CGST Act 2017 Update: Section 2(18) “Business Vertical” Definition Removed, Alters Business Classification Under GST Framework.
Act-Rules
GST
Business vertical – Definitions. – Section 2(18)
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Section 2(17)(h) CGST Act: Ambiguity Arises from Removal of “Services” in Race Club Business Definition.
Act-Rules
GST
Business – Definitions. – Section 2(17)(h) of the CGST ACT, 2017 as amen
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National Anti-Profiteering Authority Excluded from 'Adjudicating Authority' in CGST Act; CBEC Now CBIC in Updates.
Act-Rules
GST
Adjudicating authority – Definitions. – Section 2(4) of the CGST ACT, 2017 as amended – National AntiProfiteering Authority constituted by the Central Government under section 171 of the CGST Act excluded from the definition of ‘adjudicating authority’ – Reference ot CBEC changed to CBIC
TMI Updates – Highlights, quick notes, marquee, annotation, news,
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Goods and Service Tax
Query (Issue) Started By: – Ethirajan Parthasarathy Dated:- 3-9-2018 Last Reply Date:- 4-9-2018 Goods and Services Tax – GST
Got 1 Reply
GST
A developer engages various contractors for putting up the Building.
A percentage of contractor's Bill is kept as “retention money” which will be paid after long duration. Similarly some portion of Bill is not paid and kept as “hold” money for defective work which will be paid after defect is set right
Both the above cou
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Input Tax Credit
Query (Issue) Started By: – Ethirajan Parthasarathy Dated:- 3-9-2018 Last Reply Date:- 4-9-2018 Goods and Services Tax – GST
Got 2 Replies
GST
* Section 16(4) Provides for Time Limit regarding Input tax set off.
It is not clear to me whether the time limit Apllies for Input tax “Availment” or Input tax 'Credit”
Reply By Praveen Nair:
The Reply:
As per Sec 16(4) of the CGST Act, “A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note
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Imports by composition dealer
Query (Issue) Started By: – nagendra v Dated:- 3-9-2018 Last Reply Date:- 4-9-2018 Goods and Services Tax – GST
Got 1 Reply
GST
For Regular dealer IGST will
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Refund of GST
Query (Issue) Started By: – BINDLASDUPLUX LIMITED Dated:- 3-9-2018 Last Reply Date:- 6-9-2018 Goods and Services Tax – GST
Got 6 Replies
GST
Dear Sir(s)
A Trading company say Mr. X (deals in paper, paper machines etc.) purchased Kraft Paper (IGST @12%) from paper manufacturing company in India.
Thereafter Mr. X sold the goods to Mr. Y (merchant exporter) under not. no. 41/2017 Integrated Tax (Rate) Dt. 23.10.2017 charging 0.10 % IGST. Now the merchant exporter Mr. Y export the goods out of India.
My question here is that how Mr. X can claim the IGST which is unutilized.
thanks
CA Devkant Agarwal
Reply By DR.MARIAPPAN GOVINDARAJAN:
The Reply:
Whether the company is paying any other integrated tax?
Reply By
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Goods).
However he will be eligible for ITC only for (12%-.10% = 11.90%) under refund mechanism.
The calculation for Inverted duty structure in system enabled in GST Portal.
Regards
Reply By BINDLAS DUPLUX LIMITED:
The Reply:
thanks
Reply By Yash Jain:
The Reply:
Sir,
But do ensure that you fulfill all the conditions as being laid for supply to merchant exporter.
Refer the notification for merchandise trade. There are some of the following conditions
1. Ensure that goods are exported in 90 days
2. Shipping bill should mention ur name.
3. You not being manufacturer will not get incentive/drawback
4. Your AO should be give PO by merchant exporter.
Many more conditions. Instead charge gst full @12%, and let merchant exporter ta
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WHEN GTA CAN OPT FOR FCM UNDER GST
Query (Issue) Started By: – KULDEEPSINGH KHANGAROT Dated:- 3-9-2018 Last Reply Date:- 4-9-2018 Goods and Services Tax – GST
Got 2 Replies
GST
Dear Sir, My one of client is a registered GTA , but even though it was registered we were raising Transport Services Invoices on Reverse charge , and on sale of old vehicles we were raising Invoices on forward charge.
Now, from 01.09.2018, my client wants to raise all the Invoices on Forward charge basis and also , want to take credit of Inputs of the same. SO, can he opt from middle of year the option of migrating from RCM to FCM?
Reply By Praveen Nair:
The Reply:
If the GTA wants to pay GST then as per Notification No. 20/2017-Central Tax (Rate) 22
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REVERSE CHARGE UNDER ‘IGST’ ACT
By: – DR.MARIAPPAN GOVINDARAJAN
Goods and Services Tax – GST
Dated:- 3-9-2018
Reverse Charge
Section 2(24) of the Integrated Goods and Services Tax Act, 2017 ('Act' for short) provides that words and expressions used and not defined in this Act but defined in the Central Goods and Services Tax Act, the Union Territory Goods and Services Tax Act and the Goods and Services Tax (Compensation to States) Act shall have the same meaning as assigned to them in those Acts. The expression 'reverse charge' has not been defined in the Act. Therefore we may take the definition as contained in CGST Act, 2017. Section 2(98) of CGST Act defines the phrase 'reverse charge' as the liability to pay tax by the recipient of supply of goods or services or both instead of the supplier of such goods or services or both under sub-section (3) or sub-section (4) of section 9, or under sub-section (3) or subsection (4) of section 5 of the Integrated Goods and
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es or both.
Vide Notification No. 32/2017-Central Tax (Rate), dated 13.10.2017, the Central Government exempted the inter-State supply of goods or services or both received by a registered person from any supplier, who is not registered, from the whole of the integrated tax leviable thereon under section 5(4) of the said Act. The said time line has been extended to by the Notifications as mentioned below-
* Vide Notification No.11/2018-IGST (Rate), dated 23.03.2018 the exemption was granted up to 30.06.2018;
* Vide Notification No. 13/2018-IGST (Rate), dated 29.06.2018 the exemption was further extended up to 30.09.2018;
* Vide Notification No. 23/2018-IGST (Rate), dated 06.08.2018, the exemption is further granted for a long term i.e., up to 30.09.2019.
The Integrated Goods and Services Tax (Amendment) Act, 2018 substituted new section for section 5(4). The newly substituted section 5(4) provides that The Government may, on the recommendations of the Council, by notification,
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iculturist
Any registered person
2.
1404 90 10
Bidi wrapper leaves (tendu)
Agriculturist
Any registered person
3.
2401
Tobacco leaves
Agriculturist
Any registered person
4.
5004 to 5006
Silk yarn
Any person who manufactures silk yarn from raw silk or silk worm cocoons for supply of silk yarn
Any registered person
4A.
5201
Raw cotton (with effect from 15.11.2017)
Agriculturist
Any registered person
5.
–
Supply of lottery.
State Government, Union Territory or any local authority
Lottery distributor or selling agent. Explanation.- For the purposes of this entry, lottery distributor or selling agent has the same meaning as assigned to it in clause (c) of Rule 2 of the Lotteries (Regulation) Rules, 2010, made under the provisions of sub section 1 of section 11 of the Lotteries (Regulations) Act, 1998 (17 of 1998).
6.
Any Chapter
Used vehicles, seized and confiscated goods, old and used goods, waste and scrap (with effect from 13.10.2017)
Central Government, Sta
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rt agency (GTA) in respect of transportation of goods by road to-
(a) any factory registered under or governed by the Factories Act, 1948(63 of 1948);or
(b) any society registered under the Societies Registration Act, 1860 (21 of 1860) or under any other law for the time being in force in any part of India; or
(c) any co-operative society established by or under any law; or
(d) any person registered under the Central Goods and Services Tax Act or the Integrated Goods and Services Tax Act or the State Goods and Services Tax Act or the Union Territory Goods and Services Tax Act; or
(e) any body corporate established, by or under any law; or
(f) any partnership firm whether registered or not under any law including association of persons; or
(g) any casual taxable person.
Goods Transport Agency (GTA) *[who has not paid integrated tax at the rate of 12%]
* inserted with effect from 22.08.2017.
(a) Any factory registered under or governed by the Factories Act, 1948(63 of 1948); o
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before any court, tribunal or authority.
An individual advocate including a senior advocate or firm of advocates.
Any business entity located in the taxable territory.
4
Services supplied by an arbitral tribunal to a business entity.
An arbitral tribunal.
Any business entity located in the taxable territory.
5
Services provided by way of sponsorship to any body corporate or partnership firm.
Any person
Any body corporate or partnership firm located in the taxable territory.
6
Services supplied by the Central Government, State Government, Union territory or local authority to a business entity excluding, –
(1) renting of immovable property, and
(2) services specified below-
(i) services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Central Government, State Government or Union territory or local authority;
(ii) services in relation to an aircraft or a vessel, inside or outside th
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ce business.
An insurance agent
Any person carrying on insurance business, located in the taxable territory.
9
Services supplied by a recovery agent to a banking company or a financial institution or a non-banking financial company.
A recovery agent
A banking company or a financial institution or a non-banking financial company, located in the taxable territory.
10
Services supplied by a person located in non- taxable territory by way of transportation of goods by a vessel from a place outside India up to the customs station of clearance in India.
A person located in non-taxable territory
Importer, as defined in clause (26) of section 2 of the Customs Act, 1962(52 of 1962), located in the taxable territory.
11
Supply of services by an author, music composer, photographer, artist or the like by way of transfer or permitting the use or enjoyment of a copyright covered under clause (a) of sub-section (1) of section 13 of the Copyright Act, 1957 relating to original literary, d
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vocate including a senior advocate by way of representational services before any court, tribunal or authority, directly or indirectly, to any business entity located in the taxable territory, including where contract for provision of such service has been entered through another advocate or a firm of advocates, or by a firm of advocates, by way of legal services, to a business entity."
Registration
Section 20(v) of the Act provides that the provisions of CGST Act for registration will be applicable for IGST Act.
Section 24 of CGST Act provides for compulsory registration under CGST Act. Section 24(iii) provides that the persons who are required to pay tax under reverse charge is compulsorily liable to register under CGST.
The threshold exemption of ₹ 20 lakhs or ₹ 10 lakhs (to special category of States but the CGST (Amendment) Bill, proposes to increase this limit to ₹ 20 lakhs) is not applicable to the reverse charge mechanism.
Composition scheme
Secti
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or
* the date immediately following 30 days from the date of issue of invoice or any other document, by whatever name called, in lieu thereof by the supplier.
Where it is not possible to determine the time of supply as above, the time of supply shall be the date of entry in the books of account of the recipient of supply.
Time of supply of services
Section 13(3) of CGST Act provides that In case of supplies in respect of which tax is paid or liable to be paid on reverse charge basis, the time of supply shall be the earlier of the following dates, namely:-
* the date of payment as entered in the books of account of the recipient or the date on which the payment is debited in his bank account, whichever is earlier; or
* the date immediately following 60 days from the date of issue of invoice or any other document, by whatever name called, in lieu thereof by the supplier.
Where it is not possible to determine the time of supply as above, the time of supply shall be the date of e
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equired to be issued section 31(3)(f) of CGST Act, a registered person may issue a consolidated invoice at the end of a month for supplies covered under section 5(4), the aggregate value of such supplies exceeds rupees five thousand in a day from any or all the suppliers.
Payment of tax
Section 20(ix) of the Act provides that the provisions of CGST Act for payment of tax shall be applicable to IGST also.
Payment of Tax under reverse charge mechanism shall be paid through Electronic Cash Ledger. Reverse Charge liability cannot be paid through Input Tax Credit. Section 31(3) (g) CGST Act provides that a registered person who is liable to pay tax under section 5(3) or 5(4) shall issue a payment voucher at the time of making payment to the supplier. The said payment voucher shall contain the details as specified in Rule 52 of CGST Rules, 2017. The payment of tax on reverse charge is to be paid on or before 20th of the succeeding month. The payment shall be made only in cash and not to
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NEPAL EXPORT THRU LUT AND REMITTED THRU RUPEES BUT IN GSTR1 RETURN WHERE TO SHOW PL HELP
Query (Issue) Started By: – nandankumar roy Dated:- 3-9-2018 Last Reply Date:- 4-9-2018 Goods and Services Tax – GST
Got 2 Replies
GST
DEAR SIR, PL HELP REGARDING OUR NEPAL EXPORT UNDER LUT AND RECD AMT THRU RUPEES BUT IN GSTR1 RETURN WHERE TO SHOW IN ABSENCE OF SHIPPING BILL AND PORT CODE .
WITH REGARDS,
N K ROY
9427181604
Reply By ANITA BHADRA:
The Reply:
Write your Bill of Export No. (wh
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Seeks to prescribe the due dates for quarterly furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of upto 1.5 crores for the quarter July, 2018 to September, 2018
G.O. Ms. No. 41 Dated:- 3-9-2018 Puducherry SGST
GST – States
Puducherry SGST
Puducherry SGST
GOVERNMENT OF PUDUCHERRY
COMMERCIAL TAXES SECRETARIAT
(G.O. Ms. No. 41, Puducherry, dated 3rd September 2018)
NOTIFICATION
In exercise of the powers conferred by section 148 of the Puducherry Goods and Ser
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Commissioner of GST and Central Excise Chennai Versus M/s. Vivek Ltd.
Service Tax
2018 (11) TMI 1220 – CESTAT CHENNAI – TMI
CESTAT CHENNAI – AT
Dated:- 3-9-2018
ST/CO/2 & 3/2012 and ST/537 and 538/2011 – Final Order Nos. 42350-42351/2018
Service Tax
Ms. Sulekha Beevi C.S., Member (Judicial) And Shri Madhu Mohan Damodhar, Member (Technical)
Shri S. Govindarajan, AC (AR) for the Appellant
Shri M. Kannan, Advocate for the Respondent
ORDER
Per Bench
The issue arises for consideration in both these appeals being the same, they were heard together and are disposed by this common order.
2. The respondents are engaged in the business of trading in consumer durables like TV, Fridge, Air-conditioning etc. In such activity, they also undertake warranty services and annual maintenance service. Based on specific intelligence that the respondents are providing taxable services under the category of Business Auxiliary Services and have not obtained registration and not
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d the grounds filed in the appeal. He submitted that the respondents have tie-up with banks / financial institutions and customers who approach to buy consumer durables are able to avail loan from such banks / financial institutions. By this activity they were promoting the business of such financial institutions. The respondents were receiving commission / incentive from such financial institutions. The respondents have not paid the service tax on the incentives received from them and have suppressed the fact with intent to evade the payment of the service tax. He relied upon the decision of the Larger Bench of the Tribunal in the case of Pagariya Auto Center Vs. Commissioner of Central Excise, Aurangabad – 2014 (33) STR 506 (Tri. LB) and argued that when commission / incentive is received by the dealer from the banks / financial institutions for promotion of their business, the activity would fall under BAS.
4. The ld. counsel Shri M. Kannan appeared on behalf of the respondent. He
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of the tribunal in La Freightlift P. Ltd. Vs. Commissioner of Service Tax, Chennai – 009 (1) STR 513 (Tri. Chen.). The ld. counsel also argued to set aside the penalties. He submitted that the issue was interpretational one and that it had travelled upto the Larger Bench. In fact, the Commissioner (Appeals) had set aside the demand observing that the activity does not fall under BAS. Being interpretational issue, the penalties may be set aside by invoking Section 80 of the Finance Act, 1994.
5. Heard both sides.
6. The original authority had confirmed the demand holding that the activity would fall under BAS. In Pagariya Auto Center (supra), the Larger Bench had observed that the court has to look into facts / documents to analyse whether the said activity falls within BAS. The Tribunal in the case of Commissioner of Central Excise Vs. Vasanth & Co. – 2018 (7) TMI 1220 – CESTAT Chennai had remanded the matter directing to scrutinize the documents so as to analyze whether the case wou
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The Punjab Goods and Services Tax (Thirteenth Amendment) Rules, 2018.
G.S.R.75/P.A.5/2017/S.164/Amd.(21)/2018 Dated:- 3-9-2018 Punjab SGST
GST – States
Punjab SGST
Punjab SGST
GOVERNMENT OF PUNJAB
DEPARTMENT OF EXCISE AND TAXATION
(EXCISE AND TAXATION BRANCH-II)
NOTIFICATION
The 3rd September, 2018
No. G.S.R.75/P.A.5/2017/S.164/Amd.(21)/2018.- In exercise of the powers conferred by section 164 of the Punjab Goods and Services Tax Act, 2017 (Punjab Act No.5 of 2017), and all other powers enabling him in this behalf, the Governor of Punjab, is pleased to make the following rules further to amend the Punjab Goods and Services Tax Rules, 2017, namely:-
RULES
1. (1) These rules may be called the Punjab Goods and Services Tax (Thirteenth Amendment) Rules, 2018.
(2) They shall be deemed to have come into force on and with effect from the 13th September, 2018.
2. In the Punjab Goods and Services Tax Rules, 2017, after FORM GSTR-9A, the following shall be inserted, namel
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re not permissible under GST
(+)
G
Turnover from April 2017 to June 2017
(-)
H
Unbilled revenue at the end of Financial Year
(-)
I
Unadjusted Advances at the beginning of the Financial Year
(-)
J
Credit notes accounted for in the audited Annual Financial Statement but are not permissible under GST
(-)
K
Adjustments on account of supply of goods by SEZ units to DTA Units
(-)
L
Turnover for the period under composition scheme
(-)
M
Adjustments in turnover under section 15 and rules thereunder
(+/-)
N
Adjustments in turnover due to foreign exchange fluctuations
(+/-)
O
Adjustments in turnover due to reasons not listed above
(+/-)
P
Annual turnover after adjustments as above
< Auto >
Q
Turnover as declared in Annual Return (GSTR9)
R
Un-Reconciled turnover (Q – P)
AT1
6
Reasons for Un – Reconciled difference in Annual Gross Turnover
A
B
C
Reason 1
<< Text >>
Reason 2
<< Text >>
Reason 3
<< Text >>
7
Reconciliation of Taxable Turnove
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unt to be paid as per tables above
Q
Total amount paid as declared in Annual Return (GSTR-9)
R
Un-reconciled payment of amount
PT 1
10
Reasons for un-reconciled payment of amount
A
B
Reason 1
<< Text >>
Reason 2
<< Text >>
C
Reason 3
<< Text >>
11
Additional amount payable but not paid (due to reasons specified under Tables 6,8 and 10 above)
To be paid through Cash
Description
Taxable Value
Central tax
State tax/UT tax
Integrated tax
Cess, if applicable
1
2
3
4
5
6
5%
12%
18%
28%
3%
0.25%
0.10%
Interest
Late Fee
Penalty
Others (please specify)
Pt. IV
Reconciliation of Input Tax Credit (ITC)
12
Reconciliation of Net Input Tax Credit (ITC)
A
ITC availed as per audited Annual Financial Statement for the State/ UT (For multi-GSTIN units under same PAN this should be derived from books of accounts)
B
ITC booked in earlier Financial Years claimed in current Financial Year
(+)
C
ITC booked in curr
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etc.)
Repair and Maintenance
N
Other Miscellaneous expenses
O
P
Capital goods
Any other expense 1
Q
Any other expense 2
R
Total amount of eligible ITC availed
<>
S
ITC claimed in Annual Return (GSTR9)
T
Un-reconciled ITC
ITC 2
15
Reasons for un-reconciled difference in ITC
A
Reason 1
<< Text >>
B
C
Reason 2
<< Text >>
Reason 3
<< Text >>
16
Tax payable on un-reconciled difference in ITC (due to reasons specified in 13 and 15 above)
Description
Amount Payable
Central Tax
State/UT Tax
Integrated Tax
Cess
Interest
Penalty
Pt.V
Auditor's recommendation on additional Liability due to non-reconciliation
To be paid through Cash
Description
Value
Central tax
State tax/UT tax
Integrated tax
Cess, if applicable
1
2
3
4
5
6
5%
12%
18%
28%
3%
0.25%
0.10%
Input Tax Credit
Interest
Late Fee
Penalty
Any other amount paid for supplies not included in Annual Return (GSTR 9)
Erroneous refund to be paid back
Outstanding dem
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reconciliation statement is being filed for.
11. Part II consists of reconciliation of the annual turnover declared in the audited Annual Financial Statement with the turnover as declared in the Annual Return furnished in FORM GSTR-9 for this GSTIN. The instructions to fill this part are as follows :-
Table No.
Instructions
5A
The turnover as per the audited Annual Financial Statement shall be declared here. There may be cases where multiple GSTINs (State-wise) registrations exist on the same PAN. This is common for persons / entities with presence over multiple States. Such persons / entities, will have to internally derive their GSTIN wise turnover and declare the same here. This shall include export turnover (if any). It may be noted that reference to audited Annual Financial Statement includes reference to books of accounts in case of persons / entities having presence over multiple States.
5B
Unbilled revenue which was recorded in the books of accounts on the basis of accru
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after 31st of March for any supply accounted in the current financial year but such credit notes were reflected in the annual return (GSTR-9)shall be declared here.
5F
Trade discounts which are accounted for in the audited Annual Financial Statement but on which GST was leviable (being not permissible) shall be declared here.
5G
Turnover included in the audited Annual Financial Statement for April 2017 to June 2017 shall be declared here.
5H
Unbilled revenue which was recorded in the books of accounts on the basis of accrual system of accounting during the current financial year but GST was not payable on such revenue in the same financial year shall be declared here.
5I
Value of all advances for which GST has not been paid but the same has been recognized as revenue in the audited Annual Financial Statement shall be declared here.
5J
Aggregate value of credit notes which have been accounted for in the audited Annual Financial Statement but were not admissible under Section
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eturn (GSTR9) and turnover reported in the audited Annual Financial Statement due to foreign exchange fluctuations shall be declared here.
5O
Any difference between the turnover reported in the Annual Return (GSTR9) and turnover reported in the audited Annual Financial Statement due to reasons not listed above shall be declared here.
5Q
Annual turnover as declared in the Annual Return (GSTR 9) shall be declared here. This turnover may be derived from Sr. No. 5N, 10 and 11 of Annual Return (GSTR 9).
6
Reasons for non-reconciliation between the annual turnover declared in the audited Annual Financial Statement and turnover as declared in the Annual Return (GSTR 9) shall be specified here.
7
The table provides for reconciliation of taxable turnover from the audited annual turnover after adjustments with the taxable turnover declared in annual return (GSTR-9).
7A
Annual turnover as derived in Table 5P above would be auto-populated here.
7B
Value of exempted, nil rated, non-GST
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specified here.
12. Part III consists of reconciliation of the tax payable as per declaration in the reconciliation statement and the actual tax paid as declared in Annual Return (GSTR9). The instructions to fill this part are as follows :-
Table No.
Instructions
9
The table provides for reconciliation of tax paid as per reconciliation statement and amount of tax paid as declared in Annual Return (GSTR 9). Under the head labelled “RC”, supplies where tax was paid on reverse charge basis by the recipient (i.e. the person for whom reconciliation statement has been prepared) shall be declared.
9P
The total amount to be paid as per liability declared in Table 9A to 9O is auto populated here.
9Q
The amount payable as declared in Table 9 of the Annual Return (GSTR-9) shall be declared here. It should also contain any differential tax paid on Table 10 or 11 of the Annual Return (GSTR-9).
10
Reasons for non-reconciliation between payable / liability declared in Table 9P above and th
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dger in the financial year for which the reconciliation statement is being filed for shall be declared here. This shall include transitional credit which was booked in earlier years but availed during Financial Year 2017-18.
12C
Any ITC which has been booked in the audited Annual Financial Statement of the current financial year but the same has not been credited to the ITC ledger for the said financial year shall be declared here.
12D
ITC availed as per audited Annual Financial Statement or books of accounts as derived from values declared in Table 12A, 12B and 12C above will be autopopulated here.
12E
Net ITC available for utilization as declared in Table 7J of Annual Return (GSTR9) shall be declared here.
13
Reasons for non-reconciliation of ITC as per audited Annual Financial Statement or books of account (Table 12D) and the net ITC (Table12E) availed in the Annual Return (GSTR9) shall be specified here.
14
This table is for reconciliation of ITC declared in the Annual Re
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declared here.
14. Part V consists of the auditor's recommendation on the additional liability to be discharged by the taxpayer due to non-reconciliation of turnover or non reconciliation of input tax credit. The auditor shall also recommend if there is any other amount to be paid for supplies not included in the Annual Return. Any refund which has been erroneously taken and shall be paid back to the Government shall also be declared in this table. Lastly, any other outstanding demands which is recommended to be settled by the auditor shall be declared in this Table.
15. Towards, the end of the reconciliation statement taxpayers shall be given an option to pay their taxes as recommended by the auditor.
PART – B- CERTIFICATION
I. Certification in cases where the reconciliation statement (FORM GSTR-9C) is drawn up by the person who had conducted the audit:
* I/we have examined the-
(a) balance sheet as on ………
(b) the *profit and loss account/income and expendi
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………………………………….
…………………………………….
3. (b) *I/we further report that, –
(A) *I/we have obtained all the information and explanations which, to the best of *my/our knowledge and belief, were necessary for the purpose of the audit/ information and explanations which, to the best of *my/our knowledge and belief, were necessary for the purpose of the audit were not provided/partially provided to us.
(B) In *my/our opinion, proper books of account *have/have not been kept by the registered person so far as appears from*my/ our examination of the books.
(C) I/we certify that the balance sheet, the *profit and loss/income and expenditure account and the cash flow Statement are *in agreement/not in agreement with the books of account maintained at the Principal place of business at ………&h
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…………………………………………
(c) ……………………………………………………………………………………
………………………………………
………………………………………
**(Signature and stamp/Seal of the Auditor)
Place: ……………
Name of the signatory …………………
Membership No………………
Date: ……………
Full address ……………………&h
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………
(b) the *profit and loss account/income and expenditure account for the period beginning from ………..…to ending on …….,
(c) the cash flow statement for the period beginning from ……..…to ending on ………, and
(d) documents declared by the said Act to be part of, or annexed to, the *profit and loss account/income and expenditure account and balance sheet.
2. I/we report that the said registered person-
*has maintained the books of accounts, records and documents as required by the IGST/CGST/<<>>GST Act, 2017 and the rules/notifications made/issued thereunder
*has not maintained the following accounts/records/documents as required by the IGST/CGST/<<>>GST Act, 2017 and the rules/notifications made/issued thereunder:
1.
2.
3.
3. The documents required to be furnished under section 35 (5) of the CGST Act and Reconciliation Statement required to be furnished under section 44(2) o
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The Assistant Commissioner of GST & Central Excise Versus M/s. Sakthi Sugars Ltd.
Service Tax
2018 (10) TMI 564 – MADRAS HIGH COURT – TMI
MADRAS HIGH COURT – HC
Dated:- 3-9-2018
Civil Miscellaneous Appeal Nos.1004 and 1005 of 2018
Service Tax
Mr. T. S. Sivagnanam And Mrs. V. Bhavani Subbaroyan JJ.
For the Appellant : Mrs.Aparna Nandakumar, Senior Standing Counsel
For the Respondent : Mr.Akhil Suresh
COMMON JUDGMENT
T. S. SIVAGNANAM, J.
These appeals have been filed by the Revenue challenging the common order passed by the Customs, Excise and Service Tax Appellate Tribunal, South Zonal Bench, Chennai in Final Order Nos.41743 and 41782 of 2017 dated 08.08.2017.
2.The above appeals have been admitted on 26.04.2018,
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(iii) Whether the Hon'ble CESTAT has erred in law in deleting the mandatory penalty imposable under Section 76, 77 & 78 of the Finance Act, 1994, when there was a deliberate omission and evasion of payment service tax, which was detected pursuant to investigation?
(iv) Whether equal penalty is not imposable for deliberate evasion of payment of service tax when the same was invoked in Show Cause Notice in the remand cases?”
3. The learned Standing Counsel for the appellant has placed before this Court a communication sent by the Deputy Commissioner (Legal), Office of the Commissioner of GST & Central Excise, Salem dated 17.08.2018, stating that on account of the monetary limits in these appeals, which are lesser than the threshold lim
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GST – Tamil Nadu Goods and Services Tax Act, 2017 – Constitution of the Tamil Nadu Authority for Advance Ruling – Notified – Erratum – Issued.
G.O. Ms. No. 111 Dated:- 3-9-2018 Tamil Nadu SGST
GST – States
Tamil Nadu SGST
Tamil Nadu SGST
COMMERCIAL TAXES AND REGISTRATION (B1) DEPARTMENT
G.O. Ms. No. 111
Dated: 03.09.2018
Aavani-18
Thiruvalluvar Aandu, 2049
NOTIFICATION
The following erratum is issued to the Commercial Taxes and Registration Department Notification No.II(2)/C
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Seeks to prescribe the due dates for quarterly furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of upto 1.5 crores for the period from July, 2018 to April, 2019.
38/1/2017-Fin(R&C)(66) Dated:- 3-9-2018 Goa SGST
GST – States
Goa SGST
Goa SGST
GOVERNMENT OF GOA
Department of Finance
Revenue & Control Division
___
Notification
38/1/2017-Fin(R&C)(66)
In exercise of the powers conferred by section 148 of the Goa Goods and Services Tax, 2017 (Goa Act 4 of 2017) (hereafter in this notification referred to as the said Act), the Government of Goa, on the recommendations of the Council, hereby notifies the registered persons having aggregate turnover of up to 1.5 crore rupees in the preceding financial year o
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Amount received from sale of prospectus
Query (Issue) Started By: – ROHIT GOEL Dated:- 1-9-2018 Last Reply Date:- 3-9-2018 Goods and Services Tax – GST
Got 2 Replies
GST
That university registered u/s 12AA of Income Tax Act is receiving amount on account of sale of prospectus, practical books from staff and sale of uniform to staff members which is reflected as income in income and expenditure account.
Whether GST is leviable on such amount as services provided by educational institution to its students or faculty is exempt ??
Reply By ANITA BHADRA:
The Reply:
Education Services are classified in heading 9992 (as per Notification No. 11/2017-Central Tax (Rate)) and are further sub-divided into six groups (as per the Annexure
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Amount received for university annual function
Query (Issue) Started By: – ROHIT GOEL Dated:- 1-9-2018 Last Reply Date:- 3-9-2018 Goods and Services Tax – GST
Got 2 Replies
GST
One of our client having educational instituition registered u/s 12AA has received charges as participation fees in university annual cultural programme from students of other colleges and other members who are neither student nor faculty/staff. Educational institution has presented such amount in income and
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GST Revenue collection for August 2018 close to ninety-four thousand crore rupees
GST
Dated:- 1-9-2018
The total gross GST revenue collected in the month of August, 2018 is ₹ 93,960 crore of which CGST is ₹ 15,303 crore, SGST is ₹ 21,154 crore, IGST is ₹ 49,876 crore (including ₹ 26,512 crore collected on imports) and Cess is ₹ 7,628 crore (including ₹ 849 crore collected on imports). The total number of GSTR 3B Returns filed for the month of July up to 31st August, 2018 is 67 lakh. This is slightly higher than 66 lakh returns of the month of June filed up to 31st July, 2018. The last date of filing return of July, 2018 in the State of Kerala was extended upto 5th October, 2018.
The t
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cision to reduce the tax rate was taken in meeting held on 21st July while the notification of the reduced rate came into effect only from 27th July, 2018. Since it would have taken some time for the market to pass on the benefit of reduced taxes, consumers would have postponed their decision to buy expecting the benefit. The actual impact of reduction of rate of taxes would be observed only from next month onwards as the rate reduction would have got affected only in last few days of the month.
Even past trend of indirect tax collection shows that while July collections are 8.2% of the total annual collections, August collections are at a lower level of 7.7% of the total annual collections. This is another reason for lower collections dur
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Re-Import of Exported Goods in GST
Query (Issue) Started By: – Praveen Nair Dated:- 1-9-2018 Last Reply Date:- 5-9-2018 Goods and Services Tax – GST
Got 2 Replies
GST
Dear Experts,
The goods are exported by paying IGST and refund was claimed against exports.
Later the same material was rejected and then re-imported by paying IGST at the time of import, ITC credit has availed for the same.
Query:
a. Do we have to pay back IGST claimed as refund at the time of export? How to pay back?
b. If the IGST is paid back, how do we claim back the IGST if the same goods is re-exported?
Thank you
Pravin
Reply By ANITA BHADRA:
The Reply:
Notification No. 45/2017 – Customs; dt 30th June, 2017 covers different scenarios under which ex
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IGST Act Section 20: Pre-Deposit Requirement for Appeals Aligns with CGST Act to Streamline GST Appeals Process.
Act-Rules
GST
Application of provisions of Central Goods and Services Tax Act.
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Section 17 IGST Act 2017: Ensures Fair Tax Distribution Between Central and State Governments for Balanced Federal Revenue Sharing.
Act-Rules
GST
Apportionment of tax and settlement of funds.
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Understanding Section 13(3) IGST Act: Place of Supply Rules for Cross-Border Services and Imported Goods for Repairs.
Act-Rules
GST
Place of supply of services where location of supplier or l
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Section 12(8) of IGST Act: GTA Services Supply Location Based on Goods' Destination for GST Application in India.
Act-Rules
GST
Place of supply of services where location of supplier and reci
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IGST Act Section 8: Amendment Refines Definition of Intra-State Supply by Omitting “Business Vertical” Term.
Act-Rules
GST
Intra-State supply. – Section 8 of the IGST ACT, 2017 as amended – M
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