Details of outward supplies as added, corrected or deleted by the recipient – Form GSTR-01A – Draft-Bills-Reports – Draft GST Return Formats – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [Septe
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Details of outward supplies of taxable goods and/or services effected – Form GSTR-01 – Draft-Bills-Reports – Draft GST Return Formats – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 20
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Article 279A – Indian Laws – Acts – FINANCE, PROPERTY, CONTRACTS AND SUITS – Constitution of India – Article 279A – 279A. Goods and Services Tax Council.- (1) The President shall, within sixty days from the date of commencement of the Constitution (One Hundred and First Amendment) Act, 2016, by order, constitute a Council to be called the Goods and Services Tax Council. (2) The Goods and Services Tax Council shall consist of the following members, namely:- (a) the Union Finance Minister…………………… Chairperson; (b) the Union Minister of State in charge of Revenue or Finance…………….. Member; (c) the Minister in charge of Finance or Taxation or any other Minister nominated by each State Government……………….. Memb
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
icle 269A and the principles that govern the place of supply; (d) the threshold limit of turnover below which goods and services may be exempted from goods and services tax; (e) the rates including floor rates with bands of goods and services tax; (f) any special rate or rates for a specified period, to raise additional resources during any natural calamity or disaster; (g) special provision with respect to the States of Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttarakhand; and (h) any other matter relating to the goods and services tax, as the Council may decide. (5) The Goods and Services Tax Council shall recommend the date on which the goods and services ta
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
ths of the weighted votes of the members present and voting, in accordance with the following principles, namely:- (a) the vote of the Central Government shall have a weightage of onethird of the total votes cast, and (b) the votes of all the State Governments taken together shall have a weightage of two-thirds of the total votes cast, in that meeting. (10) No act or proceedings of the Goods and Services Tax Council shall be invalid merely by reason of- (a) any vacancy in, or any defect in, the constitution of the Council; or (b) any defect in the appointment of a person as a member of the Council; or (c) any procedural irregularity of the Council not affecting the merits of the case. (11) The Goods and Services Tax Council shall establish
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Article 269A – Indian Laws – Acts – FINANCE, PROPERTY, CONTRACTS AND SUITS – Constitution of India – Article 269A – 269A. Levy and collection of goods and services tax in course of inter-State trade or commerce.- (1) Goods and services tax on supplies in the course of inter-State trade or commerce shall be levied and collected by the Government of India and such tax shall be apportioned between the Union and the States in the manner as may be provided by Parliament by law on the recommendations of the Goods and Services Tax Council. Explanation.-For the purposes of this clause, supply of goods, or of services, or both in the course of import into the territory of India shall be deemed to be supply of goods, or of services, or both in the c
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Article 246A – Indian Laws – Acts – RELATIONS BETWEEN THE UNION AND THE STATES – Constitution of India – Article 246A – 246A. Special provision with respect to goods and services tax.- (1) Notwithstanding anything contained in articles 246 and 254, Parliament, and, subject to clause (2), the Legislature of every State, have power to make laws with respect to goods and services tax imposed by the Union or by such State. (2) Parliament has exclusive power to make laws with respect to goods and se
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Section 41 – Acts – APPELLATE TRIBUNAL – PROHIBITION OF BENAMI PROPERTY TRANSACTIONS ACT, 1988 – Section 41 – Distribution of business amongst Benches of Appellate Tribunal.
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 14-10-2016 Last Replied Date:- 18-7-2017 – Section 34(1) of the model Goods and Services Tax Act, 2016 ( Act for short) provides that the appropriate Government may prescribe the manner of approval of Tax Return preparers, their eligibility conditions, duties and obligations as may be relevant for their functioning as a Tax Return Preparer. Eligibility Any person may act as a Tax Return Preparer under this Act if he satisfies any of conditions below- He is a citizen of India; He is a person of sound mind; He is not adjudicated as insolvent; He has not been convicted by a competent court for an offence with an imprisonment not less than two years; and He is a retired officer of- the Commercial Tax Department of any State Government; or the Central Board of Excise and Customs; Department of Revenue, Government of India, who, during his service under the Government had worked in a post not lower in rank than that of a Gro
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
as Tax Return Preparer may made an application to the officer authorized in this behalf for enrolment as Tax Return Preparer in Form No. GST TRP – 1. On receipt of such application, the authorized officer shall, after making required inquiries as he considers necessary, either enroll the applicant as a Tax Return Preparer and issue a certificate in Form No. GST TRP – 2 or reject his application if he found that the applicant is not qualified to be enrolled as a Tax Return Preparer. Validity The enrolment as Tax Return Preparer shall be valid until it is cancelled. Disqualification If any Tax Return Preparer is found guilty of misconduct in connection with any proceeding under the Act, the Authorized Officer may, by order, direct that he shall be disqualified. The said order is to be made in Form GST TRP – 4. Before passing order, the Tax Return Preparer shall be given an opportunity of being heard by giving him a show cause notice in Form GST TRP – 4. Appeal Any person, against whom a
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
confirmation shall be sought from the taxable person over email or SMS. The statement furnished by the Tax Return Preparer shall be made available to the taxable person on the Common Portal. Where the taxable person fails to respond to the request for confirmation till the date of furnishing of such statement, it shall be deemed that he has confirmed the statements furnished by the Tax Return Preparer. Section 34(3) of the Act provides that the responsibility for correctness of any particulars furnished in the return and/or other details filed by the Tax Return Preparer shall continue to rest with the registered taxable person on whose behalf such return and details are filed. Activities of Tax Return Preparer A Tax Return Preparer can undertake any or all of the following activities on behalf of a taxable person, if so authorized by the taxable person to- furnish details of outward and inward supplies; furnish monthly, quarterly, annual or final return; make payments for credit into
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
taxable person in Form No. GST TRP – 6. – Reply By Ganeshan Kalyani – The Reply = The responsibility of tax return preparer is NIL. The dealers shall not have much knowledge about the details that are required to show in the return. In such cases if tax return preparer does not advises or just uploads the details as received from dealers then the return would be incomple and the responsibility is upon the assessee. Thus in my view the tax return preparer should in addition to filing rreturn also advise the dealer to provide correct and complete details. – Reply By Pradeep Kumar – The Reply = Dear experts,What would be the fate of present tax practitioners once GST rolls out? Should they take new registration under GST or is there any provision to continue as TRP under GST Law? Please explain – Reply By Saurabh Rairikar – The Reply = @ Ganeshan Kalyani sir, I do believe in genuineness of your concern for the assessed. However, the tax return preparer as the name itself suggests is not
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
here should the TRP should be registered? Is it announced? – Reply By Khagendranath Mahato – The Reply = I think responsibility of TRP is automatically assocoated with his authorisation, otherwise he has to take the risk of getting unauthorised. – Reply By Ganeshan Kalyani – The Reply = Thanks Saurabh Rairikar Ji. One more question, whether the tax return preparer will get paid by the tax authority or from the dealers whose return he/she would be filing. – Reply By kishore chennu – The Reply = Assessee will pay the TRP not the Tax authority. – Reply By Ganeshan Kalyani – The Reply = Then the fees structure may vary depend upon the assessee and trp – Reply By Sonali Sharma – The Reply = Please enlighten abt whether TRP Scehem is operational now. And who are the authorized officers of the GST to receive TRP-1? Thanks. – Reply By KEMPAYYA BELLANKIMATH – The Reply = What would be the fate of present tax practitioners once GST rolls out? Should they take new registration under GST or is the
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Government directs the CBEC officials association demanding full control of Central Government over all assessees under GST to refrain from the protest as proposed – Goods and Services Tax – GST – Dated:- 13-10-2016 News – Press release
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Goods and Services Tax – Started By: – Ganeshan Kalyani – Dated:- 13-10-2016 Last Replied Date:- 13-10-2016 – The threshold limit for registration under GST is ₹ 10 Lacs and ₹ 5 Lacs for North East States. The limit is so low that i assume even a small provisional vendor also would cross it. A consultant or a small service provider or advocate would are also likely to cross the prescribed threshold limit. In view of this limit, my query is what would be the purpose of including the
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Goods and Services Tax – GST – By: – Dr. Sanjiv Agarwal – Dated:- 13-10-2016 Last Replied Date:- 18-10-2016 – The provisions of model GST law prescribes various types of persons for different purposes and taxation. Some of these are being used for first time. Let's discuss these terms in relation to person or taxable persons in section 2 model GST law, viz, Non-resident taxable person (clause 69) Person (Clause 74) Taxable person (Clause 96) Non-resident taxable person [Section 2(69)] 'Non-resident taxable person' means a taxable person who occasionally undertakes transactions involving supply of goods and/or services whether as principal or agent or in any other capacity but who has no fixed place of business in India. Accordingly, non-resident taxable person : is a taxable person. occasionally undertakes transactions involving supply of goods or services. undertakes transactions as a principal or agent or in any other capacity. has no fixed place of business in India. Th
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
m an exception to rule of PAN for registration. Person [Section 2(74)] 'Person' includes- an individual; a Hindu undivided family; a company; a firm; a Limited Liability Partnership; an association of persons or a body of individuals, whether incorporated or not, in India or outside India; any corporation established by or under any Central, State or Provincial Act or a Government company as defined in section 2(45) of the Companies Act, 2013 (18 of 2013); any body corporate incorporated by or under the laws of a country outside India; a co-operative society registered under any law relating to cooperative societies; a local authority; government; society as defined under the Societies Registration Act, 1860 (21 of 1860); trust; and every artificial juridical person, not falling within any of the preceding sub-clauses; The scope of the definition of 'person' given under proposed GST Act becomes wider than the existing definition given in section 65B(37) of Finance Act,
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
porate incorporated by or under the laws of a country outside India; a co-operative society registered under any law relating to cooperative societies; a local authority; government; society as defined under the Societies Registration Act, 1860; trust; and every artificial juridical person, not falling within any of the preceding sub-clauses; In terms of section 11 of Indian Contract Act, 1872, every person is competent to contract who is of the age of majority according to the law to which he is subject, and who is of sound mind, and is not disqualified from contracting by any law to which he is subject. Persons not competent to contract would include minors, persons of unsound mind and persons disqualified by law. Section 10 and 11 make it clear that any agreement made by a minor is void ab initio. Thus, while the definition of person includes individuals, it may not include minors who are not capacitated to contract. However, there is no specific provision in Chapter V of the Financ
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
ship or any public or private body, whether corporate or not, including a state or any of its constituent sub-divisions. [Merchant Shipping Act, 1958] Person includes- (i) an individual, (ii) a Hindu Undivided Family (iii) a company (iv) a firm (v) an association of persons or body of individuals, whether incorporate or not, (vi) a local authority, and (vii) every artificial juridical person, not falling within any of the preceding sub-clauses. [Income Tax Act] Person includes- (i) a firm whether registered or not (ii) a Hindu Undivided Family (iii) a cooperative society (iv) every other association of persons whether registered under the Societies Registration Act, 1860, or not. [Consumer Protection Act, 1986] Person includes- (i) an individual (ii) a Hindu Undivided Family (iii) a company (iv) a firm, (v) an association, of person or a body of individuals, whether incorporated or not, and (vi) every artificial juridical person, not falling within any of the preceding sub-clauses, but
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
ate, 1956 (9) TMI 57 – PUNJAB & HARYANA HIGH COURT (Constitution of India, Art. 14 The word, person means not duly a natural person, but also a jurisdic or artificial person, Rahmat v. Mandir Shri Laxminiaram, AIR 1976 MP 216, 218. [Madhya Pradesh Land Revenue Code 1859]. The expression person as defined in Section 3(42) of the General Clauses Act (10 of 1897) includes a company or association or body of individuals whether incorporated or not, but the expression person cannot be detached from the context and viewed apart from the nature of the writs that are enumerated in the article. In Re v. S. Hariharan, AIR 1960 AP 518, 519. [General Clauses Act, 1897]. The word person has not been defined in the Companies Act. It may be that the word comprises a number of individuals, such as a hindu joint family. The question whether a syndicate of ten persons was really composed of more than twenty persons is a question of fact to be decided on the evidence and not on a mere allegation. AIR
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
ABAD , it was held that a person is a juristic person. To become a person, person includes an association of person or body of individuals, whether incorporated or not. It cannot be said that the units in Special Economic Zones (SEZ) and Domestic Tariff Area (DTA) are separate persons in the eyes of law and can be considered as separate persons. Taxable Person [Section 2(96)] Taxable person has been defined to have a meaning as assigned to it in section 9 of the model law. According to section 9, taxable person means a person who carries on any business at any place in any state or India or and who is registered or required to be registered for the purpose of GST law as per Schedule -III to the Act. Taxable person would therefore, cover both – one who are registered as taxable person under the Act and two, persons who are not so registered but required to be so registered. Thus, even unregistered person would be called a taxable person liable as such under the Act. Following points are
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
vices in relation to statutory functions (pass port, visa, driving license, birth or death certificate; functions under article 243W or 243G of Constitution; health care, education, tax, right to use natural resources, merchant overtime charges, registration under any law; services in relation to diplomatic / consular / emigration / currency / import or export / public order etc. Following persons shall not be considered as taxable persons – person providing services as an employee to his employer in terms of employment or under any legal tie creating employee -employer relationship. person in business of exclusively supplying goods or services not liable to tax person liable to pay tax under reverse charge [section 7(3)] receiving services of value not exceeding a specified limit in a year for personal use (not for use in course of or furtherance of his business). (To be continued ……) = = = = = = = = – Reply By Ganeshan Kalyani – The Reply = The compliance for non reside
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Goods and Services Tax – GST – By: – Dr. Sanjiv Agarwal – Dated:- 12-10-2016 Last Replied Date:- 18-10-2016 – Recommendations to be made by Council As per Article 279A (4), the Council will make recommendations to the Union and the States on important issues related to GST, like the goods and services that may be subjected or exempted from GST, model GST Laws, principles that govern Place of Supply, threshold limits, GST rates including the floor rates with bands, special rates for raising additional resources during natural calamities/disasters, special provisions for certain States, etc. The Goods and Services Tax Council shall make recommendations to the Union and the States on- the taxes, cesses and surcharges levied by the Union, the States and the local bodies which may be subsumed in the goods and services tax; the goods and services that may be subjected to, or exempted from the goods and services tax; model Goods and Services Tax Laws, principles of levy, apportionment of int
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
erred by this article, the Goods and Services Tax Council shall be guided by the need for a harmonised structure of goods and services tax and for the development of a harmonised national market for goods and services. The Goods and Services Tax Council shall establish a mechanism to adjudicate any dispute – between the Government of India and one or more States; or between the Government of India and any State or States on one side and one or more other States on the other side; or between two or more States, arising out of the recommendations of the Council or implementation thereof. Decisions / issues considered at First Meeting of GSTC (22-23 September, 2016) The first meeting of the newly constituted GST Council was held on 22-23 September, 2016 in which following issues were decided / considered: Rules for conduct of business at meetings. Time table of GSTC meetings was set keeping the April 1st, 2017 deadline. Consensus on composition scheme with gross turnover of ₹ 50 lak
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
0 September, 2016 was to consider and approve the draft rules released for GST in relation to registration, payment, return, refund etc. Though the draft rules were put in public domain only on 27th September leaving few hours for public to give feedback, the GSTC approved the said rules in just one sitting. The decisions, inter alia, are supposed to include the following – To continue with area based exemptions and incentives of excise duly available to north east states and hill states but to be provided by way of refund and not by way of exemptions, as presently done. Presently, centre allows such exemption to eleven states. There will be levy of tax on all exempted entities under GST and the Centre or the State, as the case may be, that gets the tax shall have to reimburse such tax collected to the exempted entity. However, it is not clear as to whether such refund shall be automatic through GSTN or entity will have to claim refund. States ought to agree to this. States have to dec
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
-20 October, 2016) The GSTC decided to hold its third meeting on 18-20 October, 2016 wherein following issues may be considered – Calculation of annual incremental tax revenue to decide projection for compensation for likely possible loss of revenue to the states in GST regime. Dual control over assessees Control over Service Tax assessees Rates of GST Exemptions and negative list It is expected that GST Council may finally decide on the above issues in its three days meeting in October, 2016. Treatment of Cesses While the proposed GST regime shall subsume certain taxes – both Central and of States, it is not certain as to what would be the fate of cesses such as Swachh Bharat Cess (SBC) and Krishi Kalyan Cess (KKC). While the Constitutional (101st Amendment Act) 2016 does not deal with treatment of cesses in the GST regime, GST Council is expected to decide the fate of cesses as to whether they will be subsumed in the GST rate itself or continue. According to present talks, there may
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
hority. This will lead to troublesome to the dealers.How the provision is going to work ? Pls. Enlighten us sir. – Reply By Rakesh Chitkara – The Reply = Dual control by State & Central Tax authorities is a ticklish issue. My feeling is that CBEC will NOT be able to assert itself vis-a-vis State tax officials demand on overlapping areas, except large assesses. FinMin is in no mood to indulge or placate CBEC – Reply By Dr. Sanjiv Agarwal – The Reply = Dear Ganeshan ji / Chitkara ji,GST Council is meeting today for 3 days. Hopefully, there will be more clarity in this aspect to move forward. It may also become an issue of deadlock.Thanks & Regards,CA Neha Somani – Reply By Rakesh Chitkara – The Reply = My prediction on who will lose control or gain control of ST assessees below 1.50 crores – Centre or States : Considering that State Tax Official's demonstration at Jantar Mantar largely comprised of BJP ruled states and the same party is at Centre, this tacit support by BJP-go
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Goods and Services Tax – GST – By: – Dr. Sanjiv Agarwal – Dated:- 10-10-2016 Last Replied Date:- 18-10-2016 – The provisions of model GST law prescribes various types of persons for different purposes and taxation. Some of these are being used for first time. Let's discuss these terms in relation to person or taxable persons in section 2 model GST law, viz, Agent (Clause 5) Agriculturist (Clause 8) Casual taxable person (Clause 21) Manufacturer (Clause 66) Agent [Section 2(5)] 'Agent' means a person who carries on the business of supply or receipt of goods and/or services on behalf of another, whether disclosed or not and includes a factor, broker, commission agent, arhatia, del credere agent, intermediary or an auctioneer or any other mercantile agent, by whatever name called, and whether of the same description as hereinbefore mentioned or not. Accordingly, following attributes are essential for anyone to be called an 'agent' – An agent is a person (defined in Cl
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
alled an agency. Thus, all non-individual agents could be termed as agency. For being called as agency, that agency must represent some other concern or person and by virtue of that representation, is called its agency or agency. The agency acts and works on behalf of his or its principal and there must be some other person on where behalf it is acting. Literally, agency means a relationship between two persons, by agreement or otherwise, where one may act on behalf of the other (the principal). [Black s Law Dictionary] A business or establishment of an agent; function of an agent; active operation, action, intervening action. [Oxford Dictionary]. According to the Law of Agency & Partnership by Harold Gill Reuschtein and William A. Gregory (2nd edition 1990), the basic theory of the agency device is to enable a person, through the services of another, to broaden the scope of his activities and receive the product of another s efforts, paying such other for what he does but retainin
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
om the value of taxable service subject to some conditions an specified in valuation rules. GST shall be levied for transactions between a principal and an agent as a deemed supply. Any amount of consideration (e.g. commission, brokerage etc.) will be subject to GST. Agriculturist [Section 2(8)] 'Agriculturist' means a person who cultivates land personally, for the purpose of agriculture. For this purpose, 'agriculture' is defined in clause (7). Accordingly, 'agriculture' with all its grammatical variations and cognate expressions, includes floriculture, horticulture, sericulture, the raising of crops, grass or garden produce and also grazing, but does not include dairy farming, poultry farming, stock breeding, the mere cutting of wood or grass, gathering of fruit, raising of man-made forest or rearing of seedlings or plants. Forest is a forest under Indian Forest Act, 1927. According to the aforesaid definition, following tests should be satisfied by an 'ag
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
one s own account- (a) by one s own labour, or (b) by the labour of one s family, or (c) by servants on wages payable in cash or kind (but not in crop share) or by hired labour under one s personal supervision or the personal supervision of any member of one s family; For this purpose, a widow or a minor or a person who is subject to any physical or mental disability or is a serving member of the armed forces of the Union, shall be deemed to cultivate land personally if it is cultivated by her or his servants or by hired labour. Further, in the case of a Hindu Undivided Family, land shall be deemed to be cultivated personally, if it is cultivated by any member of such family. This expression has been used in the definition of 'agriculturist' and a person will be considered as an 'agriculturist' only when a person cultivates land personally. To cultivate personally would imply carrying on agricultural operations on his own account by employing own labour, family's la
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
nd the rearing of animals to provide food, wool, and other products. According to Wikipedia, agriculture (also called farming or husbandry) is the cultivation of animals, plants, fungi, and other life forms for food, fiber, and other products used to sustain life. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that nurtured the development of civilization. The study of agriculture is known as agricultural science. Agriculture generally speaking refers to human activities, although it is also observed in certain species of ant and termite. Section 65D (c) stipulates that specified services in relation to both, agriculture and agricultural produce are in negative list. Section 9 of model GST law provides that agriculturist shall not be considered as a taxable person and as such is not required to be registered for GST. This may mean that since agriculturist is a non-taxable person, his non ag
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
n 2(75) and taxable territory in section 2(98) of model law. Casual taxable person are required to be registered u/s 19 read with Schedule-III. The exemption from registration based on threshold of aggregate turnover would not apply to casual taxable persons. Thus, even where their turnover is below the minimum threshold, registration would be required. Manufacturer [Section 2(66)] 'Manufacturer' shall have the meaning assigned to it by the Central Excise Act, 1944. Under Central Excise Act, 1944, manufacture has been defined differently u/s 2(f) of the said Act. According to Section 2(f) of the Central Excise Act, 1944, 'Manufacture' includes any process- incidental or ancillary to the completion of a manufactured product; which is specified in relation to any goods in the Section or Chapter notes of the First Schedule to the Central Excise Tariff Act, 1985 as amounting to manufacture; or which, in relation to the goods specified in the Third Schedule, involves packing
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Goods and Services Tax – Started By: – SANDESH SHINDE – Dated:- 10-10-2016 Last Replied Date:- 10-10-2016 – Dear Sir, Request you to please provide clarity as per GST faqs on the below mentioned point. 1)The excise duty is paid on the stock of finished goods lying in the branches. There are many products like pharmaceutical products, paints, cosmetics, etc. which are cleared from the factory on payment of duty to the branches/godown. All these stocks will attract GST after 01/04/2017, any provi
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Goods and Services Tax – GST – By: – Uday Ranalkar – Dated:- 8-10-2016 Last Replied Date:- 30-12-1899 – Understanding the transitional provisions under GST Model Law With the formation of Goods & Services Tax (GST) Council and its immediate first meeting the Central Government has given clear indications about its commitment to implement the proposed GST law from 1st April, 2017. The trade, industry and professionals have geared up to understand the new law, its provisions and its probable impact. Amidst all these discussions the important point which needs to be discussed at length is the transitional provisions from current indirect tax laws regime to GST regime. The understanding of the transitional provisions is utmost essential for a smooth migration to new regime. Chapter XXV of the Model GST Law as published by the Ministry of Finance prescribes the transitional provisions under GST. The provisions are important for existing assesees who are registered under various indirec
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
law provides for migration of existing tax payers to GST. The said section specifically provides for the registration process for the persons having registrations under indirect tax laws. The existing registrants would be granted provisional registration certificates on appointed day. The said provisional certificate would be valid for 6 months from the date of its issue. The Central / State Government have the authority to extend the period of 6 months based on the recommendation of the Council. Every taxpayer will be allotted a state wise PAN-based 15-digit Goods and Services Taxpayer Identification Number (GSTIN). Various digits in GSTIN will denote the following: State Code PAN Entity Code BLANK Check Digit 2 3 4 5 6 7 8 9 10 11 12 13 14 15 The person who holds a provisional certificate of registration would be required to furnish certain information as prescribed within prescribed time period. The GST database will require a complete and correct database of the existing registran
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
registrations for different business verticals situated in same state. The published draft GST Rules for registration brings the further clarity over the procedure. Relevant forms for associated with registration process under GST: Sr.No Form Purpose Remarks 1 GST REG-20 Submission of information and documents as specified by the persons getting the provisional registration under the GST act.(Migrants) Within 6 months from date of issue of provisional registration certificate. 2 GST REG-21 Issue of provisional registration certificate and GSTIN to persons registered under existing laws.(Migrants) Persons registered and having PAN. 3 GST REG-22 Cancellation of provisional registration by order If information furnished is not correct and complete. ****** 4 GST REG-23 Show Cause Notice before cancelling provisional registration. ****** 5 GST REG-24 Application for cancellation of provisional registration if person registered under earlier laws but not liable to be registered under this A
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
r books of account would be immaterial. Consider following illustration: On the assumption that the GST would be applicable w.e.f 1stApril, 2017,the amount of CENVAT credit carried forward would be the figures of closing balance of CENVAT credit reflected in the return for the period ending on 31st March, 2017. The hypothetical figures are given in the table below. The eligibility of the credit under GST regime is discussed in column (4) & (5) of below table. Sr.No (1) Various input credit (2) Amount (In Rs.) (3) Credit eligible under GST for supplier of goods? (4) Credit eligible under GST for supplier of service ? (5) 1. Central Excise 3,00,000 Yes-CGST Yes- CGST 2. Credit under VAT 2,00,000 Yes- SGST No 3. Service Tax 1,00,000 Yes- CGST Yes- CGST 4. Krishi Kalyan Cess 5,000 No Yes- CGST 5. Swacch Bharat Cess 5,000 No No 6. Additional Duty u/s 3(1) of CTA 80,000 Yes- CGST Yes- CGST 7. Additional Duty u/s 3(5) of CTA 70,000 Yes- CGST Yes- CGST Therefore, credit eligible under GST
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
tion 144 of the Model GST Law provides for the unavailed CENVAT Credit on capital goods not carried forward in a return, to be allowed in certain circumstances. In current scenario, as per sub-rule (2) (a) of Rule 4 of the CENVAT Credit Rules, 2004, the only fifty percent of the credit of the duties paid is taken in a financial year. Remaining fifty percent can be taken in subsequent financial year. In case of VAT there are different scenarios like 6 or 12 equated monthly installments, or likewise. Now the said section 144 enables the assesee to carry forward the unavailed (pending) CENVAT credit on capital goods. The credit carried forward would be available as a balance in the electronic credit ledger of the registrant. The term unavailed CENVAT credit has been defined in an explanation given in sub-section (1) of section 144 of the Model GST Law which is quoted below: It means the amount that remains after subtracting the amount of CENVAT credit already availed in respect of capital
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
d in stock: Section 145 of the Model GST Law provides for the credit of eligible duties and taxes in respect of inputs held in stock to be allowed in certain situations. There might be a situation where a person is not liable to be registered under the existing law or who is engaged in the manufacture of exempted goods under the existing law but now liable to tax under the GST regime. In such scenario the said section enables the person, now liable to register, entitled to take credit of eligible duties and taxes in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the appointed day. The classic cases would be where the assesees are availing a Small Scale Industries (SSI) exemption on account of value of turnover. Current Central Excise law (Notification 08/2003- CE dated 1st March, 2003) provides for an SSI exemption from Central Excise duty for first clearance of goods upto Rupees One hundred & Fifty Lacs. Now in the event of
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
nder the GST law; and The taxable person should be in possession of the relevant documents which should not be older than 12 months from the date of introduction. 1. JOBWORK Section 150 of the Model GST Law provides for the inputs removed for job work and returned on or after the appointed day. The said section 150 seeks to provide clarity over the taxability of the inputs removed as such or removed, from factory, after being partially processed sent to a job worker for further processing, testing, repair, reconditioning before the appointed day and received in the factory after the appointed day. In such cases, the model GST law proposes to exempt such inputs if received back in the said factory within 6 months from appointed day. The exemption comes with a condition that the manufacturer and the job worker has to declare the details of the inputs held in stock by the job worker on behalf of the manufacturer on the appointed day in such form and manner and within such time as may be p
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
odel GST Law provides for the issue of supplementary invoices, debit or credit notes where price is revised in pursuance of a contract. The model GST law envisages a situation of price revision, either upward or downward, for a supply under a contract. In such cases the provision has been made to issue a supplementary invoice, debit note or credit note as the case may be. Increase in agreed price: If, in pursuance of a contract entered into prior to the appointed day, there is an increase in agreed price after the appointed day then the taxable person (supplier of the goods/service) n shall issue a supplementary invoice or a debit note within 30 days from the date of such increase. The supply would be deemed to be taken place in the month in which the supplementary invoice / debit note is issued. Decrease in agreed price: If, in pursuance of a contract entered into prior to the appointed day, there is decrease in agreed price after the appointed day then the taxable person shall issue
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
led before the appointed day shall be disposed off in accordance with the provisions of such earlier indirect tax laws under which it was filed. Accordingly, the refund would be paid in cash to the assesee and not by credit to any of his electronic credit ledger under GST law. Attention is invited to the proviso to said section 154 which provides that where any claim for refund is fully or partially rejected, the amount so rejected shall lapse. No provision for appeal is provided for with respect to such refund claims. Hence, assesses need to take utmost care while filling such refund claims. Illustration: Assuming that the GST will be implemented from 1st April, 2017. Then if refund claim of input Service tax amounting to ₹ 10, 00,000/-, was filled under Rule 5 of the Cenvat Credit Rules, 2004 on 25th March, 2017 and not disposed off till 1st April, 2017 then such refund claim would be disposed in accordance with the provision of Rule 5 of the Cenvat Credit Rules, 2004 and Secti
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
become recoverable as an arrear of tax under the GST Act, viz., SGST or CGST, as applicable. Proceedings relating to output duty liability: Section 156 of the Model GST law provides for the Finalization of proceedings relating to output duty liability. The said section 156 provides for appeal or revision or review or reference, relating to any output duty liability, pending as on appointed day under any of the earlier laws. It provides that same would be dealt and disposed in accordance of the provisions earlier indirect tax laws. The provisions of GST would not be applicable in case of such pending appeal or revision or review or reference. Any amount if recoverable as a result of such appeal, revision, review or reference then the same shall be recovered as an arrear of tax under this act as an arrear of tax under the GST Act, viz., SGST or CGST, as applicable. However, the amount recovered shall not be admissible as input tax credit under the GST law. Sub section 2 of the said Secti
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Goods and Services Tax – GST – By: – Dr. Sanjiv Agarwal – Dated:- 8-10-2016 – As per the Constitution as amended, GST Council is required to be Constituted under article 279A of the Constitution which was so done by the President on 12th September, 2016 vide Notification dated 10.09.2016. New Article 279A of the Constitution was notified to come into force w.e.f. 12.09.2016 and vide Notification dated 15.09.2016, the President of India Constituted the GST Council. Clause 279A According to article 279A of the Constitution as made operative w.e.f. 12.09.2016, the President shall, within sixty days from the date of commencement of the Constitution (One Hundred and Twenty-second Amendment) Act, 2014, by order, constitute a Council to be called the Goods and Services Tax Council. Composition of Council The GST Council shall comprise of a Chairperson, Vice Chairperson and members. The President of India has since Constituted the GST Council comprising of the following members- The Union Fin
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
ST Council in the GST Council Secretariat (at the level of Additional Secretary to the Government of India), and four posts of Commissioner in the GST Council Secretariat (at the level of Joint Secretary to the Government of India). The Cabinet has also decided to provide for adequate funds for meeting the recurring and non recurring expenses of the GST Council Secretariat, the entire cost for which shall be borne by the Central Government. The GST Council Secretariat shall be manned by officers taken on deputation from both the Central and State Governments. While discharging the functions conferred by this article, the Goods and Services Tax Council shall be guided by the need for a harmonised structure of goods and services tax and for the development of a harmonised national market for goods and services. The Goods and Services Tax Council shall determine the procedure in the performance of its functions. It is important to note that decisions at the GSTC shall be taken only at the
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
, or (c) any procedural irregularity of the Council not affecting the merits of the case. Fate of Empowerment Committee (EC) The journey of GST in India so far was navigated till the present milestone of Constitution of GST Council on 12.09.2016 by the Empowered Committee of State Finance Ministers. The Empowered Committee has been instrumental in bringing all States on a common page and ensuring consensus on various complex issues on which there were divergent views. The Empowered Committee has been chaired by one of the State Finance Ministers and Empowered Committee has been chaired so far by Finance Ministers which include Finance Ministers of West Bengal, Bihar, J& K and Kerala. The present Chairman, Dr. Amit Mitra also comes from West Bengal. Since GST Council is now an arm of the Constitution, duly constituted to carry out various functions in relation to proposed GST law, the Empowered Committee of State Finance Ministers will not be a forum to discuss or recommend anything
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 7-10-2016 Last Replied Date:- 16-10-2016 – Payment of tax In GST regime the following are the types of payments to be made- Tax to the credit of Central Government if it is intra-state supply (CGST); Tax to the credit of State Government if it is intra State supply (SGST); For inter-state supply tax to be is Integrated GST; Certain categories of registered persons are required to pay TDS and TCS; Interest, penalty, fees and any other payment as required. Who are liable to pay? The following are liable to pay tax- The supplier of goods or service; The recipient under reverse charge mechanism in specified cases like imports and other notified supplies; Third person (in the case of e-commerce operator responsible for TCS or Government Department responsible for TDS). When tax is to be paid? The GST payment is to be done at the time of supply of goods as explained in Section 12 and at the time of supply of services as expl
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
s well as credit ledger. Cash payments will be first deposited in the Cash Ledger and the tax payer shall debit the ledger while making payment in the monthly returns and shall reflect the relevant debit entry number in his return. The payment of taxes for the month of March shall be paid by the 20th of April. In the present regime the service tax as well excise duty is to be paid for the month of March by 31st March itself. Composition tax payers are required to pay the tax on quarterly basis. The timing of payment is from 00.00 hrs to 20.00 hrs. The date of credit to the credit of the Government account is considered as the date of deposit of tax dues. In the present regime, if the payment is paid by cheque, the date of receipt of cheque would be considered as the payment date, provided the cheque is not dishonored. But in GST regime it has been changed. Actual date of credit is the time of deposit of tax. The taxable person has to be careful in this regard. How payment is to be made
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
E-payment through internet banking, credit card, debit card; Real time gross settlement (RTGS); National Electronic Fund Transfer (NFFT); Over the Counter payment in branches of banks authorized to accept deposits. When the payment is made by NEFT or RTGS from any bank the mandate form shall be generated along with the challan. The said form shall be submitted to the bank from where the payment is to be made. Such mandate for shall be valid for 15 days from the date of generation of challan. On successful credit of the amount to the concerned government account a Challan Identification Number will be generated by the collecting bank and the same shall be indicated in the challan. Where the bank account of the concerned taxable person is debited but no Challan Identification Number is generated he may represent in Form GST PMT -6 through the common portal to the bank or electronic gateway through which the deposit was initiated. On receipt of Challan Identification Number from the bank
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
nput tax credit on account of CGST shall be utilized towards payment of SGST and vice versa. The credit of IGST would be permitted to be utilized for payment of IGST, CGST and SGST in that order. Only tax can be paid through credit ledger of the tax payment. Interest, penalty and fees cannot be paid by debit in the credit ledger. Section 35(8) prescribes the method of payment where the taxpayer has tax liability beyond the current period. In such a situation, the order of payment is as follows: Self assessed tax and other duesrelated to returns of previous tax periods; Self assessed tax and other dues related to the return of current tax period; Any other amount payable under the provisions of the Act or the rules made there under including any confirmed demand under Section 51. Extension for payment allowed? In case of self assessed liability no time extension is permitted. Section 55 of the Act provides for the payment by installment procedure. According to this section the Commissio
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
as filed his return, the input tax credit of the recipient would not be confirmed. Pre-registration of credit card The tax payer would be required to pre-register his credit card, from which the tax payment is intended with the common portal maintained on GSTN which may attempt to put in a system with banks in getting the credit card verified by taking a confirmation from the credit card service provider. The payments using credit cards can be allowed without any monetary limit to facilitate ease of doing business. Payment by unregistered person If any payment is required to be made by a person who is not registered under the Act shall be made on the basis of a temporary identification number generated by the proper officer through the common portal. The details of such payment shall be recorded in a register in Form GST PMT-5, to be maintained on the common portal. Identification number for each transaction A Unique Identification Number shall be generated at the common portal for eac
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Rule 6 – Draft-Bills-Reports – Draft GST Refund Rules – DRAFT – GOODS AND SERVICES TAX – REFUND RULES, 20- [September 2016] – Rule 6 – 6. Refund of tax to certain persons (1) Any person eligible to claim refund of tax paid by him on his inward supplies as per a notification issued under clause (d) of sub-section (6) of section 38 shall apply for refund in FORM GST RFD-10 once in every quarter, electronically on the Common Portal either directly or from a Facilitation Centre, notified by the Board or Commissioner along with a statement of inward supplies of goods and/or services in FORM GSTR-11, prepared on the basis of statement of outward supplies furnished by corresponding suppliers in Form GSTR-1. (2) An acknowledgement for receipt of t
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Rule 5 – Draft-Bills-Reports – Draft GST Refund Rules – DRAFT – GOODS AND SERVICES TAX – REFUND RULES, 20- [September 2016] – Rule 5 – 5. Order sanctioning interest on delayed refunds Where any interest is due and payable to the applicant under section 39, the proper officer shall make an order and a payment advice in FORM GST RFD-9, specifying therein the amount of refund which is delayed, the period of delay for which interest is payable and the amount of interest payable, and such amount of
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Rule 4 – Draft-Bills-Reports – Draft GST Refund Rules – DRAFT – GOODS AND SERVICES TAX – REFUND RULES, 20- [September 2016] – Rule 4 – 4. Credit of the amount of rejected refund claim (1) Where any deficiencies have been communicated under sub-rule (8) of rule 1, the amount debited under sub-rule (3) of rule 1 shall be re-credited to the electronic credit ledger. (2) Where any amount claimed as refund is rejected under rule 3, either fully or partly, the amount debited, to the extent of rejecti
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Rule 3 – Draft-Bills-Reports – Draft GST Refund Rules – DRAFT – GOODS AND SERVICES TAX – REFUND RULES, 20- [September 2016] – Rule 3 – 3. Order sanctioning refund (1) Where, upon examination of the application, the proper officer is satisfied that a refund under sub-section (4) of section 38 is due and payable to the applicant, he shall make an order in FORM GST RFD-5, sanctioning the amount of refund to which the applicant is entitled, mentioning therein, the amount, if any, refunded to him on a provisional basis under sub-section (4A) of section 38, amount adjusted against any outstanding demand under the Act or under any earlier law and the balance amount refundable: Provided that in cases where the amount of refund is completely adjust
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
all apply mutatis mutandis to the extent refund is allowed: Provided that no application for refund shall be rejected without giving the applicant a reasonable opportunity of being heard. (3) Where the proper officer is satisfied that the amount refundable under sub-rule (1) or (2) is payable to the applicant under sub-section (6) of section 38, he shall make an order in FORM GST RFD-5 and issue a payment advice in FORM GST RFD-8, for the amount of refund to be electronically credited to any of the bank accounts of the applicant mentioned in his registration particulars and as specified in the application for refund. (4) Where the proper officer is satisfied that the amount refundable under sub-rule (1) or (2) is not payable to the applican
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Rule 2 – Draft-Bills-Reports – Draft GST Refund Rules – DRAFT – GOODS AND SERVICES TAX – REFUND RULES, 20- [September 2016] – Rule 2 – 2. Grant of provisional refund (1) The provisional refund under sub-section (4A) of section 38 shall be granted subject to the following conditions – (a) the person claiming refund has, during any period of five years immediately preceding the tax period to which the claim for refund relates, not been prosecuted for any offence under the Act or under an earlier law where the amount of tax evaded exceeds two hundred and fifty lakh rupees; (b) the GST compliance rating of the applicant is not less than five on a scale of ten; (c) no proceeding of any appeal, review or revision is pending on any of the issues
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Rule 1 – Draft-Bills-Reports – Draft GST Refund Rules – DRAFT – GOODS AND SERVICES TAX – REFUND RULES, 20- [September 2016] – Rule 1 – DRAFT GOODS AND SERVICES TAX – REFUND RULES, 20- Note: Corresponding changes in the Model GST Law are being carried out separately. Comments , if any may kindly be given by 28th September, 2016. Chapter-__: REFUND 1. Refund of tax, interest, penalty, fees or any other amount (1) Any registered taxable person, except the persons covered by notification issued under clause (d) of sub-section (6) of section 38, claiming refund of any tax, interest, penalty, fees or any other amount paid by him, may file an application in FORM GST RFD-1 electronically through the Common Portal either directly or from a Facilitation Centre, notified by the Board or Commissioner: Provided that any claim for refund relating to balance in the electronic cash ledger in terms of sub-section (6) of section 35 may be made through the return for the relevant tax period in FORM GSTR
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
number and date of shipping bills or bills of export and the number and date of relevant export invoices, in a case where the refund is on account of export of goods; (c) a statement containing the number and date of invoices as prescribed in rule Invoice._ in case of supply of goods made to an SEZ unit or a developer; (d) a statement containing the number and date of invoices, in a case where the refund is on account of deemed exports; (e) a statement containing the number and date of invoices and the relevant Bank Realization Certificates or Foreign Inward Remittance Certificates, as the case may be, in a case where the refund is on account of export of services; (f) a statement containing the number and date of invoices and the details of payment, along with proof thereof, made by the claimant to the supplier for authorized operations as defined under the SEZ Act, 2005, in a case where the refund is on account of supply of services made to an SEZ unit or a developer; (g) a statemen
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
ce of tax and interest claimed as refund has not been passed on to any other person, in a case where the amount of refund claimed is five lakh rupees or more: Provided that a certificate is not required to be furnished in respect of cases covered under clause (a), (b) or (d) of sub-section (6) of section 38; Explanation 1.- For the purpose of this rule, invoice means invoice conforming to the provisions contained in section 23A in case of refunds referred to in clause (c) of sub-section (6) of section 38. Explanation 2.- Where the amount of tax has been recovered from the recipient, it shall be deemed that the incidence of tax has been passed on to the ultimate consumer. (3) Where the application relates to refund of input tax credit, the electronic credit ledger shall be debited by the applicant in an amount equal to the refund so claimed. (4) Where any taxable goods or services are exported without payment of tax, under bond or letter of undertaking under section ___ of the IGST Act,
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
services for which the supply of service has not been completed during the relevant period; (E) "Adjusted Total turnover" means the value of turnover in a State, as defined under subsection (104) of section 2, excluding the value of exempt supplies, during the relevant period; (F) Relevant period means the period for which the claim has been filed. Provided that no refund of input tax credit shall be allowed if the supplier of goods and / or services avails of drawback allowed under the applicable Drawback Rules or claims rebate of tax paid under the Act or the IGST Act, 201_ in respect of such tax. (5) The application for refund of any amount, after adjusting the tax payable by the applicant out of the advance tax deposited by him under section 19A at the time of registration, shall be claimed either in the last return required to be filed by him or only after filing of the said last return. (6) Where the application relates to a claim for refund from the electronic cash led
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Rule 5 – Draft-Bills-Reports – Draft GST Invoice Rules – DRAFT – GOODS AND SERVICES TAX – INVOICE RULES, 20- [September 2016] – Rule 5 – 5. Tax Invoice in special cases A tax invoice issued by an Input Service Distributor shall contain the following details:- (a) name, address and GSTIN of the Input Service Distributor; (b) a consecutive serial number containing only alphabets and/or numerals, unique for a financial year; (c) date of its issue; (d) name, address and GSTIN of the supplier of services, the credit in respect of which is being distributed and the serial number and date of invoice issued by such supplier; (e) name, address and GSTIN of the recipient to whom the credit is distributed; (f) amount of the credit distributed; and (g
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
service but containing other information as prescribed under rule 1. (3) Where the supplier of taxable service is a goods transport agency supplying services in relation to transportation of goods by road in a goods carriage, the said supplier shall issue a tax invoice or any other document in lieu thereof, by whatever name called, containing the gross weight of the consignment, name of the consignor and the consignee, registration number of goods carriage in which the goods are transported, details of goods transported, details of place of origin and destination, GSTIN of the person liable for paying tax whether as consignor, consignee or goods transport agency, and also contains other information as prescribed under rule 1. (4) Where the
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Rule 4 – Draft-Bills-Reports – Draft GST Invoice Rules – DRAFT – GOODS AND SERVICES TAX – INVOICE RULES, 20- [September 2016] – Rule 4 – 4. Supplementary tax invoice and Credit or debit notes (1) A supplementary tax invoice under section 23 and a credit or debit note under section 24 shall contain the following details – (a) name, address and GSTIN of the supplier; (b) nature of the document; (c) a consecutive serial number containing only alphabets and/or numerals, unique for a financial year; (d) date of issue of the document; (e) name, address and GSTIN/ Unique ID Number, if registered, of the recipient; (f) name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is unr
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Rule 3 – Draft-Bills-Reports – Draft GST Invoice Rules – DRAFT – GOODS AND SERVICES TAX – INVOICE RULES, 20- [September 2016] – Rule 3 – 3. Bill of supply A bill of supply referred to in the second proviso to section 23 shall be issued by the supplier containing the following details:- (a) name, address and GSTIN of the supplier; (b) a consecutive serial number containing only alphabets and/or numerals, unique for a financial year; (c) date of its issue; (d) name, address and GSTIN/ Unique ID N
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
