Goods and Services Tax

Rule 5 – Final Rules (Draft) – Composition Rules – GST – Composition Rules – Final Draft Rules 18-5-2017 – Rule 5 – 5. Rate of tax of the composition levy The category of registered persons, eligible for composition levy under section 10 and these rules, specified in column (2) of the Table below shall pay tax under section 10 at the rate specified in column (3) of the said Table: Sl No. Category of registered persons Rate of tax (1) (2) (3) 1. Manufacturers, other than manufacturers of such go

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Rule 4 – Final Rules (Draft) – Composition Rules – GST – Composition Rules – Final Draft Rules 18-5-2017 – Rule 4 – 4 Validity of composition levy (1) The option exercised by a registered person to pay tax under section 10 shall remain valid so long as he satisfies all the conditions mentioned in the said section and these rules. (2) The person referred to in sub-rule (1) shall be liable to pay tax under sub-section (1) of section 9 from the day he ceases to satisfy any of the conditions mentioned in section 10 or these rules and shall issue tax invoice for every taxable supply made thereafter and he shall also file an intimation for withdrawal from the scheme in FORM GST CMP-04 within seven days of occurrence of such event. (3) The regist

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order in FORM GST CMP-07 within thirty days of receipt of such reply, either accepting the reply, or denying the option to pay tax under section 10 from the date of option or from the date of the event concerning such contravention, as the case may be. (6) Every person who has furnished an intimation under sub-rule (2) or filed an application for withdrawal under sub-rule (3) or a person in respect of whom an order of withdrawal of option has been passed in FORM GST CMP-07 under sub-rule (5), may electronically furnish at the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner, a statement in FORM GST ITC-01 containing details of the stock of inputs and inputs contained in semi-finished or finished

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Rule 3 – Final Rules (Draft) – Composition Rules – GST – Composition Rules – Final Draft Rules 18-5-2017 – Rule 3 – 3. Conditions and restrictions for composition levy (1) The person exercising the option to pay tax under section 10 shall comply with the following conditions: (a) he is neither a casual taxable person nor a non-resident taxable person; (b) the goods held in stock by him on the appointed day have not been purchased in the course of inter-State trade or commerce or imported from a place outside India or received from his branch situated outside the State or from his agent or principal outside the State, where the option is exercised under sub-rule (1) of rule 1; (c) the goods held in stock by him have not been purchased from

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Rule 2 – Final Rules (Draft) – Composition Rules – GST – Composition Rules – Final Draft Rules 18-5-2017 – Rule 2 – 2. Effective date for composition levy (1) The option to pay tax under section 10 shall be effective from the beginning of the financial year, where the intimation is filed under sub-rule (3) of rule 1 and the appointed day where intimation is filed under sub-rule (1) of the said rule. (2) The intimation under sub-rule (2) of rule 1 shall be considered only after grant of registra

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Rule 1 – Final Rules (Draft) – Composition Rules – GST – Composition Rules – Final Draft Rules 18-5-2017 – Rule 1 – Chapter COMPOSITION RULES 1. Intimation for composition levy (1) Any person who has been granted registration on a provisional basis under sub-rule (1) of rule Registration.17 and who opts to pay tax under section 10, shall electronically file an intimation in FORM GST CMP-01, duly signed or verified through electronic verification code (EVC), on the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner, prior to the appointed day, but not later than thirty days after the said day, or such further period as may be extended by the Commissioner in this behalf: Provided that where the inti

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ion to pay tax under the aforesaid section is exercised and shall furnish the statement in FORM GST ITC-3 in accordance with the provisions of sub-rule (4) of rule ITC.9 within sixty days from the commencement of the relevant financial year, (4) Any person who files an intimation under sub-rule (1) to pay tax under section 10 shall furnish the details of stock, including the inward supply of goods received from unregistered persons, held by him on the day preceding the date from which he opts to pay tax under the said section, electronically, in FORM GST CMP-03, on the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner, within sixty days of the date from which the option for composition levy is exer

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Rule 8 – Final Rules (Draft) – Determination of Value of Supply – GST – Determination of Value of Supply – Final Draft Rules 18-5-2017 – Rule 8 – 8. Rate of exchange of currency, other than Indian rupees, for determination of value The rate of exchange for determination of value of taxable goods or services or both shall be the applicable reference rate for that currency as determined by the Reserve Bank of India on the date of time of supply in respect of such supply in terms of section 12 or,

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Rule 7 – Final Rules (Draft) – Determination of Value of Supply – GST – Determination of Value of Supply – Final Draft Rules 18-5-2017 – Rule 7 – 7. Value of supply of services in case of pure agent Notwithstanding anything contained in these rules, the expenditure or costs incurred by a supplier as a pure agent of the recipient of supply shall be excluded from the value of supply, if all the following conditions are satisfied, namely:- (i) the supplier acts as a pure agent of the recipient of the supply, when he makes payment to the third party on authorization by such recipient; (ii) the payment made by the pure agent on behalf of the recipient of supply has been separately indicated in the invoice issue

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procured; and (d) receives only the actual amount incurred to procure such goods or services in addition to the amount received for supply he provides on his own account . Illustration. Corporate services firm A is engaged to handle the legal work pertaining to the incorporation of Company B. Other than its service fees, A also recovers from B, registration fee and approval fee for the name of the company paid to Registrar of the Companies. The fees charged by the Registrar of the companies registration and approval of the name are compulsorily levied on B. A is merely acting as a pure agent in the payment of those fees. Therefore, A s recovery of such expenses is a disbursement and not part of the value of supply made

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Rule 6 – Final Rules (Draft) – Determination of Value of Supply – GST – Determination of Value of Supply – Final Draft Rules 18-5-2017 – Rule 6 – 6. Determination of value in respect of certain supplies (1) Notwithstanding anything contained in these rules, the value in respect of supplies specified below shall, at the option of the supplier, be determined in the manner provided hereinafter. (2) The value of supply of services in relation to purchase or sale of foreign currency, including money changing, shall be determined by the supplier of service in the following manner:- (a) For a currency, when exchanged from, or to, Indian Rupees (INR), the value shall be equal to the difference in the buying rate or the selling rate, as the case may be, and the Reserve Bank of India (RBI) reference rate for that currency at that time, multiplied by the total units of currency: Provided that in case where the RBI reference rate for a currency is not

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pees; (ii) one thousand rupees and half of a per cent. of the gross amount of currency exchanged for an amount exceeding one lakh rupees and up to ten lakh rupees; and (iii) five thousand and five hundred rupees and one tenth of a per cent. of the gross amount of currency exchanged for an amount exceeding ten lakh rupees, subject to maximum amount of sixty thousand rupees. (3) The value of supply of services in relation to booking of tickets for travel by air provided by an air travel agent, shall be deemed to be an amount calculated at the rate of five percent. of the basic fare in the case of domestic bookings, and at the rate of ten per cent. of the basic fare in the case of international bookings of passage for travel by air. Explanation – For the purposes of this sub-rule, the expression basic fare means that part of the air fare on which commission is normally paid to the air travel agent by the airline. (4) The value of supp

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ich does not change the nature of the goods and where no input tax credit has been availed on purchase of such goods the value of supply shall be the difference between the selling price and purchase price and where the value of such supply is negative it shall be ignored: Provided that the purchase value of goods repossessed from a defaulting borrower, who is not registered, for the purpose of recovery of a loan or debt shall be deemed to be the purchase price of such goods by the defaulting borrower reduced by five percentage points for every quarter or part thereof, between the date of purchase and the date of disposal by the person making such repossession. (6) The value of a token, or a voucher, or a coupon, or a stamp (other than postage stamp) which is redeemable against a supply of goods or services or both shall be equal to the money value of the goods or services or both redeemable against such token, voucher, coupon, or stamp. (7)The value of taxable se

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Rule 5 – Final Rules (Draft) – Determination of Value of Supply – GST – Determination of Value of Supply – Final Draft Rules 18-5-2017 – Rule 5 – 5. Residual method for determination of value of supply of goods or services or both Where the value of supply of goods or services or both cannot be determined under rules 1 to 4, the same shall be determined using reasonable means consistent with the principles and general provisions of section 15 and these rules: Provided tha

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Rule 4 – Final Rules (Draft) – Determination of Value of Supply – GST – Determination of Value of Supply – Final Draft Rules 18-5-2017 – Rule 4 – 4. Value of supply of goods or services or both based on cost Where the value of a supply of goods or services or both is not determinable by any of the preceding rules, the value shall be one hundred and ten percent of the cost of production or manufacture or cost of acquisition of such goods or cost of provision of such services.

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Rule 3 – Final Rules (Draft) – Determination of Value of Supply – GST – Determination of Value of Supply – Final Draft Rules 18-5-2017 – Rule 3 – 3. Value of supply of goods made or received through an agent The value of supply of goods between the principal and his agent shall,- (a) be the open market value of the goods being supplied, or at the option of the supplier, be ninety percent of the price charged for the supply of goods of like kind and quality by the recipien

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Rule 2 – Final Rules (Draft) – Determination of Value of Supply – GST – Determination of Value of Supply – Final Draft Rules 18-5-2017 – Rule 2 – 2. Value of supply of goods or services or both between distinct or related persons, other than through an agent The value of the supply of goods or services or both between distinct persons as specified in sub-section (4) and (5) of section 25 or where the supplier and recipient are related, other than where the supply is made through an

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Rule 1 – Final Rules (Draft) – Determination of Value of Supply – GST – Determination of Value of Supply – Final Draft Rules 18-5-2017 – Rule 1 – Chapter ___ Determination of Value of Supply 1. Value of supply of goods or services where the consideration is not wholly in money Where the supply of goods or services is for a consideration not wholly in money, the value of the supply shall, (a) be the open market value of such supply; (b) if open market value is not available, be the sum total of consideration in money and any such further amount in money as is equivalent to the consideration not in money if such amount is known at the time of supply; (c) if the value of suppl

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Rule 4 – Final Rules (Draft) – PAYMENT OF TAX – GST – PAYMENT OF TAX – Final Draft Rules 18-5-2017 – Rule 4 – 4. Identification number for each transaction (1) A unique identification number shall be generated at the Common Portal for each debit or credit to the electronic cash or credit ledger, as the case may be. (2) The unique identification number relating to discharge of any liability shall be indicated in the corresponding entry in the electronic liability register. (3) A unique identific

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Rule 3 – Final Rules (Draft) – PAYMENT OF TAX – GST – PAYMENT OF TAX – Final Draft Rules 18-5-2017 – Rule 3 – 3. Electronic Cash Ledger (1) The electronic cash ledger under sub-section (1) of section 49 shall be maintained in FORM GST PMT-05 for each person, liable to pay tax, interest, penalty, late fee or any other amount, on the Common Portal for crediting the amount deposited and debiting the payment therefrom towards tax, interest, penalty, fee or any other amount. (2) Any person, or a person on his behalf, shall generate a challan in FORM GST PMT-06 on the Common Portal and enter the details of the amount to be deposited by him towards tax, interest, penalty, fees or any other amount. (3) The deposit under sub-rule (2) shall be made

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recover outstanding dues from any person, whether registered or not, including recovery made through attachment or sale of movable or immovable properties; (c) Proper officer or any other officer authorized for the amounts collected by way of cash, cheque or demand draft during any investigation or enforcement activity or any ad hoc deposit: Provided further that the challan in FORM GST PMT-06 generated at the Common Portal shall be valid for a period of fifteen days. Explanation.- For making payment of any amount indicated in the challan, the commission, if any, payable in respect of such payment shall be borne by the person making such payment. (4) Any payment required to be made by a person who is not registered under the Act, shall be m

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credited to the electronic cash ledger of the person on whose behalf the deposit has been made and the Common Portal shall make available a receipt to this effect. (8) Where the bank account of the person concerned, or the person making the deposit on his behalf, is debited but no Challan Identification Number (CIN) is generated or generated but not communicated to the Common Portal, the said person may represent electronically in FORM GST PMT-07 through the Common Portal to the Bank or electronic gateway through which the deposit was initiated. (9) Any amount deducted under section 51 or collected under section 52 and claimed in FORM GSTR-02 by the registered taxable person from whom the said amount was deducted or, as the case may be, co

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Rule 2 – Final Rules (Draft) – PAYMENT OF TAX – GST – PAYMENT OF TAX – Final Draft Rules 18-5-2017 – Rule 2 – 2. Electronic Credit Ledger (1) The electronic credit ledger shall be maintained in FORM GST PMT-02 for each registered person eligible for input tax credit under the Act on the Common Portal and every claim of input tax credit under the Act shall be credited to the said Ledger. (2) The electronic credit ledger shall be debited to the extent of discharge of any liability in accordance with section 49. (3) Where a registered person has claimed refund of any unutilized amount from the electronic credit ledger in accordance with the provisions of section 54, the amount to the extent of the claim shall be debited in the said ledger. (4

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Rule 1 – Final Rules (Draft) – PAYMENT OF TAX – GST – PAYMENT OF TAX – Final Draft Rules 18-5-2017 – Rule 1 – Chapter- PAYMENT OF TAX 1. Electronic Liability Register (1) The electronic liability register specified under sub-section (7) of section 49 shall be maintained in FORM GST PMT-01 for each person liable to pay tax, interest, penalty, late fee or any other amount on the Common Portal and all amounts payable by him shall be debited to the said register. (2) The electronic liability register of the person shall be debited by:- (a) the amount payable towards tax, interest, late fee or any other amount payable as per the return furnished by the said person; (b) the amount of tax, interest, penalty or any other amount payable as determin

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able under section 10 any amount payable towards interest, penalty, fee or any other amount under the Act shall be paid by debiting the electronic cash ledger maintained as per rule 3 and the electronic liability register shall be credited accordingly. (5) Any amount of demand debited in the electronic liability register shall stand reduced to the extent of relief given by the appellate authority or Appellate Tribunal or court and the electronic tax liability register shall be credited accordingly. (6) The amount of penalty imposed or liable to be imposed shall stand reduced partly or fully, as the case may be, if the taxable person makes the payment of tax, interest and penalty specified in the show cause notice or demand order and the ele

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Rule 8 – Final Rules (Draft) – REFUND – GST – REFUND – Final Draft Rules 18-5-2017 – Rule 8 – 8. Consumer Welfare Fund (1) All credits to the Consumer Welfare Fund shall be made under sub-rule (4) of rule 4. (2) Any amount, having been credited to the Fund, ordered or directed as payable to any claimant by orders of the proper officer, appellate authority or Appellate Tribunal or court, shall be paid from the Fund. (3) Any utilisation of amount from the Consumer Welfare Fund under sub-section (1) of section 58 shall be made by debiting the Consumer Welfare Fund account and crediting the account to which the amount is transferred for utilisation. (4) The [Central/State] Government shall, by an order, constitute a Standing Committee with a C

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y the Bureau of Indian Standards to be engaged for a period of five years in viable and useful research activity which has made, or is likely to make, significant contribution in formulation of standard mark of the products of mass consumption, the Central Government or the State Government may make an application for a grant from the Consumer Welfare Fund: Provided that a consumer may make application for reimbursement of legal expenses incurred by him as a complainant in a consumer dispute, after its final adjudication. (7) All applications for grant from the Consumer Welfare Fund shall be made by the applicant Member Secretary, but the Committee shall not consider an application, unless it has been inquired into in material details and r

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re any applicant, in case of any default, or suppression of material information on his part, to refund in lump-sum, the sanctioned grant to the Committee, and to be subject to prosecution under the Act; (e) to recover any sum due from any applicant in accordance with the provisions of the Act; (f) to require any applicant, or class of applicants to submit a periodical report, indicating proper utilisation of the grant; (g) to reject an application placed before it on account of factual inconsistency, or inaccuracy in material particulars; (h) to recommend minimum financial assistance, by way of grant to an applicant, having regard to his financial status, and importance and utility of nature of activity under pursuit, after ensuring that t

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Rule 7 – Final Rules (Draft) – REFUND – GST – REFUND – Final Draft Rules 18-5-2017 – Rule 7 – 7. Refund of tax to certain persons (1) Any person eligible to claim refund of tax paid by him on his inward supplies as per notification issued section 55 shall apply for refund in FORM GST RFD-10 once in every quarter, electronically on the Common Portal, either directly or from a Facilitation Centre notified by the Commissioner, along with a statement of inward supplies of goods or services or both in FORM GSTR-11, prepared on the basis of statement of outward supplies furnished by corresponding suppliers in FORM GSTR-1. (2) An acknowledgement for receipt of the application for refund shall be issued in FORM GST RFD-02. (3) Refund of tax paid b

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Rule 6 – Final Rules (Draft) – REFUND – GST – REFUND – Final Draft Rules 18-5-2017 – Rule 6 – 6. Order sanctioning interest on delayed refunds Where any interest is due and payable to the applicant under section 56, the proper officer shall make an order along with a payment advice in FORM GST RFD-05, specifying therein the amount of refund which is delayed, the period of delay for which interest is payable and the amount of interest payable, and such amount of interest shall be electronically

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Rule 5 – Final Rules (Draft) – REFUND – GST – REFUND – Final Draft Rules 18-5-2017 – Rule 5 – 5. Credit of the amount of rejected refund claim (1) Where any deficiencies have been communicated under sub-rule (3) of rule 2, the amount debited under sub-rule (3) of rule 1 shall be re-credited to the electronic credit ledger. (2) Where any amount claimed as refund is rejected under rule 4, either fully or partly, the amount debited, to the extent of rejection, shall be re-credited to the electroni

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Rule 4 – Final Rules (Draft) – REFUND – GST – REFUND – Final Draft Rules 18-5-2017 – Rule 4 – 4. Order sanctioning refund (1) Where, upon examination of the application, the proper officer is satisfied that a refund under sub-section (5) of section 54 is due and payable to the applicant, he shall make an order in FORM GST RFD-06, sanctioning the amount of refund to which the applicant is entitled, mentioning therein the amount, if any, refunded to him on a provisional basis under sub-section (6) of section 54, amount adjusted against any outstanding demand under the Act or under any existing law and the balance amount refundable: Provided that in cases where the amount of refund is completely adjusted against any outstanding demand under t

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D-09 within fifteen days of the receipt of such notice and after considering the reply, make an order in FORM GST RFD-06, sanctioning the amount of refund in whole or part, or rejecting the said refund claim and the said order shall be made available to the applicant electronically and the provision of sub-rule (1) shall, mutatis mutandis, apply to the extent refund is allowed: Provided that no application for refund shall be rejected without giving the applicant a reasonable opportunity of being heard. (4) Where the proper officer is satisfied that the amount refundable under sub-rule (1) or (2) is payable to the applicant under sub-section (8) of section 54, he shall make an order in FORM GST RFD-06 and issue a payment advice in FORM GST

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Rule 3 – Final Rules (Draft) – REFUND – GST – REFUND – Final Draft Rules 18-5-2017 – Rule 3 – 3. Grant of provisional refund (1) The provisional refund in accordance with the provisions of sub-section (6) of section 54 shall be granted subject to the condition that the person claiming refund has, during any period of five years immediately preceding the tax period to which the claim for refund relates, not been prosecuted for any offence under the Act or under an existing law where the amount o

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Rule 2 – Final Rules (Draft) – REFUND – GST – REFUND – Final Draft Rules 18-5-2017 – Rule 2 – 2. Acknowledgement (1) Where the application relates to a claim for refund from the electronic cash ledger, an acknowledgement in FORM GST RFD-02 shall be made available to the applicant through the Common Portal electronically, clearly indicating the date of filing of the claim for refund and the time period specified in sub-section (7) of section 54 shall be counted from such date of filing. (2) The application for refund, other than claim for refund from electronic cash ledger, shall be forwarded to the proper officer who shall, within fifteen days of filing of the said application, scrutinize the application for its completeness and where the

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Rule 1 – Final Rules (Draft) – REFUND – GST – REFUND – Final Draft Rules 18-5-2017 – Rule 1 – Chapter- REFUND 1. Application for refund of tax, interest, penalty, fees or any other amount (1) Any person, except the persons covered by notification issued under section 55, claiming refund of any tax, interest, penalty, fees or any other amount paid by him, may file an application electronically in FORM GST RFD-01 through the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner: Provided that any claim for refund relating to balance in the electronic cash ledger in accordance with the provisions of sub-section (6) of section 49 may also be made through the return furnished for the relevant tax period in FORM GSTR-3 or FORM GSTR-4 or FORM GSTR-7, as the case may be: Provided further that in case of export of goods, application for refund shall be filed only after the export manifest or an export report, as the case may be, is delivered under section

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of registration, shall be claimed in the last return required to be furnished by him. (2) The application under sub-rule (1) shall be accompanied by any of the following documentary evidences, as applicable, to establish that a refund is due to the applicant: (a) the reference number of the order and a copy of the order passed by the proper officer or an appellate authority or Appellate Tribunal or court resulting in such refund or reference number of the payment of the amount specified in sub-section (6) of section 107 and sub-section (8) of section 112 claimed as refund; (b) a statement containing the number and date of shipping bills or bills of export and the number and date of relevant export invoices, in a case where the refund is on account of export of goods; (c) a statement containing the number and date of invoices and the relevant Bank Realization Certificates or Foreign Inward Remittance Certificates, as the case may be, in a case where the refund is on account of export o

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of supply of goods or services made to a Special Economic Zone unit or a Special Economic Zone developer; (g) a statement containing the number and date of invoices along with such other evidence as may be notified in this behalf, in a case where the refund is on account of deemed exports; (h) a statement in Annex 1 of FORM GST RFD-01 containing the number and date of invoices received and issued during a tax period in a case where the claim pertains to refund of any unutilized input tax credit under sub-section (3) of section 54 where the credit has accumulated on account of rate of tax on inputs being higher than the rate of tax on output supplies, other than nil-rated or fully exempt supplies; (i) the reference number of the final assessment order and a copy of the said order in a case where the refund arises on account of finalisation of provisional assessment; (j) a statement showing the details of transactions considered as intra-State supply but which is subsequently held to be

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(f) of sub-section (8) of section 54; Explanation.- For the purposes of this rule, (i) in case of refunds referred to in clause (c) of sub-section (8) of section 54, invoice means invoice conforming to the provisions contained in section 31 ; (ii) where the amount of tax has been recovered from the recipient, it shall be deemed that the incidence of tax has been passed on to the ultimate consumer. (3) Where the application relates to refund of input tax credit, the electronic credit ledger shall be debited by the applicant in an amount equal to the refund so claimed. (4) In case of zero-rated supply of goods or services or both without payment of tax under bond or letter of undertaking in accordance with the provisions of sub-section (3) of section 16 of the Integrated Goods and Services Tax Act, refund of input tax credit shall be granted as per the following formula: Refund Amount = (Turnover of zero-rated supply of goods + Turnover of zero-rated supply of services) x Net ITC &divide

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