Goods and Services Tax

Rule 1 – Final Rules (Draft) – Input Tax Credit – GST – Input Tax Credit – Final Draft Rules 18-5-2017 – Rule 1 – CHAPTER Input Tax Credit 1. Documentary requirements and conditions for claiming input tax credit (1) The input tax credit shall be availed by a registered person, including the Input Service Distributor, on the basis of any of the following documents, namely:- (a) an invoice issued by the supplier of goods or services or both in accordance with the provisions of section 31; (b) an invoice issued in accordance with the provisions of clause (f) of sub-section (3) of section 31, subject to payment of tax; (c) a debit note issued by a supplier in accordance with th

= = = = = = = =

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

= = = = = = = =

Goods and Services Tax – GST – Dated:- 3-4-2017 – New Delhi, Apr 2 (PTI) The Finance Ministry today placed 8 set of rules in public domain, which will be applicable once the Goods and Services Tax (GST) is implemented from July 1. The government has sought comments from industry on the 4 set of new rules on – GST Composition, GST Valuation, GST Transition and GST ITC. These rules had received the tentative approval at the the GST Council meeting on March 31. Further, the Central Board of Excise and Customs (CBEC) has come out with 4 set of revised rules on – GST Invoice, GST Payment, GST Refund and GST Registration. These rules had secured final approval at the Council meeting last week. However, the CBEC is yet to place the final rules on

= = = = = = = =

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

= = = = = = = =

invoice value shall be accepted for valuation of inter-state supplies within the same entity, it needs to be clarified as to any value declared by the companies would be acceptable by the authorities. There is an indication that insurance companies, banking company, and telecom operator, would get some relief in case of self-supplies as they can issue the invoice on a quarterly basis, Mohan said. Also, the CBEC has put up on its website 223-page FAQs on the basis of CGST, SGST, IGST, UTGST and Compensation Cess laws, along with a host of rules approved by GST Council. The Lok Sabha last month had approved the Central GST (CGST), Integrated GST (IGST), Union Territory GST (UTGST) and the Compensation to states law. Now, the state assemblies

= = = = = = = =

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

= = = = = = = =

Goods and Services Tax – GST – Dated:- 3-4-2017 – New Delhi, Apr 2 (PTI) Tax evasion of over ₹ 5 crore under the GST regime would be non-bailable offence with the police having authority to make an arrest without a warrant. The Central GST (CGST) Act provides that if the offences relating to taxable goods and/or services where the amount of tax evaded or the amount of input tax credit wrongly availed or the amount of refund wrongly taken exceeds ₹ 5 crore, shall be cognizable and non-bailable. In a 223-page FAQ on Goods and Services Tax (GST), the CBEC said other offences under the act are non-cognizable and bailable. The government has set a target date of July 1 for roll out of the GST, which will subsume central excise, serv

= = = = = = = =

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

= = = = = = = =

t. If a person is arrested for a non-cognizable and bailable offence, the Deputy/ Assistant Commissioner of CGST/SGST can release him on bail and he will be subject to the same provisions as an officer in-charge of a police station under section 436 of the Code of Criminal Procedure, 1973. The FAQ provides that, if a person does not appear before a CGST/SGST officer who has issued the summon, he is liable to a penalty of up to ₹ 25,000. Also, the tax department have guidelines to ensure that summon provisions are not misused by field officers. As per the guidelines, summons are to be issued as a last resort where assessees are not co-operating and this should not be used for the top management. Also the language of the summons should

= = = = = = = =

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

= = = = = = = =

Goods and Services Tax – GST – FAQ – CBEC issues Frequently Asked Questions on GST – TMI Updates – Highlights

= = = = = = = =

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

= = = = = = = =

Goods and Services Tax – GST – By: – Bijay Shrestha – Dated:- 3-4-2017 Last Replied Date:- 3-4-2017 – As we all know that the whole nation has been dreaming for the biggest indirect tax reform i.e. implementation of the Goods and Service Tax (GST) for a decade, it is going to become a reality soon. Ever since the thunder of GST has hit the nation, there are various assumptions, presumptions, and expectations etc. among the different stakeholders such as government, consumers, companies etc. as to how this biggest indirect tax regime is going to affect them. Named as One Nation One tax (though not, due to different rate structure), since the GST is going to have a huge impact in various sectors such as manufacturing, trading, banking and finance, telecommunication, real estate etc., every sector is busy in migrating to the GST, preparing the road map for GST implementation, formulating the plans to encounter any negative impacts and coming up with new designing and projections to boost

= = = = = = = =

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

= = = = = = = =

sequently, many tribunals, high courts and the Supreme Court have given different judgments with regard to such issues. Moreover, the Real Estate Builder/Developer is not eligible to take credit of custom duty, excise duty which will add to the cost of constructions ultimately increasing the prices of apartments, flats etc. Also there is no provision to take credit of VAT against Service tax and vice versa. Due to the multiple taxes, the Builder/Developer has to maintain various books and records under different taxes, file multiple returns/forms and many times has to encounter with various tax authorities, which will ultimately increase the compliance cost and time. To reduce such harassment that is there due to multiple taxes, GST is expected to be the game changer which will subsume or replace various existing indirect taxes. The implementation of GST is likely to improve transparency and reduce tax evasion on account of better enforcement and compliance and possibly reduce cost of

= = = = = = = =

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

= = = = = = = =

ee the correct picture of GST and its impact on the Real Estate Sector. After passing of these four Bills, still State Assemblies have to pass the respective State GST i.e. SGST Bills. Also the Government has yet to decide classification of goods and services under different rate structure; Valuation methods and rules; abatements and exemptions (currently available under service tax); reverse charge implications; implication of stamp duty on under-construction properties etc. etc. Because of these reasons, the exact magnitude of impact of GST on the sector cannot be determined as of now but would have to depend upon the actual implementation of the GST. But yes, the GST, a long awaited tax reform which is expected to improve India's GDP by at least 2% to 3% aims to consolidate various state and central taxes into a single tax thus making it one of the biggest tax reforms and making the country one unified market. Let s hope and see what GST will bring in coming days. Disclaimer: Th

= = = = = = = =

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

= = = = = = = =

Goods and Services Tax – GST – By: – Bimal jain – Dated:- 3-4-2017 Last Replied Date:- 30-12-1899 – Dear Professional Colleague, 13th GST Council Meeting: Important Takeaways The prospects of rollout of the Goods and Services Tax (GST) from July 1, 2017 has been brightened further, when the all-powerful GST Council chaired by the Hon ble Finance Minister, Mr. Arun Jaitley met for the thirteenth time in a row to clear all gathered clouds over the GST and brightening its prospects of implementation soon. With the conclusion of the 13th GST Council meet on March 31, 2017, the gist of the key takeaways from the meeting of the GST Council are as under: Five set of Draft Rules originally approved to be altered in consonance with the GST legislat

= = = = = = = =

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

= = = = = = = =

will be finalised in the GST Council s next meeting. Final approval to these 4 Draft Rules and rate structure to be taken up in next meeting: The Hon ble Finance Minister said that The next meeting will be held on 18-19 May in Srinagar where besides these rules which will be given final approval, the rate structure in relation to individual commodities will be taken up for consideration. In the meanwhile, the officers committee will start working on the fitment of those rates . Thus, the final nod to the new 4 sets of Draft Rules as well as fixation of GST rates for goods and services will be done in the next meeting of the GST Council scheduled on 18-19 May, 2017. From the recent series of steps that out of 9 Draft Rules, 5 Draft Rules we

= = = = = = = =

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

= = = = = = = =

Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 3-4-2017 – Finance Commission Article 280 of the Constitution of India provides for the establishment of the Finance Commission. According to Article 280(1) the President of India shall, within four years from the commencement of the Constitution and thereafter at the expiration of every 5th year or at such earlier time as the President considers necessary constitute a Finance Commission. 14 Finance Commissions have so far constituted. Currently the 14th Finance Commission is functioning. Distribution of tax proceeds among Central and States Among the various functions, the Finance Commission is to suggest the criteria of distribution between the Union and States of the net proceeds of taxes which are to be or may be divided between them and the allocation of shares of the proceeds of such taxes in percentages between them. The Finance Commission recommends to the President in the above matter. The President normally w

= = = = = = = =

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

= = = = = = = =

IX Finance Commisison 85% 90 10 X Finance Commission 77.5% 90 10 Source: Finance Commission Reports Recommendations of Finance Commission on excise duty Finance Commission State share of Excise duty Distribution of excise duty to the States on the basis of Population Backwardness of States % of the poor in the States etc., I Finance Commission 40% of 3 duties 40 60 II Finance Commission 25% of 8 duties 40 60 III Finance Commission 20% of 35 duties 40 60 IV Finance Commission 20% of 45 duties 80 20 V Finance Commission 20% of 45 duties 80 20 VI Finance Commission 20% of 45 duties 75 25 VII Finance Commission 40% of all duties 25 75 VIII Finance Commission 45% of all duties 25 75 IX Finance Commission 45% of all duties 25 75 X Finance Commission 45% of all duties 20 80 Source: Finance Commission Reports Apart from the income tax, excise duty the Central has levied and collected additional excise duties and the entire proceeds after deducting the share of the Union territories are distri

= = = = = = = =

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

= = = = = = = =

ere the registered person is not eligible for input tax credit; in respect of inter-State supply of goods or services or both made in a financial year to a registered person, where he does not avail of the input tax credit within the specified period and thus remains in the integrated tax account after expiry of the date for furnishing of annul returns for such year in which the supply was made; in respect of import of goods or services or both by an unregistered person or by a registered person paying tax under Section 10 of CGST Act; in respect of import of goods or services or both where the registered person is not eligible for input tax credit; in respect of import of goods or services or both made in a financial year by a registered person, where he does not avail of the said credit within the specified period and thus remains in the integrated tax account after expiry of the due date for furnishing of annual return for such year in which the supply was received the amount of tax

= = = = = = = =

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

= = = = = = = =

entral Government in proportion to the amount collected as State tax or, as the case may be, Union territory tax, by the respective State or, as the case may be, by the Central Government during the immediately preceding financial year. Apportionment of interest, penalty and compounding Section 17(3) of the Bill provides that the provisions of Section 17(1) and 17(2) relating to appointment of integrated tax shall, mutatis mutandis apply to the apportionment of interest, penalty and compounding amount realized in connection with the tax so apportioned. Transfer of apportioned amount Section 17(4) provides that where an amount has been apportioned to the Central Government or a State Government, the amount collected as integrated tax shall stand reduced by an amount equal to the amount so apportioned and the Central Government shall transfer to the central tax account or Union territory tax account, an amount equal to the respective amounts apportioned to the Central Government and shal

= = = = = = = =

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

= = = = = = = =

FREQUENTLY ASKED QUESTIONS (FAQs) ON GOODS AND SERVICES TAX (GST) – 2nd Edition. 31st March, 2017 – News and Press Release – Dated:- 3-4-2017 – FREQUENTLY ASKED QUESTIONS (FAQs) ON GOODS AND SERVICES

= = = = = = = =

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

= = = = = = = =

GST – REGISTRATION – Draft Rules 31-3-2017 – Goods and Services Tax – GST – Dated:- 2-4-2017 – GST – REGISTRATION – Draft Rules 31-3-2017 – News – Press release

= = = = = = = =

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

= = = = = = = =

GST – REFUND – Draft Rules 31-3-3017 – Goods and Services Tax – GST – Dated:- 2-4-2017 – GST – REFUND – Draft Rules 31-3-3017 – News – Press release

= = = = = = = =

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

= = = = = = = =

GST – PAYMENT OF TAX – Draft Rules 31-3-2017 – Goods and Services Tax – GST – Dated:- 2-4-2017 – GST – PAYMENT OF TAX – Draft Rules 31-3-2017 – News – Press release

= = = = = = = =

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

= = = = = = = =

GST – TAX INVOICE, CREDIT AND DEBIT NOTES – Draft Rules 31-3-2017 – Goods and Services Tax – GST – Dated:- 2-4-2017 – GST – TAX INVOICE, CREDIT AND DEBIT NOTES – Draft Rules 31-3-2017 – News – Press release

= = = = = = = =

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

= = = = = = = =

GST – Input Tax Credit – Draft Rules 31-3-2017 – Goods and Services Tax – GST – Dated:- 2-4-2017 – GST – Input Tax Credit – Draft Rules 31-3-2017 – News – Press release

= = = = = = = =

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

= = = = = = = =

GST – TRANSITIONAL PROVISIONS – Draft Rules 31-3-2017 – Goods and Services Tax – GST – Dated:- 2-4-2017 – GST – TRANSITIONAL PROVISIONS – Draft Rules 31-3-2017 – News – Press release

= = = = = = = =

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

= = = = = = = =

GST – Determination of Value of Supply – Draft Rules 31-3-2017 – Goods and Services Tax – GST – Dated:- 2-4-2017 – GST -Determination of Value of Supply – Draft Rules 31-3-2017 – News – Press release

= = = = = = = =

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

= = = = = = = =

GST – COMPOSITION RULES – Draft Rules 31-3-2017 – Goods and Services Tax – GST – Dated:- 2-4-2017 – GST – Composition Rules – Draft Rules 31-3-2017 – News – Press release

= = = = = = = =

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

= = = = = = = =

Goods and Services Tax – GST – By: – esha agrawal – Dated:- 1-4-2017 – The Union Cabinet has cleared four bills related to the Goods and Services Tax (GST), ahead of their introduction in Parliament, to enable roll out of the tax reform from July 1. Approval of the bills by Parliament and a separate one by all state Assemblies will complete the legislative process for roll out of the GST, the one-nation-one-tax system that merges central taxes like excise duty and service tax and state levies like VAT. What is GST bill? Goods and Services Tax bill is India s biggest reform in India s indirect tax structure. The purpose of the bill is to introduce one single tax on supply of goods and services, from the manufacturing stage until its deliver

= = = = = = = =

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

= = = = = = = =

0 percent after the GST Council proposed raising the peak rate in the Bill to 20 percent, from the current 14 percent, to obviate the need for approaching Parliament for any change in rates in future. The change in the peak rate will not alter the 4-slab rate structure of 5, 12, 18 and 28 percent agreed upon last year for the moment, In addition, a cess will be levied on demerit goods like luxury cars, aerated drinks and tobacco products. The CGST Bill sets the tax regime for the levy of GST on intra-state supply of goods or services or both by the central government. IGST Bill deals levy of GST on inter-state supply of goods or services or both by the central government. Similarly, the UTGST Bill provides for levy of GST on intra-UT supply

= = = = = = = =

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

= = = = = = = =

GST COUNCIL S 13TH MEETING: AGENDA STILL UNFINISHED – Goods and Services Tax – GST – By: – Dr. Sanjiv Agarwal – Dated:- 1-4-2017 Last Replied Date:- 3-4-2017 – GST Council (GSTC) met for the 13th time yesterday in last 6 months at New Delhi. The GSTC inter alia, decided on following – Approval to draft GST rules (5 out of 9) which were released in September 2016 duly aligned with GST law as approved by Lok Sabha on 29 March, 2017. The rules approved by GSTC are in relation to- Registration of taxpayers Payment of tax Filing of returns Invoicing, debit & credit notes Refunds The tentative approval has been accorded to the remaining four set for rules which relate to: Valuation of supply of goods / services Input tax credit Transition pro

= = = = = = = =

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

= = = = = = = =

finalized on 18-19 May, 2017. The 14th meeting of the GST Council has been scheduled for 18-19 May, 2017 (after a gap of 48 days from now) at Srinagar (J&K) which has been kept out of CGST of regime as per the law passed for technical / legal reasons. The main agenda for the next GSTC meeting would be to: Grant final approval to tentatively approved four set of rules, and Approval of rate structure in relation to individual items of goods and services While it is expected that group of officers, both from the centre and states will now work as fitment of goods and services into the four GST rate slabs, there are few questions that remain to be answered : Why this long gap of 48 days before next meeting ? Fitment of rates is crucial to

= = = = = = = =

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

= = = = = = = =

Goods and Services Tax – Central Excise – Post GST amendments – TMI Updates – Highlights

= = = = = = = =

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

= = = = = = = =

Annexure – Draft-Bills-Reports – Annexure – TAXATION LAWS (AMENDMENT) BILL, 2017 – Annexure – EXTRACT FROM THE FINANCE ACT, 2005 (18 OF 2005) * * * * * THE SEVENTH SCHEDULE (See section 85) NOTES 1. In this Schedule, "heading", "sub-heading", "tariff item" and "Chapter" mean respectively a heading, sub-heading, tariff item and Chapter in the First Schedule to the Central Excise Tariff Act. 2. The rules for the interpretation of the First Schedule to the Central Excise Tariff Act, the Section and Chapter Notes and the General Explanatory Notes of the First Schedule shall apply to the interpretation of this Schedule. Tariff item Description of goods Unit Rate of duty (1) (2) (3) (4) 2106 90 20 Pan mas

= = = = = = = =

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

= = = = = = = =

co kg. 10% 2401 20 40 Burley tobacco kg. 10% 2401 20 50 Tobacco for manufacture of biris, not stemmed kg. 10% 2401 20 60 Tobacco for manufacture of chewing tobacco kg. 10% 2401 20 70 Tobacco for manufacture of cigar and cheroot kg. 10% 2401 20 80 Tobacco for manufacture of hookah tobacco kg. 10% 2401 20 90 Other kg. 10% 2401 30 00 – Tobacco refuse kg. 10% 2402 CIGARS, CHEROOTS, CIGARILLOS AND CIGARETTES, OF TABACCO OR OF TABACCO SUBSTITUTES 2402 10 – Cigars, cheroots and cigarillos, containing tobacco: 2402 10 10 Cigars and cheroots Tu 10% 2402 10 20 Cigarillos Tu 10% 2402 20 – Cigarettes containing tobacco: 2402 20 10 Other than filter cigarettes, of length not exceeding 60 millimetres Tu ₹ 15 per thousand 2402 20 20 Other

= = = = = = = =

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

= = = = = = = =

75 millimetres but not exceeding 85 millimetres Tu Rs.145 per thousand 2402 20 90 Other Tu ₹ 180 per thousand 2402 90 – Other: 2403 OTHER MANUFACTURED TOBACCO AND MANUFACTURED TOBACCO SUBSTITUTES; HOMOGENISED OR RECONSTITUTED TOBACCO, TOCACCO EXTRACTS AND ESSENCES 2403 10 – Smoking tobacco, whether or not containing tobacco substitutes in any proportion: 2403 10 10 Hookah or gudaku tobacco bearing a brand name kg. 10% 2403 10 20 Smooking mixtures for pipies and cigarettes kg. 10% 2403 10 90 Other kg. 10% – Other 2403 91 00 "Homogenised" or "reconstituted" tobacco kg. 10% 2403 99 – Other: 2403 99 10 Chewing tobacco kg. 10% 2403 99 20 Preparations containing chewing tobacco kg. 10% 2403 99 30 Jarda scented t

= = = = = = = =

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

= = = = = = = =

Annexure – Draft-Bills-Reports – Annexure – TAXATION LAWS (AMENDMENT) BILL, 2017 – Annexure – EXTRACT FROM THE FINANCE ACT, 2001 (14 OF 2001) * * * * * THE SEVENTH SCHEDULE (See section 136) NOTES 1. In this Schedule, "heading", "sub-heading" and "Chapter" mean respectively a heading, sub-heading and Chapter in the First Schedule to the Central Excise Tariff Act. 2. The rules for the interpretation of the First Schedule to the Central Excise Tariff Act, the Section and Chapter Notes and the General Explanatory Notes of the First Schedule shall apply to the interpretation of this Schedule. Heading Sub-heading No. No. Description of Goods Rate of duty (1) (2) (3) (4) 21.06 2106.00 Pan masala 23% 24.03 2403.11 –

= = = = = = = =

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

= = = = = = = =

r, the length of filter being 11 millimetres or its actual length, whichever is more) exceeding 75 millimetres but not exceeding 85 millimetres ₹ 190 per thousand 2403.19 – Other ₹ 235 per thousand 2403.20 – Cigarettes of tobacco substitutes ₹ 150 per thousand 24.04 2404.10 – Smoking mixtures for pipes and cigarettes 45% 2404.31 – Other than paper rolled biris, manufactured without the aid of machines Re. 1.00 per thousand 2404.39 – Other ₹ 2.00 per thousand 2404.41 – Chewing tobacco and preparations containing chewing tobacco 10% 2404.49 – Pan masala containing tobacco 10% 2404.50 – Snuff of tobacco and preparations containing snuff of tobacco in any proportion 10% 2404.99 – Other 10% – Statutory Provisions, Acts, R

= = = = = = = =

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

= = = = = = = =

Annexure – Draft-Bills-Reports – Annexure – TAXATION LAWS (AMENDMENT) BILL, 2017 – Annexure – THE FIRST SCHEDULE THE SECOND SCHEDULE [See section 8] Tobacco THE THIRD SCHEDULE [See section 2( f ) (iii)] NOTES 1. In this Schedule, "heading", "sub-heading" and "tariff item" mean respectively a heading, sub-heading and tariff item in the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986). 2. The rules for the interpretation of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), the Section and Chapter Notes and the General Explanatory Notes of the said First Schedule shall, apply to the interpretation of this Schedule. S. No. Heading, sub-heading or tariff item Description of goods (1) (2) (3) 1. 0402 91 10 or 0402 99 20 Concentrated (condensed) milk, whether sweetened or not put up in unit containers and ordinarily intended for sale 2. 1702 Preparation of other sugar 3. 1702 Sugar syrups not containing added flavouring or c

= = = = = = = =

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

= = = = = = = =

entrates or with a basis of coffee 15.A 2101 20 Extracts, essences and concentrates, of tea or mate, and preparations with a basis of these extracts, essences or conventrates or with a basis of tea or mate 16. 2102 All goods 17. 2105 00 00 Ice cream and other edible ice, whether or not containings cocoa 18. 2106 90 20 Pan masala, only in retail packs containing ten grams or more per pack, other than the goods containing not more than 15% betel nut by weight and not containing tobacco in any proportion 19. 2106 90 30 Betel nut powder known as "Supari" 20. 2106 90 11 Sharbat 21. 2106 10 00, 2106 90 19, 2106 90 40, 2106 90 50, 2106 90 60, 2106 90 70 2106 90 80, 2106 90 91, 2106 90 99 Edible preparations (excluding "Prasad or prasadam"), not elsewhere specified or included, bearing a brand name 22. 2201 Waters, including natural or artificial mineral waters (excluding Aerated waters), bearing a brand name 23. 2201 10 20 Aerated waters 23A. 2202 All goods 24. 2202 10 10

= = = = = = = =

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

= = = = = = = =

his heading, "Patent or proprietary medicaments" means any drug or medicinal preparation, in whatever from, for use in the internal or external treatment of, or for the prevention of ailments in human beings or animals, which bears either on itself or on its container or both, a name which is not specified in a monograph, in a Pharmacopoeia, Formulary or other publications, namely:- (a) the Indian Pharmacopoeia; (b) the International Pharmacopoeia; (c) the National Formulary of India; (d) the British Pharmacopoeia; (e) the British Pharmaceutical Codex; (f) the British Veterinary Codex; (g) the United States Pharmacopoeia; (h) the National Formulary of the U.S.A.; (i) the Dental Formulary of the U.S.A.; and (j) the State Pharmacopoeia of the U.S.S.R.; or which is a brand name, that is, a name or a registered trade mark under the Trade Marks Act, 1999 (47 of 1999), or any other mark such as a symbol, monogram, label, signature or invented words or any writing which is used in r

= = = = = = = =

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

= = = = = = = =

ther registered or not, that is to say, a name or a mark, such as a symbol, monogram, label, signature or invented words or any writing which is used in relation to a medicament, for the purpose of indicating, or so as to indicate, a connection in the course of trade between the medicament and some person using such name or mark with or without any indication of the identity of that person. 32. 3204 20 or 3204 90 00 Synthetic organic products of a kind used as florescent brightening agents or as a luminophores 33. 3206 All goods other than pigments and inorganic products of a kind used as luminophores 34. 3208 or 3209 or 3210 All goods 35. 3212 90 Dyes and other colouring matter put up in forms or small packing of a kind used for domestic or laboratory purposes 36 (i) 3213 (ii) 3214 All goods All goods excluding primers (heading 3208), varnishes (heading 3209) 36A. 3215 90 10 Fountain pen ink 36B. 3215 90 20 Ball pen ink 36C. 3215 90 40 Drawing ink 37. (i) 3303 Perfumes and toilet wate

= = = = = = = =

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

= = = = = = = =

icides, herbicides, weedicides and pesticides 47. 3808 Disinfectants and similar products 47A. 3808 93 40 Plant growth regulators 48. 3814 00 10 Thinners 49. 3819 Hydraulic brake fluids and other propared liquids for hydraulic transmission, not containing or containing less than 70% by weight of petroleum oils obtained from bituminous minerals 50. 3820 20 00 Anti-freezing preparations and prepared de-icing fluids 51. 3824 or 3825 Stencil correctors and other correcting fluids, ink removers put up in packing for retail sale 52. 3919 Self-adhesive tapes of plastics 53. 3923 or 3924 Insulated ware 53A. 39 or 40 Nipples for feeding bottles 53B. 4015 Surgical rubber gloves or medical examination rubber gloves 54. 4816 Carbon paper, self-copy paper, duplicator stencils, of paper 55. 4818 Cleansing or facial tissues, handkerchiefs and towels of paper pulp, paper, cellulose wadding or webs of cellulose fibres 56. 6401 to 6405 Footwear 57. 6506 10 Safety headgear 58. 6907 Vitrified tiles, wheth

= = = = = = = =

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

= = = = = = = =

3 39 70 Facsimile machines 71C. 8443 99 51 Ink cartridges, with print head assembly 72. 8450 Household or laundry type washing machines, including machines which both was and dry 73. 8469 Typewriters 74. 8470 Calculating machines and pocket-size data recording, reproducing and displaying machines with calculating functions 74A. 8471 30 All goods 74B. 8471 60 All goods 75. 8472 Stapling machines (staplers) 76. 8506 All goods other than parts falling under tariff item 8506 90 00 76A. 8508 All goods other than parts falling under tariff item 8508 70 00 77. 8509 All goods other than parts falling under tariff item 8509 90 00 78. 8510 All goods other than parts falling under tariff item 8510 90 00 79. 8513 All goods other than parts falling under tariff item 8513 90 00 80. 8516 Electric instantaneous or storage water heaters and immersion heaters, electric space heating apparatus and soil heating apparatus, electro-thermic hair-dressing apparatus (for example, hair dryers, hair curlers, cur

= = = = = = = =

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

= = = = = = = =

ch is intended for sale or capable of being sold off the shalf. 85 to 88. * * * 89. 8517 or 8525 60 Mobile handsets including Cellular Phones and Radio trunking terminals 89A. 8527 Pagers 90. 8527 Radio sets including transistor sets, having the facility of receiving radio signals and converting the same into audio output with no other additional facility like sound recording or reporducing or clock in the same housing or attached to it. 91. 8527 Reception appartus for radio-broadcasting, whether or not combined, in the same housing with sound recording or reproducing apparatus or a clock 92. 8528 Television receivers (including video monitors and video projectors), whether or not incorporating radio broadcast recivers or sound or video recording or reproducing apparatus. 92A. 8528 Monitors of a kind solely or principally used in an automatic data processing machine 92B. 8528 71 00 Set top boxes for television sets 93. 8536 (except 8536 70 00 All goods 94. Chapter 85 All goods falling

= = = = = = = =

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

= = = = = = = =

Annexure – Draft-Bills-Reports – Annexure – TAXATION LAWS (AMENDMENT) BILL, 2017 – Annexure – CHAPTER II LEVY AND COLLECTION OF DUTY Duties specified in the First Schedule and the Second Schedule to the Central Excise Tariff Act, 1985 to be levied. (1) There shall be levied and collected in such manner as may be prescribed,- (a) a duty of excise to be called the Central Value Added Tax (CENVAT) on all excisable goods (excluding goods produced or manufactured in special economic sones) which are produced or manufactured in India as, and at the rates, set forth in the First Schedule to the Central Excise Tariff Act, 1985. (5 of 1986) (b) a special duty of excise, in addition to the duty of excise specified in clause (a) above, on excisable goods (excluding goods produced or manufactured in special economic zones) specified in the Second Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) which are produced or manufactured in India, as, and at the rates, set forth in the said Sec

= = = = = = = =

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

= = = = = = = =

shall, for the purposes of this proviso, be deemed to be leviable at the highest of those rates. Explanation 2.-In this proviso,- (i) * * * * * * (ii) "hundred per cent export-oriented undertaking" means an undertaking which has been approved as a hundred per cent export-oriented undertaking by the Board appointed in this behalf by the Central Government in exercise of the powers conferred by section 14 of the Industries (Development and Regulation) Act, 1951, (65 of 1951) and the rules made under that Act. (iii) "Special Economic Zone" has the meaning assigned to it in clause (za) of section 2 of the Special Economic Zones Act, 2005. (28 of 2005) (1A) The provisions of sub-section (1) shall apply in respect of all excisable goods other than salt which are produced or manufactured in India by, or on behalf of, Government, as they apply in respect of goods which are not produced or manufactured by Government. (2) The Central Government may, by notification in the Of

= = = = = = = =

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

= = = = = = = =

e duty on the basis of capacity of production in respect of notified goods. (3A) (1) * * * * * Explanation 1.- For the removal of doubts, it is hereby clarified that for the purposes of section 3 of the Customs Tariff Act, 1975, (51 of 1975) the duty of excise leviable on the notified goods shall be deemed to be the duty of excise leviable on such goods under the First Schedule and the Second Schedule to the Central Excise Tariff Act, 1985, (51 of 1975) read with any notification for the time being in force. * * * * * Publication of rules and notifications and laying of rules before Parliament. 38. (1) All rules made and notifications issued under this Act shall be published in the Official Gazette. (2) Every rule made under this Act, every notification issued under [section 3A, section 4A, sub-section (1) of section 5A, section 5B and section 11C and every order made under sub-section (2) of section 5A, other than an order relating to goods of strategic, secret, individual or personal

= = = = = = = =

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

= = = = = = = =

Annexure – Draft-Bills-Reports – Annexure – TAXATION LAWS (AMENDMENT) BILL, 2017 – Annexure – EXTRACTS FROM THE CENTRAL EXCISE ACT, 1944 (1 OF 1944) * * * * Definitions In this Act, unless there is anything repugnant in the subject or context,- (a) * * * * * (d) "excisable goods" means goods specified in the First Schedule and the Second Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) as being subject to a duty of excise and includes salt; Explanation.-For the purposes of this clause, "goods" includes any article, material or substance which is capable of being bought and sold for a consideration and such goods shall be deemed to be marketable. (e) "factory" means any premises, including the precin

= = = = = = = =

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

= = = = = = = =

Annexure – Draft-Bills-Reports – Annexure – TAXATION LAWS (AMENDMENT) BILL, 2017 – Annexure – EXTRACTS FROM THE CUSTOMS TARIFF ACT, 1975 (51 OF 1975) * * * * * Levy of additional duty equal to excise duty, sales tax, local taxes and other charges. 3.(1) * * * * * (2) For the purpose of calculating under sub-sections (1) and (3), the additional duty on any imported article, where such duty is leviable at any percentage of its value, the value of the imported article shall, notwithstanding anything contained in section 14 of the Customs Act, 1962, (52 of 1962) be the aggregate of- (i) * * * * * (ii) any duty of customs chargeable on that article under section 12 of the Customs Act, 1962, (52 of 1962) and any sum chargeable on that article un

= = = = = = = =

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

= = = = = = = =

e shall be deemed to be the retail sale price declared on the imported article less such amount of abatement, if any, from such retail sale price as the Central Government may, by notification in the Official Gazette, allow in respect of such like article under clause (2) of the said Explanation. Explanation.-Where on any any imported article more than one retail sale price is declared, the maximum of such retail rice shall be deemed to be the retail sale price for the purposes of this section.] (6) For the purpose of calculating under sub-section (5), the additional duty on any imported article, the value of the imported article shall, notwithstanding anything contained in sub-section (2) or section 14 of the Customs Act, 1962 (52 of 1962)

= = = = = = = =

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

= = = = = = = =