Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 19-1-2019 Last Replied Date:- 22-1-2019 – The Central Government issued seven notifications on IGST rate consequent the decisions taken by the GST Council. These notifications came into effect from 01.01.2019. Notification No. 25/2018-Integrated Tax (Rate) Vide Notification No.01/2017-Integrated Tax (Rate), dated 28.06.2017 notified 6 types of rates as detailed below- 5 per cent. in respect of goods specified in Schedule I, 12 per cent. in respect of goods specified in Schedule II, 18 per cent. in respect of goods specified in Schedule III, 28 per cent. in respect of goods specified in Schedule IV, 3 per cent. in respect of goods specified in Schedule V, and 0.25 per cent. in respect of goods specified in Schedule VI. This Notification brings amendment to the first schedules in Notification No.01/2017-Integrated Tax (Rate). Amendments in Schedule I – 5% This Notification inserted new entries viz., 123A and 198A- 123A –
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all such supplies, and the remaining 30% of the gross consideration charged shall be deemed as value of the said taxable service. Sl. No. 234A is renumbered as 234B and a new entry 234A is inserted as detailed below- 234A – 871420 – Amendments in Schedule II -12% After sl. No. 101, the sl. Nos. 101A, 101B and 101C are inserted as detailed below- 101A – 4502 00 00 – Natural cork, debacked or roughly squared, or in rectangular (including square) blocks, plates, sheets or strip (including sharp-edged blanks for corks or 101B – 4503 – Articles of natural cork such as Corks and Stoppers, Shuttlecock cork bottom 101C – 4504 – Agglomerated cork (with or without a binding substance) and articles of agglomerated cork This Notification omitted the entries No. 102 and 126. 102 – 4501 – 126 – 4904 00 00 – Music, printed or in manuscript, whether or not bound or illustrated Sl. No. 171A is renumbered as 171AA and Sl. No.171A is newly inserted as detailed below- 171A -Flexible intermediate bulk cont
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ithium-ion accumulators (other than battery) including lithium-ion power bank Against S. No. 383, in the entry in column (3), after the words television cameras , the words, digital cameras and video camera recorders , are inserted. Against S. No. 384, in the entry in column (3), for the figures and word 20 inches , the figures and word 32 inches shall be substituted. Sl. No. 440A is renumbered as 440B and the new entry for 440A is inserted as detailed below- 440A – 9504 – Video game consoles and machines, articles of funfair, table or parlour games, including pintables, billiards, special tables for casino games and automatic bowling alley equipment [other than playing cards, ganjifa card, chess board, carom board and other board games of 9504 90 90 like ludo, etc. Amendments in Schedule IV -28% The entries No. 47, 135, 151 and 215 are omitted. 47 – 4012- Retreaded or used tyres and flpas; 135 – 8483 – Transmission shafts (including cam shafts and crank shafts) and cranks (excluding c
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entries for the entries 43A, 43B and inserted entries 121A and 153. The new substituted and inserted entries are as follows- Sl.No. Chapter/Heading/Sub-heading/Tariff item Description of Goods 43A 0710 Vegetables (uncooked or cooked by steaming or boiling in water), frozen 43B 0711 Vegetables provisionally preserved (for example, by sulphur dioxide gas, in brine, in sulphur water or in other preservative solutions), but unsuitable in that state for immediate consumption. 121A 4904 00 00 Music, printed or in manuscript, whether or not bound or illustrated 153 Any Chapter Supply of gift items received by the President, Prime Minister, Governor or Chief Minister of any State or Union territory, or any public servant, by way of public auction by the Government, where auction proceeds are to be used for public or charitable cause. Notification No. 27/2018-Integrated Tax (Rate) The Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommenda
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nd Services Tax Identification Number (GSTIN) along with the invoice for exports to the Nominated Agency within a period of 120 (one hundred and twenty) days from the date of supply by the Nominated Agency; wherever such proof of export is not produced within the period mentioned in condition (ii), the Nominated Agency shall pay the amount of integrated tax payable on the quantity of gold not exported, along with interest from the date when the said tax on such supply was payable, but for the exemption. Notification No. 28/2018-Integrated Tax (Rate) Notification No. 08/2017-Integrated Tax (Rate), dated 28.06.2017 prescribes the IGST tax rates on services. The present notification brings the following amendments to the Notification No. 28/2018-Integrated Tax (Rate)- Sl.No. 9 of the table in the Notification No.08/2017-Integrated Tax(Rate) deals with heading 9965 (Goods Transports Service).The present Notification inserted clause (iva) after clause (iv).The new entry provides that transp
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or without operator, other than (i), (ii), (iii), (iv), (v), (vi), (vii) and (viia) above- 18%; This Notification substituted tax rate as 12%(18%) for item No. (iv) of 34.After amendment the revised entry is as below- (ii) Services by way of admission exhibition of cinematograph films where price of admission ticket is one hundred rupees or less. – 12% This Notification inserted entry No. 38 as detailed below- Sl.No. Chapter, Section or Heading Description of Service Rate (per cent.) Condition 38 9954 or 9983 or 9987 Service by way of construction or engineering or installation or other technical services, provided in relation of setting up of following, – (a) Bio-gas plant (b) Solar power based devices (c) Solar power generating system (d) Wind mills, Wind Operated Electricity Generator (WOEG) (e) Waste to energy plants / devices (f) Ocean waves/tidal waves energy devices/plants Explanation:- This entry shall be read in conjunction with serial number 234 of Schedule I of the notifica
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sub-section (1) of section 5 of the said Act, as is in excess of the said tax calculated at the rate as specified in the corresponding entry in column (4) of the said Table, unless specified otherwise, subject to the relevant conditions as specified in the corresponding entry in column (5) of the said Table. The following are the amendments brought out in Notification No.09/2017-Integrated tax- The present Notification inserted item No. 22B, 28A and 77Aas detailed below- Sl.No Chapter, Section, Heading, Group or Service Code (Tariff) Description of Services Rate (per cent.) Condition 22B Heading 9965 or Heading 9967 Services provided by a goods transport agency, by way of transport of goods in a goods carriage, to, – (a) a Department or Establishment of the Central Government or State Government or Union territory; or (b) local authority; or (c) Governmental agencies, which has taken registration under the Central Goods and Services Tax Act, 2017 only for the purpose of deducting tax u
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rds banking companies and after the words PSU from the . This notification substitutes the Heading for the entry No. 69 – 9992.The newly substituted headings are Heading 9992 or Heading 9963 . This notification omitted serial No. 70 and the entries relating thereto. The entry 70 deals with the Services provided by the Indian Institutes of Management, as per the guidelines of the Central Government, to their students, by way of the following educational programmes, except Executive Development Programme. Para 2 of the Notification No. 09/2017-Integrated Tax (Rate) gives definition for various terms. The present Notification inserted a new definition vide clause (zaa) for the term financial institution . The expression financial institution is defined as having s the same meaning as assigned to it in clause (c) of section 45-I of the Reserve Bank of India Act, 1934 Notification No.30/2018-Integrated Tax (Rate) This Notification amended the Notification No.10/2017-Integrated Tax (Rate), d
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017 only for the purpose of deducting tax under section 51 and not for making a taxable supply of goods or services. This Notification inserted 3 entries from 14 to 16 as detailed below Sl.No. Category of Supply of Services Supplier of service Recipient of Service Services provided by business facilitator (BF) to a banking company Business facilitator (BF) A banking company, located in the taxable territory Services provided by an agent of business correspondent (BC) to business correspondent (BC) An agent of business correspondent (BC) A business correspondent, located in the taxable territory. Security services (services provided by way of supply of security personnel) provided to a registered person: Provided that nothing contained in this entry shall apply to, – (i)(a) a Department or Establishment of the Central Government or State Government or Union territory; or (b) local authority; or (c) Governmental agencies; which has taken registration under the Central Goods and Services
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