What principles were adopted for subsuming the above taxes under GST?

Question 4 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 4 – Q 4. What principles were adopted for subsuming the above taxes under GST? Ans. The various Central, State and Local levies were examined to identify their possibility of being subsumed under GST. While identifying, the following principles were kept in mind: (i) Taxes or levies to be subsumed should be primarily in the nature of indirect taxes, either

= = = = = = = =

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

= = = = = = = =

Which of the existing taxes are proposed to be subsumed under GST?

Question 3 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 3 – Q 3. Which of the existing taxes are proposed to be subsumed under GST? Ans. The GST would replace the following taxes: (i) taxes currently levied and collected by the Centre: a. Central Excise duty b. Duties of Excise (Medicinal and Toilet Preparations) c. Additional Duties of Excise (Goods of Special Importance) d. Additional Duties of Excise (Textil

= = = = = = = =

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

= = = = = = = =

What is Goods and Service Tax (GST)?

Question 1 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 1 – Q 1. What is Goods and Service Tax (GST)? Ans. It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. In a nutshell, only value addition will be taxed and burden of tax is to be borne by

= = = = = = = =

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

= = = = = = = =

Foreword

Foreword Draft-Bills-Reports – FAQ on GST dated 21.9.2016 based on Draft Model GST Foreword With the 101st Constitution Amendment Act coming into force on 8th September, 2016 and notification of the GST Council on 15th September – the road to GST rollout is clear. Government is keen on introducing GST the biggest indirect tax reform, with effect from 01 April 2017. One of the biggest challenges is to train the indirect tax officials of both Centre and State, as well as the trade on the concepts, processes and procedures of GST. National Academy of Customs, Excise & Narcotics (NACEN), the apex training institution for capacity building in indirect taxation under the Central Board of Excise and Customs, has been mandated to impart trai

= = = = = = = =

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

= = = = = = = =

nteractive sessions, as a training tool for helping the officers as well as public, to get acquainted with the Model GST Law and its nuances. The FAQs have been prepared and reviewed by a team of officials from both Centre and States. I congratulate all the officers who worked in the preparation of this booklet, and NACEN for their efforts. I am sure that this FAQ compilation covering 24 topics with over 500 questions, will be an effective tool in disseminating knowledge on GST to Tax officials, Trade and Public. This is the first version based on the Model GST Law which has been released in the public domain. NACEN will bring out updated versions of the FAQ, as and when relevant statutes are enacted and rules are framed. Najib Shah Chairma

= = = = = = = =

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

= = = = = = = =

r. Commissioner, Hyderabad (Chap. 16) ; Shri Shashank Priya, ADG, DG GST, CBEC (Chap. 17 to 20); Shri G.D. Lohani, CCE, Faridabad (Chap. 21 & 22); and Shri Prakash Kumar, CEO, GSTN (Chap.23). Comments and Suggestions on FAQ may please be sent to dg.nacen-cbec@nic.in Disclaimer: This FAQ on GST compiled by NACEN and vetted by the Source Trainers is based on the draft Model GST Law released in public domain in June, 2016. This FAQ is for training and academic purposes only. The information in this booklet is intended only to provide a general overview and is not intended to be treated as legal advice or opinion. For greater details, you are requested to refer to the model GST law. – Statutory Provisions, Acts, Rules, Regulations, Taxation

= = = = = = = =

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

= = = = = = = =

GST- a way forward for logistic industry

Goods and Services Tax – GST – By: – sandeep saini – Dated:- 22-9-2016 Last Replied Date:- 4-11-2016 – Dear professional colleague, GST- a way forward for logistic industry India s globally infamous unending queue, uneasy checkmates at our border check posts, filing of waybills/entry permits, compliances under entry tax laws and local levies, are one of the prime reasons why transport costs hovered high for decades. But once the GST implemented , these challenges will become a thing of past, as GST will subsume most of Central taxes and State levies, eliminating the time wasting checkpoints and make diverse verticals across India more efficient through faster deliveries of goods and services. In other words, India a nation of multiple market today will transform into one common market backed by borderless, barrier-less systems permitting free movement of goods and services and therefore GST will facilitate Make in India by making one India . As per the estimates by the experts, logist

= = = = = = = =

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

= = = = = = = =

mated that eliminating check point delays could keep trucks moving almost 6 hours more per day, which will results in additional movement of 164 kms per day. Due to above bottlenecks, logistics costs are higher than the wage bill or the cost of power and 3-4 times the international benchmark. The removal of bottlenecks becomes more important for India, as the share of roads in freight traffic is about 72 per cent, which is much higher in comparision to other countries and rising over time because of under investment in railways, therefore inter-state trade costs to be reduced significantly, due to excessive reliance on roads for movement of goods. According to world bank estimate about 20-30 per cent of inter-state trade cost is due to taxes. So, after imlementation of GST, these costs are expected to come down, which will boost inter-state trade and hence productivity growth within India. The Impact of GST on Logistic Industry The GST will enables the businesses viz. e-commerce to rej

= = = = = = = =

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

= = = = = = = =

ts feel the contractual business could increase upto 50 per cent, after implementation of GST. The companies and logistic firms will be in a position to use fewer but bigger trucks to transport their consignments, further reducing pollution and curbing traffic congestion.And many companies would prefer to outsource logistic operations, as lower costs make this viable. Steps that logistic service providers need to undertake Develop a stong team to manage sophisticated technology enabled fufilment centre. Indentify focus Industries that need to revisit their supply chain and their immediate needs post GST implementation. Enhance technology capabilities and processes to adhere to new input tax credit system. Reconfigure current fleet size and type, to align to emerging needs. Issues need to be addressed under GST Entry tax is subsumed under GST via deleting the Entry 52 from State list given in Article 246 of constitution of India, but Article 243X/243H are not amended, because of which p

= = = = = = = =

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

= = = = = = = =

that a virtual campaign named Move in India would be implemented besides Make in India . – Reply By Ganeshan Kalyani – The Reply = nice article.i would like to reproduce the extract of Model GST law for discussion,60. Power of inspection, search and seizure(1) Where the CGST/SGST officer, not below the rank of Joint Commissioner, has reasons to believe that -(a) a taxable person has suppressed any transaction relating to supply of goods and/or services or the stock of goods in hand, or has claimed input tax credit in excess of his entitlement under the Act or has indulged in contravention of any of the provisions of this Act or rules made thereunder to evade tax under this Act; or(b) any person engaged in the business of transporting goods or an owner or operator of a warehouse or a godown or any other place is keeping goods which have escaped payment of tax or has kept his accounts or goods in such a manner as is likely to cause evasion of tax payable under this Act,he may authorize

= = = = = = = =

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

= = = = = = = =

No Excise Duty w.e.f. 16.09.2016 – Aye or Nope- (Validating Constitutional backing of Central Excise and Service Tax)

Goods and Services Tax – GST – By: – Ranjan Mehta – Dated:- 22-9-2016 Last Replied Date:- 26-9-2016 – Prelude:- Model GST law is in public domain since June 2016, President has given his assent to 101st Constitution Amendment Act, 2016 giving Central and State Govts power to levy GST on 08th September, 2016. However, till then there was nobody talking about the Excise Duty and its existence. GST has not yet been rolled out. Even the law is under preparation as yet. Then suddenly on 16.09.2016 what happened that everybody seems to be talking about it. Revenue secretary Mr. Hasmukh Adhia is tweeting one after another. So the big question as of now is that what happened which lead to such controversy and why everybody is discussing the very constitutional validity of Excise and Service Tax. The answer lies with the notification dated 16th September, 2016 which notified the 19 sections of the Constitution (One Hundred and First Amendment) Act, 2016. Notification:- Central Govt on 16.09.20

= = = = = = = =

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

= = = = = = = =

of this entry the Central Government was allowed to levy excise on all the goods manufactured or produced in India. Now the new entry substituted by Constitution (One Hundred and First Amendment) Act, 2016 is as follows:- 84. Duties of excise on the following goods manufactured or produced in India, namely:- (a) petroleum crude; (b) high speed diesel; (c) motor spirit (commonly known as petrol); (d) natural gas; (e) aviation turbine fuel; and (f) tobacco and tobacco products. ; This new entry substituted in place of earlier one which entitles Central Govt to levy Excise on these 6 items only. There is no entry in the Central list, which directly enable the Central Govt to levy duty of excise on goods other than the 6 mentioned above. Govt. response to the Controversy Ending days of confusion, the government has clarified that the notification of the provisions of the Constitution amendment Act for the goods and services tax (GST) does not take away the power of the central government t

= = = = = = = =

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

= = = = = = = =

response correct ? Govt response keeping section 19 in the forefront of all the controversy is challengeable. This section 19 talks about laws in force in any state. Not in the whole India. Thus there is a view that this provision does not cover central levies. However the second leg of this section comes to save the Govt view once again, which says that earlier provisions shall continue to be in force until amended or repealed by a competent legislature or other competent authority. Thus this means that the laws amended by this Act shall not be amended so until such laws are repealed or one year elapses since the commencement of this act i.e. w.e.f. 15.09.2017 they shall automatically be repealed if not done so specifically. Further, there is another entry No. 97 to the Union List, which is a residuary entry in that list 97. Any other matter not enumerated in List II or List III including any tax not mentioned in either of those Lists. The Govt can also contemplate to include levy of

= = = = = = = =

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

= = = = = = = =

give central Govt absolute power to levy service tax which read as follows:- 268A 1) Taxes on services shall be levied by the Government of India and such tax shall be collected and appropriated by the Government of India and the States in the manner provided in clause (2). (2) The proceeds in any financial year of any such tax levied in accordance with the provisions of clause (1) shall be- (a) collected by the Government of India and the States; (b) appropriated by the Government of India andthe States, in accordance with such principles of collection and appropriation as may be formulated by Parliament by law. This article 268A is also deleted by sec 7 of Constitution (101st) Amendment Act, 2016. The website of the CBEC also displays the above 2 provisions to establish the constitutional validity of service tax law. From the above discussion we can feel that due to deletion of these 2 provisions Service Tax will also be in peril like in case of Excise. BUT there is a technical glitc

= = = = = = = =

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

= = = = = = = =

Registration under GST Law

Goods and Services Tax – GST – By: – niranjan gupta – Dated:- 22-9-2016 Last Replied Date:- 26-9-2016 – Introduction The general meaning of registration is a method of officially recording something. Usually something is registered to claim more rights, or to protect ownership, or because the law says it must be registered to be used legally. Presently, to do business in India there are a list of registration under Direct & Indirect Taxation law. Indirect taxation majorly covers the Customs, Central Excise, Service Tax, VAT/CST, Professional Tax, Entry Tax, Entertainment Tax, Luxury Tax, Octroi and other local taxes as applicable time to time. VAT, Professional Tax, Entry Tax, Entertainment Tax, Luxury Tax, Octroi and other local taxes are governed by the State Government and Customs, Central Excise, Service Tax and Central Sales Tax are governed by the Central Government. The Central Government and State Government adjoined their hands to bring GST for doing business in a simplif

= = = = = = = =

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

= = = = = = = =

n which he becomes liable to registration. [S.19] In case of a person, other than an Input Service Distributor, is registered under earlier law, it shall not be necessary for him to apply for fresh registration under the S. 19 and he shall follow the procedure as may be prescribed in this behalf. Threshold Limit under GST law Under GST model, it is proposed that every supplier shall be liable to be registered under this Act in the State from where he makes a taxable supply of goods and/or services if his aggregate turnover in a financial year exceeds ₹ 9 lakh. However, this limit is ₹ 4 lakh for the persons conducting business in North East states including Sikkim. It is also proposed in the GST model that in case the aggregate turnover consists of only goods and/or services which are not liable to tax under this Act, that supplier shall not be liable to registration. The following categories of persons shall be required to be registered under this Act, irrespective of the

= = = = = = = =

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

= = = = = = = =

all be treated as the supply of goods by the principal referred to in section 43A, and the value of such goods shall not be included in the aggregate turnover of the registered job worker. Threshold Limit under Central Excise, Service Tax and respective State Laws Service Tax: Any provider of taxable service whose aggregate value of taxable service in a financial year exceeds nine lakh rupees shall make an application for registration within a period of thirty days of exceeding the aggregate value of taxable service of nine lakh rupees. Central Excise: The exemption is provided in terms of payment of excise duty as SSI. The exemption is available for first clearances up to an aggregate value not exceeding one hundred and fifty lakh rupees made. VAT: Following table shows the general threshold limit under respective VAT laws: Region State Turnover WCT North Delhi ₹ 20 lakh in the current year Total contract amount received exceeds ₹ 20 lakh North Haryana ₹ 5 lakh in th

= = = = = = = =

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

= = = = = = = =

s ₹ 5 lakh Central MP Turnover exceeds ₹ 5 lakh Turnover exceeds ₹ 5 lakh Central Bihar Turnover exceeds ₹ 5 lakh Every contractor executing has to get registration irrespective of the turnover. Central Chhattisgarh Turnover exceeds ₹ 10 lakh If taxable turnover of the dealer equals or exceeds the limit prescribed. Central Jharkhand Turnover exceeds ₹ 5 lakh Dealer involved in Works Contract and leasing with a turnover exceeding ₹ 25,000. Central Orissa Turnover exceeds ₹ 5 lakh ₹ 50,000 South AP Turnover exceeds ₹ 50 lakh for twelve consecutive month Executing works contract of the value exceeding ₹ 7.5 lakh for Government or local authority or opted for composition South Karnataka Taxable turnover is likely to exceed ₹ 7.5 lakh at any time during the year Taxable turnover exceed ₹ 62,500 in any month. If taxable turnover of the dealer equals or exceeds the limit prescribed. South Kerala Total Turnover durin

= = = = = = = =

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

= = = = = = = =

kh Total contract amount received exceeds ₹ 50,000 East Meghalaya Gross taxable turnover exceeds ₹ 1 lakh Total contract amount received exceeds ₹ 1 lakh East Mizoram Gross taxable turnover exceeds ₹ 3 lakh Total contract amount received exceeds ₹ 3 lakh East Tripura Gross taxable turnover exceeds ₹ 3 lakh during any period of 12 consecutive months Nil East Nagaland Gross taxable turnover exceeds ₹ 3 lakh Total contract amount received exceeds ₹ 3 lakh Registration under GST Every person shall have a Permanent Account Number issued under the Income Tax Act, 1961 (43 of 1961) in order to be eligible for grant of registration. [S. 19(4)] A non-resident taxable person may be granted registration under sub-section (1) on the basis of any other document as may be prescribed.[S. 19(4A)] The registration or the Unique Identity Number, shall be granted or, as the case may be, rejected after due verification in the manner and within such period as

= = = = = = = =

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

= = = = = = = =

each business vertical, subject to such conditions as may be prescribed. A person may get himself registered voluntarily. Following person shall require to obtain a Unique Identification Number for the purpose as notified including refund of taxes on the notified supplies of goods and/or services received by them: any specialized agency of the United Nations Organization; any Multilateral Financial Institution and Organization notified under the United Nations (Privileges and Immunities) Act, 1947 (46 of 1947); Consulate or Embassy of foreign countries; and any other person or class of persons as may be notified by the Board / Commissioner. Special Provision for casual taxable person and non-resident taxable person The certificate of registration issued to a casual taxable person or a non-resident taxable person shall be valid for a period of ninety days from the effective date of registration. [S. 19A(1)] The proper officer may, at the request of the said taxable person, extend the af

= = = = = = = =

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

= = = = = = = =

giving a notice to show cause and without giving the person a reasonable opportunity of being heard. [S. 20(3)] Any rejection or, as the case may be, approval of amendments under the CGST Act/SGST Act shall be deemed to be a rejection or approval of amendments under the SGST Act/CGST Act. [S. 20(4)] Cancellation of Registration The registration certificate shall be cancelled either on his own motion by the proper officer or on an application filed by the registered taxable person or by his legal heirs (in case of death of such person), as the case may be, under the following circumstances: Discontinuance/merger/demerger/amalgamation of business or otherwise disposed of. Change in constitution of business. The registered taxable person has contravened such provisions of the Act or the rules made thereunder as may be prescribed. A person paying tax under section 8 has not furnished returns for three consecutive tax periods. Any taxable person, other than a person specified in point (e),

= = = = = = = =

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

= = = = = = = =

ion or the output tax payable on such goods, whichever is higher. In case of capital goods, the taxable person shall pay an amount equal to the input tax credit taken on the said capital goods reduced by the percentage points as may be prescribed in this behalf or the tax on the transaction value of such capital goods, whichever is higher. Revocation of cancellation of registration Every registered person whose registration has been cancelled by the proper officer suo motu, may apply for revocation of registration within 30 days from the date of cancellation order. The proper officer may either revoke the cancellation of the registration or reject the application for revocation for good and sufficient reasons. The proper shall require to serve a proper show cause notice or give a reasonable opportunity of being heard before rejecting the application for revocation. Revocation of cancellation of registration under the CGST Act / SGST Act shall be deemed to be a revocation of cancellatio

= = = = = = = =

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

= = = = = = = =

Frequently Asked Questions (FAQ) on GST – as released by CBEC as on 21.09.2016

Goods and Services Tax – GST – Dated:- 22-9-2016 – GST – FAQ – Chapter wise / Question Wise As part of this capacity building exercise, the NACEN has prepared a compilation of Frequently Asked Questions (FAQ) based on inputs gathered while conducting training and interactive sessions, as a training tool for helping the officers as well as public, to get acquainted with the Model GST Law and its nuances. The FAQs have been prepared and reviewed by a team of officials from both Centre and States.

= = = = = = = =

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

= = = = = = = =

WORLD WIDE GST, VAT, SALES TAX RATE

Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 21-9-2016 Last Replied Date:- 24-9-2016 – In India, we are entering into GST regime from the existing indirect tax regime which is a major change in the taxation area. The Constitution has been amended authorizing the Central Government and State Government to levy GST, IGST. The Hon ble President India has also notified the GST Council which began its functioning for the smooth adoption of GST which is expected with effect from 01.04.2017. The new tax rates are to be determined by the Council. EYGM Limited has brought a book entitled WORLDWISE GST, VAT, SALES TAX GUIDE, 2016 (as on 01.01.2016). This book describes the indirect tax systems in 115 countries including India. For each country the book gives – At a glance, what are the basic features of the major indirect tax in this country? What is the scope and who is taxable? What are the rates and how has the country defines the time of supply? When can taxpayers reco

= = = = = = = =

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

= = = = = = = =

s – 1.5% HT Rates – 1% 5 Australia GST 01.07.2000 AUD – 75000 AUD – 150000 for non profit bodies 10% 6 Austria VAT 01.01.1973 EUR 30000 Standard – 19%, 20% Reduced – 10%, 13% 7 Azerbaijan VAT 01.01.1992 AZN 200000 for a period 12 consecutive months 18% 8 Bahamas VAT 01.01.2015 BSD 100000 7.5% 9 Barbados VAT 01.01.19974 BBD200000 Standard -17.5%; Reduced – 7.5% 10 Belarus VAT 19.12.1991 No Standard – 20%; Reduced-10% 11 Belgium VAT 01.01.1971 No Standard -21% Reduced -6%,12% 12 Bolivia VAT July 1986 No 13%-nominal rate; 14.99% – effective rate 13 BES Islands (Bonaire, Sint, Eustatius and Saba) GET – General Expenditure Tax 01.01.2011 No Bonaire – Service-6%; Goods-8%; import -8%; others-25%,7%,0% Sint, Eustatius and Saba- Service – 4; goods – 6%; import -6%; others-5%,10%, 18%,22%,30% 14 Bostwana VAT 01.07.2002 BWP 1million 12% 15 Brazil Multiple taxes 16 Bulgaria VAT 01.04.1994 BGN50000 Standard- 20% Reduced-9% 17 Canada GST HST 01.01.1991 01.04.1997 CAD 30000 GST – 5%; HST – 9.95% to

= = = = = = = =

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

= = = = = = = =

000 Standard – 24; reduced-10% & 14% 34 France VAT 10.04.1954 None Standard – 20%; Reduced-2.1%, 5.5%,10% 35 Georgia VAT 24.12.1993 GEL100000 Standard-18%;Reduced- 0.54% 36 Germany VAT 01.01.1968 None Standard – 19%; Reduced-7% 37 Ghana VAT 18.03.1998 GHS200000 Standard – 15% 38 Greece VAT 01.01.1987 None Standard – 23%; Reduced-6%, 13% 39 Guatemala VAT 01.07.1992 No Standard-12%; Reduced -5% 40 Honduras VAT 01.01.1964 No Standard-15%;Other -18% 41 Hungary VAT 01.01.1998 No Standard-27%; Reduced-5%, 18% 42 Iceland VAT 01.01.1990 ISK1000000 Standrad-24%; Reduced-11% 43 Indonesia VAT 01.01.1984 IDR4.8 billion 10% 44 Ireland, Republic of VAT 01.11.1972 Services-EUR37500 Goods-EUR70000 Standard-23%; Reduced -9% and 13.5% 45 Isle of Man VAT 01.04.1973 GBP82000 Standard-20%; Reduced-5% 46 Israel VAT 01.07.1976 ILS100000 17% 47 Italy VAT 01.01.1973 No Standard-22%; Reduced-4%,5%,10% 48 Japan Consumption tax 01.04.1989 JPY10million 8% 49 Jersey, Channel Islands GST 06.05.2008 GBP300000 5%

= = = = = = = =

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

= = = = = = = =

llion; Voluntary-MNT10 million 10% 68 Morocco VAT 01.01.1986 No Standard-20%; Reduced-7%,10% & 14% 69 Myanmar Commercial tax 31.03.1990 MMK20000000 Goods – 5% – 120%; Services-5% 70 Namibia VAT 27.11.2000 NAD500000 15% 71 Netherlands VAT 01.01.1969 No Standard-21%; Reduced-6% 72 New Zealand GST 01.10.1986 NZD60000 15% 73 Nicaragua VAT 06.05.2003 No 15% 74 Nigeria VAT 24.08.1993 No 5% 75 Norway VAT 01.01.1970 NOK50000 Standard-25%; Reduced-10% & 15% 76 Pakistan Sales tax 01.11.1990 PKR5million or utility bills exceed PKR800000 Goods-17%; Services-16%, 15% & 14%; Others-24%,19.5%18.5%, 18% 77 Panama VAT 22.12.1976 USD360000 Standard-7%; Other-10%, 15% 78 Papua New Guinea GST 01.01.2004 PGK250000 10% 79 Paraguay VAT 01.07.1992 No Standard-10%;Reduced-5% 80 Peru VAT 01.08.1991 No 18% 81 Philippines VAT 01.01.1988 PHP1919500 12% 82 Poland VAT 05.07.1993 PLN150000 Standard-23%; Reduced-5%,8% 83 Portugal VAT 01.01.1986 No Standard-23%; Intermediate-16% Reduced-6% 84 Pureto Rico Sa

= = = = = = = =

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

= = = = = = = =

an Business tax 13.06.1931 No VAT-5%; Gross business receipt tax-0.1% to 25% 101 Tanzania VAT 01.07.2015 TZS100 million 18% 102 Thailand VAT 01.01.1992 THB1800000 7% 103 Trinidad and Tobago VAT 01.01.1990 TTD500000 12.5% 104 Tunisia VAT 02.06.1988 TND100000 Standard-18%; Reduced-6% and 12% 105 Turkey VAT 02.11.1984 No Standard-18%; Reduced-1% and 8% 106 Uganda VAT 01.07.1996 UGX150million 18% 107 Ukraine VAT 01.01.1992 UAH1000000 Standard-20%; Reduced-7% 108 United Kingdom VAT 01.041973 GBP82000 Standard-20%; Reduced-5% 109 United States No uniformity among states 110 Uruguay VAT 29.12.1972 No Standard-22%; Reduced-10% 111 Venezuela VAT 01.10.1993 No Standard-12%; Other-maximum16.5% 112 Vietnam VAT 01.01.1999 No Standard 10%; Reduced-5% 113 Zambia VAT July 1995 ZMW80000 16% 114 Zimbabwe VAT 01.01.2004 USD60000 15% Source: Worldwide VAT, GST, Sales Tax Guide, 2016. – Reply By Ganeshan Kalyani – The Reply = nice compilation sir. thanks.Aruba country is having lowest tax rate of 1% and 1.

= = = = = = = =

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

= = = = = = = =

Ready for New Era- Goods and service Tax

Goods and Services Tax – GST – By: – Prafful Lalwani – Dated:- 21-9-2016 Last Replied Date:- 30-12-1899 – Introduction GST will be a game changing reform for the Indian economy by creating a common Indian market and reducing the cascading effect of tax on the cost of goods and services. The Constitution Amendment Bill for Goods and Services Tax (hereinafter referred to as GST ) has been approved by the President of India post its passage in the Parliament (by Rajya Sabha on 3 August 2016 and by Lok Sabha on 8 August 2016) and has also been ratified by more than 50 percent of state legislatures. The Government of India is committed to replace all the indirect taxes levied on goods and services by the Centre and States and to implement GST by April 2017. Salient Features of the proposed Indian GST System: GST is defined as any tax on supply of goods and services other than on alcohol for human consumption. Taxes would be subsumed under this regime as per follows: Petroleum and petroleum

= = = = = = = =

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

= = = = = = = =

invoice Date of debit in books. Earlier of date of issue of invoice or receipt of payment (if invoice issued within prescribed period) Earlier of completion of service or receipt of payment (if invoice issued within prescribed period) Date shown by recipient in his books Specific provisions made for continuous supply of services. Earliest of the following- Receipt of goods Date of payment Date of receipt of invoice Date of debit in books Procedural aspects Registration – Registration is mandatory for dealers having turnover over the specified limit. Dealers who are already registered with state VAT/sales tax authorities would be granted temporary registration number automatically under the GST regime and they have to get the permanent registration number within 6 months from the date GST becomes effective. Dealers would be allotted PAN based 15 digit alpha numeric registration number and separate registration is required for each state in which dealer is having business. Returns and t

= = = = = = = =

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

= = = = = = = =

n identification number (CIN) will be generated against CPIN. Refund of taxes- Refund will be given in cases like export, unutilized credit, completion of assessment etc. In case of refund relating to input/input services used for export, the time limit for filing refund claim is one year from the date of export and the refund claim has to be certified by a chartered accountant. Principle of unjust enrichment is applicable in case of all refunds. GST returns and Due date of filling the returns: GST Return particulars Due Dates GSTR 1- Sales Register 10th of the next month. GSTR 2- Purchase Register 15th of the next month. GSTR 3- Monthly return form 20th of the next month. GSTR 4- Quarterly return for compounding dealers On and before 18th of the month after the quarter. GSTR 5- Periodic return by Non-Resident Taxpayer Within 18th day after end of the month. GSTR 6- Return for Input Service Distributor (ISD) 15th of the next month. GSTR 7- Return for Tax Deducted at Source 10th of the

= = = = = = = =

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

= = = = = = = =

Concept of Supply in GST & Issues

Goods and Services Tax – GST – By: – Ranjan Mehta – Dated:- 21-9-2016 Last Replied Date:- 26-9-2016 – The biggest change due to GST regime is the point when GST will be applicable i.e. Supply. First thing to understand before going forward to understand is that GST is a Destination based or consumption based regime of tax against the current Origin based regime. In present VAT regime the goods are first taxed in the state of manufacture and after that at every point from where the sale is initiated. However in GST the goods will be taxed in the state in which the sale transaction concludes. What is Supply ??? This definition is given under section 3 of Model GST law, which starts as Supply includes . There is no specific definition attached to the word supply, which is the very base of the whole regime. This definition has been made an inclusive one with a deliberate intention from the Lawmakers that they can include anything under this with or without deeming fiction. Now as per defi

= = = = = = = =

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

= = = = = = = =

er by the said person or by any other person: Provided that a deposit, whether refundable or not, given in respect of the supply of goods and/or services shall not be considered as payment made for the supply unless the supplier applies the deposit as consideration for the supply; The above definition signifies that any consideration be it cash or kind; be it by recipient or any other person shall constitute valid consideration. It will create a few issues which we will discuss in the final section. Word forbearance is also included here. However the same is part of current Service tax law under declared service but there was no specific provision for the same in various State VAT Laws. Business (17) business includes – (a) any trade, commerce, manufacture, profession, vocation or any other similar activity, whether or not it is for a pecuniary benefit; (b) any transaction in connection with or incidental or ancillary to (a) above; (c) any transaction in the nature of (a) above, whethe

= = = = = = = =

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

= = = = = = = =

siness. Now there is Clause (b) to section 3(1) which applies in case of import of service transactions. Its application is as follows:- It applies to import of services With or without consideration Whether or not for Business That means import of service transactions will be treated as supplies even if they are for personal use and without consideration. Clause (c) of section 3(1) deals with cases which will be deemed supply even without consideration. These cases are enumerated in schedule I. Sec 3(2) specifies Schedule II which deals with cases in which a deeming fiction has been applied by law. Some cases are deemed supply of goods while others are deemed supply of services. Above clauses will be explained separately in next article. Principal Agent case: Sec 3(2A) specifies that any transaction of goods and/or services between agent and principal shall be deemed to be supply. This means that earlier the Agents were not liable to tax under the VAT laws if principal makes the payme

= = = = = = = =

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

= = = = = = = =

present is to make all advances to be brought into the ambit of supply. Import of personal services : All imports of services are included in supply including personal imports. The monetary consideration is also not required. An example:- If we register at freelancer.com and it provides 1st 5 bids everymonth free of cost then such free bids are import of services without consideration. This free of cost importation of service is deemed supply under clause (b) to sec 3(1). Principal to agent transfer : Transaction of transfer of goods and/or services between agent and principal is supply now. When the Principal sends the goods to the agent the same shall be supply and Principal shall pay GST on such goods/services raising a GST invoice. This is going to change the whole business structure in big industries where Big corporates appoint distributors on agency basis and book their sale only when it is finally sold by the agent. Now the suppliers will be required to pay GST at the time of s

= = = = = = = =

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

= = = = = = = =

Job work in GST

Goods and Services Tax – Started By: – Narendra Soni – Dated:- 20-9-2016 Last Replied Date:- 22-9-2016 – Dear Expert,Please suggest whether job work is taxable in GST.Taxable for Principle & for Job worker, registered and unregistered supplier & job workerIf returned after job working to principal, andIf direct sale/export from the premises of Job worker.Thanks. – Reply By MARIAPPAN GOVINDARAJAN – The Reply = In my view it will be there. However it can be ascertained on the outcome of regular Acts and Rules. – Reply By CA Surender Gupta – The Reply = As per the scheme under the present Model Draft GST law, Goods will be allowed to be send for Job Work without payment of Tax. Further, subject to conditions and permissions, goods wil

= = = = = = = =

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

= = = = = = = =

ial to job worker and receiving it back or selling it from job worker premises is framed same as it is in current excise law. The time period of capital goods sending to job worker is also same in draft model gst law.Thanks experts to enlightening the subject. – Reply By YAGAY AND SUN – The Reply = Only one major change that if goods are not returned within prescribed time limit then interest along with Duty needs to be reversed and at the event of return of goods interest along with duty shall be taken back. – Reply By YAGAY AND SUN – The Reply = Comptroller Auditor General's Objections on CENVAT Credit CAG of India had conducted a Performance Audit on CENVAT credit scheme, to seek an assurance that provisions in the Act/rules/clarific

= = = = = = = =

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

= = = = = = = =

re is no specific provision for charging interest on such delayed reversal. This results in loss of interest to the Government. Audit Recommends: The Government may consider inserting provision for charging interest in case of non/delayed reversal of CENVAT credit in respect of non/delayed receipt of goods sent to job worker. The Tariff Conference held on 28 and 29 October 2015 had decided that the interest is liable to be paid after the expiry of period of 180 days and there is no need for insertion of provision for charging interest. However, Audit is of the opinion that to avoid ambiguity there is a need to insert specific provision in this regard. – Reply By Ganeshan Kalyani – The Reply = Yes the good part is interest paid is also propo

= = = = = = = =

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

= = = = = = = =

Transitional Provisions under Goods and Service Tax

Goods and Services Tax – GST – By: – CS SANJAY MALHOTRA – Dated:- 19-9-2016 Last Replied Date:- 30-12-2016 – As Goods and Service Tax will bring in Business Transformation; it s important to understand the Transitional Provisions to ensure that the proposed tax system takes care of existing tax credits, payments and should not be a TAX COST for the assessee s in GST. Due care has to be taken in shift over from Present set of Indirect Tax system to GST Regime so that the required compliances shall be complied with and taxes paid under present taxation system should be rolled over in GST Law. Appointment of Officers under GST Act (Section 141) of Model GST Law provides that all the officers appointed under Central / State Laws relating to Taxes shall be deemed to have been appointed as GST Officers under the respective Acts. Migration of Existing Tax Payers (Section 142) All the persons registered under the present Tax structure shall be migrated automatically to GST on provisional basi

= = = = = = = =

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

= = = = = = = =

day on which GST Act comes into force. Tax credit has to be taken as opening balance in Electronic Ledger i.e. online Input Tax Credit Ledger in GSTIN. CENVAT Credit available under Excise and Service Tax as on date preceding to GST Act date shall be carried forward in Electronic Ledger under the head CGST and Vat credit under the head SGST . Tax Credit has to be carry forward provided the same is admissible both under present and in GST law. Tax Credit shall be recovered as tax arrears by Central / State GST officers if the same is found to be recoverable as a result of any proceeding initiated before or after the GST Act comes into force. The above provisions shall be incorporated under respective CGST and SGST Acts. Unavailed CENVAT Credit on Capital Goods not carry forward in return to be allowed in GST in certain situation (Section 144) Unavailed CENVAT credit means that the tax credit on capital goods which have not been availed. For e.g. in the present Excise law, CENVAT credit

= = = = = = = =

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

= = = = = = = =

r after the GST Act comes into force. The above provisions shall be incorporated under respective CGST and SGST Acts. Credit of eligible duties and taxes in respect of inputs held in stock to be allowed in certain situations (Section 145) Any person who is into the sales of exempted goods under the present law is exempted from Registration and further he shall have to get himself registered under the GST Act if the products come out of exemption or is subject to levy under the GST Act. Such registered persons under the GST Act shall be eligible to claim Input Tax credit in respect of Inputs, WIP held in stock , Inputs contained in final products as on the date immediately preceding to the Date from which GST Act comes into force. Credit of eligible duties and taxes on inputs held in stock to be allowed to a taxable person switching over from composition scheme (Section 146) Any Registered person who is paying tax in the capacity of Composite Tax Payer at a fixed rate or fixed amount un

= = = = = = = =

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

= = = = = = = =

hall pay an amount, by way of debit in the electronic credit ledger or electronic cash ledger, equivalent to the credit of input tax in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the day immediately preceding the date of such switch over: Provided that after payment of such amount, the balance of input tax credit, if any lying in his electronic credit ledger shall lapse. The above provisions shall be incorporated under respective CGST and SGST Acts. Exempted Goods Returned to Place of Business in GST regime(Section 148) No Tax shall be payable by the person returning the exempted goods provided the said goods are cleared not earlier than a period of 6 months from the date of enactment of GST Act and further returned to supplier of goods within a period of 6 months from the date on which GST Act comes into force. Tax stands payable if the above stated condition is not satisfied. The above provisions shall be incorporated unde

= = = = = = = =

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

= = = = = = = =

ed back within a period of 6 months from the date when GST comes into force OR Tax is to be paid by Job Worker if the goods after processing are returned back after a period of 6 months after the GST enactment date. If registered person shows sufficient cause, then the period of 6 months may be extended by another 2 months by the competent authority. The above provisions shall be incorporated under respective CGST and SGST Acts. Semi-finished Goods removed for job work and returned on or after the appointed day (Section 151) In case Semi-finished goods are removed for carrying out certain manufacturing processes under the provisions of present tax law for further processing, testing, repair, etc and are returned after processing within a period of 6 months from the date on which GST Act comes into force, then NO Tax shall be payable. Tax shall be payable by manufacturer if the inputs are not received back within a period of 6 months from the date when GST comes into force OR Tax is to

= = = = = = = =

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

= = = = = = = =

after the GST enactment date. If registered person shows sufficient cause, then the period of 6 months may be extended by another 2 months by the competent authority. The above provisions shall be incorporated under respective CGST and SGST Acts. Issue of supplementary invoices, debit or credit notes where price is revised in pursuance of a contract (Section 153) In case the price of goods are revised upwards after their clearance from the supplier premises, the taxable person issuing the goods has to issue supplementary Invoice or Debit Note containing such particulars as may be prescribed under the GST Rules within a period of THIRTY DAYS of such price revision. In case the price of goods are revised downwards after their clearance from the supplier premises, the taxable person issuing the goods has to issue supplementary Invoice or Credit Note containing such particulars as may be prescribed under the GST Rules within a period of THIRTY DAYS of such price revision Such Debit Note /

= = = = = = = =

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

= = = = = = = =

provisions shall be incorporated under respective CGST and SGST Acts. Claim of CENVAT Credit to be disposed of under earlier Law (Section 155) Claim for CENVAT Credit on account of any appeal, revision, review or reference shall be disposed off in accordance with the provisions of earlier law and any amount stands accrue to the person shall be paid in Cash. In similar way, any amount stands recoverable on account of any appeal, revision; review or reference shall be recoverable as Tax arrears and shall not be admissible as input tax credit under this Act. The above provisions shall be incorporated under respective CGST and SGST Acts. Finalisation of proceedings relating to Output Tax Liability (Section 156) Every proceeding initiated under any appeal, revision, review or reference shall be disposed off in accordance with the provisions of earlier law and any amount stands accrue to the person shall be paid in Cash and ANY amount stands recoverable on account of any appeal, revision; re

= = = = = = = =

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

= = = = = = = =

of Returns (Section 158) Where any duty / interest / penalty or any other amount stands recoverable due to Revision in Return furnished under earlier law, the same shall be recovered as Tax arrears and amount shall not be admissible as input tax credit under this Act. Where any duty / interest / penalty or any other amount becomes Refundable due to Revision in Return furnished under earlier law, the same shall be refunded to him in Cash or as per the provisions of earlier act. The above provisions shall be incorporated under respective CGST and SGST Acts. Treatment of long term construction / works contracts (Section 159) Tax is applicable at the rates specified under GST Act in respect of Supply of Goods and services provided after the enactment of GST Act even if the agreement / contract is executed prior to introduction of GST Act. The above provisions shall be incorporated under respective CGST and SGST Acts. Progressive or periodic supply of goods or services (Section 160) No Tax

= = = = = = = =

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

= = = = = = = =

lace subject to the following conditions:- (i) the agent is a registered taxable person under this Act; (ii) both the principal and the agent declare the details of stock of goods lying with such agent on the date immediately preceding the appointed day in such form and manner and within such time as may be prescribed in this behalf; (iii) the invoices for such goods had been issued not earlier than twelve months immediately preceding the appointed day; and (iv) the principal has either reversed or not availed of the input tax credit in respect of such goods. Tax paid on Capital Goods lying with Agents to be allowed as Credit under SGST Law (Section 162B) This provision shall be incorporated only under respective SGST Acts. Input Tax credit is admissible to the Agent in respect of CAPITAL goods lying at his place subject to the following conditions:- (i) the agent is a registered taxable person under this Act; (ii) both the principal and the agent declare the details of stock of capita

= = = = = = = =

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

= = = = = = = =

Composition scheme under GST

Goods and Services Tax – GST – By: – CA Venkata prasad Pasupuleti – Dated:- 17-9-2016 – GST is intend to cover larger number of people under its net and further keeping threshold exemption limit of 10Lakhs many people would come under GST net. Small tax payers may not have sufficient infrastructure, knowledge, awareness etc., in complying with various provisions of law including accounting, IT/ERP availability, and huge paper work. Because of this, every tax law provides alternative simplified scheme for the small tax payers, which is rough & ready method. GST law has no exception to this and Section 8 of Draft GST law deals with the same. Brief understanding of the scheme is as follows: Scheme is based on recommendations of the GST Council Scheme is subject to prescribed conditions and restrictions (to be prescribed) The proper officer of CGST/SGST shall permit the tax payer to pay/assessee under this scheme instead of paying at full rate. In existing many VAT laws or service tax

= = = = = = = =

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

= = = = = = = =

GST rate. However this would be clear only when SGST law is out or any clarification in this regard. Tax rate shall be applied on turnover. Section simply refers turnover and not to the taxable turnover because of this, GST may have to be paid under this scheme even on non-taxable supplies. This lapse may be unintended and can expect replacement with taxable turnover . Sometimes it may happen that total turnover is ₹ 40Lakhs, out of which majority turnover is exports or exempted but there will be some local sales like old furniture or scrap sales etc., which may come around ₹ 1 lakh then GST payable thereon is coming around 40,000/- (assuming 1% rate) thereby making effective tax as 40%, which would be more than expected regular rate of GST. Permission to assess under this scheme is not eligible for the persons effecting any inter-state supplies of goods/services. Section says effects inter-state supply which implies that both output & input should be within one state t

= = = = = = = =

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

= = = = = = = =

is is too harsh & heavy. For instance, person availed this scheme on notion that there would not be any interstate supplies (both procurements & output) but during later part of the year such inter-state supplies are made for whatever reasons it may be (like urgent business need or customer specification to use particular state raw materials etc.,) then the implications are heavy as he has to pay GST on all his supplies at full rate of GST along with 100% penalty apart from obvious interest liability. Further this differential tax may have to be paid from his own pocket as might have missed to collect from his customers (because he is under this scheme at that time). Such penalty shall be levied only after affording a reasonable opportunity of being heard to the taxable person being penalized. In addition to the above, liability under reverse charge may exist. This is because, scheme overrides all provisions of law except reverse charge that is levied u/s. 7(3) of GST law. Tax

= = = = = = = =

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

= = = = = = = =

Goods and Service Tax – Export of Goods & Services

Goods and Services Tax – GST – By: – CS SANJAY MALHOTRA – Dated:- 17-9-2016 Last Replied Date:- 17-9-2016 – Goods and Service Tax – Export of Goods GST is not the change in Tax Structure but would result in Business Transformation. One would definitely witness the Growth in Exports with the introduction of GST. Taxes and Duties are never exported and have to be neutralised to the Exporter by way of refund or drawback so that the same may not add to the cost of goods and exports remain competitive in the International market. Exports can be Direct Exports, Deemed Exports or Third Party Exports. Direct Exports refer to exports where the goods supplied are exported to any country outside India and the payment is received either in Free Foreign Exchange or in Indian Rupees through Vostro account. Deemed Exports refer to exports where the goods supplied do not leave India and the payment is received either in Free Foreign Exchange or in Indian Rupees. Third Party Exports are exports made b

= = = = = = = =

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

= = = = = = = =

Refund Section 38(1) of Model GST Law 2016 provides that the exporter claiming refund has to file application for claiming refund with TWO YEARS from the Relevant Date (defined at the end of article) Refund under GST In the present Central Excise Act, exporter of goods procure Duty Free material against CT-1, CT-3, Concessional Duty Certificates and export the goods without payment of duty under Bond. In GST Regime, all forms i.e. CT-1, CT-3 shall be done away with and the goods have to be purchased on payment of GST which is available for refund. No refund shall be admissible if the amount is less than ₹ 1000/- Mentioned below are the options available under GST with the exporter for availing Refund in respect of Export of Goods: Refund of GST paid on Input & Input Services is available under GST OR alternatively Rebate of GST is available on finished goods. (This provision is similar to the existing provision under Present Central Excise, Service Tax & VAT Act. At prese

= = = = = = = =

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

= = = = = = = =

del GST law provides for Refund of unutilised accumulated on account of Exports, except on goods which are subject to Export Duty. Rule 38(4)(a) provides for refund of 80% to taxable person within the time specified and terms and conditions to be defined in GST Rules to be framed and balance 20% to be released after due verification of all the export documents. In any case the refund has to be processed within a maximum period of 90 days. Refund on Export of Goods / Services is available to the Exporter in respect of Tax paid on Inputs, services used in the supply of goods for Export. (Section 38(6)(a) of Model GST Law) Deemed Exports – Refund of GST In the present environment, the supplies to EOU / Projects under International Competitive Bidding / Mega Power Plants / World Bank funded Projects are exempted against Concessional Duty Certificates, which does not exist in the GST- Model Draft Law. GST is to be paid on supplies to above stated sectors and option is available with both i.

= = = = = = = =

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

= = = = = = = =

case of Movement by Road / Bank Realisation Certificate. Invoice wise sales data is to be uploaded online at the time of submission of Return for Outward supplies; GSTIN may establish linkage between ICEGATE, DGFT and GST returns to ensure sanction of valid export claims. E-BRC module for payment realisation in case of export of material as exists in the DGFT system can be verified online by GST officer for processing of claim. The same would reduce the transaction cost of Exporters and adds to Ease of Doing Business. Relevant Date is defined under Model GST Law as: in the case of goods exported out of India where a refund of tax paid is available in respect of the goods themselves or, as the case may be, the inputs or input services used in such goods, – (i) if the goods are exported by sea or air, the date on which the ship or the aircraft in which such goods are loaded, leaves India, or (ii) if the goods are exported by land, the date on which such goods pass the frontier, or (iii)

= = = = = = = =

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

= = = = = = = =

f the invoice; (e) in case where the tax becomes refundable as a consequence of judgment, decree, order or direction of Appellate Authority, Appellate Tribunal or any Court, the date of communication of such judgment, decree, order or direction; (f) in the case of refund of unutilized input tax credit under sub-section (2), the end of the financial year in which such claim for refund arises; and (g) in the case where tax is paid provisionally under this Act or the rules made thereunder, the date of adjustment of tax after the final assessment thereof. The basic principle lying behind GST is to do away with the exemptions so that the Tax Base shall be widened thus resulting in Reduction in GST Rates. Section 38 of Model GST law provides for Refund of unutilised accumulated on account of Exports, except on goods which are subject to Export Duty. Rule 38(4)(a) provides for refund of 80% to taxable person within the time specified and terms and conditions to be defined in GST Rules to be f

= = = = = = = =

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

= = = = = = = =

GST and C.B.E. & C.

Service Tax – D.O. No. 137/Chairman(CBEC)/2016 – Dated:- 17-9-2016 – Letter D.O. No. 137/Chairman(CBEC)/2016 Government of India Ministry of Finance (Department of Revenue) Central Board of Excise & Customs New Delhi, dated 17-9-2016 The journey to rollout the Goods and Services Tax (GST) has commenced with the enactment of the 101st Constitution Amendment Act, 2016 on 8th September, 2016 and the subsequent notifications. The Government is committed and has set in motion a slew of steps to ensure that the GST comes into force from 1st of April, 2017. In this backdrop, the role of CBEC is of utmost significance and importance. 2. As you are aware, CBEC has been closely associated in the drafting of the model GST law, rules and proc

= = = = = = = =

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

= = = = = = = =

akeholders, acquiring and imparting necessary IT skills. 4. Given the tectonic and positive changes taking place in the country, I am dismayed to learn about concerns being expressed in some quarters, about the future of the service. We are at the cusp of the most historic change in the indirect tax structure and should welcome this exciting opportunity. 5. As a central service, CBEC will continue to collect CGST and IGST. There will be a growth not only in revenue but also in the tax base. We are in the process of en-cardering 50 per cent of all the posts in the GST Council Secretariat for CBEC. Petroleum and Tobacco products, which account for substantial revenue, shall for the present continue to be subject to central excise du

= = = = = = = =

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

= = = = = = = =

All the remaining provision of The Constitution (One Hundred and First Amendment) Act, 2016 comes into effect w.e.f. 16-9-2016 – Whereas provisions of Section 12 has already come into effect w.e.f. 12-9-2016

Goods and Services Tax – F. No. 31011/07/2014-SO (ST) – S.O. 2986(E) – Dated:- 16-9-2016 – MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 16th September, 2016 S.O. 2986(E).-In exercise of the powers conferred by sub-section (2) of section 1 of the Constitution (One Hundred and First Amendment) Act, 2016, the Central Government hereby appoints the 16th day of September, 2016 as the date on which the provisions of Sections 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 13, 14, 15, 16

= = = = = = = =

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

= = = = = = = =

Meeting taken by Prime Minister to review the preparedness for rollout of Goods and Services tax(GST)

Goods and Services Tax – GST – Dated:- 15-9-2016 – The Prime Minister held a meeting to review the preparedness for rollout for GST on 14th September, 2016. The meeting was attended by Union Finance Minister, both the Ministers of State for Finance, senior officers from the Prime Ministers office and Finance Ministry. In order to ensure that there is no slippage on date of implementation of GST from 1st April, 2017, the Prime Minister reviewed the progress made on various steps needed for the r

= = = = = = = =

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

= = = = = = = =