GST – States – (4-Q/2017) – Dated:- 29-6-2018 – FINANCE SECRETARIAT NOTIFICATION (4-Q/2017) No. FD 47 CSL, 2017, Bengaluru, dated: 29/06/2018 In exercise of the powers conferred by section 164 of the Karnataka Goods and Services Tax Act, 2017 (Karnataka Act 27 of 2017), on the recommendation of the GST Council the Government of Karnataka hereby makes the following rules further to amend the Karnataka Goods and Services Tax Rules, 2017, namely:- RULES 1. Title and commencement.- (1) These rules may be called the Karnataka Goods and Services Tax (Seventh Amendment) Rules, 2018. (2) Save as otherwise provided, they shall come into force on the date of their publication in the Official Gazette. 2. Amendment of rule 37.- In the Karnataka Goods and Services Tax Rules, 2017 (hereinafter referred to as the said rules), in rule 37, in sub-rule (1), after the first proviso, the following proviso shall be inserted, namely:- Provided further that, the value of supplies on account of any amount ad
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hapter XVI. ; 4. Amendment of rule 83.- In rule 83 of the said rules, in sub-rule (3), in the second proviso, for the words one year , the words eighteen months shall be substituted. 5. Amendment of rule 89.- In rule 89 of the said rules, for sub-rule (5), the following shall be substituted, with effect from 1st July, 2017, namely:- (5) In the case of refund on account of inverted duty structure, refund of input tax credit shall be granted as per the following formula:- Maximum Refund Amount = {(Turnover of inverted rated supply of goods and services) x Net ITC + Adjusted Total Turnover} – tax payable on such inverted rated supply of goods and services. Explanation:- For the purposes of this sub-rule, the expressions, (a) Net ITC shall mean input tax credit availed on inputs during the relevant period other than the input tax credit availed for which refund is claimed under sub-rules (4A) or (4B) or both; and (b) Adjusted Total turnover shall have the same meaning as assigned to it in
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Central Act 15 of 2017), shall be deposited in the Fund. 7. Amendment of rule 133.- In rule 133 of the said rules, for sub-rule (3), the following shall be substituted, namely:- (3) Where the Authority determines that a registered person has not passed on the benefit of the reduction in the rate of tax on the supply of goods or services or the benefit of input tax credit to the recipient by way of commensurate reduction in prices, the Authority may order, (a) reduction in prices; (b) return to the recipient, an amount equivalent to the amount not passed on by way of commensurate reduction in prices along with interest at the rate of eighteen percent. from the date of collection of the higher amount till the date of the return of such amount or recovery of the amount including interest not returned, as the case may be; (c) the deposit of an amount equivalent to fifty per cent. of the amount determined under the above clause in the Fund constituted under section 57 and the remaining fift
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e being shown, extend the time for recording of the final report in Part B of FORM EWB-03, for a further period not exceeding three days. Explanation.- The period of twenty four hours or, as the case may be, three days shall be counted from the midnight of the date on which the vehicle was intercepted. ; 10. Amendment of rule 142.- In rule 142 of the said rules, in sub-rule (5), after the words and figures of section 76 , the words and figures or section 129 or section 130 shall be inserted; 11. Amendment of FORM GSTR-4.- In FORM GSTR-4 of the said rules, in the Instructions, for serial number 10 and the entries relating thereto, the following shall be substituted, namely: 10. For the tax periods July, 2017 to September, 2017, October, 2017 to December, 2017, January, 2018 to March, 2018 and April, 2018 to June, 2018, serial 4A of Table 4 shall not be furnished. ; 12. Amendment of FORM GST PCT-01.- In FORM GST PCT-01 of the said rules, in PART B,- (1) against serial number 4, after ent
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ails of invoices of outward supplies issued Tax paid on outward supplies GSTIN of the supplier No. Date Taxable Value Integrated Tax Central Tax State Tax/Union territory Tax No. Date Taxable Value Integrated Tax Central Tax State Tax/Union territory Tax 1 2 3 4 5 6 7 8 9 10 11 12 13 14 ; (ii) for Statement 5B, the following Statement shall be substituted, namely:- Statement 5B [see rule 89(2)(g)] Refund Type: On account of deemed exports (Amount in Rs) Sl.No. Details of invoices of outward supplies in case refund is claimed by supplier/Details of invoices of inward supplies in case refund is claimed by recipient Tax paid GSTIN of the supplier No. Date Taxable Value Integrated Tax Central Tax State Tax/Union Territory Tax Cess 1 2 3 4 5 6 7 8 9 ; 14. Amendment of FORM GST RFD-01A.- In FORM GST RFD-01A, of the said rules, in Annexure-1, (a) for Statement 1A, the following Statement shall be substituted, namely:- Statement 1A [see rule 89(2)(h)] Refund Type: ITC accumulated due to invert
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