BASIC CONCEPTS OF GST (PART- 14) – Constitutional Amendments
By: – Dr. Sanjiv Agarwal
Goods and Services Tax – GST
Dated:- 26-3-2016
Amendment of Union List
List I of Seventh Schedule would stand amended as follows:
* Entry 84 relating to excise duty would deal with duties of excise on the following goods manufactured or produced in India, namely:- (a) petroleum crude; (b) high speed diesel; (c) motor spirit (commonly known as petrol); (d) natural gas; (e) aviation turbine fuel; and (f) tobacco and tobacco products.
Petroleum products and tobacco will continue to attract excise duty. However, the Bill specifically provides that petroleum products might not attract GST. However, at a later stage the GST Council might de
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in the course of –
* inter-State trade or commerce or
* international trade or commerce of such goods.
Entry 55 (Taxes on advertisements other than advertisements published in the newspapers and advertisements broadcast by radio or television) shall be omitted.
Entry 62, which deals with entertainment/amusement tax would be substituted, such that taxes on entertainments and amusements can be levied by a Panchayat or a Municipality or a Regional Council or a District Council.
The Bill provides that the import of goods or services will be deemed as supply of goods or services or both, in the course of inter-state trade or commerce and thus it will attract IGST (CGST plus SGST). Thus, import of goods will attract Basic Customs Duty an
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ates.
* The net proceeds of additional tax on supply of goods in any financial year, except the proceeds attributable to the Union territories, shall not form part of the Consolidated Fund of India and be deemed to have been assigned to the States from where the supply originates.
* The Government of India may, where it considers necessary in the public interest, exempt such goods from the levy of this additional tax.
* The Parliament may, by law, formulate the principles for determining the place of origin from where supply of goods take place in the course of inter State trade or commerce.
Amendment of Sixth Schedule – Entertainment tax, etc.
Sixth Schedule deals with provisions as to the Administration of Tribal Areas in the Stat
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