GOODS & SERVICE TAX (GST): RECENT CLARIFICATIONS
By: – Dr. Sanjiv Agarwal
Goods and Services Tax – GST
Dated:- 29-12-2017
This piece captures some of the latest developments on GST front ranging from e-way bills, manual application for seeking advance ruling, steps in anti-profiteering, refund claims to issues like supply by artist etc.
E-Way Bills
Every registered person has to generate an e-way bill, when all of the following conditions satisfied-
* There is a movement of taxable goods (mentioned in annexure to the notification).
* The consignment value exceeds ₹ 50,000/-
* Such movement is
* in relation to a supply
* for reasons other than supply
* due to inward supply from un registered person.
Information relating to said goods shall be furnished in Part A of e-way bill electronically on common portal. Any person or firm registered under GST can generate the e-way bill – including the transporter. Where the goods are supplied by an unregistere
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ods being transported are other than those specified in Annexure;
* where the goods are being transported by a non-motorised conveyance
* where the goods are being transported from the port, airport, air cargo complex and land customs station to an inland container depot or a container freight station for clearance by Customs.
Important dates for E-way Bills
DATE
WHY IMPORTANT?
16.01.2018
* The nationwide e-way Bill system will be ready to be rolled out on a trial basis latest by 16th January, 2018
* Trade and transporters can start using this system on a voluntary basis from 16th January, 2018.
01.02.2018
The rules for implementation of nationwide e-way Bill system for inter-state movement of goods compulsorily will be notified.
01.06.2018
* System for both inter-state and intra-state e-way bill generation will be ready by 16th January, 2018
* The States may choose their own timings for implementation of e-way Bill for intra-state movement of goods on any date bef
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ments accompanying such application shall be signed by applicant.
An appeal against the advance ruling issued be made by an applicant in quadruplicate, in FORM GST ARA-02 and shall be accompanied by a fee of ten thousand rupees to be deposited online, in the manner specified in section 49 of the CGST Act. It is reiterated that though the application shall be filed manually till the advance ruling module is made available on the common portal, the fee is required to be deposited online. The application for advance ruling or the appeal before the Appellate Authority shall be filed in the jurisdictional office of the respective State Authority for Advance Ruling or the State Appellate Authority for Advance Ruling respectively.
Anti-profiteering Measures
CBEC has issued procedure for filing applications to invoke anti-profiteering measures under GST law. CBEC has informed all stakeholders that if this is not done, the consumer's interest is protected by the National Anti-profiteeri
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supplies (other than nil rated or fully exempt supplies) of goods or services or both except those supplies which are notified by the Government;
(ii) refund of tax on the supply of goods regarded as deemed exports; and
(iii) refund of balance in the electronic cash ledger.
Refund claims in respect of zero-rated supplies and on account of inverted duty structure, deemed exports and excess balance in electronic cash ledger shall be filed for a tax period on a monthly basis in FORM GST RFD-01A.However, in case registered persons having aggregate turnover of up to ₹ 1.5 crore in the preceding financial year or the current financial year are opting to file FORM GSTR-1 quarterly (notification No. 57/2017-Central Tax dated 15.11.2017 refers), such persons shall apply for refund on a quarterly basis. Further, it is stated that the refund claim for a tax period may be filed only after filing the details in FORM GSTR-1 for the said tax period. It is also to be ensured that a valid retu
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arising due to inverted duty structure, the statements – Statement 1 and Statement 1A of FORM GST RFD-01A have to be filled. Statement 5B of FORM GST RFD-01A is required to be furnished for claiming refund on supplies declared as deemed exports.
In case of refund claim for the balance amount in the electronic cash ledger, upon filing of FORM GST RFD-01A, the amount of refund claimed shall get debited in the electronic cash ledger.
However, the drawback of all taxes under GST (Central Tax, Integrated Tax, State/Union Territory Tax) should not have been availed while claiming refund of accumulated ITC under section 54(3)(ii) of the CGST Act.
Supply of Artist
The artists give their work of art to galleries where it is exhibited for supply. There is a confusion regarding the treatment of this activity whether it is taxable in the hands of the artist when the same is given to the art gallery or at the time of actual supply by the gallery. The art work for supply on approval basis can b
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