Author: admin_gst

Claim of reduction in output tax liability more than once
Rule 17
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
17. Claim of reduction in output tax liability more than once
Duplication of claims for reduction in output tax liability in the details of outward supplies shall be communicated to the registered taxable person in FORM GST ITC-1 electronically through the Common Portal.
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Statute, statutory provisions legislation

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Communication and rectification of discrepancy in reduction in output tax liability and reversal of claim of reduction
Rule 16
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
16. Communication and rectification of discrepancy in reduction in output tax liability and reversal of claim of reduction
(1) Any discrepancy in claim of reduction in output tax liability, specified in subsection (3) of section 29A, and the details of output tax liability to be added under subsection (5) of the said section on account of continuation of such discrepancy shall be made available to the registered taxable person making such claim and the recipient electronically in FORM GST ITC-1 through t

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Final acceptance of reduction of output tax liability and communication thereof
Rule 15
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
15. Final acceptance of reduction of output tax liability and communication thereof
(1) The final acceptance of claim of reduction in output tax liability in respect of any tax period, specified in sub-section (2) of section 29A, shall be made available electronically to the taxable person making

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Matching of claim of reduction in the output tax liability
Rule 14
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
14. Matching of claim of reduction in the output tax liability
The following details relating to the claim of reduction in output tax liability shall be matched under section 29A after the due date for furnishing the return in FORM GSTR3
(a) GSTIN of the supplier
(b) GSTIN of the recipient
(c) Credit Note date
(d) Credit Note number
(e) Taxable value
(f) Tax amount:
Provided that where the time limit for furnishing FORM GSTR-1 under sub-section (1) of section 25 and FORM GSTR-2 under sub-section (2) of section 26 has been extended, the date of matc

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Claim of input tax credit on the same invoice more than once
Rule 13
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
13. Claim of input tax credit on the same invoice more than once
Duplication of claims of input tax credit in the details of inward supplies shall be communicated to the registered taxable person in FORM GST ITC-1 electronically through the Common Portal.
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Statute, statutory provisions legislation, law, enactm

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Communication and rectification of discrepancy in claim of input tax credit and reversal of claim of input tax credit
Rule 12
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
12. Communication and rectification of discrepancy in claim of input tax credit and reversal of claim of input tax credit
(1) Any discrepancy in the claim of input tax credit in respect of any tax period, specified in sub-section (3) of section 29 and the details of output tax liable to be added under sub-section (5) of the said section on account of continuation of such discrepancy shall be made available to the registered taxable person making such claim and the supplier electronically in FORM GST ITC-1

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Final acceptance of input tax credit and communication thereof
Rule 11
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
11. Final acceptance of input tax credit and communication thereof
(1) The final acceptance of claim of input tax credit in respect of any tax period, specified in sub-section (2) of section 29, shall be made available electronically to the registered taxable person making such claim in FORM GST ITC-1 through the

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Matching of claim of input tax credit
Rule 10
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
10. Matching of claim of input tax credit
The following details relating to the claim of input tax credit on inward supplies including imports, provisionally allowed under section 28, shall be matched under section 29 after the due date for furnishing the return in FORM GSTR-3
(a) GSTIN of the supplier
(b) GSTIN of the recipient
(c) Invoice/Debit Note date
(d) Invoice/Debit Note number
(e) Taxable value
(f) Tax amount:
Provided that where the time limit for furnishing FORM GSTR-1 under sub-section (1) of section 25 and FORM GSTR-2 under sub-section (2) of section 26 has

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Notice to non-filers of returns
Rule 9
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
9. Notice to non-filers of returns
A notice in

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Form and manner of submission of statement of supplies effected through e-Commerce
Rule 8
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
8. Form and manner of submission of statement of supplies effected through e-Commerce
(1) Every e-Commerce operator required to collect tax at source under section 43C shall furnish a statement in FORM GSTR-8 electronically through the Common Portal, either directly or from a Facilitation Centre

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Form and manner of submission of return by a person required to deduct tax at source
Rule 7
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
7. Form and manner of submission of return by a person required to deduct tax at source
(1) Every registered taxable person required to deduct tax at source under section 37 shall furnish a return in FORM GSTR-7 electronically through the Common Portal either directly or from a Facilitation Ce

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Form and manner of submission of return by an input service distributor
Rule 6
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
6. Form and manner of submission of return by an input service distributor
Every input service distributor shall, after adding, correcting or deleting the details contained in FORM GSTR-6A, furnish electronically a return in FORM GSTR-6, containing the details of tax invoices on which credit has been receiv

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Form and manner of submission of return by non-resident taxable person
Rule 5
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
5. Form and manner of submission of return by non-resident taxable person
Every registered non-resident taxable person shall furnish a return in FORM GSTR-5 electronically through the Common Portal, either directly or from a Facilitation Centre, notified by the Board or Commissioner, including therein the de

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Form and manner of submission of quarterly return by the composition supplier
Rule 4
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
4. Form and manner of submission of quarterly return by the composition supplier
(1) Every registered taxable person paying tax under section 8 shall, after adding, correcting or deleting the details contained in FORM GSTR-4A, furnish a quarterly return in FORM GSTR-4 electronically through the Commo

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Form and manner of submission of monthly return
Rule 3
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
3. Form and manner of submission of monthly return
(1) Every registered taxable person, other than a taxable person paying tax under section 8, shall furnish a return under sub-section (1) of section 27 in FORM GSTR-3 electronically through the Common Portal either directly or from a Facilitation Centre, notified by the Board or Commissioner.
(2) Part A of the return under sub-rule (1) shall be electronically generated on the basis of information furnished through returns in FORM GSTR-1, FORM GSTR-2, electronic credit ledger, electronic cash ledger and electronic tax liabi

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Form and manner of furnishing details of inward supplies
Rule 2
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
2. Form and manner of furnishing details of inward supplies
(1) Every registered taxable person required to furnish the details of inward supplies of goods and/or services received during a tax period under sub-section (2) of section 26 shall, on the basis of details contained in Part A of FORM GSTR-2A, prepare such details in the manner specified in sub-section (1) of the said section and furnish the same in FORM GSTR-2 electronically through the Common Portal, either directly or from a Facilitation Centre, notified by the Board or Commissioner, after including the

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l in FORM GSTR-2.
(5) The details of invoices furnished by an Input Service Distributor in his return in FORM GSTR-6 under rule 7 shall be made available to the recipient of credit in Part B of FORM GSTR 2A electronically through the Common Portal and the said recipient may include the same in FORM GSTR-2.
(6) The details of tax deducted at source by the deductor under section 37 furnished in FORM GSTR-7 shall be made available to the deductee in Part C of FORM GSTR-2A electronically through the Common Portal and the said deductee may include the same in FORM GSTR-2. electronically through the Common Portal and the said deductee may include the same in FORM GSTR-2.
(7) The details of tax collected at source by an e-commerce operator und

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Form and manner of furnishing details of outward supplies
Rule 1
Bill
Draft GST Return Rules
Draft – Goods And Services Tax – Return Rules, 20 [September 2016]
DRAFT
GOODS AND SERVICES TAX – RETURN RULES, 20
Note: Corresponding changes in the Model GST Law are being carried out separately. Comments , if any may kindly be given by 28th September, 2016.
Chapter-__:
RETURNS
1. Form and manner of furnishing details of outward supplies
(1) Every registered taxable person required to furnish the details:
(a) of outward supplies of goods and/or services effected during a tax period under sub-section (1) of section 25; and
(b) of outward supplies of goods and/or services effected during an earlier tax period under sub-se

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Transition of Closing Balance of ITC under the present tax regime to GST tax regime.
By: – Anuj Bansal
Goods and Services Tax – GST
Dated:- 5-10-2016

This article is in continuity of the article earlier written by the Author and is published in Tax Management India as regards transition of registration of the dealers under the existing system to GST system. In short, it was explained in the earlier article that the registration of existing dealers will automatically be converted to registrations under GST law and certain basic details of the dealers will also be inserted in the new registration system except that details which may further be required.
Another important aspect in the transition from the existing system to GST regime is the carryover of closing balance of ITC from present tax regime to GST regime. It is quite important to understand the process of carryover of closing balance of ITC to GST regime so that full benefit of ITC is available to a dealer. ITC

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t return for the period ending March, 2017 will automatically be carried over in the system for the purpose of CGST or SGST as the case may be. In other words, the amount of ITC to be carried over shown in the return for Service Tax / Excise Duty or for VAT as the case may be shown by a dealer will be automatically taken by the system.
It may be stated once the ITC is carried over in the return of the present law and considered in the first return under GST law, there is no mechanism to correct / revise ITC carried forward from the earlier period. Therefore, the dealer is required to take an extra precaution in filing the last return for the present tax regime and first return for the GST regime. In other words, in case any amount of ITC is left out in the return for the period ending March, 2017, the dealer can only claim cash refund from the department and which would be difficult.
As per the existing provisions of Service Tax / Excise Duty return for the month of March 2017 will b

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dealer correctly in respect of all the transactions.
In short, it is stated that the dealer has to be cautious in filing the returns under existing laws for the month of March 2017 claiming the correct amount of ITC carried over and such returns should be in any case filed before 20th May 2017 on which date the returns under GST Law will become due.
Transition of closing balance ITC on the appointed date in relation to capital goods:
This situation is relevant in the cases where the assesse has partly claimed ITC on the Capital Goods in the present tax regime and the balance is pending for claim during GST Regime. In such situation, the assessee will determine the total balance ITC on capital goods on the appointed date and he will be allowed to consider the ITC in his first return under GST regime. Here the department has allowed the assessee to manually insert the value of the balance ITC relating to capital goods. It is suggested that the dealer should maintain proper accounts /

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uld be in possession of invoices and other prescribed documents evidencing payment of duty/ tax under the earlier law. Therefore, it is suggested in such situations to start preparing / documenting such kind of invoices which would be relevant for claiming ITC on the closing stock.
Dealers who are registered under the composition scheme under earlier law but under GST regime paying tax as general / normal dealer, the ITC in regard to the stock held by such dealers on the appointed date will be available in GST regime. However, the dealer should be in possession of invoices or any other prescribed documents evidencing the payment of duty / tax.Moreover, the dealer would be eligible for ITC on receipt of such goods under earlier law but for being a composite dealer has not claimed ITC in earlier law. Such kind of ITC shall also be admissible under the GST regime. Therefore, it is suggested that if any such kind of situation is envisaged, proper records of invoices / documents evidencing

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TAX INVOICE, CREDIT AND DEBIT NOTES UNDER MODEL ‘GST’ LAW
By: – DR.MARIAPPAN GOVINDARAJAN
Goods and Services Tax – GST
Dated:- 5-10-2016

Chapter VII of Model GST law ('law' for short) discusses about the tax invoice, credit and debit notes.
Tax invoice
Tax invoice is to be issued for both taxable goods as well as taxable service. Section 23 of the law provides that a registered taxable person supplying-
* Taxable goods shall issue a tax invoice showing the description, quantity and value of goods, the tax thereon and such other particulars as may be prescribed;
* Taxable service shall issue a tax invoice, within the prescribed time, showing the description, the tax charges thereon and such other particulars as may be prescribed.
Contents of tax invoice
The tax invoice, in general, shall have the following details-
* name, address and GSTIN of the supplier;
* a consecutive serial number containing only alphabets and/or numerals, unique for a financial yea

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sed Invoice' or 'Supplementary Invoice' is to be indicated prominently, where applicable along with the date and invoice number of the original invoice; and'
* signature or digital signature of the supplier or his authorized representative;
The Board/Commissioner may specify, by notification-
* the number of digits of HSN code for goods or the accounting code for services, that a class of taxable persons shall be required to mention, for such period as may be specified in the said notification, and
* the class of taxable persons that would not be required to mention the HSN code for goods or, the Accounting Code for Services, for such period as may be specified in the said notification.
Invoice in exports
The invoice, in case of exports, shall carry an endorsement 'Supply meant for Export on Payment of IGST' or 'Supply meant for export under bond without payment of IGST'. The following details are to be incorporated in the invoice-
* name and address of the recipient;
* ad

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porter' and the triplicate copy is to be marked as 'Triplicate for supplier'. The duplicate copy is not required to be carried by the transporter if the supplier has obtained an Invoice Reference Number.
The invoice in case of supply of services shall be prepared in duplicate. The original copy is to be marked as 'original for recipient' and the duplicate copy is to be marked as 'duplicate for supplier'.
The serial number of invoices issued during a tax period shall be furnished electronically through the common portal in Form GSTR-1.
Invoice Reference Number
A registered taxable person may obtain an 'invoice reference number' from the common portal (the common GST electronic portal approved by the Central Government and State Governments, on the recommendation of the Council, for the specified purposes, as may be notified under this Act) by uploading, on the said portal, a tax invoice issued by him in Form GST-INV-1 and produce the same for verification by the proper officer as re

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ch particulars as may be prescribed. A bill of supply shall be issued by the supplier containing the following particulars-
* name, address and GSTIN of the supplier;
* a consecutive serial number containing only alphabets and/or numerals, unique for a financial year;
* date of issue;
* name, address and GSTIM/.UID, if registered of the recipient;
* HSN Code of goods or Accounting Code for services;
* Description of goods of services;
* value of goods or services taking into account discount or abatement, if any; and
* signature or digital signature of the supplier or his authorized representative.
The bill of supply is not required to be issued if the value of the goods or services is less than ₹ 100/- where the recipient of the goods or services requires such bill. The registered taxable person shall prepare a consolidated bill of supply at the close of each day in respect of all such supplies where the bill of supply has not been issued due to lesser value to

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issued by the said person if the incidence of tax and interest on such supply has been passed by him to any other person.
Section 24(2) of the law provides for the issue of a debit note. Where a tax invoice has been issued for supply of any goods and/or services and the taxable value and/or tax charged in that tax invoice is found to be less than the taxable value and/or tax payable in respect of such supply, the taxable person, who has supplied such goods and/or services, shall issue to the recipient a debit note containing such particulars as may be prescribed on or before the thirtieth day of September following the end of the financial year in which such supply was made, or the date of filing of the relevant annual return, whichever is earlier.
Section 24(3) of the law imposes an obligation on a person who issues or receives a debit note or credit note. Any registered taxable person who issues or receives a credit or debit note in relation to a supply of goods and/or services sha

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of supply;
* taxable value of goods or services, rates of tax and the amount of tax credited or debited to the recipient; and
* signature or digital signature of the supplier or his authorized representative.
Tax invoices of 'input service distributor'
"Input Service Distributor" means an office of the supplier of goods and / or services which receives tax invoices issued under section 23 towards receipt of input services and issues tax invoice or such other document as prescribed for the purposes of distributing the credit of CGST (SGST in State Acts) and / or IGST paid on the said services to a supplier of taxable goods and / or services having same PAN as that of the office referred to above.
For the purposes of distributing the credit of CGST (SGST in State Acts) and / or IGST, Input Service Distributor shall be deemed to be a supplier of services.
A tax invoice issued by an 'Input Service Distributor' shall contain the following details-
* name, address and GS

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ancial company, the said supplier shall issue a tax invoice or any other document in lieu thereof, by whatever name called, whether or not serially numbered and whether or not containing the address of the recipient of taxable service but containing other information as required for a tax invoice.
Tax invoice of a GTA
Where the supplier of taxable service is a goods transport agency supplying services in relation to transportation of goods by road in a goods carriage, he shall issue a tax invoice or any other document in lieu thereof, by whatever named called-
* containing the gross weight of the consignment;
* name of the consignor and the consignee;
* registration number of goods carriage in which the goods are transported;
* details of goods transported;
* details of place of origin and designation;
* GSTIN of the person liable for paying tax whether as consignor or consignee or GST; and also
* contains other information as prescribed for tax invoice.
Tax invoice of

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Impact of GST on Real Estate Sector
By: – Atul Rathod
Goods and Services Tax – GST
Dated:- 4-10-2016

Impact of GST on Real Estate Sector:-
Background:-
Since the Model law of GST has come in public domain on 14.06.2016 and bill has been passed in Rajya Sabha and even expected to get effective from 01.04.2017. The purpose of this article is to give overview on impact of GST on Real Estate Sector due to change in Indirect tax structure. GST will play a major role in real estate sector as most of the purchases made by builder from unorganized persons, but in GST they need to purchase from organized persons.
This is 2nd in Series. (Impact of GST on various sectors)
Positive Impact:-
* One Tax: In Present structure of GST, there are various kinds of taxes such as Service tax, VAT, CST But in GST Regime there is only one tax i.e. GST however, there will be three parts such as CGST, SGST, IGST.
* Works Contract is deemed as “Supply of Service”: The major issues are i

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he department saying it is “works contract service” and not “Construction of residential complex service” or vice versa, whereas no such disputes is going to arise in GST. This will save litigation cost as part of the cases in litigation is around classification issues.
* No Cascading effect: In Current Regime of tax a builder is not eligible to take credit of CST on purchases made from interstate where as in GST the same is allowed as credit and there is no cascading effect to the extent of CST. However, Petrol & Diesel which is also key raw material of the Real estate has been kept out of the GST Regime, hence to the extent of the same cascading effect is going to be retain and the same will be added as cost. Further, there is no provision of exclusion of Property tax in GST Regime, may invoke basis fundamental of GST Regime.
* No Joint Charge In works contract service: In Present Regime of law, there is huge problems has been facing while calculating the liability where the part

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ake” unless it is contrary to law.
* No assessment by multiple tax authorities: Generally A Builder are facing many difficulties in handling the assessments done by the Separate authorities for VAT, Service Tax, CST, etc. In GST Regime it is expected that assessment will be done by one authority to the extent of limit of turnover, if the turnover exceed prescribed limit than assessment going to be done by another authority.
* Electronic Mode for Forms: In current Regime of tax there is very much manual filing of documents such as initial declaration and other forms but in GST Regime there will be less manual filing of documents and more through electronic mode. Further, the communication with department also could be through electronic mode.
* Compliance:-In GST Regime huge Compliance would be there however, it could be negative impact as well as positive.
Negative Impact
* Rate of tax: In current tax regime the consumer pays approximately 6% as Service tax and 5% as VAT which

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ereas in GST Regime all the free supplies given by Service receiver also must be included in Valuation for GST. Further, freebies given at the initial bookings also must be assessable to GST.
* Registration: Generally it is seen that Construction Company may have various sites in the country, in present regime he may take centralized registration and was adding the sites in registration certificate whereas in GST Regime construction company does not have any option and has to take registration in state wise which may increase the compliance cost.
* Reverse Charge on Goods: In Current Regime Of tax structure there was reverse charge on specified services but in case of GST even the reverse charge will be applicable on goods.
* Post supply Discount: If the Discount has to be given post supply than it must be known to both the parties at the time of supply or pre-supply and the proof of being known is the clause of discount must be there either in contract or agreement or offer etc.

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Highlights of Draft GST Rules & Formats which got approved by the GST Council
By: – Bimal jain
Goods and Services Tax – GST
Dated:- 3-10-2016

Dear Professional Colleague,
Highlights of Draft GST Rules & Formats which got approved by the GST Council
The Government is not leaving any stone unturned to roll out the much awaited indirect tax reform from April 1, 2017. In less than a week after the first meeting of the GST Council (on September 22-23, 2016), the Central Board of Excise and Customs (“CBEC”) on September 26, 2016, has unveiled the Draft Rules and formats under GST relating to registration, invoice and payment. Further on September 27, 2016, more GST Draft Rules and formats on return and refunds were also put in public domain (collectively referred to as “the Draft GST Rules”). Earlier, in the month of October, 2015, the Draft GST Business Processes on registration, payment, returns and refunds were put in public domain for public comments.
Draft GST Rules

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in its first meeting held on September 22-23, 2016 has given the power for assessment to Centre for assessing 11 lakh Service tax assessees who are currently assessed by them. However, there were divisions over ratifying/ approving the minutes of the first meeting of the GST Council after at least two States disagreed with the Centre's power for assessing these taxpayers in the new dispensation. The discussion was in conclusive and therefore it will continue in the next meeting.
The next meeting of GST Council will be held on October 18-20, 2016 to discuss on issues like Service tax assessment and the formula for calculating compensation to be paid to States in case of revenue shortfall as a result of implementation of the GST regime, possibly from April 1, 2017.GST rates, Draft GST law to be decided by November 22, 2016.
Key Highlights of the Draft GST Rules
Key highlights of the Draft GST Rules for registration, invoice, payment, return and refunds are stated below for easy d

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t, 20
2
GST REG-02
Acknowledgement
3
GST REG-03
Notice for Seeking Additional Information/ Clarification/ Documents relating to Application for<>
4
GST REG-04
Application for filing clarification/additional information/ document for <>
5
GST REG-05
Order of Rejection of Application for <>
6
GST REG-06
Registration Certificate issued under Section 19(8A) of the Goods and Services Tax Act, 20
7
GST REG-07
Application for Registration as Tax Deductor or Tax Collector at Source under Section 19(1) of the Goods and Service Tax Act, 20
8
GST REG-08
Order of Cancellation of Application for Registration as Tax Deductor or Tax Collector at Source under Section 21 of the Goods and Service Tax Act, 20.
9
GST REG-09
Application for Allotment of Unique ID to UN Bodies/Embassies /any other person under Section 19(6) of the Goods and Service Tax Act, 20.
10
GST REG-10
Application for Registration for Non Resident Taxable Person.
11
GST REG-11
Application for Amendment in

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ment of existing taxpayer
24
GST REG-24
Application for Cancellation of Registration for the Migrated Taxpayers not liable for registration under Goods and Services Tax Act 20
25
GST REG-25
Application for extension of registration period by Casual / Non-Resident taxable person.
26
GST REG-26
Form for Field Visit Report
* Online filling of application- Application for registration is to be made online either directly on the GSTN Portal or through Facilitation Centres (FC) notified by the Board or Commissioner.
* Verification of Information- For GST Registration, Part A of FORM GST REG-01 (application for registration under Section 19(1) of the Model GST Act) seeks to verify PAN through Income Tax Portal, mobile number and email i.d. through one-time password (OTP) sent to the said mobile number/email address.
* No fee for filling registration application-No fee is payable for filing application for registration as nothing regarding fee is mentioned under Draft Registrati

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a provisional basis and a certificate of registration incorporating the GSTIN therein, shall be made available on the Common Portal.
Thereafter, an application along with the information/documents specified therein shall be submitted electronically. Information asked for shall be furnished within a period of 6 months or such further period as may be extended by the Board or Commissioner. Failure to submit relevant information within prescribed time period can lead to cancellation of provisional registration.
* Physical verification of business premises- Verification of premises may be taken up by the proper officer after granting registration and verification report to be uploaded in Form GST REG-26.
Read more on the Draft Rules and Formats for Registration under GST at:
http://www.cbec.gov.in/resources//htdocs-cbec/gst/draft-registration-rules.pdf
http://www.cbec.gov.in/resources//htdocs-cbec/gst/draft-formats-under-registration-rules.pdf
II: Draft Rules and Formats for Paymen

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and the electronic cash ledger in FORM GST PMT-3.
* Mode of Payment of tax- Tax can be paid either through net banking, credit or debit card, NEFT/RTGS, Over the Counter (“OTC”) [OTC payment only up to ₹ 10,000per challan per tax period].
* Unique Identification Number (UIN)- A UIN shall be generated at the Common Portal for each debit or credit to the electronic cash or credit ledger. Generation of UIN for every transaction – to be correlated with tax liability register.
* 7 Forms for Payment prescribed -7 Forms for payment has been prescribed (Form GST PMT-1 to Form GST PMT -6 and Form GST PMT-2A), namely-
Sr No.
Form No.
Title of the Form
1.
Form GST PMT-1
Electronic Tax Liability Register of Taxpayer
(Part-I: Return related liabilities)
Electronic Tax Liability Register of Taxpayer
(Part-II: Other than return related liabilities)
2.
Form GST PMT-2
Electronic Credit Ledger
3.
Form GST PMT-2A
Order for re-credit of the amount to cash or credit ledger
4.

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oice Rules have 5 Rules viz. Tax invoice, Manner of Issuing Invoice, Bill of supply, Supplementary tax invoice and Credit or debit notes, Tax Invoice in special cases.
* Information to be filed in Tax Invoice-The Draft Invoice Rules provides that the tax invoice which is to be issued by supplier shall have an extensive list of information, numbering around 20 viz. name, address and GSTIN of the supplier, HSN code of goods or Accounting Code of services, rate of tax (CGST, SGST or IGST), place of delivery where the same is different from the place of supply etc.
Also, in case of exports information such as name and address of the recipient, address of delivery, name of the country of destination and number and date of application for removal of goods for export [ARE-1] are also required to be given.
* Manner of issuing invoice- The invoice shall be prepared in triplicate, in case of supply of goods, and in duplicate, in case of supply of services.
* Form for application for Elect

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s to be issued at the time of supply.
Read more on the Draft Rules and Formats of Invoice under GST at:
http://www.cbec.gov.in/resources//htdocs-cbec/gst/draft-invoice-rules.pdf
http://www.cbec.gov.in/htdocs-cbec/gst/draft-formats-under-invoice-rules.pdf
IV: Draft Rules and Formats for Return under GST
A return is a statement of specified particulars relating to business activity undertaken by the taxable person during a prescribed period. GST is a self-assessed destination based consumption taxation system. Thus, the submission and processing of return is an important link between the taxpayer and tax administration. Chapter – VIII of the Model GST Act contains the provisions regarding returns.
The Draft Rules of Return under GST (“the Draft Return Rules”) along with Return Formats have now been put on Public domain. The salient features of the Draft Return Rules and Formats are as follows-
* 25 Rules on Return prescribed- The Draft Return Rules have 25 Rules viz. Form and ma

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tward supplies and inward supplies along with the payment of amount of tax
6
Form GSTR-3A
Notice to a registered taxable person who fails to furnish return under section 27 and section 31
7
Form GSTR-4
Quarterly Return for compounding Taxable persons
8
Form GSTR-4A
Details of inward supplies made available to the recipient registered under composition scheme on the basis of FORM GSTR-1 furnished by the supplier
9
Form GSTR-5
Return for Non-Resident foreign taxable person
10
Form GSTR-6
ISD return
11
Form GSTR-6A
Details of inward supplies made available to the ISD recipient on the basis of FORM GSTR-1 furnished by the supplier
12
Form GSTR-7
Return for authorities deducting tax at source
13
Form GSTR-7A
TDS Certificate
14
Form GSTITC-1
Communication of acceptance, discrepancy or duplication of input tax credit claim
15
Form GSTR-8
Details of supplies effected through e-commerce operator and the amount of tax collected as required under sub-section (1) of s

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minimum 3 Monthly returns along with annual return.
* Forms for taxable person, composition dealer, Non- resident taxable person etc.-Distinct forms are prescribed for periodical returns by Regular Taxable Persons, composition dealers, Non-resident taxable persons, Persons who are required to deduct or collect tax at source etc.
* No time period for issuing SCN to non- filers of return-No time period has been prescribed for issuing Notice to non- filers of return under Rule 9 of the Draft Returns Rules.
* Annual return- Every registered taxable person shall furnish an annual return electronically in FORM GSTR-9 through the Common Portal either directly or from a FC, notified by the Board or Commissioner.
* Tax return preparers-The Draft Return Rules prescribe the conditions for enrolment as tax return preparers.
Read more on the Draft Rules and Formats for Return under GST at:
http://www.cbec.gov.in/resources//htdocs-cbec/gst/draft-return-rules-26092016.pdf
http://www.cbec.

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te by CA
GST RFD-02
Acknowledgement
GST RFD-03
Notice of Deficiency on Application for Refund
GST RFD-04
Provisional Refund Sanction Order
GST RFD-05
Refund Sanction/Rejection Order
GST RFD-06
Order for Complete adjustment of claimed Refund
GST RFD-07
Show cause notice for reject of refund application
GST RFD-08
Payment Advice
GST RFD-09
Order for Interest on delayed refunds
GST RFD-10
Refund application form for Embassy/International Organizations
* Form for Refund application- A common refund application is prescribed for all refunds arising on various instances which is to be made in Form GST RFD-1 electronically through the Common Portal either directly or from a FC notified by the Board or Commissioner.
* Refund relating to balance amount in electronic cash ledger- Claim for refund of balance amount in the electronic cash ledger is to be made through the return for the relevant tax period.
* Provisional refund- The Draft Refund Rules provides for a stipulat

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Traders Eligible to Pay GST on Brought Out Goods without doing any manufacturing or deemed manufacturing activity
Query (Issue) Started By: – yogesh Panchal Dated:- 3-10-2016 Last Reply Date:- 24-12-2016 Goods and Services Tax – GST
Got 6 Replies
GST
Dear All, GST Tax Experts,
In current central excise law the levy of excise duty on manufactured of finished goods , also manufactured only charged excise duty, the biggest litigation and issues are goods are manufactured, deemed manufacturer, Traders, Dealers & etc. then in the Trading business Trader purchase brought out goods, do not take cenvat credit of excise & service tax, do not take any manufacturing activity on the brought out goods, do not take excise registration and b

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duty, the biggest litigation and issues are goods are manufactured, deemed manufacturer, Traders, Dealers & etc. then in the Trading business Trader purchase brought out goods, do not take cenvat credit of excise & service tax, do not take any manufacturing activity on the brought out goods, do not take excise registration and brought out goods cleared without excise duty with adding profit margin, pay CST/VAT.
Now in GST Régimes above type of Trading business liable for take credit & pay GST on brought material which not doing any manufacturing or deemed manufacturing activity????,
(2 ) As per GST Model Law ” if the credit is not availed and not reflected in the return of march-2017″, as of now there is no provision in GST Model

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ASSESSMENT UNDER MODEL GST ACT
By: – DR.MARIAPPAN GOVINDARAJAN
Goods and Services Tax – GST
Dated:- 3-10-2016

Chapter XII of the model GST Act ('Act' for short) provides the procedure for assessment under GST regime. This chapter provides the following types of assessments-
* Self assessment;
* Provisional assessment;
* Best judgment assessment; and
* Summary assessment.
Self Assessment
Section 44 of the Act provides that every person registered under the Act shall himself assess the tax payable him for a tax period. After such assessment he shall file the returns required under Section 27.
Explanation to Section 44 provides that where goods received as an inward supply is returned by the recipient to the supplier within six months from the date of relevant invoice, the tax payable on such supplies shall be equal to the input tax credit availed earlier on such inward supply. This provision ensures that if the recipient returns the goods to the supplier within

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such surety or security as the proper officer may deem fit;
* The bond is binding the taxable person for payment of the different between the amount of tax as may be finally assessed and the amount of tax provisionally assessed;
* The proper officermay require such information for finalizing the assessment;
* On sufficient cause being shown and for reasons to be recorded in writing, the above period of six may be extended-
* By the Joint/Additional Commissioner for a further period not exceeding six months; and
* By the Commissioner for such further period as he may deem fit.
* The taxable person shall be liable to pay interest on any amount payable to the Central/State Government consequent to the order for final assessment at the rate specified from the first day after the due date of payment of tax in respect of the said goods and/or services till the date of actual payment, whichever such amount is paid before or after the issue of order for final assessment;
* If th

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passed by the proper officer shall automatically stand withdrawn.
Section 47 provides the procedure of making best judgment assessment if the taxable person fails to register himself with the authority. Section 47 provides that a proper officer can assess the tax liability and pass an order to his best judgment for the relevant tax period. Such an order must be passed within five years from the due date for filing the annual return for the financial year to which nonpayment of tax relates. Such order cannot be passed without giving a show cause notice to the taxable person and afford him a reasonable opportunity of being heard.
Summary assessment
Section 48 provides for the summary assessment to protect the interest of revenue when-
* The proper officer has evidence that a taxable person has incurred a liability to pay tax under the Act; and
* The proper officer believes that delay in passing an assessment order will adversely affect the interest of revenue.
Such order cannot

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FM: Government is working on a target date of 1st April, 2017 for the roll out of the Goods and Service Tax (GST) in the country
GST
Dated:- 30-9-2016

The Union Finance Minister Shri Arun Jaitley said that the Government is working on a target date of 1st April, 2017 for the roll out of the Goods and Services Tax (GST) in the country. He said that till 16th September, 2017, that is one year after the provisions of the Constitution (101st Amendment) Act, 2016 being brought into force, the Constitution empowers the Central Government to levy excise duty on manufacturing; and service tax on the supply of services. The Finance Minister said that similarly the Constitution Amendment Act empowers the State Governments to levy sales

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been created under Article 279A of the Constitution. The GST Council is a joint forum of the Centre and the States. The Council will take decisions on important issues like tax rates, exemption list and threshold limits etc.
Thereafter, the Members of Consultative Committee who participated in today's Meeting sought various clarifications with regard to GST Law and gave suggestions for its better implementation. Some of the major suggestions include need for absolute clarity and transparency with regard to where taxes will be collected, assessed and where the appeal will be filed in case of GST regime. The members said that it will be challenging task to tackle complex situation arising-out of implementation of GST law in a federal system.

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tial items from GST and moderate rate of taxation on other items which in turn will bring down the prices of common man consumption items as well as cost of living at large.
Along with the Union Finance Minister, Shri Arun Jaitley, Shri Santosh Kumar Gangwar, Minister of State for Finance, the Members of the Consultative Committee who participated in the today's Meeting include Shri Baijayanta Jai Panda, Shri Dilip Kumar Mansukhlal Gandhi, Shri Kailkesh Narayan Singh Deo, Shri Prabhatsinh Chauhan, Shri Ram Charitra Nishad, Shri Subhash Chandra Baheria and Shri Suresh Chanabassappa Angadi (all members of Lok Sabha); Shri Anil Desai, Shri Digvijaya Singh, Shri Rajkumar Doot and Shri Satish Chandra Misra (all members of Rajya Sabha) .
Among

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Minutes of the 2nd GST Council Meeting held on 30 September 2016
2nd GST Council Meeting Dated:- 30-9-2016 GST Council – Minutes
GST
Minutes of the 2nd GST Council Meeting (30 September 2016)
The second meeting of the GST Council (hereinafter referred to as 'the Council') was held in the Parliament House Annexe, New Delhi on 30 September 2016 under the Chairpersonship of the Hon'ble Union Finance Minister, Shri Arun Jaitley. The list of the Hon'ble Members of the GST Council who attended the meeting is at Annexure 1. The list of officers of the Centre and the States who attended the meeting is at Annexure 2.
2. In his opening remarks, the Chairperson of the Council welcomed all the members and enumerated the agenda items for the second meeting of the Council.
3. The following three agenda items were taken up for consideration:
1. Approval of the Draft Minutes of the 1st GST Council Meeting along with the Draft Rules for Conduct of Business
a.Draft Minute

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sals and adjustments), the Hon'ble Minister from Punjab stated that ITC reversals accounted for an additional revenue of Rs. 4,000 crore in his State. The Secretary to the Council observed that it was not desirable to subsume the amount related to ITC reversal for calculation of compensation as it was a distortion in the taxation system and only five States had such a provision in place. The Chairperson observed that if compensation was to be paid for ITC reversal, the Centre's rate of tax would go up and this would imply that taxpayers of all States would be paying extra to compensate five States. He further observed that as the issue regarding compensation for ITC reversal was not discussed in the first meeting of the Council, it would be inappropriate to insert it at the stage of confirmation of its Minutes. However, it was agreed that this issue could be further examined by a committee of officers.
6. The Hon'ble Minister from Uttar Pradesh stated that more clarity was

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n the last meeting, there was no agreement to count CST at the rate of 4% for computing compensation. It was agreed that this need not be incorporated in the Minutes of the 1st Meeting of the Council.
8. The Hon'ble Minister from Jammu and Kashmir stated that in paragraph 37 (ii) of the Minutes, the revenue to be compensated should cover exemptions and duties. The Secretary to the Council stated that these could not be included for compensation as the population of the whole of India should not be expected to bear the burden for exemptions given by different states. The Hon'ble Minister from Assam stated that the formula for compensation under V AT did not include exemptions as part of revenue and the same methodology should be adopted for GST. The Hon'ble Minister from Bihar also opposed the idea of putting exemptions in the compensation formula. The Chairperson reiterated that additional issues being discussed today could not be made part of the Minutes of an earlier mee

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work of the committee should cover the entire gamut of activities and functions to be performed from registration, scrutiny, etc. to enforcement. This committee should discuss how information-based enforcement powers should be exercised so that there was no parallel exercise of powers resulting in confusion and possible harassment.
11. The Hon'ble Minister from Tamil Nadu stated that there was no agreement as recorded in paragraph 47 (iii) (“All existing registered service providers irrespective of the value of turnover, for the present, shall continue to be administered by the Central tax administration”). He also expressed his strong reservation in respect of the cap of three years mentioned in paragraph 47. The Hon'ble Minister from Kerala also supported the view of the Hon'ble Minister from Tamil Nadu and stated that the Centre and the States should have concurrent power to administer Service Tax payers having turnover above Rs. 1.5 Crores. He also observed that State

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entre. Audit was proposed to be limited to 5% of the taxpayers on the basis of risk parameters. The issue decided was that the Centre would take up such audit for suppliers of services. He suggested that this issue should not be reopened.
13. The Chairperson recalled the discussions that took place in the 1st Meeting of the Council. He stated that the compromise arrived at was that in respect of goods, taxpayers with a turnover below Rs. 1.5 crore would continue to be administered by the States, as was the practice currently and for those with turnover above Rs. 1.5 crore, there would be concurrent jurisdiction of the Centre and States. In respect of Service Tax, he had stated that 11 lakh current assessees of Service Tax would continue to be administered by the Centre and this clearly implied that no division was proposed on the basis of Rs. 1.5 crore turnover. He also recalled that it was agreed that new Service Tax registrants would be allocated between the Centre and the Stat

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was in a spirit of cooperation. However, this cooperation was limited to the Centre administering the Service Tax assesses whose turnover was below Rs. 1.5 crore and in his understanding, the agreement was that Service Tax assessees with turnover above Rs. 1.5 crore would be administered jointly by the Centre and the States. The Hon'ble Minister from Chhattisgarh stated that in the Empowered Committee, the decision regarding no dual control on small taxpayers was only to protect small traders in goods and it was not meant for services and therefore, it would not be fair to raise the issue of Services at this stage. The Hon'ble Minister from Meghalaya stated that the States should administer taxpayers with turnover below Rs. 1.5 crore and those above Rs. 1.5 crore should be shared between the Centre and the States. He also stated that there was hardly any presence of Central Government officials in .his State. He suggested a time-frame to be fixed by when administration of taxpa

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assessees exclusively for the first five years. The Hon'ble Chief Minister of Puducherry also recalled that for Services, it was decided that all 11 lakh existing Service Tax assessees would be administered by the Central Government. The Secretary to the Council brought to the notice of the House that big service providers in sectors such as telecom, banking, information technology, etc. had been representing that they should have a single registration and if that was not possible, they could at least be given the second best comfort of being audited by only the Central administration for initial years. He pointed out that contribution of Services to the Gross Domestic Product (GDP) of the country was 56% and the administrative structure should be such that it does not affect the growth of the Services sector and thus, of the GDP.
16. The Hon'ble Minister from Tamil Nadu stated that transition period should not be for 3 years and that it should be limited to 6 months. The Hon

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o vertically divide the taxpayers between the Centre and States irrespective of any turnover threshold. The Hon'ble Minister from Assam stated that such an arrangement would create difficulty for small traders. The Hon'ble Ministers from Bihar and Kerala stated that in order to consider this new suggestion, it should be circulated as a separate agenda point.
18. Due to persistent differences, the Council decided to defer the approval of the minutes of the meeting in respect to agenda item 5 of the 1st meeting of the Council. It was suggested and agreed that a committee of officers would examine the issue further and the matter could then be taken up in the next Council meeting.
19. The sub-agenda (b) of the agenda item 1, i.e. Draft Rules of Procedures and Conduct of Business in the GST Council with the revisions suggested in the last meeting of the Council was taken up and the Council approved the revised version unanimously.
20. The Hon 'ble Minister from Jammu and Kas

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rate of 5 years or the best 3 out of 5 years should be taken to ascertain the growth rate'.
c. The last line of paragraph 22 to be replaced by 'The Hon'ble Minister from Odisha suggested that the best 3 out of 5 years be taken to ascertain growth rate and compensation payment be made monthly and adjusted at the end of the year on the basis of CAG-audited figures and also that the base year could be 2015-16'.
(ii) In relation to Agenda Item no. 5 of the first meeting, namely “Provision for cross-empowerment to ensure single interface under GST”, paragraph 39 to 46 where the discussions have been recorded was approved. In paragraph 47, the last sentence of the main body of the paragraph shall be replace by the following sentence: “Thereafter, the following modalities for single interface were discussed but discussions remained inconclusive.”
(iii) Adoption of modified Draft Rules of Procedures and Conduct of Business in the GST Council as contained in the agenda note

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ration. He mentioned that registration under GST was proposed to be PAN-based which would be difficult to comply with in his State as no Income Tax was payable in his State (as also in Nagaland). He further mentioned that in GST, in B2C (Business to Consumer) transactions, taxes would flow to the consuming states. However, as his State did not have big distributors or high-end retailers, people from his State bought goods from Assam, West Bengal, etc. and a mechanism was required to be devised to ensure that taxes paid for such purchases flowed to Arunachal, Pradesh. The Chairperson observed that this issue could be taken up for clarification in the next meeting of the Council.
23. The Members expressed their approval of the draft Rules relating to Registration, Payment, Return, Refund and Invoice, Debit/Credit Notes. The Secretary to the Council suggested that the Draft Rules may be approved with an understanding that minor changes may be permitted, if required, due to suggestions fr

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arding the treatment of such tax incentive schemes under the GST regime. He observed that one option could be to 'grandfather' such schemes and provide for a budgetary apportionment in the State and the Central budgets for reimbursing the tax paid to those units which enjoyed tax exemption up to a specified period. However, while' grandfathering' any such scheme, it would need to be kept in mind that unlike VAT and the CST which were origin-based taxes, GST was a destination-based tax and an unconditional reimbursement scheme could lead to double outflow for the origin-state – one by way of transfer of tax to the destination State and the other by way of reimbursement to the supplier. Therefore, the States would need to be careful while devising any reimbursement scheme and care could be taken that such reimbursement was limited for supplies made within the State.
26. The Hon'ble Deputy Chief Minister of Gujarat alluded to examine possible legal complications. The

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for reimbursements relating to tax incentive schemes and that States would need to make their own budgetary provisions for the same.
28. The Hon'ble Minister from Uttarakhand stated that the Government of India had given an area-based exemption for 10 years and that such exemptions were to continue up to 2020. She observed that the Centre must reimburse such units for the Central taxes as jobs of more than one lakh workers were at stake. The Hon'ble Minister from Jammu and Kashmir stated that his State was in a similar situation as Uttarakhand. The Chairperson observed that once incentive schemes were withdrawn, the taxes paid would be accounted for in the Consolidated Fund of India and 42% of the amount would be devolved to the States. The Centre, therefore, could be expected to only reimburse the units out ofthe remaining 58% of the fund which was not part of the devolution and the States would also need to correspondingly reimburse such units out of the share of revenue rec

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he previous meeting.
31. The meeting ended with a vote of thanks to the Chair.
(Arun Jaitley)
Chairperson, GST Council
=============
Document 1
JAYNA BOOK DEPOT
Estd. 1949
JAYNA
MINUTE BOOK
Annexure 1 (List of the Hon'ble Members of the GST Council who attended the Meeting)
S. No.
Centre/State/UT
Name of Minister
1
Government of India
Shri Arun Jaitley
2
Government of India
Shri Santosh Kumar Gangwar
Designation
Union Minister of Finance and
Corporate Affairs
Union Minister of State for
Finance
Chief Minister
3
Puducherry
Shri V Narayanasamy
4
Arunachal Pradesh
Shri Chowna Mein
Deputy Chief Minister
5
Goa
Shri Francis D'Souza
Deputy Chief Minister
6
Gujarat
Shri Nitinbhai Patel
Deputy Chief Minister
7
Andhra Pradesh
Shri
Ramakrishnudu
8
Assam
Shri Himanta Biswa Sarma
9
Bihar
10
Chhattisgarh
11
Haryana
Shri Bijendra Prasad Yadav
Shri Amar Agrawal
Captain Abhimanyu Singh
12
Himachal Pradesh
Shri Prakash Chaudhary
Yanamala Minister

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nt,
Development and Housing
Minister for School Education
& Sports and Youth Welfare
Minister for Finance
Minister for
Education
Development
and
Vocational
Skill
24
Uttarakhand
Dr. Indira Hridayesh
Minister of Finance
25
West Bengal
Dr. Amit Mitra
Minister for Finance and Excise
Page 10 of 13
JAYNA BOOK DEPOT
Estd. 1949
JAYNA
MINUTE BOOK
Annexure 2 (List of officers from the Centre and States)
Name of Officer
S No.
Centre/State/UT
1.
Govt. of India
Shri Hasmukh Adhia
2.
Govt. of India
Shri Najib Shah
3.
Govt. of India
Shri Ram Tirath
4.
Govt. of India
Shri B.N. Sharma
5.
Govt. of India
Shri Arun Goyal
6.
Govt. of India
Shri Vivek Johri
7.
Govt. of India
8.
Govt. of India
Shri P.K. Mohanty
Shri Upender Gupta
9.
Govt. of India
Shri Udai Singh Kumawat
10.
Govt. of India
Shri Amitabh Kumar
Ms. Aarti Saxena
11.
Govt. of India
12.
Govt. of India
Shri Paras Sankhla
13.
GST Council
Shri Arun Goyal
14. GST Council
15. GST Counc

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Commissioner, GST Council
Commissioner, GST Council
Joint Commissioner, GST Council
OSD, GST Council
OSD, GST Council
Commissioner, Commercial Taxes
Additional Commissioner
Secretary, Tax & Excise
Finance Commissioner
Commissioner, Commercial Taxes
Principal Secretary, Commercial Tax
Additional Secretary, Commercial
Tax
Personal Secretary to the Minister
Secretary, Finance & Commercial
Tax
Commissioner, Commercial Taxes
Commissioner, VAT
CHAIRMAN'S
INITIALS
CHAIRMAN'S
INITIALS
MINUTE BOOK
S No.
Centre/State/UT
30.
Goa
31. Gujarat
Name of Officer
Shri Dipak Bandekar
Dr. P. D. Vaghela
Designation
Commissioner, Commercial Taxes
Commissioner, Commercial Taxes
32.
Gujarat
Ms. Mona Khandar
33.
Haryana
Shri Sanjeev Kaushal
34. Haryana
35.
Haryana
36.
Himachal Pradesh
37.
Himachal Pradesh
Jammu &
38.
Kashmir
Jammu &
39.
Kashmir
Shri Parvaiz Khateeb
Shri Shyamal Misra
Shri Hanuman Singh
Shri Pushpender Rajput
Shri Sanjay Bhardhao
Shri

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dey
Shri Saswat Mishra
Shri Sahdev Sahoo
Dr. V Candavelou
Shri G Srinivas
Shri DP Reddy
Shri Rajat Agarwal
Shri Supreet Gulati
Shri Praveen Gupta
Shri Alok Gupta
Page 12 of 13
Commissioner, Commercial Taxes
Finance
Commissioner, Commercial Taxes
Deputy Commissioner, Commercial
Taxes
Personal Assistant
Additional Chief Secretary, Finance
Joint Commissioner, GST
Commissioner, Taxes
Commissioner, Commercial Taxes
ACT
Assistant Commissioner, Taxes
Superintendent, Taxes
Commissioner, Commercial Taxes
Joint Commissioner of Taxes
Principal Secretary, Finance
Commissioner, Commercial Taxes
Joint Commissioner
Secretary, Finance & Commercial
Tax
Commissioner, Commercial Taxes
Additional Chief Secretary, Taxation
Excise & Taxation Commissioner
Additional Commissioner
Secretary, Revenue
Commissioner, Commercial Taxes
JAYNA BOOK DEPOT
Estd. 1949
MINUTE BOOK
Name of Officer
Shri Bikash Diyali
Dr. C Chandramouli
Shri D Soundararajapandian
Shri Ajay Misra
S

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