Goods and Services Tax – GST – By: – Ganeshan Kalyani – Dated:- 26-12-2018 Last Replied Date:- 6-1-2019 – Due date of filing GST Annual Return is extended Due date of filing GST Annual returns in FORM GSTR-9, FORM GSTR-9A & reconciliation statement in FORM GSTR-9C for the F.Y. 2017-18 shall be further extended till 30.06.2019. Change in GST rate from 28% to 18% Pulleys, transmission shafts and cranks, gear boxes etc. falling under HS Code 8483. Monitors and TVs of upto screen size of 32 inches. Re-treaded or used pneumatic tyres or rubber Power bank of lithium ion batteries. Lithium ion batteries are already at 18%. Digital cameras and video camera recorders Video games consoles and other games and sports requisites falling under HS Code 9504. Change in GST rate from 28% to 5% Parts and accessories for the carriages for disabled persons Change in GST rate from 18% to 12% Cork roughly squared or debagged. Articles of natural cork Agglomerated cork Change in GST rate from 18% to 5%
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
d Vehicles (carnet de passages-en-douane). Rate of 5%/18% to be applied based on transaction value of footwear Uniform GST rate of 12% on Flexible Intermediate Bulk Container (FIBC) from existing 5%/12% (depending on the value) Change in service tax rates: Services supplied by banks to Basic Saving Bank Deposit (BSBD) account holders under Pradhan Mantri Jan Dhan Yojana (PMJDY) shall be exempted. Air travel of pilgrims by non-scheduled/charter operations, for religious pilgrimage facilitated by the Government of India under bilateral arrangements shall attract the same rate of GST as applicable to similar flights in Economy class (i.e. 5% with ITC of input services). GST rate on cinema tickets above ₹ 100 shall be reduced from 28% to 18% and on cinema tickets upto ₹ 100 from 18% to 12%. GST rate on third party insurance premium of goods carrying vehicles shall be reduced from 18% to 12% Services supplied by rehabilitation professionals recognised under Rehabilitation Counci
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
1966. To clarify to West Bengal that services provided by Council/ Board of Primary/ Secondary/ Higher Secondary Education for conduct of examination to its students are exempt. To clarify that printing of pictures falls under service code 998386: Photographic and videographic processing services of the scheme of classification of services attract GST @18% and not under 998912: Printing and reproduction services of recorded media, on a fee or contract basis which attracts GST @12%. To clarify that leasing of pumps and reservoirs by the OMCs to petrol pump dealers is a mixed supply and the Licence Fee Recovery (LFR) charged for the same shall be leviable to GST @ 28%, the rate applicable to pumps. Leasing of land and buildings along with equipment shall fall under heading 9972 (real estate services) and attract GST rate of 18%. To clarify that the incentives paid by RBI to Banks under Currency Distribution and Exchange Scheme (CDES) are taxable. To clarify under section 11(3) of the CG
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
service charge or fee charged to customers whether or not received via business facilitator or the business correspondent. To issue a clarification to Food Corporation of India (FCI) that the service provided by godown owner in case of lease with services, where the godown owner, besides leasing the warehouse, undertakes to carry out activities of storage and preservation of stored food grains, is the service of storage and warehousing of agricultural produce and the same is exempt. GST on solar power generating plant and other renewable energy plants: GST rate of 5% rate has been prescribed on renewable energy devices & parts for their manufacture (bio gas plant/solar power based devices, solar power generating system (SGPS) etc) [falling under chapter 84, 85 or 94 of the Tariff]. Other goods or services used in these plants attract applicable GST. Certain disputes have arisen regarding GST rates where specified goods attracting 5% GST are supplied along with services of construc
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
service does not involve a supply (e.g., movement of testing equipment etc.) and is not be liable to GST. The goods with description Bagasse Board [whether plain or laminated] falling under Chapter 44 attract GST at the rate of 12%. Concessional GST rate of 5% applies to the LPG supplied in bulk to an OMC by refiners/fractioners for bottling for further supply to household domestic consumers. Manure of determination of classification of vitamins, provitamins etc. as animal feed supplements Sattu or Chattua falling under HS code 1106 and attracts the applicable GST rate. Polypropylene Woven and Non-Woven Bags and PP Woven and Non-Woven Bags laminated with BOPP falls under HS code 3923 and attract 18% GST rate. 18% GST is applicable on wood logs including the wood in rough/log used for pulping. Turbo charger is classified under heading 8414 and attracts 18% GST and not 5% GST. Fabric even if embroidered or has stitching of lace and tikki etc., and even if sold in three piece fabric as l
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
er. Changes in GST Annual Return Form Present return format has heading to specify the supplies as declared in returns filed during the year need to be furnished. Now, the heading is amended to specify the supplies as made during the year. Presently, HSN code of all inward supplies need to be furnished in GST Annual return. Now, it is proposed that HSN code of those inward supplies whose value independently accounts for 10% or more of the total value of inward supplies shall be declared. All invoices pertaining to previous year irrespective of month in which such invoice is reported in FORM GSTR-1 by the supplier and auto populated in GSTR-2A of the recipient would be auto-populated in Table 8A of GST Annual return. ITC cannot be availed through FORM GSTR-9 & FORM GSTR-9C. Monthly Return: The new return filing system shall be introduced on a trial basis from 01.04.2019 and on mandatorily basis from 01.07.2019. Due date of filing return in FORM ITC-04 is extended The due date for fi
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
t the time of filing of the refund application itself, thereby obviating the need for a taxpayer to physically visit a tax officer for submission of a refund application. GSTN will enable this functionality on the common portal shortly. Following types of refunds shall be made available through FORM GST RFD-01A Refund on account of Assessment / Provisional Assessment / Appeal / Any other Order. Tax paid on an intra-State supply which is subsequently held to be inter-State supply and vice-versa Excess payment of tax and Any other refund In case of applications for refund in FORM GST RFD-01A (except those relating to refund of excess balance in the cash ledger) which are generated on the common portal before the roll out of the functionality described and which have not been submitted in the jurisdictional tax office within 60 days of the generation of ARN, the claimants shall be sent communications on their registered email ids containing information on where to submit the said refund a
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
, 2017 to February, 2019 / quarters July, 2017 to December, 2018 by such taxpayers shall be extended till 31.03.2019. Late fee on delay filing of return is waived Late fee shall be completely waived for all taxpayers in case FORM GSTR-1, FORM GSTR-3B & FORM GSTR-4 for the months/quarters July, 2017 to September 2018, are furnished after 22.12.2018 but on or before 31.03.2019. E-way bill can be generated only if GST return is filed Taxpayers who have not filed the returns for two consecutive tax periods shall be restricted from generating e-way bills. This provision shall be made effective once GSTN / NIC make available the required functionality. Changes made in the Act would be notified w.e.f. 01.02.2019: Changes made by CGST (Amendment) Act, 2018, IGST (Amendment) Act, 2018, UTGST (Amendment) Act, 2018 and GST (Compensation to States) Amendment Act, 2018 and the corresponding changes in SGST Acts would be notified w.e.f. 01.02.2019. GST Council to refer the following issues to Co
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =