Goods and Services Tax

Goods and Services Tax – GST – Dated:- 22-6-2017 – New Delhi, Jun 22 (PTI) GST Network, the company providing IT backbone for the GST, will launch two call centres on Sunday to handle queries from taxpayers and tax officials. The Goods and Services Tax will be rolled out from July 1, and GSTN will have a major role to play as it will have to handle the huge traffic of invoices and turnover details of companies. GSTN has partnered with IT giants Infosys and Tech Mahindra for launching the call centres. For any enrolment queries, tax payers may call on the call centre number 0120-4888999. The call centre for taxpayers will be manned by over 200 trained professionals, and will be increased to 400 going forward. With many taxpayers requiring h

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Goods and Services Tax – Started By: – venkat eswaran – Dated:- 22-6-2017 Last Replied Date:- 23-6-2017 – Dear Experts,We are going to sale our company car. Now GST for that is 28% + Cess 15% => Total 43% is comingWhen we bought the car we paid VAT 14.5% ( Excise duty already included and not shown dealer invoice) only but when we sell it now 43% GST is coming which is very high.Whether we can adjust Excise credit already suffered earlier from that in the current rate 43%Kindly share your vi

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Goods and Services Tax – GST – Dated:- 22-6-2017 – The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has passed a resolution expressing gratitude to Chief Ministers of States and others for their cooperation in introduction of GST. GST is the biggest tax reform in independent India. It is one of the most sweeping indirect tax reforms in any federal polity in the world, in which complexities such as multiplicity of taxes and cesses, multiplicity of rates, multiple compliances, and cascading of taxation will be removed. This game-changing reform will result in significant ease of doing business as well as reduction in the overall tax burden on the consumers and the common people. GST is a shining example of national integrat

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Goods and Services Tax – Started By: – venkat eswaran – Dated:- 22-6-2017 Last Replied Date:- 2-7-2017 – Dear All,We are service receiver of Transport of goods by road (GTA) and Manpower supply service and paying ser tax on behalf of provider.Now in GST how we can pay this? Is separate challan is available since we mfg industry paying GST also.What is rate of tax for GTA and Manpower supply service?We used to avail 70% rebate on bill value for GTA whether this will continue and we have to pay full GST?Kindly share your views on thisThanks in advanceVenkat – Reply By KASTURI SETHI – The Reply = GTA 5% No credit. Manpower 18% with full ITC. – Reply By Rajagopalan Ranganathan – The Reply = Sir,GST on GTA is payable under reverse charge mechan

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ks for your valuable inputs. We are manufacturer and till date we taking GTA ser tax credit adjust it against Excise payable . So this is not possible in GST is it? Even if GTA paid by transporter itself [ service provider] we cannot take credit? So under GST Manpower supply ser tax we need not to pay as a service receiver?Actually one of our labour contractor not registered in ser tax so far since he is not going to pay ser tax. So In GST he has register compulsorily is it? What will happen in receive Service or Matl from the unregistered dealer? Anything problem for us?kindly share your viewsThanks in advanceVenkat – Reply By rajanish vikas – The Reply = if supply of taxable goods/ Services by a unregistered person , then recipient of ser

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Section 149 – Telangana SGST – MISCELLANEOUS – Telangana Goods and Services Tax Act, 2017 – Section 149 – Goods and services tax compliance rating. 149. (1) Every registered person may be assigned a goods and services tax compliance rating score by the Government based on his record of compliance with the provisions of this Act. (2) The goods and services tax compliance rating score may be determined on the basis of such parameters as may be prescribed. (3) The goods and services tax compliance

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Goods and Services Tax – Started By: – Narendra Soni – Dated:- 22-6-2017 Last Replied Date:- 23-6-2017 – Dear Experts,We had supplied FG to customer and charged freight ₹ 15000/-from customer in invoice accordignly we paid GST on total invoice amount.Now Transporter (GTA) is came for payment of freight with LR.We paid the freight to transporter and deposit GST in reverse charge and avail ITC.This would double taxation on freight, i. at the time of supply and at the time of payment to GTA.

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Goods and Services Tax – GST – By: – Sanjeev Singhal – Dated:- 22-6-2017 – There are number of returns prescribed under GST law. Different returns are prescribed with due date of filing . Returns provisions are provided in Chapter -IX from Section 37 to 48 of the CGST Act,2017. Types of Returns S.N. Form No. Title of the Form 1 GSTR -1 Detail of outward supply of goods or services 2 GSTR-1A Details of auto drafted supplies of goods or services 3 GSTR-2 Detail of inward supply of goods or services 4 GSTR-2A Detail of supply auto drafted from GSTR-1 and GSTR-5 to recipient 5 GSTR-3 Monthly return 6 GSTR-3A Notice to return defaulter u/s 46 7 GSTR- 4 Quarterly return for composite dealer 8 GSTR-4A Auto drafted detail for composite dealer 9 GSTR-5 Return of non resident taxable person 10 GSTR-5A Details of supplies of online information and database access or retrieval services by person located outside India to non taxable person in India. 11 GSTR-6 Return for input service distributors

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revised invoices issued during tax period. Every RP who has been communicated the details under section 38[3] and Section 38[4] by recipient of supplies , can either accept or reject the detail so communicated on or before 17th of the next month following the tax period. The detail furnished by him under point no. 1 shall stand amended. Every RP who has furnished the detail under point no.1 and remain unmatched u/s 42 and 43 shall rectify the error and omission and shall pay tax and interest on short payment of tax, if any. No rectification for point no. 1 shall be allowed after furnishing the return u/s 39 for the month of September following the end of financial year or furnishing the annual return which ever is earlier. Example ; Abc ltd has filed Annual Return of FY 2017-18 on 15th September,2018 and filed the return of September,2018 on 17.10.2018. If any mistake is found in GSTR -1 of September,2017. In this case the same can be rectified only till 15.09.2018. Due Dates GSTR -1 1

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P can rectify, modify, add or delete the detail of outward supply furnished under point 1 of Section 37 . Input service distributor Non resident taxable person Taxable person u/s 10 [ Composition Scheme ] Person who is deducting at source Person collecting tax at source Return shall be filed in GSTR -2 after the end of 10th day but before 15th day of the following month from the end of tax period. Rule ; Part-A of GSTR-2A shall be available to recipient after the filing of GSTR-1 by supplier so that recipient can verify , validate, amend, delete and add. After the validation of GSTR-2A , the return of GSTR-2 shall be filed. After the filing of GSTR-2 shall be made available to supplier in the Form of GSTR-1A for verification. Every RP who has furnished the detail under GSTR-1 and GSTR-2. Transaction remain unmatched u/s 37 and 38 shall rectify the error and omission and shall pay interest on short payment of tax or excess credit, if any. No rectification for point no. 1 shall be allowe

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the month. Every non resident taxable person shall furnish GSTR-5 with in 20th day from the end of the calendar month or within 7 days after the last day of validity period of registration which ever is earlier All taxpayer mentioned above shall pay the tax to appropriate Govt. not later than the last day of filing the return. RP falling under point 1& 2 above will file the return even though there is no supply of goods and/ or services. Subject to the provision of Section 37 and 38, if any taxable person after furnishing return under point no. 1 to 5 find any error or omission, he may rectify the omission or error in the return of the month or quarter subject to the payment of interest . But the above error or omission shall not form finding of Audit, Inspection, scrutiny or enforcement . Provided , no rectification shall be allowed after furnishing the return u/s 39 for the month of September following the end of financial year or furnishing the annual return which ever is earlie

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epancy is not rectified by supplier , the same shall be added to outward tax liability of the recipient in the next return. If there is duplication of ITC, same shall be added to outward tax liability of recipient in the month of communication. If the supplier rectify the mistake in due time in his return , the recipient can reduce his outward tax liability. If any amount is added to outward tax liability shall also attract interest u/s 50. Interest shall be computed from the date taking credit to date of adding to outward liability. If there is reduction in outward tax liability and interest is also paid on the same, both shall be refunded to his electronic cash ledger. Matching, reversal and reclaim of reduction in output tax liability[ Section 43] Credit note issued by supplier of goods and/ or services shall be matched . with The corresponding reduction in input tax credit by recipient For duplication of claim for reduction in tax liability Above claim will be matched and accepted

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account audited under Section 35[5] ( whose aggregate turnover in the financial year exceed ₹ 2 Crore shall furnish the annual return GSTR-9C under point no.1 electronically for every financial year along with audited financial statement and reconciliation thereof. Casual Tax person will file the annual return on GSTR-9A. Electronic commerce operator shall file GSTR-9B. Final Return [ Section 45] Every RP who applied for the cancellation of registration shall file return in GSTR-10 within three month from the date of cancellation or cancellation order which ever is later. Late Fees [ Section 47 ] Any person who fails to furnish the detail u/s 37 and 38 or return u/s 39 and 45 by due date shall pay late fees of ₹ 100 per day subject to maximum of ₹ 5000. Any person who fails to furnish the return u/s 44 shall pay late fees of ₹ 100 per day subject to maximum of 0.25% of turnover of state or union territory. Disclaimer : The contents of this article are solely for

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Tenure of Authority – Rule 18 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 18 – 18. Tenure of Authority.- The Authority shall cease to exist after the expiry of two years fro

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Monitoring of the order – Rule 17 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 17 – 17. Monitoring of the order:- The Authority may require any authority of central tax, Stat

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Rule 16 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 16 – 16. Compliance by the registered person:- Any order passed by the Authority under these rules shall be immediately complied with by the registered person failing which action shall be initiated to recover the amount in accordance with the provisions of the Integrated Goods and Services Tax Act or the Central Goods and Services Tax Act or the Union Territory Goods and Services Tax Act or the State Goods and Servi

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Decision to be taken by the majority – Rule 15 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 15 – 15. Decision to be taken by the majority:- If the Members of the Authority di

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Rule 14 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 14 – 14. Order of the Authority:- (1) The Authority shall, within a period of three months from the date of receipt of the report from the Director General of Safeguards determine whether a registered person has passed on the benefit of reduction in rate of tax on the supply of goods or services or the benefit of input tax credit to the recipient by way of commensurate reduction in prices. (2) An opportunity of hearing shall be granted to the interested parties by the Authority where any request is received in writing from such interested parties. (3) Where the Authority determines that a registered person has not passed on the benefit of reduction in rate of ta

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Rule 13 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 13 – 13. Power to summon persons to give evidence and produce documents:- (1) The Director General of Safeguards, or an officer authorized by him in this behalf, shall be deemed to be the proper officer to exercise power to summon any person whose attendance he considers necessary either to give evidence or to produce a document or any other thing under section 70 and shall have power in any inquiry in the same manne

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Cooperation with other agencies or statutory authorities – Rule 12 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 12 – 12. Cooperation with other agencies or statutory authorit

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Rule 11 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 11 – 11. Confidentiality of information:- (1) Notwithstanding anything contained in sub-rules (3) and (5) of rule 10 and sub-rule (2) of rule 14, the provisions of section 11 of the Right to Information Act, 2005 shall apply mutatis mutandis to the disclosure of any information which is provided on a confidential basis. (2) The Director General of Safeguards may require the parties providing information on confidenti

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Rule 10 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 10 – 10. Initiation and conduct of proceedings:- (1) Where the Standing Committee is satisfied that there is a prima-facie evidence to show that the supplier has not passed on the benefit of reduction in rate of tax on the supply of goods or services or the benefit of input tax credit to the recipient by way of commensurate reduction in prices, it shall refer the matter to Director General of Safeguards for a detailed investigation. (2) The Director General of Safeguards shall conduct investigation and collect evidence necessary to determine whether the benefit of reduction in rate of tax on any supply of goods or services or the benefit of the input tax credit

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Rule 9 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 9 – 9. Examination of application by the Standing Committee and Screening Committee.- (1) The Standing Committee shall, within a period of two months from the date of receipt of a written application, in such form and manner as may be specified by it, from an interested party or from a Commissioner or any other person, examine the accuracy and adequacy of the evidence provided in the application to determine whether t

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Rule 8 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 8 – 8. Duties of the Authority- It shall be the duty of the Authority:- (1) to determine whether any reduction in rate of tax on any supply of goods or services or the benefit of the input tax credit has been passed on to the recipient by way of commensurate reduction in prices; (2) to identify the registered person who has not passed on the benefit of reduction in rate of tax on supply of goods or services or the ben

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Rule 7 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 7 – 7. Power to determine the methodology and procedure:- The Authority may determine the methodology and procedure for d

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Secretary to the Authority – Rule 6 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 6 – 6. Secretary to the Authority The Additional Director General of Safeguards under the Boa

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Rule 5 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 5 – 5. Appointment, salary, allowances and other terms and conditions of service of the Chairman and Members of the Authority:- (1) The Chairman and Members of the Authority shall be appointed by the Central Government on the recommendations of a Selection Committee to be constituted for the purpose by the Council (2) The Chairman shall be paid a monthly salary of ₹ 2,25,000 (fixed) and other allowances and benefits as are admissible to a Central Government officer holding posts carrying the same pay. Where a retired officer is selected as a Chairman, he shall be paid a monthly salary of ₹ 2,25,000 reduced by the amount of pension. (3) The Technical M

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Rule 4 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 4 – 4. Constitution of the Standing Committee and Screening Committees.- (1) The Council may constitute a Standing Committee on Anti-profiteering which shall consist of such officers of the State Government and Central Government as may be nominated by it . (2) A State level Screening Committee shall be constituted in each State by the State Governments which shall consist of- (a) one officer of the State Government,

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Rule 3 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 3 – 3. Constitution of the Authority.- The Authority shall consist of- (a) a Chairman who holds or has held a post equivalent in rank to a Secretary to the Government of India; and (i) (b) four Technical Members who are or have been Commissioners of State tax or central tax or have held an equivalent post under the existing law, -to be nominated by the Council. – Statutory Provisions, Acts, Rules, Regulations, Taxatio

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Rule 2 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 2 – 2. Definitions.- In these rules, unless the context otherwise requires,- (a) Act means the Central Goods and Services Tax Act, 2017; (b) Committee means the Standing Committee on Anti-profiteering constituted by the Council in terms of sub-rule (1) of rule 4 of these rules; (c) Screening Committee means the State level Screening Committee constituted in terms of sub-rule (2) of rule 4 of these rules; (d) Authority

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Rule 1 – Final Rules (Draft) – Rules – Anti – profiteering Rules, 2017 – Rule 1 – Anti-profiteering Rules, 2017 In exercise of the powers conferred by section 164 read with section 171 of the Central Goods and Services Tax Act, 2017(12 of 2017) the Central Government hereby makes the following rules, namely :- 1. Short title, extent and commencement.- (1) These rules may be called the Anti-profiteering Rules, 2017. (2) They extend to the whole of India except the State of Jammu and Kashmir. (3)

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