IGST Rate Schedule Updated: New Rates are 5%, 12%, 18%, 28%, 3%, and 0.25% per section 5(1) Notification.

IGST Rate Schedule Updated: New Rates are 5%, 12%, 18%, 28%, 3%, and 0.25% per section 5(1) Notification.
Notifications
GST
IGST Rate Schedule u/s 5(1) – notifying rates of IGST @ 5%, 12%, 18

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

CGST Rate Schedule Amended: New Rates at 2.5%, 6%, 9%, 14%, 1.5%, and 0.125% per Section 9(1).

CGST Rate Schedule Amended: New Rates at 2.5%, 6%, 9%, 14%, 1.5%, and 0.125% per Section 9(1).
Notifications
GST
CGST Rate Schedule u/s 9(1) – notifying rates of CGST @ 2.5%, 6%, 9%, 14%, 1.5

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

UTGST Rate Changes: Amended Rates u/s 7(1) Include 2.5%, 6%, 9%, 14%, 1.5%, and 0.125.

UTGST Rate Changes: Amended Rates u/s 7(1) Include 2.5%, 6%, 9%, 14%, 1.5%, and 0.125.
Notifications
GST
UTGST Rate Schedule u/s 7(1) notifying rates of UTGST @ 2.5%, 6%, 9%, 14%, 1.5% and 0.

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

LAST DATE FOR PAYMENT OF GST AND FILING OF RETURN 3B FOR JULY 2017 EXTENDED BY 5 DAYS

LAST DATE FOR PAYMENT OF GST AND FILING OF RETURN 3B FOR JULY 2017 EXTENDED BY 5 DAYS
GST
Dated:- 20-8-2017

The last date for payment of taxes and filing of GST Return in Form 3B for the month of July is 20th of August 2017. Since it is the first Return to be filed under GST, the tax payers and the tax practitioners have requested for few more days to file their Return. Also there have been requests from States which are hit with floods to extend the last date for filing of GST Returns. The State of Jammu & Kashmir has also requested for extension of time because of late passing of their GST Ordinance. Some technical glitches are also experienced by last minute return filers.
In order to take care of these issues, the GST Im

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Last Date for Payment of Gst and Filing of Return in Form GSTR 3B For July 2017 Extended By 5 Days

Last Date for Payment of Gst and Filing of Return in Form GSTR 3B For July 2017 Extended By 5 Days
GST
Dated:- 20-8-2017

The GST Implementation Committee, consisting of State and Central Government officers, has taken a decision to extend the last date for payment of the GST for the month of July 2017 to 25th August, 2017.
Earlier the last date for payment of taxes and filing of GST Return in Form 3B for the month of July was kept as 20th of August 2017. Since it is the first Return to be filed under GST, the tax payers and the tax practitioners have requested for few more days to file their Return. Also there have been requests from States which are hit with floods to extend the last date for filing of GST Returns. The Stat

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Export of services

Export of services
Query (Issue) Started By: – THYAGARAJAN KALYANASUNDARAM Dated:- 20-8-2017 Last Reply Date:- 21-8-2017 Goods and Services Tax – GST
Got 7 Replies
GST
Dear expert,
Modus operandi of our business
We are providing services to various customers located in US as staff recruitment services. And the billing is made only from US office to our customers. And the company having branch office located in India and reimbursed all expenses made in India with some profit from our US office against the invoice raised by Indian branch to US office. And we get all the payment only foreign convertible currency.
My query is
1.whether are we Exporter of service?
2. If yes do we have to execute the bond or LUT as the case m

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

recipient of service are not merely establishments of a distinct person in accordance with Explanation 1 in section 8 (as under).
Explanation 1.For the purposes of this Act, where a person has, (i) an establishment in India and any other establishment outside India; (ii) an establishment in a State or Union territory and any other establishment outside that State or Union territory; or (iii) an establishment in a State or Union territory and any other establishment being a business vertical registered within that State or Union territory, then such establishments shall be treated as establishments of distinct persons.
As stated above, services supplied by Indian office to US office of the same company is not export of service although Ind

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

gst registration how to do?

gst registration how to do?
Query (Issue) Started By: – Vrushali Khadsare Dated:- 19-8-2017 Last Reply Date:- 20-8-2017 Goods and Services Tax – GST
Got 4 Replies
GST
I do not have gst number , how I can generate my new gst number on line, pls. Help me .
Reply By KASTURI SETHI:
The Reply:
First arrange the docs. Aadhar card, PAN, Proof of ownership or rent deed of business premises, residence proof, Bank account details water bill or electricity bill etc. Then visit gst.gov.in. T

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Wrong GSTIN No. in Bill of Entry

Wrong GSTIN No. in Bill of Entry
Query (Issue) Started By: – Anil Kumar Dated:- 19-8-2017 Last Reply Date:- 20-8-2017 Customs – Exim – SEZ
Got 3 Replies
Customs
Wrong GSTIN declared by CHA in Bill of Entry now what happens and what can id do
Reply By Rajagopalan Ranganathan:
The Reply:
Sir,
You approach the proper customs Authority to amend your Bill of entry.
Reply By RAMESH PRAJAPATI:
The Reply:
Please file your application with the Commissioner of Customs of port of import f

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

IGST Rate on Tractor Parts Reduced from 28% to 18% for Enhanced Affordability and Agricultural Support.

IGST Rate on Tractor Parts Reduced from 28% to 18% for Enhanced Affordability and Agricultural Support.
Notifications
GST
Rate of IGST reduced on specified parts of tractors from 28% to 18 %

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Reverse Charge on import of services from affiliate company

Reverse Charge on import of services from affiliate company
Query (Issue) Started By: – Yatin Bhopi Dated:- 19-8-2017 Last Reply Date:- 19-8-2017 Goods and Services Tax – GST
Got 2 Replies
GST
Dear Sir
We have parent company abroad who give us various services like Professional, IPR, management consultancy services etc. The billing cycle is quarterly (we cant shift billing cycle on monthly basis) and they also raise the invoice and we make payment on due date.
Since billing cycle is quarterly we make monthly provision for expenses in the books of accounts. In service tax we used to make payment on provision basis. many times provision was excess as compare to invoice raise by parent company and we used to adjust this excess p

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

entries. in our case raising of invoice and making payment is also happening.
Please share your views
Reply By Rajagopalan Ranganathan:
The Reply:
Sir,
Section 31 (2) of CGST Act, 2017 stipulates that "A registered person supplying taxable services shall, before or after the provision of service but within a prescribed period, issue a tax invoice, showing the description, value, tax charged thereon and such other particulars as may be prescribed:
Provided that the Government may, on the recommendations of the Council, by notification and subject to such conditions as may be mentioned therein, specify the categories of services in respect of which(a) any other document issued in relation to the supply shall be deemed to be a tax i

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

services as may be notified by the Government on the recommendations of the Council, making taxable supplies of services between distinct persons as specified in section 25, may issue the invoice before or at the time such supplier records the same in his books of account or before the expiry of the quarter during which the supply was made.
In my opinion the second proviso to rule 47 will help you to find a solution in your case.
Reply By RAMESH PRAJAPATI:
The Reply:
As per Sr No 4 of the Schedule I of the CGST Act, " Import of services by a taxable person from a related person or from any of his other establishments outside India, in the course or furtherance of business" is a supply even it is made without consideration. Fur

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Registration under Composition Scheme

Registration under Composition Scheme
Query (Issue) Started By: – kamdev senapati Dated:- 19-8-2017 Last Reply Date:- 20-8-2017 Goods and Services Tax – GST
Got 3 Replies
GST
Dear Experts,
One Trader registered under GST composition scheme (quarterly return) and the turn over is below 75lacs
But the Trader wants to adopt Regular Scheme/Regular Business (Monthly Return) under GST.
How to process the same..
Is it possible to change over the same now…
Please guide on this….
R

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

TRN -1 SUBMISSION

TRN -1 SUBMISSION
Query (Issue) Started By: – nandankumar roy Dated:- 19-8-2017 Last Reply Date:- 20-8-2017 Goods and Services Tax – GST
Got 9 Replies
GST
we are filling TRN-1 . So pl tell input credit agst RCM can taken in this month or to be claim in next month only.so i have to change return and another thing we have credit of cenvat appx 1 core and in vat no credit and C FORM collection due appx 4 crore out of 10 cores 2% sales , in this situation vat liability will be arise how much amt ,pl confirm when we are going to submit TRN1 whether we have to pay cash agst vat liability amount agst not recd of c form amount or it will be adjust agst cenvat.
With Regards,
N KROY
–
Reply By RAMESH PRAJAPATI:
The Reply:
RCM credit

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

eans the credit of the reverse paid can be adjusted in subsequent month.
Reply By KASTURI SETHI:
The Reply:
Rightly advised by Sh.Kalyani ji. Also go through FAQs issued by the Board. There is solution to this problem. You will get benefit of credit against liability of Form C. You will not find the word Form C. There is provision for deemed credit. I think it will cover credit against your liability of Form C.
Reply By RAMESH PRAJAPATI:
The Reply:
By a tweet , GOI has clarified that ITC in case RCM can be taken and utilised in the same month. In support of this a well drafted article "when can one take ITC for RCM Cases" has been published by TMI today itself.
Reply By KASTURI SETHI:
The Reply:
Yes. Sir.Only condition is to

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

transitional credit.

transitional credit.
Query (Issue) Started By: – priyesh agrawal Dated:- 19-8-2017 Last Reply Date:- 31-8-2017 Goods and Services Tax – GST
Got 19 Replies
GST
BACKGROUND
The assessee is dealing in extracting oil from cotton seed. earlier in VAT both oil and cotton seed cake were taxable but due to rate differences, they have a huge amount of credit lying in their stock in VAT regime.
ISSUE
in GST cotton seed oil cake is exempt as is used as cattlefeed. so if we carry the credit under sec 140(1) to GST will we be allowed to carry whole credit or has to reverse proportionate credit.
Further what will happen if credit is in excess of the tax paid on the stock lying on 30.06.2017(eg: input credit is of 15 lac, but tax paid on stock lying as on 30.06.2017 is of ₹ 5lac only.)
Reply By Rajagopalan Ranganathan:
The Reply:
Sir,
Section 140 (1) of CGST Act stipulates that "a registered person, other than a person opting to pay tax under section 10, shall be entitle

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

seed cake is mentioned as exempt in the FAQs advertised in the newspaper by CBEC. However there is no Notification clarifying that cotton seed cake is exempt.
Reply By KASTURI SETHI:
The Reply:
Full credit will not be allowed. Regarding the point raised by Sh.Kalyani Sir, if tariff rate is nil, no need of notifications. In pre- GST era, tariff rate was nil and now under 2306 is nil. Correct HSN 2306.10.
Reply By priyesh agrawal:
The Reply:
Rajagopalan sir, I know the provision but need help in interpretation. How to interpret word admissible. And will we get 100% credit. And what will happen in the case I mention in last paragraph.
Kalyani ji as per notification no 2/2017 cgst rate cotton seed oil cake is exempt if used as cattle feed. Thus as per rule 42 we will get proportional credit.
Kasturiji can you please put some more light on the case I mentioned in last paragraph of my query.
Thank you all of you for your prompt reply.
Reply By KASTURI SETHI:
The Reply:
Sh.Pyuish Ag

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

(iii) ? If you fulfil that condition, proportionate reversal is required from ₹ 15 lakhs which is provisional.
Reply By priyesh agrawal:
The Reply:
Sir but my query relates to 140(1) as assessee is already registered in VAT
Reply By Rajagopalan Ranganathan:
The Reply:
Sir,
Section 140 (1) of CGST Act, 2017 deals with cenvat credit. Cenvat credit deals with credit of cenvat duty paid on manufactured goods and service tax paid on output services.
Section 140 (1) of Madhaya predesh SGST Act, deals with credit of VAT. This section talks about "credit of the amount of Value Added Tax, if any, carried forward in the return relating to the period ending with the day immediately preceding the appointed day, Even this Act stipulates that the registered person shall not be allowed to take credit where the said amount of credit is not admissible as input tax credit under this Act (Madhayapredesh SGST Act). Therefore if cotton seed oilcake is exempted under State GST Act, the you

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

also involved.
We have already planned to reverse the credit but were having a doubt over to reverse on whole 15 or on 5 only as tax paid on stock lying in closing stock is of rupees 5 lac only.
Reply By Ganeshan Kalyani:
The Reply:
I would request the querist to reproduce the phrase / text from the Notification which states that Cotton Seed Cake is exempt if it is used in Cattle Feed manufacturing.
To my knowledge the 'Oil cake' is taxable and 'De-oiled cake ' is exempt. Cotton Seed Cake contains oil , so it is taxable.
Reply By KASTURI SETHI:
The Reply:
If taxable supply is also involved then proportionate reversal of ₹ 15 lakhs required.
Reply By priyesh agrawal:
The Reply:
Notification 2/2017 central rate entry no 102 read as follows:
Aquatic feed including shrimp feed and prawn feed, poultry feed & cattle feed, including grass, hay & straw, supplement & husk of pulses, concentrates & additives, wheat bran & de-oiled cake.
On interpretation of the

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

it is mentioned that it is exempt. The clarification in the advertisement has a disclaimer that it is only for educational purpose. It has no legal validity.
Reply By KASTURI SETHI:
The Reply:
Dear Querist,. You day your query relates to Section 140 (1) but it is not your choice or option. You are hit by Section 140 (3). First be sure about taxability of your product as advised by Sh.Ganeshan Kalyani, an expert. Pl. deeply into all the aspects involved in this situation.
Reply By vijay kumar:
The Reply:
Mr.Priyesh,
If taxable supplies are also involved post-GST, I think the entire credit lying in balance as on 1.7.2017 can be carried forward. Sn.140(1) specifies only 3 conditions. First condition is that credit shall be eligible under both the laws – in this case, credit was eligible under VAT act and is eligible under GST also since it is meant for furtherance of business (if taxable and exempted supplies are there, you are governed by Section 17) . Second condition of previous

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =