Author: admin_gst

THE THIRD SCHEDULE (See section 15)

THE THIRD SCHEDULE (See section 15)
THE THIRD SCHEDULE
F. Acts / Amendment Acts
SCHEDULES
Taxation Laws (Amendment) Act, 2017
THE THIRD SCHEDULE
(See section 15)
Year
No.
Short title of enactments
Extent of repeal
(1)
(2)
(3)
(4)
1947
24
The Rubber Act, 1947
Clause (b) of sub-section (1) of section 9 and section 12
1951
65
The Industries (Development and Regulation) Act, 1951
Section 9
1953
29
The Tea Act, 1953
Clause (c) of section 3, sections 25 and 26 and c

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General Rules for the interpretation of this Schedule

General Rules for the interpretation of this Schedule
THE SECOND SCHEDULE
F. Acts / Amendment Acts
SCHEDULES
Taxation Laws (Amendment) Act, 2017
THE SECOND SCHEDULE
(See section 12)
“THE FOURTH SCHEDULE
[See section 2 (d) and 2 (f) (ii)]
General Rules for the interpretation of this Schedule
Classification of goods in this Schedule shall be governed by the following principles:
1. The titles of Sections, Chapters and Sub-Chapters are provided for ease of reference only; for legal purposes, classification shall be determined according to the terms of the headings and any relative Sections or Chapter Notes and, provided such headings or Notes do not otherwise require, according to the following provisions.
2. Any reference in a heading-
(a) to an article shall be taken to include a reference to that article incomplete or unfinished, provided that, as presented, the incomplete or unfinished article has the essential character of the complete or finished article. It

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ach refer to part only of the materials or substances contained in mixed or composite goods or to part only of the items in a set put up for retail sale, those headings are to be regarded as equally specific in relation to those goods, even if one of them gives a more complete or precise description of the goods;
(b) mixtures, composite goods consisting of different materials or made up of different components, and goods put up in sets for retail sale, which cannot be classified by reference to clause (a), shall be classified as if they consisted of the material or component which gives them their essential character, insofar as this criterion is applicable;
(c) when goods cannot be classified by reference to clause (a) or clause (b), they shall be classified under the heading which occurs last in numerical order among those which equally merit consideration.
4. Goods which cannot be classified in accordance with the above rules shall be classified under the heading appropriate to t

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oup of articles which has "-". Where the description of an article or group of articles is preceded by "" or "-", the said article or group of articles shall be taken to be a sub-classification of the immediately preceding description of the article or group of articles which has "-" or "".
2. The abbreviation "%" in column (4) of this Schedule, in relation to the rate of duty, indicates that the duty on the goods to which the entry relates shall be charged on the basis of the value of the goods fixed, defined or deemed to be, as the case may be, under or in sub-section (2), read with sub-section (3), of section 3 or section 4 or section 4A of the Central Excise Act, 1944, (1 of 1944.) the duty being equal to such percentage of the value as is indicated in that column.
Additional Notes
In this Schedule,-
(1) the expression,-
(a) "heading", in respect of goods, means a description in list of tariff provisions ac

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sed
Abbreviations
For
1. kg.
Kilogram
2. Tu
Thousand in number
SECTION IV
TOBACCO AND MANUFACTURED TOBACCO SUBSTITUTES
NOTE
In this Section, the expression "unit container" means a container, whether large or small (for example, tin, can, box, jar, bottle, bag or carton, drum, barrel or canister) designed to hold a predetermined quantity or number.
Chapter 24
TOBACCO AND MANUFACTURED TOBACCO SUBSTITUTES
NOTES
1. In this Chapter, "brand name" means a brand name, whether registered or not, that is to say, a name or a mark, such as a symbol, monogram, label, signature invented words or any writing which is used in relation to a product, for the purpose of indicating, or so as to indicate, a connection in the course of trade between the product and some person using such name or mark with or without any indication of the identity of that person.
2. In relation to products of heading 2401or 2402 or 2403, labelling or relabelling of containers or repackin

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r the purposes of this Chapter:
(1) "tobacco" means any form of tobacco, whether cured or uncured and whether manufactured or not, and includes the leaf, stalks and stems of the tobacco plant, but does not include any part of a tobacco plant while still attached to the earth.
(2) "cut-tobacco" means the prepared or processed cut-to-size tobacco which is generally blended or moisturised to a desired extent for use in the manufacture of machinerolled cigarettes.
(3) "smoking mixtures for pipes and cigarettes" of sub-heading 2403 10 does not cover " Gudaku".
Tariff item
Description of goods
Unit
Rate of Duty
(1)
(2)
(3)
(4)
2401
Unmanufactured Tobacco; Tobacco Refuse
2401 10
–
Tobacco, not stemmed or stripped:
2401 10 10

Flue cured virginia tobacco
kg.
64%
2401 10 20

Sun cured country (natu) tobacco
kg.
64%
2401 10 30

Sun cured virginia tobacco
kg.
64%
2401 10 40

Burley tobacco
kg.
64%
2401 10 50

Tobacco f

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d cigarillos, containing tobacco:
2402 10 10

Cigar and cheroots
Tu
12.5% or ₹ 4006 per thousand, whichever is higher
2402 10 20

Cigarillos
Tu
12.5% or ₹ 4006 per thousand, whichever is higher
2402 20
–
Cigarettes, containing tobacco :
2402 20 10

Other than filter cigarettes, of length not exceeding 65 millimetres
Tu
₹ 1280 per thousand
2402 20 20

Other than filter cigarettes, of length exceeding 65 millimetres but not exceeding 70 millimetres
Tu
₹ 2335 per Thousand
2402 20 30

Filter cigarettes of length (including the length of the filter, the length of filter being 11 millimetres or its actual length, whichever is more) not exceeding 65 millimetres
Tu
₹ 1280 per Thousand
2402 20 40

Filter cigarettes of length (including the length of the filter, the length of filter being 11 milliterres or its actual length, whichever is more) exceeding 65 millimetres but not exceeding 70 millimetres
Tu
₹ 1740 per Thousand
240

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2403 19

Other
2403 19 10

Smoking mixtures for pipes and cigarettes
kg.
360%

Biris :
2403 19 21

Other than paper rolled biris, manufactured without the aid of machine
Tu
₹ 12 per thousand
2403 19 29
–
Other
Tu
₹ 80 per Thousand
2403 19 90

Other
kg.
40%
–
Other :
2403 91 00

“Homogenised” or “reconstituted” tobacco
kg.
60%
2403 99

Other :
2403 99 10

Chewing tobacco
kg.
81%
2403 99 20

Preparations containing chewing tobacco
kg.
60%
2403 99 30

Jarda scented tobacco
kg.
81%
2403 99 40

Snuff
kg.
60%
2403 99 50

Preparations containing snuff
kg.
60%
2403 99 60

Tobacco extracts and essence
kg.
60%
2403 99 70

Cut-tobacco
kg.
₹ 70 per kg
2403 99 90

Other
kg.
81%
SECTION V
MINERAL PRODUCTS
CHAPTER 27
MINERAL FUELS, MINERAL OILS AND PRODUCTS OF THEIR DISTILLATION; BITUMINOUS SUBSTANCES; MINERAL WAXES
NOTES
1. References in heading 2710 to "petroleum oils and oils obtained from bitumi

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keting it as Compressed Natural Gas (CNG), for use as a fuel or for any other purpose, shall amount to "manufacture".
SUB-HEADING NOTE
For the purposes of sub-heading 2710 12, "light oils and preparations" are those of which 90% or more by volume (including losses) distil at 210ºC (ASTM D 86 method).
SUPPLEMENTARY NOTES
In this Chapter, the following expressions have the meanings hereby assigned to them:-
(1) "motor spirit" means any hydrocarbon oil (excluding crude mineral oil) which has its flash point below 25ºC and which either by itself or in admixture with any other substance, is suitable for use as fuel in spark ignition engines. "Special boiling point spirits (tariff items 2710 12 11, 2710 12 12 and 2710 12 13 )" means light oils, as defined in sub-heading Note 4, not containing any anti-knock preparations, and with a difference of not more than 60ºC between the temperatures at which 5% and 90% by volume (including los

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quot; shall be determined in the manner indicated in the Indian Standards Institution specification IS:1448 (p.18)-1967 for the time being in force;
(d) "Carbon Residue" shall be determined in the apparatus known as Ramsbottom Carbon Residue Apparatus in the manner indicated in the Indian Standards Institution specification IS:1448 (p. 8)-1967 for the time being in force;
(e) "Colour Comparison Test" shall be done in the following manner, namely:-
(i) first prepare a five per cent. weight by volume solution of Potassium Iodine (analytical reagent quality) in distilled water;
(ii) to this, add Iodine (analytical reagent quality) in requisite amount to prepare an exactly 0.04 normal Iodine solution;
(iii) thereafter, compare the colour of the mineral oil under test with the Iodine solution so prepared.
Tariff item
Description of goods
Unit
Rate of Duty
(1)
(2)
(3)
(4)
2709
Petroleum oils and oils obtained from bituminous minerals, crude.
Kg.
&helli

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4%+Rs. 15.00 per litre
2710 12 12
– Special boiling point spirits (other than benzene, toluene and toluol) with nominal boiling point range 63-70 °C
Kg.
14%+Rs. 15.00 per litre
2710 12 13
– Other Special boiling points sprits (other than benzene, benzol, toluene and toluol)
Kg.
14%+Rs 15.00 per litre
2710 12 19
– Other
Kg.
14%+Rs. 15.00 per litre
2710 12 20
Natural gasoline Liquid
Kg.
14%+Rs 15.00 per litre
2710 12 90
Other
Kg.
14%+Rs
15.00 per litre
2710 19
Other:
2710 19 10
Superior Kerosene oil (SKO)
Kg.
…..
2710 19 20
Aviation turbine Fuel (ATF)
Kg.
14%
2710 19 30
High speed diesel (HSD)
Kg.
14%+Rs 15.00 per litre
2710 19 40
Light Diesel oil (LDO)
Kg.
…..
2710 19 50
Fuel oil
Kg.
…..
2710 19 60
Base oil
Kg.
…..
2710 19 70
Jute batching oil and textile oil
Kg.
…..
2710 19 80
Lubricating oil
Kg.
…..
2710 19 90
Other
Kg.
…..
– Waste oil:
…..
2710 20 00

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THE THIRD SCHEDULE [See section 2 (f) (iii)]

THE THIRD SCHEDULE [See section 2 (f) (iii)]
THE FIRST SCHEDULE
F. Acts / Amendment Acts
SCHEDULES
Taxation Laws (Amendment) Act, 2017
THE FIRST SCHEDULE
(See section 11)
"THE THIRD SCHEDULE
[See section 2 (f) (iii)]
NOTES
1. In this Schedule, "heading", "sub-heading" and "tariff item" mean respectively, a heading, sub-heading and tariff item in the Fourth Schedule.
2. The rules for the interpretation, the Section, Chapter Notes and the Gen

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Collection and payment of arrears of duties

Collection and payment of arrears of duties
Section 19
F. Acts / Amendment Acts
MISCELLANEOUS
Taxation Laws (Amendment) Act, 2017
Collection and payment of arrears of duties
19. Notwithstanding the repeal of the enactments specified in the Third Schedule, the proceeds of duties levied under the said enactments immediately preceding the date appointed under sub-section (2) of section 1,-
(i) if collected by the collecting agencies but not paid into the Reserve Bank of India; or

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Repeal and savings of certain enactments.

Repeal and savings of certain enactments.
Section 18
F. Acts / Amendment Acts
MISCELLANEOUS
Taxation Laws (Amendment) Act, 2017
Repeal and savings of certain enactments.
18. (1) The enactments specified in the third column of the Third Schedule are hereby repealed to the extent specified in the fourth column thereof.
(2) Notwithstanding the repeal under sub-section (1), such repeal shall not-
(a) affect any other law in which the repealed enactment has been applied, incorporated or referred to;
(b) affect the validity, invalidity, effect or consequences of anything already done or suffered or any right, title, obligation or liability already acquired, accrued or incurred or any remedy or proceeding in respect thereof, or

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Amendment of Seventh Schedule to Act 14 of 2001.

Amendment of Seventh Schedule to Act 14 of 2001.
Section 16
F. Acts / Amendment Acts
MISCELLANEOUS
Taxation Laws (Amendment) Act, 2017
CHAPTER IV
MISCELLANEOUS
Amendment of Seventh Schedule to Act 14 of 2001.
16. In the Finance Act, 2001, in the Seventh Schedule,-
(a) except tariff items 2402 20 10, 2402 20 20, 2402 20 30, 2402 20 40, 2402 20 50, 2402 20 90, 2402 90 10, 2403 11 10, 2403 19 10, 2403 19 21, 2403 19 29, 2403 19 90, 2403 91 00, 2403 99 10, 2403 99 20, 2403 99 30,

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Omission of Section 15.

Omission of Section 15.
Section 15
F. Acts / Amendment Acts
CENTRAL SALES TAX
Taxation Laws (Amendment) Act, 2017
Omission of Section 15.
15. In the Central Sales Tax Act, section 15 s

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Omission of Section 14.

Omission of Section 14.
Section 14
F. Acts / Amendment Acts
CENTRAL SALES TAX
Taxation Laws (Amendment) Act, 2017
Omission of Section 14.
14. In the Central Sales Tax Act, section 14 s

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Amendment of Section 2.

Amendment of Section 2.
Section 13
F. Acts / Amendment Acts
CENTRAL SALES TAX
Taxation Laws (Amendment) Act, 2017
CHAPTER IV
CENTRAL SALES TAX
Amendment of Section 2.
13. In the Central Sales Tax Act, 1956 (74 of 1956) (hereinafter referred to as Central Sales Tax Act), in section 2,-
(a) clause (c) shall be omitted;
(b) for clause (d), the following clause shall be substituted, namely:-
'(d) “goods” means-
(i) petroleum crude;
(ii) high speed diesel;
(iii) motor spiri

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Insertion of a new section 38B.

Insertion of a new section 38B.
Section 10
F. Acts / Amendment Acts
CENTRAL EXCISE
Taxation Laws (Amendment) Act, 2017
Insertion of a new section 38B.
10. In the Central Excise Act, after section 38A, the following section shall be inserted, namely:-
Savings of references to Chapter, heading, sub-heading and tariff item in Central Excise Tariff Act, 1985.
"38B. Notwithstanding the repeal of the Central Excise Tariff Act, 1985 (5 of 1986.) by sub-section (1) of section 174

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Amendment of section 38.

Amendment of section 38.
Section 9
F. Acts / Amendment Acts
CENTRAL EXCISE
Taxation Laws (Amendment) Act, 2017
Amendment of section 38.
9. In the Central Excise Act, in section 38, aft

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Insertion of new sections 3B and 3C.

Insertion of new sections 3B and 3C.
Section 8
F. Acts / Amendment Acts
CENTRAL EXCISE
Taxation Laws (Amendment) Act, 2017
Insertion of new sections 3B and 3C.
8. In the Central Excise Act, after section 3A, the following sections shall be inserted, namely:-
Emergency power of Central Government to increase duty of excise.
''3B. (1) Where, in respect of any goods, the Central Government is satisfied that the duty leviable thereon under section 3 should be increased and that circumstances exist which render it necessary to take immediate action, the Central Government may, by notification in the Official Gazette, amend the Fourth Schedule to substitute the rate of duty specified therein in respect of such goods in

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cation has been approved with or without modifications under sub-section (2).
Explanation.-For the purposes of this sub-section, the term "form or method", in relation to a rate of duty of excise, means the basis, including valuation, weight, number, length, area, volume or any other measure, on which the duty may be levied.
(2) Every notification under sub-section (1) shall be laid before each House of Parliament, if it is in session, as soon as may be after the issue of the notification, and, if it is not in session, within seven days of its re-assembly, and the Central Government shall seek the approval of Parliament to the notification by a resolution moved within a period of fifteen days beginning with the day on which the

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Amendment of section 3A.

Amendment of section 3A.
Section 7
F. Acts / Amendment Acts
CENTRAL EXCISE
Taxation Laws (Amendment) Act, 2017
Amendment of section 3A.
7. In the Central Excise Act, in section 3A, in Explanation 1, for the words and figures, "First Schedule and the Second Schedule to the Central Excise Tariff Act, 1985" (5 of 1986.), the words ''Fourth Schedule'' shall be substituted.
–
Statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulat

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Substitution of new section for section 3.

Substitution of new section for section 3.
Section 6
F. Acts / Amendment Acts
CENTRAL EXCISE
Taxation Laws (Amendment) Act, 2017
Substitution of new section for section 3.
6. In the Central Excise Act, for section 3, the following section shall be substituted, namely:-
Duty specified in the Fourth Schedule to be levied
"3. (1) There shall be levied and collected in such manner as may be prescribed a duty of excise to be called the Central Value Added Tax (CENVAT) on all excisable goods (excluding goods produced or manufactured in special economic zones) which are produced or manufactured in India as, and at the rates, set forth in the Fourth Schedule:
Provided that the duty of excise which shall be levied and collec

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espect of any such like goods, any duty of customs leviable for the time being in force is leviable at different rates, then, such duty shall, for the purposes of this proviso, be deemed to be leviable at the highest of those rates.
Explanation 2.-For the purposes of this sub-section,-
(i)"hundred per cent. export-oriented undertaking" means an undertaking which has been approved as a hundred per cent. export-oriented undertaking by the Board appointed in this behalf by the Central Government in exercise of the powers conferred by section 14 of the Industries (Development and Regulation) Act, 1951, (65 of 1951) and the rules made under that Act;
(ii) "Special Economic Zone" shall have the meaning assigned to it in

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Amendment of section 2.

Amendment of section 2.
Section 5
F. Acts / Amendment Acts
CENTRAL EXCISE
Taxation Laws (Amendment) Act, 2017
CHAPTER III
CENTRAL EXCISE
Amendment of section 2.
5. In the Central Excise Act, 1944 (1 of 1944.) (hereinafter referred to as the Central Excise Act), in section 2,-
(a) in clause (d), for the words and figures "the First Schedule and the Second Schedule to the Central Excise Tariff Act, 1985" (5 of 1986.), the words "the Fourth Schedule" shall be

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Amendment of section 3.

Amendment of section 3.
Section 4
F. Acts / Amendment Acts
CUSTOMS TARIFF
Taxation Laws (Amendment) Act, 2017
CHAPTER II
CUSTOMS TARIFF
Amendment of section 3.
4. In the Customs Tariff Act, 1975, (51 of 1975.)in section 3, –
(a) in sub-section (2),-
(i) in clause (ii), for item (a), the following item shall be substituted, namely:-
"(a) the duty referred to in sub-sections (1), (3), (5), (7) and (9);";
(ii) in the proviso, in sub-clause (b), item (ii) shall be omitted;
(b) in sub-section (6), in clause (ii), for item (a), the following item shall be substituted, namely:-
"(a) the duty referred to in sub-sections (5), (7) and (9);";
(c) for sub-sections (7) and (8), the following sub-sections sh

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(1) of section 14 of the Customs Act, 1962 (52 of 1962.) or the tariff value of such article fixed under sub-section (2) of that section, as the case may be; and
(b) any duty of customs chargeable on that article under section 12 of the Customs Act, 1962, (52 of 1962.) and any sum chargeable on that article under any law for the time being in force as an addition to, and in the same manner as, a duty of customs, but does not include the tax referred to in sub-section (7) or the cess referred to in sub-section (9).
(9) Any article which is imported into India shall, in addition, be liable to the goods and services tax compensation cess at such rate, as is leviable under section 8 of the Goods and Services Tax (Compensation to States) Cess

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under section 12 of the Customs Act, 1962, (52 of 1962.) and any sum chargeable on that article under any law for the time being in force as an addition to, and in the same manner as, a duty of customs, but does not include the tax referred to in sub-section (7) or the cess referred to in sub-section (9).
(11) The duty or tax or cess, as the case may be, chargeable under this section shall be in addition to any other duty or tax or cess, as the case may be, imposed under this Act or under any other law for the time being in force.
(12) The provisions of the Customs Act, 1962 (52 of 1962.) and the rules and regulations made thereunder, including those relating to drawbacks, refunds and exemption from duties shall, so far as may be, apply t

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Insertion of new sections 108A and 108B.

Insertion of new sections 108A and 108B.
Section 3
F. Acts / Amendment Acts
CUSTOMS
Taxation Laws (Amendment) Act, 2017
Insertion of new sections 108A and 108B.
3. In the Customs Act, after section 108, the following sections shall be inserted, namely:-
Obligation to furnish information.
"108A. (1) Any person, being-
(a) a local authority or other public body or association; or
(b) any authority of the State Government responsible for the collection of value added tax or sales tax or any other tax relating to the goods or services; or
(c) an income tax authority appointed under the provisions of the Income-tax Act, 1961; (43 of 1961.)
(d) a Banking company within the meaning of clause (a) of section 45A of the R

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Act, 1908; (16 of 1908) or
(i) a Registrar within the meaning of the Companies Act, 2013 (18 of 2013.); or
(j) the registering authority empowered to register motor vehicles under Chapter IV of the Motor Vehicles Act, 1988 (59 of 1988.); or
(k) the Collector referred to in clause (c) of section 3 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (30 of 2013.); or
(l) the recognised stock exchange referred to in clause (f) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956); or
(m) a depository referred to in clause (e) of sub-section (1) of section 2 of the Depositories Act, 1996 (22 of 1996); or
(n) the Post Master General within the meaning of c

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s of this Act, shall furnish such information to the proper officer in such manner as may be prescribed by rules made under this Act.
(2) Where the proper officer considers that the information furnished under sub-section (1) is defective, he may intimate the defect to the person who has furnished such information and give him an opportunity of rectifying the defect within a period of seven days from the date of such intimation or within such further period which, on an application made in this behalf, the proper officer may allow and if the defect is not rectified within the said period of seven days or, further period, as the case may be, so allowed, then, notwithstanding anything contained in any other provision of this Act, such inform

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Amendment of section 2.

Amendment of section 2.
Section 2
F. Acts / Amendment Acts
CUSTOMS
Taxation Laws (Amendment) Act, 2017
CHAPTER I
CUSTOMS
Amendment of section 2.
2. In the Customs Act, 1962 (52 of 19

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Short title and commencement.

Section 1
Short title and commencement.
F. Acts / Amendment Acts
Short title and commencement
Section 1 of Taxation Laws (Amendment) Act, 2017
MINISTRY OF LAW AND JUSTICE

(Legislative Department)

New Delhi, the 5th May, 2017/Vaisakha 15, 1939 (Saka)

The following Act of Parliament received the assent of the President on the 04th April, 2017, and is hereby published for general information:-

THE TAXATION LAWS (AMENDMENT) ACT, 2017

NO. 18 OF 2017

[4th May, 2017.]

An Act further to amend the Customs Act, 1962, the Customs Tariff Act, 1975, the Central Excise Act, 1944, the Central Sales Tax Act, 1956, the Finance Act, 2001 and the Finance Act, 2005 and to repeal certain enactments.

BE it enacted by Parlia

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GST – CONCEPT & STATUS – As on 5th April, 2017

GST – CONCEPT & STATUS – As on 5th April, 2017
GST
Dated:- 7-4-2017

Introduction
The introduction of Goods and Services Tax (GST) would be a very significant step in the field of indirect tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax, it would mitigate cascading or double taxation in a major way and pave the way for a common national market. From the consumer point of view, the biggest advantage would be in terms of a reduction in the overall tax burden on goods, which is currently estimated to be around 25%-30%. Introduction of GST would also make Indian products competitive in the domestic and international markets. Studies show that this would have a boosting impact on economic growth. Last but not the least, this tax, because of its transparent and self-policing character, would be easier to administer.
Genesis
2. The idea of moving towards the GST was first mooted by the then Union Finance Minister in his Bu

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e domains. The Centre has the powers to levy tax on the manufacture of goods (except alcoholic liquor for human consumption, opium, narcotics etc.) while the States have the powers to levy tax on sale of goods. In case of inter-State sales, the Centre has the power to levy a tax (the Central Sales Tax) but, the tax is collected and retained entirely by the originating States. As for services, it is the Centre alone that is empowered to levy service tax. Since the States are not empowered to levy any tax on the sale or purchase of goods in the course of their importation into or exportation from India, the Centre levies and collects this tax as additional duties of customs, which is in addition to the Basic Customs Duty. This additional duty of customs (commonly known as CVD and SAD) counter balances excise duties, sales tax, State VAT and other taxes levied on the like domestic product. Introduction of GST would require amendments in the Constitution so as to concurrently empower the C

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integrated tax – IGST) on inter-State trade or commerce (including imports) in goods or services. The Central Government will have the power to levy excise duty in addition to the GST on tobacco and tobacco products. The tax on supply of five specified petroleum products namely crude, high speed diesel, petrol, ATF and natural gas would be levied from a later date on the recommendation of GST Council.
4.1 A Goods and Services Tax Council (GSTC) shall be constituted comprising the Union Finance Minister, the Minister of State (Revenue) and the State Finance Ministers to recommend on the GST rate, exemption and thresholds, taxes to be subsumed and other features. This mechanism would ensure some degree of harmonization on different aspects of GST between the Centre and the States as well as across States. One half of the total number of members of GSTC would form quorum in meetings of GSTC. Decision in GSTC would be taken by a majority of not less than three-fourth of weighted votes cas

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The following decisions have been taken by the GSTC:
(i) The threshold exemption limit would be ₹ 20 lac. For special category States enumerated in article 279A of the Constitution, threshold exemption limit has been fixed at ₹ 10 lac.
(ii) Composition threshold shall be ₹ 50 lac. Composition scheme shall not be available to inter-State suppliers, service providers (except restaurant service) and specified category of manufacturers.
(iii) Existing tax incentive schemes of Central or State governments may be continued by respective government by way of reimbursement through budgetary route. The schemes, in the present form, would not continue in GST.
(iv) There would be four tax rates namely 5%, 12%, 18% and 28%. Besides, some goods and services would be under the list of exempt items. Rate for precious metals is yet to be fixed. A cess over the peak rate of 28% on certain specified luxury and sin goods would be imposed for a period of five years to compensate Stat

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Compensation Cess has been finalised.
(x) Four rules on input tax credit, composition levy, transitional provisions and valuation have been recommended. Further five Rules on registration, invoice, payments, returns and refund, finalized in September, 2016 and as amended in light of the GST bills introduced in the Parliament, have also been recommended.
Salient Features of GST
6. The salient features of GST are asunder:
(i) GST would be applicable on “supply” of goods or services as against the present concept of tax on the manufacture of goods or on sale of goods or on provision of services.
(ii) GST would be based on the principle of destination based consumption taxation as against the present principle of origin based taxation.
(iii) It would be a dual GST with the Centre and the States simultaneously levying it on a common base. The GST to be levied by the Centre would be called Central GST (CGST) and that to be levied by the States [including Union territories with legis

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Additional Duties of Customs (commonly known as CVD);
f) Special Additional Duty of Customs(SAD);
g) Service Tax;
h) Cesses and surcharges insofar as they relate to supply of goods or services.
(ix) State taxes that would be subsumed within the GST are:
a) State VAT;
b) Central Sales Tax;
c) Purchase Tax;
d) Luxury Tax;
e) Entry Tax (All forms);
f) Entertainment Tax (except those levied by the local bodies);
g) Taxes on advertisements;
h) Taxes on lotteries, betting and gambling;
i) State cesses and surcharges insofar as they relate to supply of goods or services.
(x) GST would apply to all goods and services except Alcohol for human consumption.
(xi) GST on five specified petroleum products (Crude, Petrol, Diesel, ATF & Natural gas) would be applicable from a date to be recommended by the GSTC.
(xii) Tobacco and tobacco products would be subject to GST. In addition, the Centre would continue to levy Central Excise duty.
(xiii) A common threshold exemption would apply

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supplies for payment of IGST. The credit would be permitted to be utilized in the following manner:
a) ITC of CGST allowed for payment of CGST & IGST in that order;
b) ITC of SGST allowed for payment of SGST & IGST in that order;
c) ITC of UTGST allowed for payment of UTGST & IGST in that order;
d) ITC of IGST allowed for payment of IGST, CGST & SGST/UTGST in that order.
ITC of CGST cannot be used for payment of SGST/UTGST and vice versa.
(xvii) Accounts would be settled periodically between the Centre and the State to ensure that the credit of SGST used for payment of IGST is transferred by the originating State to the Centre. Similarly the IGST used for payment of SGST would be transferred by Centre to the destination State. Further the SGST portion of IGST collected on B2C supplies would also be transferred by Centre to the destination State. The transfer of funds would be carried out on the basis of information contained in the returns filed by the taxpayers.
(xviii) Input

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erce operators to collect 'tax at source', at such rate not exceeding one per cent. (1%) of net value of taxable supplies, out of payments to suppliers supplying goods or services through their portals.
(xxiv) System of self-assessment of the taxes payable by the registered person.
(xxv) Audit of registered persons to be conducted in order to verify compliance with the provisions of Act.
(xxvi) Limitation period for raising demand is three (3) years from the due date of filing of annual return or from the date of erroneous refund for raising demand for short-payment or non-payment of tax or erroneous refund and its adjudication in normal cases.
(xxvii) Limitation period for raising demand is five (5) years from the due date of filing of annual return or from the date of erroneous refund for raising demand for short-payment or non-payment of tax or erroneous refund and its adjudication in case of fraud, suppression or willful mis-statement.
(xxviii) Arrears of tax to be recovered u

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) Elaborate transitional provisions have been provided for smooth transition of existing taxpayers to GST regime.
Benefits of GST
7. (A) Make in India
(i) Will help to create a unified common national market for India, giving a boost to Foreign investment and “Make in India” campaign;
(ii) Will prevent cascading of taxes as Input Tax Credit will be available across goods and services at every stage of supply;
(iii) Harmonization of laws, procedures and rates of tax;
(iv) It will boost export and manufacturing activity, generate more employment and thus increase GDP with gainful employment leading to substantive economic growth;
(v) Ultimately it will help in poverty eradication by generating more employment and more financial resources;
(vi) More efficient neutralization of taxes especially for exports thereby making our products more competitive in the international market and give boost to Indian Exports;
(vii) Improve the overall investment climate in the country which w

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, etc;
(v) All interaction to be through the common GSTN portal- so less public interface between the taxpayer and the tax administration;
(vi) Will improve environment of compliance as all returns to be filed online, input credits to be verified online, encouraging more paper trail of transactions;
(vii) Common procedures for registration of taxpayers, refund of taxes, uniform formats of tax return, common tax base, common system of classification of goods and services will lend greater certainty to taxation system;
(viii) Timelines to be provided for important activities like obtaining registration, refunds, etc;
(ix) Electronic matching of input tax credits all-across India thus making the process more transparent and accountable.
(C) Benefit to Consumers:
(i) Final price of goods is expected to be lower due to seamless flow of input tax credit between the manufacturer, retailer and service supplier;
(ii) It is expected that a relatively large segment of small retailers w

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successful migration. About 60 percent of existing registrants have already migrated to the GST systems. GSTN has already appointed M/s Infosys as Managed Service Provider (MSP) at a total project cost of around ₹ 1380 crores for a period of five years.
8.1 GSTN has selected 34 IT, ITeS and financial technology companies, to be called GST Suvidha Providers (GSPs). GSPs would develop applications to be used by taxpayers for interacting with the GSTN.
Other Legislative Requirements
9. Suitable legislation for the levy of GST (Central GST Bill, UTGST Bill & IGST Bill and State GST Bills) drawing powers from the Constitution would be introduced in Parliament or the State Legislatures on the recommendations by the GSTC. Unlike the Constitutional Amendment, the GST Bills would need to be passed by a simple majority. The levy of the tax can commence only after the GST Law has been enacted by the respective legislatures. Also, unlike the State VAT, the date of commencement of this l

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hSeptember, 2016. The name of this project is 'SAKSHAM' involving a total project value of ₹ 2,256 crores.
10.1 It was also felt that the organizational structure and deployment of human resources needed a review for smooth and effective implementation of GST. A Working Group has after extensive deliberations and studies, submitted its Report which has been approved by the Government.
10.2 Augmentation of human resources would be necessary to handle large taxpayers' base in GST scattered across the length and breadth of the country. Capacity building, particularly in the field of Accountancy and Information Technology for the departmental officers has to be taken up in a big way. A massive four-tier training programme is being conducted under the leadership of NACEN. This training project is aimed at imparting training on GST law and procedures to more than 60,000 officers of CBEC and Commercial Tax officers of State Governments. Officers of the office of CAG are also participa

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GST – Understanding Goods and Services Tax (Short Presentation)

GST – Understanding Goods and Services Tax (Short Presentation)
GST
Dated:- 7-4-2017

GST – Understanding Goods and Services Tax (Short Presentation)
=============
Document 1
जीएसटी
राष्ट्र
कर
बाजार
GST
GOODS AND SERVICES TAX
Understanding Goods and Services Tax
•
Agenda
â–¡ Journey so far
â–¡ Design of GST
â–¡ Main features of GST Law
☐ Administration and IT Network
Benefits of GST and Way Forward
GST
NATION
TAX
MARKET
1
The Journey so far
Constitution (122nd Amendment) Bill (CAB)
introduced in Lok Sabha
Constitution (115th
Amendment) Bill introduced
Announcement
2011
to introduce GST
by 2010
2006
2009
2014
2013
Aug
2016
NATION
TAX
GST
MARKET
Mar 2017
12 GST Council
Meetings
CGST, SGST,
UTGST, IGST,
Compensation
Cess Bills
recommended
Constitution Amendment
Bill passed
Three committees constituted by

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o both Centre & States to
levy GST (Centre to tax sale of goods and States to tax provision of services)
4
Understanding CGST, SGST, UTGST & IGST
CGST
Foreign Territory
IGST
CGST
+
UTGST
IGST
State 1
IGST
+
SGST
IGST
State 2
GST
NATION
TAX
MARKET
CGST
+
SGST
Union territory
IGST Credit can be used for payment of IGST, CGST, SGST / UTGST in that order
5
сл
Features of Constitution Amendment Act
GST
NATION
TAX
MARKET
â–  Concurrent jurisdiction for levy & collection of GST by
the Centre (CGST) and the States (SGST)
â–¡ Centre to levy and collect IGST on supplies in the
course of inter-State trade or commerce including
imports
â–¡ Compensation for loss of revenue to States for five
years
â–¡ GST on petroleum crude, high speed diesel, motor
spirit (commonly known as petrol), natural gas &
aviation turbine fuel to be levied from a later date on
recommendations of Council
6
GST Council – Constitution
GST
NATION
TAX
MARKET

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ions (2/2)
GST
NATION
TAX
MARKET
☐ Cess over the peak rate of 28% on specified luxury
and sin goods
–
â–¡ To ensure single interface all administrative
control over
â–  90% of taxpayers having turnover below Rs. 1.5 cr
would vest with State tax administration
â–  10% of taxpayers having turnover below of Rs. 1.5
cr. would vest with Central tax administration
â–  taxpayers having turnover above Rs. 1.5 cr. would
be divided equally between Central and State tax
administration
9
Compensation Mechanism for States
GST
NATION
TAX
MARKET
Compensation = (State's Revenue for FY 2015-16)*
14%* -State's Revenue (for x year)
Revenue of all taxes subsumed in GST by the
State for 2015 – 16 as the base
–
Assumption of 14% Annual Growth Rate
Compensation to be provided through Cess
Cess only on few specified luxury and sin goods
10
Main Features of the GST Act (1/4)
â–¡ GST to be levied on supply of goods or services
☐ All transact

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y internet banking, NEFT / RTGS,
Debit/credit card and over the counter
â–¡ Cross utilization of IGST Credit first as IGST and then as
CGST or SGST /UTGST
☐ Concept of TDS for Government Departments
Concept of TCS for E-Commerce Companies
☐ Refund to be granted within 60 days
â–¡ Provisional release of 90% refund to exporters within 7
days
13
Main Features of the GST Act (4/4)
GST
NATION
TAX
MARKET
â–¡ Interest payable if refund not sanctioned in time
Refund to be directly credited to bank accounts
â–¡ Comprehensive transitional provisions for smooth
transition of existing tax payers to GST regime
☐ Special procedures for job work
System of GST Compliance Rating
â–¡ Anti-Profiteering provision
14
Appeals and Revision under GST
Proposed Structure of Appellate Tribunal
First Appellate Authority or
Revisional Authority
All Disputes except
Place of Supply
Disputes
GST
NATION
TAX
MARKET
Place of supply
Disputes
One Appel

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with GSTN
☐ Training of officials of both Centre & States
☐ Outreach programs for Trade and Industry
18
17
Benefits of GST
Overall reduction in Prices for Consumers
1
GST
NATION
TAX
MARKET
2 Reduction in Multiplicity of Taxes, Cascading and Double Taxation
3
4
Uniform Rate of Tax and Common National Market
Broader Tax Base and decrease in “Black” transactions
5 Free Flow of Goods and Services – No Checkpoints
6
Non-Intrusive Electronic Tax Compliance System
18
Way Forward
GST
NATION
TAX
MARKET
â–¡ Passage of CGST, UTGST, IGST & Compensation Law by
Parliament and passing of SGST laws by State
Legislatures
☐ GST Council to fit tax rates to various categories of
Goods or Services
☐
Rules relating to registration, returns, valuation,
transitional, Input Credit etc. to be finalized
â–¡ Migration and handholding of existing tax payers
☐ Outreach program for trade and industry
Change Management
19
Thank You
The following

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