period of maximum two months) from the appointed day – Section 141(1), 141(2) – Statutory Provisions, Acts, Rules, Re

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Can a manufacturer transfer have finished goods sent for testing purpose to the premises of any other taxable person?

Question 12 – Draft-Bills-Reports – Transitional Provisions – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 12 – Q 12. Can a manufacturer transfer have finished goods sent for testing purpose to the premises of any other taxable person? Ans. Yes, a manufacturer can transfer finished goods sent for testing purpose to the premise of any other registered person on payment of tax in India or without payment of tax for exports within six months (or within the extended period of maximum two mon

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If finished goods removed from a factory for carrying out certain processes under existing law are returned on or after the appointed day, whether GST would be payable?

Question 13 – Draft-Bills-Reports – Transitional Provisions – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 13 – Q 13. If finished goods removed from a factory for carrying out certain processes under existing law are returned on or after the appointed day, whether GST would be payable? Ans. No tax under GST will be payable if finished goods removed from factory prior to the appointed day to any other premise for carrying out certain processes are returned to the said factory after underg

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A registered person has excess ITC of ₹ 10, 000/- in his last VAT return for the period immediately preceding the appointed day. Under GST he opts for composition scheme. Can he carry forward the aforesaid excess ITC to GST?

Question 8 – Draft-Bills-Reports – Transitional Provisions – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 8 – Q 8. A registered person has excess ITC of ₹ 10, 000/- in his last VAT return for the period immediately preceding the appointed day. Under GST he opts for composition scheme. Can he carry forward the aforesaid excess ITC to GST? Ans. The registered person will not be able to carry forward the excess ITC of VAT to GST if he opts for composition scheme – Section 140(1). – St

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Sales return under CST (i.e. Central Sales Tax Act) is allowable as deduction from the turnover within six months? If, say, goods are returned in GST regime by a buyer within six months from appointed day, will it become taxable in GST?

Question 9 – Draft-Bills-Reports – Transitional Provisions – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 9 – Q 9. Sales return under CST (i.e. Central Sales Tax Act) is allowable as deduction from the turnover within six months? If, say, goods are returned in GST regime by a buyer within six months from appointed day, will it become taxable in GST? Ans. Where tax has been paid under the existing law [CST, in this case] on any goods at the time of sale, not being earlier than six months

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Give two examples of registered taxable persons who are not liable to be registered under the existing law (Central Excise / VAT) but are required to be registered under GST?

Question 6 – Draft-Bills-Reports – Transitional Provisions – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 6 – Q 6. Give two examples of registered taxable persons who are not liable to be registered under the existing law (Central Excise / VAT) but are required to be registered under GST? Ans. A manufacturer having a turnover of say ₹ 60 lakh who is enjoying SSI exemption under the existing law will have to be registered under GST as the said turnover exceeds the basic threshold of

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Assuming the registered person has wrongly enjoyed the credit (Refer to Q4) under the existing law, will the recovery be done under the GST Law or the existing law?

Question 5 – Draft-Bills-Reports – Transitional Provisions – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 5 – Q 5. Assuming the registered person has wrongly enjoyed the credit (Refer to Q4) u

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A registered person, say, purchases capital goods under the existing law (Central Excise) in the June quarter of 2017-18. Though the invoice has been received within 30th June but the capital goods are received on 5th July, 2017 (i.e. in GST reg

A registered person, say, purchases capital goods under the existing law (Central Excise) in the June quarter of 2017-18. Though the invoice has been received within 30th June but the capital goods are received on 5th July, 2017 (i.e. in GST regime). Will such a person get full credit of CENVAT in GST regime? – Question 3 – Draft-Bills-Reports – Transitional Provisions – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 3 – Q 3. A registered person, say, purchases capital goods under the exist

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VAT credit was not available on items 'X' & 'Y' as capital goods in the existing law (Central Excise). Since they are covered in GST, can the registered taxable person claim it now?

VAT credit was not available on items X & Y as capital goods in the existing law (Central Excise). Since they are covered in GST, can the registered taxable person claim it now? – Question 4 – Draft-Bills-Reports – Transitional Provisions – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 4 – Q 4. VAT credit was not available on items 'X' & 'Y' as capital goods in the existing law (Central Excise). Since they are covered in GST, can the registered taxable person claim it n

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What are those conditions?

Question 2 – Draft-Bills-Reports – Transitional Provisions – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 2 – Q 2. What are those conditions? Ans. The conditions are that: – (i) the said amount of credit is admissible as input tax credit under this Act; (ii) the registered person has furnished all the returns required under the existing law (i.e. Central Excise and VAT) for the period of six months immediately preceding the appointed date; (iii) the said amount of credit does not relate

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Will CENVAT credit (or VAT credit) carried forward in the last return prior to GST under existing law be available as ITC under GST?

Question 1 – Draft-Bills-Reports – Transitional Provisions – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 1 – 24. Transitional Provisions Q 1. Will CENVAT credit (or VAT credit) carried forward in the last return prior to GST under existing law be available as ITC under GST? Ans. A registered person, other than a person opting to pay tax under composition scheme, shall be entitled to take credit in his electronic credit ledger the amount of CENVAT (or VAT credit) credit carried forward i

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Will existing taxpayers under Central Excise or Service Tax or State VAT have to apply for fresh registration under GST?

Question 22 – Draft-Bills-Reports – GSTN and Frontend Business Process on GST Portal – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 22 – Q 22. Will existing taxpayers under Central Excise or Service Tax or State VAT have to apply for fresh registration under GST? Ans. No, the existing taxpayers under taxes which are to be subsumed under GST and whose PAN have been validated from CBDT database will not be required to apply afresh. They will be issued provisional GSTIN by GST portal, which

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What material will be provided by GSTN, on various aspects of working on GST portal, for the benefit of taxpayers?

Question 23 – Draft-Bills-Reports – GSTN and Frontend Business Process on GST Portal – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 23 – Q 23. What material will be provided by GSTN, on various aspects of working on GST portal, for the benefit of taxpayers? Ans. GSTN is preparing Computer Based Training materials (CBT s) which have videos embedded into them for each process to be performed on the GST portal. These will be put on the GST portal as well as on the website of all tax authori

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Will the return and registration data furnished by the taxpayers on the GST Common Portal will remain Confidential?

Question 24 – Draft-Bills-Reports – GSTN and Frontend Business Process on GST Portal – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 24 – Q 24. Will the return and registration data furnished by the taxpayers on the GST Common Portal will remain Confidential? Ans. Yes, all steps are being taken by GSTN to ensure the confidentiality of personal and business information furnished by the taxpayers on GST Common Portal. This will be done by ensuring Role Based Access Control (RBAC) and encryp

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What are the security measures being taken by GSTN to ensure security of the GST system?

Question 25 – Draft-Bills-Reports – GSTN and Frontend Business Process on GST Portal – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 25 – Q 25. What are the security measures being taken by GSTN to ensure security of the GST system? Ans. GST Systems project has incorporated state of art security framework for data and service security. Besides high end firewalls, intrusion detection, data encryption at rest as well as in motion, complete audit trail, tamper proofing using consistent hashi

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Will GSTN provide tools for uploading invoice data on GST portal?

Question 18 – Draft-Bills-Reports – GSTN and Frontend Business Process on GST Portal – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 18 – Q 18. Will GSTN provide tools for uploading invoice data on GST portal? Ans. Yes, GSTN will provide spreadsheet like tools (such as Microsoft Excel), free of cost, to taxpayers to enable them to compile invoice data in the same and generate files which can then be uploaded on GST portal. This will be an offline tool which can be used to input/capture in

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Will GSTN be providing mobile based Apps to view ledgers and other accounts?

Question 19 – Draft-Bills-Reports – GSTN and Frontend Business Process on GST Portal – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 19 – Q 19. Will GSTN be providing mobile based Apps to view ledgers and other accounts? Ans. The GST portal is being designed in such a way that it can be seen on any smart phone. Thus ledgers like cash ledger, liability ledger, ITC ledger etc. can be seen on a mobile phone using compatible browsers. – Statutory Provisions, Acts, Rules, Regulations, Taxation

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Will GSTN provide separate user ID and password for GST Practitioner to enable them to work on behalf of their customers (Taxpayers) without requiring user ID and password of taxpayers, as happens today?

Question 20 – Draft-Bills-Reports – GSTN and Frontend Business Process on GST Portal – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 20 – Q 20. Will GSTN provide separate user ID and password for GST Practitioner to enable them to work on behalf of their customers (Taxpayers) without requiring user ID and password of taxpayers, as happens today? Ans. Yes, GSTN will be providing separate user ID and Password to GST Practitioner to enable them to work on behalf of their clients without aski

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