THE INTEGRATED GOODS AND SERVICES TAX BILL, 2017. – Goods and Services Tax – GST – Dated:- 27-3-2017 – THE INTEGRATED GOODS AND SERVICES TAX BILL, 2017. GST bills – Clause by Clause – News – Press release
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Goods and Services Tax – GST – Dated:- 27-3-2017 – THE GOODS AND SERVICES TAX (COMPENSATION TO STATES) THE GOODS AND SERVICES TAX (COMPENSATION TO STATES) BILL, 2017 A BILL to provide for compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax in pursuance of the provisions of the Constitution (One Hundred and First Amendment) Act, 2016. BE it enacted by Parliament in the Sixty-eighth Year of the Republic of India as follows:- Short title, extent and commencement. (1) This Act may be called the Goods and Services Tax (Compensation to States) Act, 2017. (2) It extends to the whole of India. (3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint. Definitions. 2. (1) In this Act, unless the context otherwise requires,- (a) central tax means the central goods and services tax levied and collected under the Central Goods and Services Tax Act; (b) Central Goods an
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s of the Council, under this Act; (k) projected growth rate means the rate of growth projected for the transition period as per section 3; (l) Schedule means the Schedule appended to this Act; (m) State means,- (i) for the purposes of sections 3, 4, 5, 6 and 7 the States as defined under the Central Goods and Services Tax Act; and (ii) for the purposes of sections 8, 9, 10, 11, 12, 13 and 14 the States as defined under the Central Goods and Services Tax Act and the Union territories as defined under the Union Territories Goods and Services Tax Act; (n) State tax means the State goods and services tax levied and collected under the respective State Goods and Services Tax Act; (o) State Goods and Services Tax Act means the law to be made by the State Legislature for levy and collection of tax by the concerned State on supply of goods or services or both; (p) taxable supply means a supply of goods or services or both which is chargeable to the cess under this Act; (q) transition date shal
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(5) and (6), the base year revenue for a State shall be the sum of the revenue collected by the State and the local bodies during the base year, on account of the taxes levied by the respective State or Union and net of refunds, with respect to the following taxes, imposed by the respective State or Union, which are subsumed into goods and services tax, namely:- (a) the value added tax, sales tax, purchase tax, tax collected on works contract, or any other tax levied by the concerned State under the erstwhile entry 54 of List-II (State List) of the Seventh Schedule to the Constitution; (b) the central sales tax levied under the Central Sales Tax Act, 1956 (74 of 1956.); (c) the entry tax, octroi, local body tax or any other tax levied by the concerned State under the erstwhile entry 52 of List-II (State List) of the Seventh Schedule to the Constitution; (d) the taxes on luxuries, including taxes on entertainments, amusements, betting and gambling or any other tax levied by the concern
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amely:- (a) any taxes levied under any Act enacted under the erstwhile entry 54 of List-II (State List) of the Seventh Schedule to the Constitution, prior to the coming into force of the provisions of the Constitution (One Hundred and First Amendment) Act, 2016, on the sale or purchase of petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas, aviation turbine fuel and alcoholic liquor for human consumption; (b) tax levied under the Central Sales Tax Act, 1956, (74 of 1956.) on the sale or purchase of petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas, aviation turbine fuel and alcoholic liquor for human consumption; (c) any cess imposed by the State Government on the sale or purchase of petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas, aviation turbine fuel and alcoholic liquor for human consumption; and (d) the entertainment tax levied by the State but collected by local bo
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tax shall be such as may be notified. (5) The base year revenue shall be calculated as per sub-sections (1), (2), (3) and (4) on the basis of the figures of revenue collected and net of refunds given in that year, as audited by the Comptroller and Auditor-General of India. (6) In respect of any State, if any part of revenues mentioned in sub-sections (1), (2), (3) and (4) are not credited in the Consolidated Fund of the respective State, the same shall be included in the total base year revenue of the State, subject to such conditions as may be prescribed. Projected revenue for any year 6. The projected revenue for any year in a State shall be calculated by applying the projected growth rate over the base year revenue of that State. Illustration-If the base year revenue for 2015-16 for a concerned State, calculated as per section 5 is one hundred rupees, then the projected revenue for financial year 2018-19 shall be as follows- Projected Revenue for 2018-19-100 (1+14/100)3 Calculation
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State in the absence of the goods and services tax, shall be calculated as per section 6; (b) the actual revenue collected by a State in any financial year during the transition period shall be- (i) the actual revenue from State tax collected by the State, net of refunds given by the said State under Chapters XI and XX of the State Goods and Services Tax Act; (ii) the integrated goods and services tax apportioned to that State; and (iii) any collection of taxes on account of the taxes levied by the respective State under the Acts specified in sub-section (4) of section 5, net of refunds of such taxes, as certified by the Comptroller and Auditor-General of India; (c) the total compensation payable in any financial year shall be the difference between the projected revenue for any financial year and the actual revenue collected by a State referred to in clause (b). (4) The loss of revenue at the end of every two months period in any year for a State during the transition period shall be
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he State Goods and Services Tax Act; (ii) the integrated goods and services tax apportioned to that State, as certified by the Principal Chief Controller of Accounts of the Central Board of Excise and Customs; and (iii) any collection of taxes levied by the said State, under the Acts specified in sub-section (4) of section 5, net of refund of such taxes; (c) the provisional compensation payable to any State at the end of the relevant two month period in any financial year shall be the difference between the projected revenue till the end of the relevant period in accordance with clause (a) and the actual revenue collected by a State in the said period as referred to in clause (b), reduced by the provisional compensation paid to a State till the end of the previous two months period in the said financial year during the transition period. (5) In case of any difference between the final compensation amount payable to a State calculated in accordance with the provisions of sub-section (3)
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such manner as may be prescribed, on the recommendations of the Council, for the purposes of providing compensation to the States for loss of revenue arising on account of implementation of the goods and services tax with effect from the date from which the provisions of the Central Goods and Services Tax Act is brought into force, for a period of five years or for such period as may be prescribed on the recommendations of the Council: Provided that no such cess shall be leviable on supplies made by a taxable person who has decided to opt for composition levy under section 10 of the Central Goods and Services Tax Act. (2) The cess shall be levied on such supplies of goods and services as are specified in column (2) of the Schedule, on the basis of value, quantity or on such basis at such rate not exceeding the rate set forth in the corresponding entry in column (4) of the Schedule, as the Central Government may, on the recommendations of the Council, by notification in the Official Gaz
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apply for refunds of such cess paid in such form, as may be prescribed. (2) For all purposes of furnishing of returns and claiming refunds, except for the form to be filed, the provisions of the Central Goods and Services Tax Act and the rules made thereunder, shall, as far as may be, apply in relation to the levy and collection of the cess leviable under section 8 on all taxable supplies of goods or services or both, as they apply in relation to the levy and collection of central tax on such supplies under the said Act or the rules made thereunder. Crediting proceeds of cess to Fund 10. (1) The proceeds of the cess leviable under section 8 and such other amounts as may be recommended by the Council, shall be credited to a non-lapsable Fund known as the Goods and Services Tax Compensation Fund, which shall form part of the public account of India and shall be utilised for purposes specified in the said section. (2) All amounts payable to the States under section 7 shall be paid out of
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g to cess. 11. (1) The provisions of the Central Goods and Services Tax Act, and the rules made thereunder, including those relating to assessment, input tax credit, non-levy, short-levy, interest, appeals, offences and penalties, shall, as far as may be, mutatis mutandis, apply, in relation to the levy and collection of the cess leviable under section 8 on the intra-State supply of goods and services, as they apply in relation to the levy and collection of central tax on such intra-State supplies under the said Act or the rules made thereunder. (2) The provisions of the Integrated Goods and Services Tax Act, and the rules made thereunder, including those relating to assessment, input tax credit, non-levy, short-levy, interest, appeals, offences and penalties, shall, mutatis mutandis, apply in relation to the levy and collection of the cess leviable under section 8 on the inter State supply of goods and services, as they apply in relation to the levy and collection of integrated tax on
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e total base year revenue of the State, under sub-section (6) of section 5; (c) the manner of refund of compensation by the States to the Central Government under sub-section (6) of section 7; (d) the manner of levy and collection of cess and the period of its imposition under sub-section (1) of section 8; (e) the manner and forms for payment of cess, furnishing of returns and refund of cess under sub-section (1) of section 9; and (f) any other matter which is to be, or may be, prescribed, or in respect of which provision is to be made, by rules. Laying of rules before Parliament. 13. Every rule made under this Act by the Central Government shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or successive sessions aforesaid, both Houses agree in ma
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le, reference to a tariff item , heading , sub-heading and Chapter , wherever they occur, shall mean respectively a tariff item, heading, sub-heading and Chapter in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975). 2. The rules for the interpretation of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), the section and Chapter Notes and the General Explanatory Notes of the First Schedule shall, so far as may be, apply to the interpretation of this Schedule. S.No. Description of supply of goods or services Tariff item, heading, sub-heading, Chapter, or supply of goods or services, as the case may be The maximum rate at which goods and services tax compansation cess may be collected (1) (2) (3) (4) 1. Pan Masala. 2106 90 20 One hundred and thirty-five per cent. ad valorem. 2. Tobacco and manufactured tobacco substitutes, including tobacco products. 24 Four thousand one hundred and seventy rupees per thousand sticks or two hundred and ninety per cent. ad valor
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s tax for a period of five years in accordance with the provisions of section 18 of the Constitution (One Hundred and First Amendment) Act, 2016. 2. The Constitution (One Hundred and First Amendment) Act, 2016, has amended the Constitution to facilitate the introduction of goods and services tax in the Country. The amendments made in the Constitution confer simultaneous powers upon Parliament and the State Legislatures to make laws for levy of goods and services tax on the supplies of goods or services or both. Section 18 of the Constitution (One Hundred and First Amendment) Act, 2016, provides that, Parliament shall, by law, on the recommendations 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 years. . 3. The Goods and Services Tax (Compensation to States) Bill, 2017, inter alia, provides for the following, namely:- (a) to provide that the financia
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e base year 2015-16; (f) the revenues of States that were not credited to the Consolidated Fund of the States but were directly devolved to mandi or municipalities would also be included in the definition of 'revenue subsumed' if these were collected under the authority of entries 52, 54, 55 and 62 of List II of Seventh Schedule of the Constitution and were subsumed in the goods and services tax; (g) to generate resources to compensate States for five years for any loss of revenue suffered by them on account of implementation of goods and services tax, a cess shall be levied on such goods, as recommended by the Goods and Services Tax Council, over and above the goods and services tax on that item; (h) the proceeds of the goods and services tax compensation cess shall be credited to a non-lapsable Fund known as the Goods and Services Tax Compensation Fund in the Public Account and all amounts payable to the States as goods and services tax compensation shall be paid from the Goo
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nown as the Goods and Services Tax Compensation Fund, which shall form part of the public account of India and shall be utilised for purposes specified in the clause 8 of the Bill. Sub-clause (3) of clause 10 of the Bill seeks to provide that fifty per cent. of the amount remaining unutilised in the goods and services tax compensation fund at the end of the transition period shall be transferred to the Consolidated Fund of India as the share of Centre, and the balance fifty per cent. shall be distributed amongst the States and the Union territories in the ratio of their total revenues from the State goods and services tax or the Union territory goods and services tax, as the case may be, in the last year of the transition period. 2. Since the central goods and services tax rate shall be arrived at so as to protect the present revenues of the Central Government from the indirect taxes being subsumed under goods and services tax, the Union Government would need additional source of reven
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e 5 empowers the Central Government to prescribe the conditions subject to which, any part of revenues not credited in the Consolidated Fund of a State shall be included in the total base year revenue of the concerned State. 2. Clause 7 of the Bill seeks to provide the detailed procedure for calculating and releasing the goods and services tax compensation amount to a State. Sub-clause (6) of clause 7 empowers the Central Government to prescribe the manner of refund of compensation by a State to the Central Government, in case excess goods and services tax compensation is paid to the said State by the Central Government. 3. Clause 8 of the Bill seeks to levy a goods and services tax compensation cess on certain supplies of goods and services. Sub-clause (1) of clause 8 empowers the Central Government to notify the manner of levy and collection of the cess and the period of its imposition. 4. Clause 9 of the Bill seeks to provide that every taxable person shall pay the cess, furnish ret
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THE CENTRAL GOODS AND SERVICES TAX BILL, 2017. – Goods and Services Tax – GST – Dated:- 27-3-2017 – THE CENTRAL GOODS AND SERVICES TAX BILL, 2017 GST bills – Clause by Clause – News – Press release
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Goods and Services Tax – GST – Dated:- 27-3-2017 – PDF Files Clause by Clause THE CENTRAL GOODS AND SERVICES TAX BILL, 2017 CGST Bill, 2017 (Clause by Clause) THE INTEGRATED GOODS AND SERVICES TAX BILL, 2017 IGST Bill, 2017 (Clause by Clause) THE UNION TERRITORY GOODS AND SERVICES TAX BILL, 2017 UT GST Bill, 2017 (Clause by Clause) THE GOODS AND SERVICES TAX (COMPENSATION TO STATES) GST (Compensation to States) New Delhi, Mar 27 (PTI) Four bills aimed at rolling out the much-awaited Goods and Services Tax (GST) and usher in landmark tax reforms in the country were tabled in the Lok Sabha today. The Opposition objecting to it saying the introduction of these measures was not listed in today's agenda for the House. Finance Minister Arun
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ty and service tax as well as state levies like VAT. The GST Council has already approved four-tier tax slabs of 5, 12, 18 and 28 per cent plus an additional cess on demerit goods like luxury cars, aerated drinks and tobacco products. The work on for putting various goods and services in the different slabs is slated to begin next month. The introduction of the Bills by Jaitley was objected to by a number of Opposition MPs for the manner in which this was being done, saying they were not given enough time to study the proposed legislation. Raising his objection, Congress member K C Venugopal said the introduction of these bills was not listed in today's agenda and asserted that parliamentary procedures must be followed while dealing wit
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Goods and Services Tax – Started By: – N Balachandran – Dated:- 27-3-2017 Last Replied Date:- 28-9-2017 – Dear sir,We are executing the various Water supply projects in different state in India. At Present, the Water supply projects is exempted from payment of Service tax . Will the exemption still continue in GST regime? Can we have a single Registration and do the projects all over India? or we need to take GST registration in all the states where we are executing the Projects?. – Reply By KASTURI SETHI – The Reply = Exemption is likely to continue in GST. No concept of single Registration in GST. If exemption continues, no need of registration at all. – Reply By Himansu Sha – The Reply = please wait some more days – Reply By N Balachand
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nsaction would be Interstate transaction attraction IGST. In that case no need to take registration in all states.Single centralised registration provision is done away in GST. – Reply By Govind Gupta – The Reply = Dear Kalyani Sir, on registration few more clarifications required, suppose if we have AMC business where our engineers go and service the machines, do we have to take registations in each state where we have our customer's site locations, assuming i have our registered place in Delhi and my client's registered place is also in delhi and PO is placed by our customer from Delhi office to our office in Delhi but the services need to be provided on 5 sites which are situated in 5 different states, now below questionswhat wil
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Goods and Services Tax – GST – By: – esha agrawal – Dated:- 26-3-2017 – The Union Cabinet has cleared four bills related to the Goods and Services Tax (GST), ahead of their introduction in Parliament, to enable roll out of the tax reform from July 1. Approval of the bills by Parliament and a separate one by all state Assemblies will complete the legislative process for roll out of the GST, the one-nation-one-tax system that merges central taxes like excise duty and service tax and state levies like VAT. What is GST bill? Goods and Services Tax bill is India s biggest reform in India s indirect tax structure. The purpose of the bill is to introduce one single tax on supply of goods and services, from the manufacturing stage until its delive
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40 percent after the GST Council proposed raising the peak rate in the Bill to 20 percent, from the current 14 percent, to obviate the need for approaching Parliament for any change in rates in future. The change in the peak rate will not alter the 4-slab rate structure of 5, 12, 18 and 28 percent agreed upon last year for the moment, In addition, a cess will be levied on demerit goods like luxury cars, aerated drinks and tobacco products. The CGST Bill sets the tax regime for the levy of GST on intra-state supply of goods or services or both by the central government. IGST Bill deals levy of GST on inter-state supply of goods or services or both by the central government. Similarly, the UTGST Bill provides for levy of GST on intra-UT suppl
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Goods and Services Tax – GST – By: – Sanjeev Singhal – Dated:- 26-3-2017 Last Replied Date:- 3-4-2017 – Under the Central Excise and Service Tax laws, there is no requirement for audit of accounts and furnishing reconciliation statement by an accountant except special audit. However, several State VAT laws stipulate audit of records by a Chartered Accountant and filing of VAT audit reports. Threshold limits are prescribed for such audits. Reconciliations between the tax records and audited statements of accounts are generally sought for at the time of assessment, audit or investigation by the Revenue authorities. There is no statutory requirement to furnish such reconciliation statements under the present laws. In India, the tax compliance
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ompleted within three months from the date of commencement. For any reason if the commissioner is satisfy that audit can not be completed with in three months , for reason to be recorded in writing , may extended it for further period of six months. Commencement date of audit for the above sub section shall be , the date of record and other document called and submitted by RTP or Start of audit at RTP office which ever is later. Within 30 days from the conclusion of audit, the proper officer will inform the RTP of audit finding and reason of the same. Where the audit result in detection of tax not paid, short paid or erroneously refunded or ITC wrongly claimed or utilized , the officer may start action under section 66 or 67 i.e. under chap
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expenses and fees of audit shall be determined and paid by commissioner. Where the special audit result in detection of tax not paid, short paid or erroneously refunded or ITC wrongly claimed or utilized , the officer may start action under section 66 or 67 i.e. under chapter Demand and Recovery. POWER OF CAG FOR AUDIT The proper officer shall, upon request made in this behalf, make available to the comptroller of Auditor General of India any information , record and return under the act for conduct of audit as required. Author is practicing chartered accountant in Gurgaon and having specialization in Service Tax and Haryana VAT. He can be reached at sanjeev.singhal@skaca.in. WWW. skaca.in – Reply By KASTURI SETHI – The Reply = Thanks for
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Goods and Services Tax – GST – By: – Ganeshan Kalyani – Dated:- 26-3-2017 Last Replied Date:- 1-4-2017 – The Goods and Service Tax (GST) is expected to be implemented from July 1, 2017. In view of the same, the Central Board of Excise and Customs (CBEC) have initiated steps to ensure that all the existing taxpayers are migrated to Goods and Service Tax Network (GSTN). A provision for migration of existing taxpayers to GST is provided in the draft Model Goods and Services Tax Law. The FAQs to clear query of the taxpayer pertaining to enrollment is published by GSTN in their website www.gst.gov.in. The taxpayers who are currently registered with any State or Central laws like Value Added Tax, Central Sales Tax, Central Excise, Service Tax etc. need to enroll themselves under GST. Enrollment under GST means validating the data and filling up the remaining key fields in the Enrollment Application at the GST Common Portal. The registered taxpayer will be receiving login ID and password fro
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d under State Act. However, the window is still open to ease taxpayers to do the enrollment process. A user manual on using the GST Common Portal is made available in GSTN. A video based tutorial explaining the process of filling up the enrollment form, registering digital signature certificate, uploading documents etc. is made available in the GSTN portal. Additionally, a mobile based application for GST enrollment is also made available by GSTN in their website. The status of enrollment of taxpayers is published in GSTN website. As per the status of enrollment as on 24.03.2017, Karnataka State is ahead with 92.43% of their taxpayers being enrolled. Maharashtra State is second with 86.57%. Gujarat State has completed enrollment of 86.44% of the total taxpayers in the State. From the enrollment status as on the aforesaid date, it is seen that most of the States have completed the enrollment process of more than 50% of the taxpayers in their respective States. The enrollment process is
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be reached at 1800-1200-232 and query related to GST enrollment can be emailed to cbecmitra.helpdesk@icegate.gov.in. The GSTN has also flashed their Help Desk number as 0124-4688999 and email id – helpdesk@gstn.gov.in in their website. Once GST is implemented, the registered taxpayers under current laws with valid PAN and those having completed the enrollment process shall be issued a certificate of registration on a provisional basis in such form and manner as may be prescribed on the appointed day. The certificate of registration so issued shall be valid for a period of six month from the date of its issue. Every taxpayer to whom a certificate of registration has been issued shall furnish such information as may be prescribed and upon furnishing the same the certificate of registration shall be furnished on a final basis by the Central/State Government. Though the taxpayers are encouraged to enroll into GST by conducting seminars, training, advertisements etc. some States are yet to
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Constitution of GST Working Groups to address concerns of the Trade and Industry – Goods and Services Tax – GST – Dated:- 25-3-2017 News – Press release
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FM approves the re-organisation of the field formations of the Central Board of Excise & Customs (CBEC) for the implementation of Goods & Services Tax (GST); CBEC is being renamed as the Central Board of Indirect Taxes & Customs (CBIC), after getting legislative approval – Goods and Services Tax – GST – Dated:- 25-3-2017 – Reorganisation of the field formations of the Central Board of Excise & Customs (CBEC) for the implementation of Goods & Services Tax (GST) has been approved by the Union Finance Minister, Shri Arun Jaitley. The existing formations of Central Excise & Service Tax under the CBEC have been re-organised to implement and enforce the provisions of the proposed Goods & Services Tax Laws. The Central Board of Exc
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of Systems under CBEC is being strengthened. The Directorate General Tax Payer Services is being expanded for greater out- reach for facilitating smooth transition for the taxpayers to the GST environment. The existing training establishment, to be renamed as National Academy of Customs, Indirect Taxes and Narcotics will have an all India presence, to enable capacity building to the employees of the indirect tax administration of the Centre as well as of the State Governments and to members of Trade and Industry. The renamed Directorate General of Goods & Service Tax Intelligence is also being strengthened and expanded to become an important wing of the Government in its fight against Tax Evasion and Black Money. – News – Press release
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Goods and Services Tax – GST – Dated:- 25-3-2017 – New Delhi, Mar 24 (PTI) The government is likely to table the four legislations for implementation of the goods and services tax in the Lok Sabha on Monday. The Union Cabinet already cleared the four supplementary GST legislations – CGST, IGST, UTGST and Compensation Law – for introduction and passage in the ongoing session of Parliament. Besides, the Cabinet has approved amendments in the Customs and Excise Act relating to abolition of cesses
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Goods and Services Tax – GST – Dated:- 24-3-2017 – Pending introduction of GST in the Country, Union Cabinet in its meeting held on 17.03.2015, decided for payment of 100% CST compensation to the States/UTs for year 2010-11, 75% CST compensation for year 2011-12 and 50% CST Compensation for year 2012-13 to be worked out as per guideline dated 22.08.2008. Accordingly, full CST compensation for year 2010-11 and 2011-12 has been released to the States during FY 2014-15 & 2015-16. ₹ 11709
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Goods and Services Tax – GST – Dated:- 24-3-2017 – New Delhi, Mar 23 (PTI) – Finance Minister Arun Jaitley today said supporting legislations for implementation of goods and services tax will be introduced in Parliament next week. The finance minister maintained that GST is likely to be rolled out from July 1. Jaitley said there is long procedure before the Bills are introduced in Parliament and the GST Council cleared those four bills only last week. All that exercise has been completed in the last 2-3 days… Next week, it should be introduced in Parliament and then taken up for consideration, he said at an award function of CNBC TV18. Jaitley further said nine different regulations have to be framed for GST. Four have already been appro
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Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 24-3-2017 Last Replied Date:- 1-1-2018 – Section17 of The Integrated Goods and Services Tax Act, 2016 provides that the provisions relating to registration, valuation, time of supply of goods, time of supply of services, change in rate of tax in respect of supply of goods or services, input tax credit and utilization thereof, distribution of input tax credit by an Input Service Distributor, job work, accounts and records, payment, tax deduction at source, return, tax collection at source, audit, assessment, adjudication, demands, refunds, interest, recovery of tax, offences and penalties, inspection, search and seizure, prosecution and power to arrest, appeals, review, advance ruling and compounding shall apply, so far as may be, in relation to the levy of tax under this Act as they apply in relation to levy of tax under the CGST Act,2016. The applicable rules topic wise is discussed as below: Registration Chapter VI o
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on which the supplier receives the payment with respect to the supply. Time of supply of services Section 13 of the Act deals with the time of supply of services. Section 13(2) provides that the time of supply of services shall be the earlier of the following dates, namely,- the date of issue of invoice by the supplier or the last date on which he is required, under Section 28 to issue the invoice with respect to the supply; or the date on which the supplier receives the payment with respect to the supply. Change in rate of tax in respect of supply of goods or services Notwithstanding anything contained in Section 12 or Section 13, the time of supply, in cases where there is a change in the rate of tax in respect of goods or services, shall be determined as per the provisions contained in Section 14 of the Act. Input tax credit and utilization Chapter V of the Act deals with input tax credit, input tax credit in respect of inputs sent for job work, input service distributor. The follo
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re the sections dealing with the payment of tax- Section 44 – Payment of tax, interest, penalty and other amounts; Section 45 – Interest on delayed payment of tax; Tax Deduction at source Section 46 of the Act deals with tax deduction at source. The said section provides that the Central or a State Government may mandate a department or establishment of the Central or State Government or local authority or Governmental agencies or such persons or category of persons as may be notified by the Central or the State Government on the recommendations of the GST Council. The proviso to Section 17 of the IGST Act provides that in the case of tax deduction at source, the deductor shall deduct tax at the rate of 2% from the payment made or credited to the supplier. Return Chapter VIII of the Act deals with filing of various types of returns. The following are the sections dealing with filing of GST returns- Section 32 – Furnishing details of outward supplies; Section 33 – Furnishing details of
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Act deals with the assessment types and procedures. The following are the sections dealing with the assessment- Section 57 – Self assessment; Section 58 – Provisional assessment; Section 59 – Scrutiny of returns; Section 60 – Assessment of non filers of returns; Section 61 – Assessment of unregistered persons; Section 62 – Summary assessment in certain special cases. Adjudication, demand and recovery of tax Chapter XVII of the Act deals with the above. The following are the sections dealing with adjudication, demand and recovery of tax- Section 66 – Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilized for any reason other than fraud or any willful misstatement or suppression of facts; Section 67 – Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilized by reason of fraud or any willful misstatement or suppression of facts; Section 68 – General provisions relating t
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with offences and penalties. The following sections deal with offences and penalties- Section 85 – Offences and penalties; Section 86 – General penalty; Section 87 – General disciplines related to penalty; Section 88 – Power to impose penalty in certain cases; Section 89 – Detention, seizure and release of goods and conveyances in transit; Section 90 – Confiscation of goods and/or conveyances and levy of penalty; Section 91 – Confiscation of penalty not to interfere with other punishments. Inspection, search, seizure and arrest Chapter XVIII of the Act deals with the powers given to GST officers for inspection, search and seizure. The following sections deal with inspection, search, seizure and arrest- Section 79 – Power of inspection, search and seizure; Section 80 – Inspection of goods in movement; Section 81 – Power to arrest; Section 82 – Power to summon persons to give evidence and produce documents; Section 83 – Access to business premises; Section 84 – Officers required assisti
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on 105 – Appearance by authorized representative; Section 106 – Appeal to the High Court; Section 107 – Appeal to the Supreme Court; Section 108 – Hearing before Supreme Court; Section 109 – Sums due to be paid notwithstanding appeal etc., Section 110 – Exclusion of time taken for copy; Section 111 – Appeal not to be filed in certain cases; Section 112 – Non appealable decisions and orders. Advance Ruling Chapter XXII of the Act deals with advance ruling. The following are the sections dealing with advance ruling- Section 113 – Definitions; Section 114 – Authority of Advance Rulings; Section 115 – Appellate Authority for Advance Rulings; Section 116 – Application of advance ruling; Section 117 – Procedure on receipt of application; Section 118 – Appeal to the Appellate Authority; Section 119 – Orders of the Appellate Authority; Section 120 – Rectification of Advance Ruling; Section 121 – Applicability of Advance Ruling; Section 122 – Advance ruling to be void in certain circumstances;
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Goods and Services Tax – GST – Dated:- 23-3-2017 – New Delhi, Mar 23 (PTI) The government may table four GST supplementary legislations in Parliament today, a union minister said. We can do it today as well. A meeting on GST will be chaired by Finance Minister Arun Jaitley today, Minister of State for Finance Arjun Ram Meghwal said when asked about tabling of the four GST bills in the Lok Sabha. He was speaking to reporters on the sidelines of an infrastructure event here. The Cabinet on Monday
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Goods and Services Tax – GST – By: – Dr. Sanjiv Agarwal – Dated:- 23-3-2017 Last Replied Date:- 3-4-2017 – The revised model GST law on GST (version-II) defines agriculture and agriculturist. The agriculture is out of scope of GST and agriculturist is not a taxable person. Agriculture [Section 2(7)] As per section 2(7) of the revised Model GST law, 'agriculture' means all its grammatical variations and cognate expressions, includes floriculture, horticulture, the raising of crops, grass or garden produce and also grazing, but does not include dairy farming, poultry farming, stock breeding, the mere cutting of wood or grass, gathering of fruit, raising of man-made forest or rearing of seedlings or plants. Therefore, agriculture would include: all its grammatical variations all its cognate expressions, floriculture, (cultivation of ornamental flowers) horticulture, (cultivation of garden) sericulture, (rearing of silk worms) the raising of crops, grass or garden produce, and gra
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6 (12) TMI 390 – Supreme Court of India , para 4] [Forest Conservation Act (69 of 1980), S.2(i)]. The terms forest is to be understood in the dictionary sense and also that any area regarded as a forest in the Government records, irrespective of ownership would be forest. [M.C. Mehta v. Union of India (2004) 12 SCC 118, 181, para 82] 'Forest means such large areas where agricultural is not done and which is covered by trees and shrubs. Land having an average number of 200 trees per hectare ought to be treated as 'forest'. [ T.N. Godavarman Thirumulpad (98) v. Union of India, (2006) 5 SCC 28, 32, para 3] The Indian Forest Act, 1927 covers all categories of forests and extends to whole of territories specified in First Schedule of the Constitution. Agriculturist [Section 2(8)] As per section 2(8) of the revised Model GST law, 'agriculturist' means a person who cultivates land personally, for the purpose of agriculture. One who is engaged in agriculture is called agric
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d personally, if it is cultivated by any member of such family. This expression has been used in the definition of 'agriculturist' and a person will be considered as an 'agriculturist' only when a person cultivates land personally. To cultivate personally would imply carrying on agricultural operations on his own account by employing own labour, family's labour or hired labour under own supervision or of his family. In case of HUF, it could be done by any member of HUF. The explanation clarifies that cultivation can be treated as being cultivated personally if it is done by servants or by hired labour in case of widow, minor, physically or mentally disabled persons or serving members of armed forces of Union. Where persons who do not cultivate personally by employing a labour but do so by awarding contract of cultivation on sharing basis, which is generally called 'Batai', such batai work other than under employment contract will not be covered under the sco
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Goods and Services Tax – GST – By: – Vatsalya Bhardwaj – Dated:- 23-3-2017 Last Replied Date:- 23-3-2017 – As per the present Service-tax law, all educational institutions are exempt from service-tax. In this regard, reference can be made to Notification on providing for exemption vide which all schools rendering education from pre-school to higher secondary level, are exempt. Further all universities providing qualification recognized by the Government are also exempt. All Government educational institutions including vocational education courses are also exempt. Educational institutions set up under specific Act are also exempt like Indian Institute of Management. In other words, all educational institutions except which are of commercia
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nt and set up by an Act of the Parliament or a State Legislature to carry out any function entrusted to a municipality under article 243W or a Panchayat under article 243G of the Constitution. Education services means services by way of:- pre-school education and education up to higher secondary school or equivalent; education as a part of a curriculum for obtaining a qualification recognised by any law for the time being in force; or education as a part of an approved vocational education course. In view of above definition of governmental authority, exemption has been provided as per proposed law from GST only in respect of education being provided by institutions set up by the Government or where Government is having participation of 90%
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r service-tax law to all educational institutions including private institutions which are providing formal education or vocational education or education of higher level in a specialized field duly recognized by the Government. In this regard, it may be stated that even if the exemption is provided from levy of GST by way of a Notification or exemption list, if the educational institutions referred above are covered under GST law, they will be required to comply with formalities under GST law. As provided under GST law, each entity covered under the law is required to get itself registered in each of the state from where services are being provided and the person has to file returns as required to be filed. As per the proposal contained in
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Trade Notice No. 03/2017 – 3 A Dated:- 23-3-2017 Trade Notice – Circulars – GST – OFFICE OF TILE COMMISSIONER OF CENTRAL EXCISE SERVICE TAX NO. 1, WILLIAMS ROAD, TIRUCIICIIIRAPALLI – 620 001. Dated: 23.03.2017 Trade Notice No. 03/2017 – 3 A Sub : Reg. Attention of Trade and general public is invited regarding Migration of Central Excise and Service tax Assessees to GST. To facilitate smooth migration of assesses to GSTN and sort out any problems faced by assesses, a GST SEVA KENDRA would be functioning in the above address. This SEVA Kendra would remained functional on Saturday/ Sunday up to 31.03.2017. The following Officers ar
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Superintendent 2415434 4 C. Govindasamy Superintendent 2415434 5 C. Visalakshi Superintendent 2460388 6 K.R. Parthasarathy Superintendent 2460156 7 M. Shanthi, Inspector 2415434 8 B. Joshua Samuel,
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Goods and Services Tax – GST – Dated:- 22-3-2017 – Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the following proposals: i. Amendment to the Customs Act, 1962; ii. Amendments to the Customs Tariff Act, 1975; iii. Amendment to the Central Excise Act, 1944; iv. Repeal of the Central Excise Tariff Act, 1985; and v. Amendment or repeal of the provisions relating to Acts under which cesses are levied. The above proposals will result in the following benefits: i. Insert
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Goods and Services Tax – GST – Dated:- 22-3-2017 – New Delhi, Mar 22 (PTI) Hopeful of the GST rollout from July 1, Finance Minister Arun Jaitley today said it will create one of the world's biggest single markets and make commodities cheaper and tax evasion difficult. Speaking at the 23rd Conference of the Commonwealth Auditor General, Jaitley said India has hugely a non-tax compliant society and the government banned higher denomination notes to curb the tendency of people to deal in cash that lead to tax evasion as well as terror financing. He said the reform measures undertaken by the government will help India clock 7-8 per cent growth and retain the tag of fastest growing major economy in the world, but challenges remain in volati
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re convenient, Jaitley said. The Union Cabinet this week cleared four supplementary GST legislations which will be introduced in Parliament in the ongoing budget session. The laws which enable this (GST) are now before Parliament which hopefully should get cleared and once they do get cleared then by the middle of this year we hope to see the implementation as far as this law is concerned, Jaitley said. In terms of tax compliances, he said India ranks fairly high as a non-compliant state. Therefore, one of the efforts of the state has been how to bring non-compliance to an end. Once the GST is introduced it will be a great check as far as evasion is concerned, he said, adding that the government has amended direct taxation law by bringing i
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at anonymity disappeared as it had to be deposited in bank. This has also increased the trend towards digitisation of economy, (will) act as disincentive to continuing to deal in a shadow or parallel economy and lead to a further integration of informal with formal economy, Jaitley said. He said the size of India's GDP in the near future will be bigger, size of formal economy will increase and will be cleaner. As regards growth, Jaitley said India would continue to remain amongst the fastest growing economies of the world. For the last three years we have been the fastest growing major economy, we will continue to be in that phase. I think for India to achieve the growth rate of 7-8 per cent is reasonably logically plausible. If big gro
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Goods and Services Tax – GST – Dated:- 22-3-2017 – New Delhi, Mar 22 (PTI) Finance Minister Arun Jaitley today said he is hopeful of rolling out the biggest tax reform GST from July 1 which will make goods and services cheaper and tax evasion difficult. The Finance Minister also said achieving a growth rate of 7-8 per cent is plausible and if economies pick up globally then the country's growth rate can go up further. Demonetisation, Jaitley said, will act as a disincentive towards continuing to deal with shadow economy, and integration of informal with formal economy will increase the size of the GDP and make it cleaner. The biggest taxation reform what we are trying to implement from July 1 is Goods and Services Tax … It will incre
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Goods and Services Tax – Started By: – Vishnu Dutt Gupta – Dated:- 21-3-2017 Last Replied Date:- 4-4-2017 – # GST Applicability on Interstate Job Work ?? ( As per CGST Law in chapter XI A – Job work allowed without payment of tax and should be return in prescribed time one year for input) But in IGST law no procedure mentioned for Job work. as per Miscellaneous -17 in Chapter IX of IGST law : Application of certain provisions of the CGST Act, 2016 to I G S T The provisions relating to registration, valuation, time of supply of goods, time of supply of services, change in rate of tax in respect of supply of goods or services, input tax credit and utilization thereof, distribution of input tax credit by an Input Service Distributor, job work
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pay GST on movement of goods,the credit is availed by the job worker who in turn pays the GST at the time of supplying (returning the goods after processing) on which the credit can be availed at your end. In the end, as the set off is available, the tax impact is neutral. This will save unnecessary litigation and reconciliation. Regards S.Ramaswamy – Reply By MARIAPPAN GOVINDARAJAN – The Reply = Your assumption is correct. – Reply By Ganeshan Kalyani – The Reply = Paying and taking credit would block working capital. – Reply By Vishnu Dutt Gupta – The Reply = Thanks to all for valuable reply.As per Mr. Ramaswamy we can do but we want to know availability of procedure without payment of tax on interstate processing only.Intra state also cle
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Goods and Services Tax – Started By: – venkat eswaran – Dated:- 21-3-2017 Last Replied Date:- 1-4-2017 – Dear all,While we migrat to GST portal the Validation error comes for one of the PAN no of the directors. WE have deleted that particular record and got ARN no. and migrated to GST. After that can we modify the directors details? from April onwards we need to add one more director name also. How we can do that? Still no option is shown in the portal?Pl suggest your viewsThanks in advanceVenk
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Goods and Services Tax – Started By: – Aitha RajyaLakshmi – Dated:- 21-3-2017 Last Replied Date:- 6-10-2017 – SirWhat is the process we shall follow in a case when a new place of business is established after GST migration? – Reply By MARIAPPAN GOVINDARAJAN – The Reply = If the new place of business is in the other State you have to obtain separate registration. If it is within the State no separate registration is required. In my view you can add the new establishment in the Registration certificate. – Reply By Ramaswamy S – The Reply = Under the GST, One state one registration. If the new premises is within the same state, then the new premises is to be added as additional place of business in the GST.The process is similar to the curren
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in application form in common portal of GSTN. Any well conversant computer operator can do this. Thus your additional place of business will be on the records of the department. There is no problem in amending registration certificate whenever there is any change . – Reply By MARIAPPAN GOVINDARAJAN – The Reply = If you get a registration in the GST Regime and if you want to establish a new place of business which is of same nature or incidental there to, then you can add the new place of establishment as additional place of business by amending the registration certificate. – Reply By Nagaraj Dalabhanjan – The Reply = May i know what is the time limit for adding additional place of business in same state?And the option for adding changes (
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er In Gujarat. I would like to Add Their Ahmadabad Freight. As Additional Place Of Business. When I login To GST portal. My Profile Says NA. Where do I get that updated. If someone can please help me with this one. My GSTIN is Registered in Gujarat Itself. – Reply By Hasmukh Patel – The Reply = Till date We can not amend registration for additional place of business even if it is under rule. Pls. login GST PORTL and try for add new location.You can't do it. – Reply By Amit Bansal – The Reply = HiI have heard #apob can be added in Gst by a manual process. Can anyone help me this case.Regards – Reply By JSW CEMENT LIMITED – The Reply = Additional place of business can be added in the core field amendment option now. – Reply By Hasmukh Pat
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Finance Act – Goods and services Tax Rules, 2017 (GST Rules) – TMI Updates – Highlights
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