MEMO – Acts – MEMORANDUM – INTEGRATED GOODS AND SERVICES TAX ACT, 2017 – MEMO – MEMORANDUM REGARDING DELEGATED LEGISLATION Clause 22 of the Integrated Goods and Services Tax Bill seeks to empower the Central Government to make rules, inter alia, in the following matters, namely:- (a) collection of taxes under section 5; (b) determination of place of supply under section 10; (c) apportionment of value of supply of services when the immovable property or boat or vessel is located in more than one State or Union or when the leased circuit is installed in more than one State or Union territory or when the event is held in more than one State or Union territory or for advertisement services under section 12; (d) the place of supply of services referred to in section 13 when they are supplied in more than one State or Union territory under that section; (e) conditions and safeguards for refund of integrated tax paid on supply of goods to tourist leaving India under section 15; (f) procedure
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delegation of legislative power is, therefore, of a normal character. FINANCIAL MEMORANDUM Clauses 17 and 18 of the Bill provides for apportionment of tax and settlement of funds and for transfer of input tax credit between the Central Government, State Government and Union territory. 2. Clause 20 of the Bill provides for application of provisions of the Central Goods and Services Tax Bill, 2017 relating to appeals, advance ruling and anti-profiteering. So authorities under the Central Goods and Services Tax Act will be utilised for the purposes of the proposed legislation. Thus there will be no extra financial expenditure under this Bill. 3. The total financial implications in terms of recurring and non-recurring expenditure involved in carrying out the various functions under the Bill would be borne by the Central Government. Most of the existing officers and staff of the Central Board of Excise and Customs would be used for carrying out the various functions under the Bill. However,
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r, the fact that the rate of central sales tax is different from the value added tax being levied on the intra-State sale creates a tax arbitrage which is exploited by unscrupulous elements. 3. In view of the above, it has become necessary to have a Central legislation, namely, the Integrated Goods and Services Tax Bill, 2017. The proposed Legislation will confer power upon the Central Government for levying goods and services tax on the supply of goods or services or both which takes place in the course of inter-State trade or commerce. The proposed Legislation will remove both the lacunas of the present central sales tax. Besides being vatable, the rate of tax for the integrated goods and services tax is proposed to be more or less equal to the sum total of the central goods and services tax and state goods and services tax or Union territory goods and services tax to be levied on intra-State supplies. It is expected to reduce cost of production and inflation in the economy, thereby
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ication or by special order, on the recommendations of the Council; (e) to provide for determination of the nature of supply as to whether it is an inter-State or an intra-State supply; (f) to provide elaborate provisions for determining the place of supply in relation to goods or services or both; (g) to provide for payment of tax by a supplier of online information and database access or retrieval services; (h) to provide for refund of tax paid on supply of goods to tourist leaving India; (i) to provide for apportionment of tax and settlement of funds and for transfer of input tax credit between the Central Government, State Government and Union territory; (j) to provide for application of certain provisions of the Central Goods and Services Tax Act, 2017, inter alia, relating to definitions, time and value of supply, input tax credit, registration, returns other than late fee, payment of tax, assessment, refunds, audit, inspection, search, seizure and arrest, demands and recovery, a
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