Goods and Services Tax – GST – A “Limited Liability Partnership” formed and registered under the provisions of the Limited Liability Partnership Act, 2008 (6 of 2009) shall also be considered as a par
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Goods and Services Tax – GST – exemption modified relating to National Agricultural Insurance Scheme (Rashtriya Krishi Bima Yojana) – now the exemption shall be available to Pradhan Mantri Fasal BimaY
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Goods and Services Tax – GST – exemption modified relating to Weather Based Crop Insurance Scheme or the Modified National Agricultural Insurance Scheme – now it shall be available to Restructured Wea
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Goods and Services Tax – GST – Service provided by Fair Price Shops to State Governments or Union territories by way of sale of kerosene, sugar, edible oil, etc. under Public Distribution System (PDS)
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Goods and Services Tax – GST – Service provided by Fair Price Shops to Central Government by way of sale of wheat, rice and coarse grains under Public Distribution System(PDS) against consideration in
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Goods and Services Tax – GST – services provided by and to Fédération Internationale de Football Association (FIFA) and its subsidiaries directly or indirectly related to any of the events under FIFA
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Goods and Services Tax – Started By: – MohanLal tiwari – Dated:- 22-8-2017 Last Replied Date:- 23-8-2017 – Please advise whether we should include following balance of Excise regime in GST TRANS -1 5a, 5b, 5c – amount of tax credit carried forward 1. Balance of PLA 2. Balance of Cess 3. Balance of Higher Education Cess. In addition to above, we are not finding any column in GSTR-1 to furnish the details of transitional Excise Invoices against which cenvat credit could not availed as materials received in July'17. – Reply By Himansu Sekhar – The Reply = 1. The tran1 is for transfer of credit, not pla balance 2. E.cess and she cess cannot be transferred, board clarified in FAQ. – Reply By Himansu Sekhar – The Reply = Gstr1 is for outward
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Goods and Services Tax – Started By: – Mehul Pandya – Dated:- 22-8-2017 Last Replied Date:- 23-8-2017 – Dear sir,We have paid ₹ 15,00,000/- Service Tax under R.C.M. for the month of June – 2017 on 05.07.2017 i.e. in July – 2017. Normally we were claiming the same as Cenvat Credit against our Excise Liability of the next month. How can we claim the ITC of this amount..Thank you – Reply By Himansu Sekhar – The Reply = This question to be debated – Reply By Ganeshan Kalyani – The Reply = The
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Goods and Services Tax – Started By: – rakesh rohilla – Dated:- 22-8-2017 Last Replied Date:- 23-8-2017 – Dear All,I have a query that Vat registered dealer had got an invoice dated 26.06.2017 before GST implementation and invoice showing separately Excise duty and CST of 1.5%. Can I book credit of excise duty on this bill in GST and I book the purchase against C form also. Vat dealer is not registered in Excise and he is a trader only and filled all the returns continuously.In my view, i can book credit of excise but not on CST as i book against C form. – Reply By Himansu Sekhar – The Reply = You can take this credfitb inn Tran 1, Please refer to sec 140(3) of cgst Act – Reply By rakesh rohilla – The Reply = thanks himansu, i have seen tr
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Goods and Services Tax – Started By: – sanjeev jadhav – Dated:- 22-8-2017 Last Replied Date:- 23-8-2017 – Dear Sir, We manufacturer of Alloy Steel and Stainless Steel castings. Earlier we registered with Central Excise and Service Tax and recently migrated in GST. We have submitted our ER-1 and ST-3 return on due date. We have missed to take Cenvat credit of some of the invoices of March to June 2017 (Excise and Service Tax Credit). Can Cenvat credit of all missing invoices will be eligible in GST TRAN-1 ? Also we have deposited Service tax amount of June 2017 during August 2017 under RCM. Can we file Refund application for RCM amount ? Hoping your kind suggestion in this regard. – Reply By KASTURI SETHI – The Reply = Refund is not allowed
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Goods and Services Tax – Date and conditions for filing the return in FORM GSTR-3B for the month of July, 2017 – See the notification as amended – TMI Updates – Highlights
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Goods and Services Tax – Started By: – Som Pal – Dated:- 22-8-2017 Last Replied Date:- 22-8-2017 – This is All India Institute of Ayurveda conducting PG course and running OPD services. Kindly confirm whether this Institute is required for registration GST. Our most of supplier refused to supply material unless the institute provide GST number. – Reply By KASTURI SETHI – The Reply = Health care services are exempted from GST. Services are exempted but supply of medicine is not exempted. If you
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GST – States – Gujarat Government did not insert the New Rule 44A in the GGST Rules, 2017 in contrast with the inclusion of Rule 44A by the Central Govt. in CGST, Rules, 2017 and various other states,
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Goods and Services Tax – Started By: – MohanLal tiwari – Dated:- 22-8-2017 Last Replied Date:- 22-8-2017 – We are regularly supplying goods to PSUs namely Bhilai Steel Plant & NALCO, we have some rejections against supplies of pre-GST regime for free replacement. Both PSUs are insisting for lifting back the rejected materials under their gate pass. They are not willing to issue any Tax (GST) Invoice for rejection return and wants replacement under GST invoice. Please advise how to get credi
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Goods and Services Tax – Started By: – Mayank Gupta – Dated:- 22-8-2017 Last Replied Date:- 22-8-2017 – Dear Sir, I sell GST exempted books online on Amazon and Flipkart. My question is whether I need to file returns under B2C section or Nil Rate/Exempted supply section of GSTR 1. – Reply By KASTURI SETHI – The Reply = If you sell exempted goods no registration is required. No return is to be filed. – Reply By Mayank Gupta – The Reply = Sir I am selling on e-commerce platforms like Flipkart and Amazon. I think registration is required. – Reply By KASTURI SETHI – The Reply = Read Section 23 of CGST Act and HSN 49 and post your views here. Both should be read together and not in isolation. – Reply By Mayank Gupta – The Reply = Sir what you a
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FAQ FOR GOVERNMENT DEPARTMENTS, LOCAL AUTHORITIES AND OTHER LINE DEPARTMENT – Goods and Services Tax – GST – Dated:- 22-8-2017 – FAQ FOR GOVERNMENT DEPARTMENTS, LOCAL AUTHORITIES AND OTHER LINE DEPARTMENT – News – Press release
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Goods and Services Tax – Started By: – N Balachandran – Dated:- 22-8-2017 Last Replied Date:- 22-8-2017 – Dear sir,We have received order from Customer who is located in out side India for supply of equipment at Oman. We intend to purchase the equipment from China and supply to Customer directly from there. Chinese Company will bill to our company in India and inturn , we will bill to Customer located outside India. I would like to know the GST impact on this transaction. RegardsN.Balachandran
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Goods and Services Tax – Started By: – MohanLal tiwari – Dated:- 22-8-2017 Last Replied Date:- 24-8-2017 – While filing Trans-1, we didn't find place for submitting details of inward supply Invoices issued in June but received in after filing ER-1 return of Central Excise and Cenvat credit could not be availed. The credit of Excise duty was supposed to be taken through transitional provision. – Reply By Himansu Sekhar – The Reply = Since you are an existing assessee your cb to be transferred through tran 1. When you have filed,both of them and there is no chance of revising them,chances of taking credit is dim. Tran1 cannot be revised, as appears. – Reply By MohanLal tiwari – The Reply = Dear Mr Shekhar My question was under which of t
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Income Tax – Disallowance of business expenditure – Interest income – The principal source of recurring income of the assessee is from the members – it was absolutely necessary for the assessee to mai
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Goods and Services Tax – GST – By: – CA.VINOD CHAURASIA – Dated:- 22-8-2017 Last Replied Date:- 23-8-2017 – Introduction Export will be treated as zero-rated supply. Under zero-rated supply, IGST paid on export goods or the input tax credit proportionate to the goods and services consumed in goods exported under bond /LUT would be refunded. Duty Drawback No amendments have been made to the drawback provisions (Section 74 or Section 75) under Customs Act 1962 in the GST regime. Hence, the drawback scheme will continue in terms of both section 74 and section 75. Option of All Industry Rate (AIR) as well as Brand Rate under Section 75 shall also continue. Drawback under Section 74 will refund Customs duties as well as Integrated Tax and Compensation Cess paid on imported goods which are re-exported. At present Duty Drawback Scheme under Section 75 neutralises Customs duty, Central excise duty and Service Tax chargeable on any imported materials or excisable materials used or taxable serv
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on of input taxes. Similarly, the exporter can claim brand rate for Customs, Central Excise duties and Service Tax during this period. Exporters also have the option of claiming only the Customs portion of AIR and claim refund/ITC under GST laws. All Industry Rates for the transition period have been notified effective from 01.07.2017. The AIR for post transition period shall be notified in due course of time. The certificates from jurisdictional GST officer as referred above may not be available during initial days. As per Systems design, whenever higher rate (composite rate) of drawback is claimed, the non-availment of credit certificate is a mandatory document and unless it is recorded as available, shipping bill will not move to LEO stage. In such a situation, all field formations shall ensure that exports are not delayed for requirement of the said certificate. The way out in such situation for the exporter is to amend the shipping bill to claim lower rate. The exporter will have
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k. Refund of IGST paid on exports and Export under Bond scheme Under GST regime exports would be considered as zero-rated supply. Any person making zero rated supply (i.e. any exporter) shall be eligible to claim refund under either of the following options, namely: – (a) he may supply goods or services or both under bond or Letter of Undertaking without payment of integrated tax and claim refund of unutilised input tax credit; or (b) he may supply goods or services or both on payment of integrated tax and claim refund of such tax paid on goods or services or both supplied, in accordance with the provisions of section 54 (Refunds) of the Central Goods and Services Tax Act or the rules made there under (i.e Refund Rules 2017). For the option (a) Procedure to file refund has been outlined in the Refund Rules under GST. The exporter claiming refund of IGST will file an application electronically through the Common Portal, either directly or through a Facilitation Centre notified by the GS
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presently shall be dispensed with except in respect of commodities to which provisions of Central Excise Act would continue to be applicable. Change in export Procedures Electronic as well as manual Shipping Bill formats including Courier Shipping Bill have been amended to include GSTIN and IGST related information so as to ensure that the export benefits like refund of IGST paid as well as accumulated input tax credit can be processed seamlessly. Modified Forms are available on the departmental website, www.cbec.gov.in. Export under factory stuffing procedures For the next 3 months, factory stuffing shall be carried out as per present prevailing procedures (i.e. to be carried out under the supervision of Central Excise officers). Important websites providing Information & guidance on GST CBEC WEBSITE – www.cbec.gov.in GSTN WEBSITE – www.gstn.org GST COUNCIL WEBSITE – www.gstindia.com/tag/gst-council CBEC MITRA – cbecmitra.helpdesk@icegate.gov.in Toll free helpline – 1800-1200-232
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Goods and Services Tax – GST – By: – CA.VINOD CHAURASIA – Dated:- 22-8-2017 – Accounts & Records To Be Maintained Under GST (Sec. 35, 36 & Rules 56 to 58 of CGST Act) Sec. 35 (1) – Every registered person shall keep and maintain at his Principle Place of Business, true and correct account of: Production or manufacture of goods; Inward and outward of goods or services or both; Stock of goods; Input tax credit availed; Output tax payable and paid; and Such other particulars as be prescribed In case of multiple place of business, such related accounts records or accounts are to be kept and maintained at such place of business. These accounts and records may also be kept and maintained in electronic form as per the manner prescribed. Sec 35(3) – The commissioner may also notify additional accounts or documents to be maintained by such specified class of taxable persons. Sec 35(4) – The commissioner may also relax the provisions of keeping and maintaining accounts and records in re
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ng of Annual Return. In case of appeal or revision or any other proceedings or investigation, such records shall be retained for a period of 1 year after disposal of such appeal or revision or proceedings or investigation or for the period as specified above. ACCOUNTS AND RECORDS RULES Rule 56. Maintenance of accounts by registered persons.- (1) Every registered person shall keep and maintain, in addition to the particulars mentioned in sub-section (1) of section 35, a true and correct account of the: goods or services imported or exported, supplies attracting payment of tax on reverse charge along with the relevant documents, including invoices, bill of supply, delivery challans, credit notes, debit notes, receipt vouchers, payment vouchers and refund vouchers. (2) Every registered person, other than Composition dealer, shall maintain the accounts of stock in respect of: goods received and supplied by him, and such accounts shall contain particulars of the opening balance, receipt, su
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he complete address of the premises where goods are stored by him, including goods stored during transit along with the particulars of the stock stored therein. (6) If any taxable goods are found to be stored at any place(s) other than those declared under sub-rule (5) without the cover of any valid documents, the proper officer shall determine the amount of tax payable on such goods as if such goods have been supplied by the registered person. (7) Every registered person shall keep the books of account at the principal place of business and books of account relating to additional place of business mentioned in his certificate of registration and such books of account shall include any electronic form of data stored on any electronic device. (8) Any entry in registers, accounts and documents shall not be erased, effaced or overwritten, and all incorrect entries, otherwise than those of clerical nature, shall be scored out under attestation and thereafter, the correct entry shall be rec
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incipal; (d) details of accounts furnished to every principal; and (e) tax paid on receipts or on supply of goods or services effected on behalf of every principal. (12) Every registered person manufacturing goods shall maintain monthly production accounts showing quantitative details of: raw materials or services used in the manufacture and the goods so manufactured including the waste and by products thereof. (13) Every registered person supplying services shall maintain the accounts showing quantitative details of: goods used in the provision of services, details of input services utilised and the services supplied. (14) Every registered person executing works contract shall keep separate accounts for works contract showing – (a) the names and addresses of the persons on whose behalf the works contract is executed; (b) description, value and quantity (wherever applicable) of goods or services received for the execution of works contract; (c) description, value and quantity (wherever
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oods in the capacity of a carrier or a clearing and forwarding agent for delivery or dispatch thereof to a recipient on behalf of any registered person shall maintain true and correct records in respect of such goods handled by him on behalf of such registered person and shall produce the details thereof as and when required by the proper officer. (18) Every registered person shall, on demand, produce the books of accounts which he is required to maintain under any law for the time being in force. Rule 57. Generation and maintenance of electronic records.- (1) Proper electronic back-up of records shall be maintained and preserved in such manner that, in the event of destruction of such records due to accidents or natural causes, the information can be restored within a reasonable period of time. (2) The registered person maintaining electronic records shall produce, on demand, the relevant records or documents, duly authenticated by him, in hard copy or in any electronically readable f
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GST – States – SRO-GST-4(Rate) – Dated:- 22-8-2017 – Government of Jammu and Kashmir Finance Department Notification Srinagar, the 22nd of August, 2017 SRO-GST-4(Rate) – In exercise of the powers conferred by sub-section (1) of section 9 of the Jammu and Kashmir Goods and Services Tax Act, 2017, the Government, on the recommendations of the Council, hereby makes the following amendment in the notification SRO-GST 13 dated the 8th July, 2017, namely:- In the said notification,- (i) in the Table,
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GST – States – SRO-GST-5(Rate) – Dated:- 22-8-2017 – Government of Jammu and Kashmir Finance Department Notification Srinagar, the 22nd of August, 2017 SRO-GST-5(Rate).- In exercise of the powers conferred by sub-section (1) of section 9 of the Jammu and Kashmir Goods and Services Tax Act, 2017, the Government, on the recommendations of the Council, hereby makes the following amendment in the notification SRO-GST 17 dated the 8th July, 2017, namely:- In the said notification, in the first parag
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GST – States – Trade Notice No. 04/2017-18 – Dated:- 22-8-2017 – OFFICE OF THE COMMISSIONER, GOODS & SERVICES TAX HQRS. = = = = = = = = Plain text (Extract) only = = = = = = = =
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GST – States – G.O. Ms. No. 23/2017-Puducherry GST (Rate) – Dated:- 22-8-2017 – GOVERNMENT OF PUDUCHERRY COMMERCIAL TAXES SECRETARIAT [G.O. Ms. No. 23/2017-Puducherry GST (Rate), Puducherry, dated 22nd August 2017] NOTIFICATION In exercise of the powers conferred by sub-section (5) of section 9 of the Puducherry Goods and Services Tax Act, 2017 (Act No. 6 of 2017), the Lieutenant-Governor, Puducherry, on the recommendations of the Council, hereby makes the following amendments in the notificati
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