Intimation to pay tax under section 10 (composition levy)(Only for persons registered under the existing law migrating on the appointed day) – GST CMP – 01 – Final Rules (Draft) – Forms – GST – Compos
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Goods and Services Tax – GST – By: – Alok Agarwal – Dated:- 24-5-2017 Last Replied Date:- 29-5-2017 – Case Studies on Supply under GST Question 1 Mr. Happy (an unregistered person) plans to pursue his higher education in UK. He receives career consultancy services from a UK based consultant for ₹ 1, 20,000. Does it qualify as a supply? Answer: Yes. Importation of services for a consideration whether or not in the course or furtherance of business is covered under supply. Hence, in the above case it will be treated as supply. The UK based consultant would be required to register as Non Resident Taxable Person and shall discharge GST liability. Question 2 Happy Ltd provides management services without charge to Joy Ltd. Happy Ltd has a 30% shareholding in Joy Ltd. Does it qualify as a supply? Answer: Supply of goods or services between related persons is treated as supply even if it is without consideration (Schedule 1). However, as per the definition of related person, 2 persons
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customers premises. During one weekend, the van was used by its CFO for his relatives for a family outing. Is it a supply? Answer: Supply of goods or services by employer to employee when made in the course or furtherance of business shall be treated as Supply even if made without consideration. However, if the value of gifts is not exceeding ₹ 50,000 in a financial year by an employer to an employee shall not be treated as supply of goods or services or both. Question 5 Happy Ltd is a man power supply agency. They have supplied man power for cleaning a lake after the Ganesh immersion without charging any consideration. Is it a supply? Answer: A supply without consideration does not fall within the purview of supply unless made to a related person or is covered in any of the clause of Schedule 1. Question 6 Archean Constructions Ltd (A registered taxable person) receives architectural design supplied by a foreign architect to design a residential house to be built in Hyderabad f
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going concern (TAGC). Question 8 Transfer/Exchange of shares of a company on account of amalgamation/demerger/acquisition/restructuring without change in the legal entity Answer: A transaction in securities is neither supply of goods nor services. Securities are excluded from the definition of both goods as well as services. Question 9 Mudhra Ltd, an NBFC transfers bad loans (unsecured) to Vsupport Capital Advisors Ltd. Answer: Actionable claims are covered in definition of goods. However, Schedule III excludes actionable claims other than lottery, gambling and betting from the scope of supply. Transfer of unsecured loans, therefore, would not amount to supply. Hope this article is of help in your professional work. In case of any query/feedback please write us at alok@alokfoundation.com, Satish.vattam@gmail.com – Reply By sunil jagtiani – The Reply = Q-A No. 4 – A small doubt kindly clarifyWhether facilitate to employee to be consider as gift. Because there is no definition of gift in
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Goods and Services Tax – Started By: – Rajan Rajan – Dated:- 23-5-2017 Last Replied Date:- 24-5-2017 – Dear All,Whether RG-1 (Daily Stock Account) is applicable on GST regime. – Reply By Ganeshan Kalyani – The Reply = The said register is not required but the content as available in the register suffice the detail that are prescribed under accounts and records rules under GST. – Reply By KASTURI SETHI – The Reply = RG.1 register was dispensed with in year 2000. Now also proper accountal of the
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Goods and Services Tax – Started By: – Saurav Mallick – Dated:- 23-5-2017 Last Replied Date:- 23-5-2017 – Hi All,Company A sells product to distributor(registered) B where the price is INR 100 and GST is INR 12.When the distributor returns the product within 6 months from invoice date within state will GST be applicable if so at what rate?If this is an interstate return will GST be applicable is so what will be the GST rate?If the distributor returns after 6 months from invoice date will GST be
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Goods and Services Tax – GST – Dated:- 23-5-2017 – New Delhi, May 23 (PTI) Taxation on entertainment, cable and DTH services shall come down under the Goods and Services Tax regime as the 'entertainment tax' levied by states has been subsumed in the GST, the government said today. The Finance Ministry in a statement said services by way of admission to entertainment events or cinematography films in cinema theatres will attract 28 per cent GST with effect from July 1. Currently, states impose entertainment tax of up to 100 per cent in respect of exhibition of cinematography films in theatres/cinema halls. Under GST, the entertainment tax has been subsumed, and hence only the taxes levied by a panchayat or municipality on entertainm
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ideration for admission of ₹ 250 per person. These services currently attract entertainment tax levied by the states, the statement said. Presently, such service providers are not eligible to avail of input credits in respect of VAT paid on domestically procured capital goods and inputs or of Special Additional Duty (SAD) paid on imported capital goods and inputs, the statement added. Thus, while GST is a value added tax, entertainment tax, presently levied by the states is like a turnover tax, it added. The government has estimated that the incidence of taxes on smartphones, medical devices and cement will come down post GST rollout from July 1. Last week, the GST Council had finalised the fitment of over 1,200 goods and 500 services
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Goods and Services Tax – GST – Dated:- 23-5-2017 – Lower Tax Incidence on Entertainment Services under Goods and Services (GST) Tax Service providers shall be eligible for full Input Tax Credits (ITC) of GST paid in respect of inputs and input services Taxes on entertainments and amusements (covered by the erstwhile entry 62 of State List of the Constitution) have been subsumed under Goods and Services Tax (GST) except to the extent of taxes on entertainments and amusements levied by a Panchayat or a Municipality. The rate of GST approved by GST Council on services by way of admission to entertainment events or cinematography films in cinema theatres is 28%. However, the entertainment tax rates in respect of exhibition of cinematography fi
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Goods and Services Tax – GST – Dated:- 23-5-2017 – The roll out of Goods and Services (GST) Tax will bring benefits to the consumers due to reduced tax rates on various commodities such as packaged cement, medicaments, smart phones, and medical devices, etc. Packaged cement attracts central excise duty of 12.5% + ₹ 125 PMT and standard VAT rate of 14.5%. At these rates, the present total tax incidence works out to more than 29%. If we include tax incidence on account of CST, octroi, entry tax, etc., the present total tax incidence would work out to more than 31%. As against this, the proposed GST rate for cement is 28%. There will be lesser tax burden in case of Medicaments, including Ayurvedic, Unani, Siddha, Homeopathic or Bio-chem
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Cenvat credit of Capital Goods under GST – Goods and Services Tax – Started By: – Aitha RajyaLakshmi – Dated:- 23-5-2017 Last Replied Date:- 24-5-2017 – Sir,Whether under GST, Cenvat credit of Capital
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Income Tax – Deduction u/s. 80-IAB – The head of income under which the said income is assessable, which is on the basis of the source – from amongst the specified sources under the Act, most appropri
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Goods and Services Tax – GST – By: – Pradeep Jain – Dated:- 23-5-2017 Last Replied Date:- 24-5-2017 – Every registered person who causes movement of goods of consignment value exceeding fifty thousand rupees – (i) in relation to a supply; or (ii) for reasons other than supply; or (iii) due to inward supply from an unregistered person, shall, before commencement of movement, furnish information relating to the said goods in Part A of FORM GST INS-01, electronically, on the common portal. Any transporter transferring goods from one conveyance to another in the course of transit shall, before such transfer and further movement of goods, generate a new e-way bill. Thus every movement may it be from factory place to the place of transporter, or
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sporter and even the recipient, who have to communicate its acceptance or rejection of the consignment covered by the e-way bill within a very short period. This will cause myriad of inconveniences and cumbersome digital work for small time businessmen. Further transporters generally belong to a class that is unorganized and is not well versed with digital equipments, thus it will be a challenge to implement this system smoothly. Also the assessee will be left burdened with generating the E Bills for every single movement of goods. The proposed E-way bills, which will be required for movement of goods will make transport of goods a cumbersome, delayed and pricey affair under the GST regime. You can visit us at www.capradeepjain.com – Reply
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Provisional Input Credit – Goods and Services Tax – Started By: – puneet virmani – Dated:- 23-5-2017 Last Replied Date:- 24-5-2017 – What is provisional Input Credit under GST. For what period it'
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Goods and Services Tax – Started By: – yateen vyas – Dated:- 22-5-2017 Last Replied Date:- 23-5-2017 – Experts,1. Whether 5 % rate on GTA with no ITC,so this ITC not be available to service Receiver
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Transfer of EC SHEC balance in GST is possible or not. If not the what we will do of balances. Rgds, MJ – Reply By Vishnu Dutt Gupta – The Reply = Awaited your valuable comments. – Reply By GOKARNESAN.S SUBRAMANIAN – The Reply = Sri Vishnu Dutt Gupta According to me you are entitled to transfer the closing balance of credit declared in your June 2017 ER-1 return or ST-3 service tax return for the quarter ending June 2017 to the GST credit account on the following grounds:- a) In 2015 Budget, the Finance Minister has stated in his Budget Speech that the rate of duty for excise is fixed as 12.5% from 12.36% (12% basic + 2% Edu cess on Basic duty + 1% She Cess on Basic duty) since Education and SHE Cess have been subsumed in the basic rate of duty. Similarly for service tax from 12.36% to 14% . b) Further, Cenvat credit Rules have been amended in 2015 to allow to take credit Edu Cess and SHE Cess on goods received on or after 1.3.2015 with invoice dated prior t
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period when the same is allowed to be taken, the Department cannot deny such credit subsequently when exemption is given. e) Because of the Policy of Government that both Cesses have been subsumed with Basic Rate, one could not utilise the same . As such, the credit can be eligible for utilisation against basic duty. f) Further, Government allows the credit of Edu cess / SHE Cess on goods received on or after 1.3.2015 and also allow the same to utilise against basic duty. This clearly proves the intention of Government that since both Cessess have been subsumed with Basic rate, the said credit of cessess have been allowed to be utilised for payment of basic duty. The same analogy is applicable to closing balance lying in ER-1 as on 1.3.2015. g) Further, the Department has never insisted the manufacturers to reverse the credit lying in closing balance as on 1.3.2015 and even till the return for JUNE 2017, manufacturers are showing the same as closing balance unutilised and th
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existing Law and is also admissible as input tax credit under this Act. Further the Explanation says that …..unavailed credit means the amount that remains after substracting the amount of credit already availed in respect of capital goods by the taxable person under the existing law from the aggregate amount of cenvat credit to which the said person was entitled in respect of the said capital goods under the existing law. There is no doubt that the Education Cess / SHE cess were allowed as eligible credit in terms of the provisions of Rule 3 of Cenvat Credit Rules, 2004 till June 2017. Since the Transitional Provision clearly says that the credit was allowed under the existing Law , there is no problem in transferring such unavailed credit of Edu Cess and SHE cess along with basic credit. I request the Expers to given their views on this for the benefit of readers. S. Gokarnesan Advocate, Chennai 16.7.2017 – Reply By Vishnu Dutt Gupta – The Reply =
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Goods and Services Tax – GST – Dated:- 22-5-2017 – Mumbai, May 22 (PTI) The Goods and Services Tax (GST) is likely to have minimal direct impact on the consumer price index (CPI) basket, a report said. This is because most of the tax rates for the items in the CPI basket are likely to be taxed at a lower rate under the GST as compared to the existing levy, it said. However, assuming that GST does have the intended effect of increasing tax compliance, the tax burden would increase. This could lead companies to pass the costs of higher tax compliance on to the consumer at a later stage, said the report by Morgan Stanley. The impact, if any, on underlying inflationary pressures is likely to be transitory. The final impact will depend on the t
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Goods and Services Tax – GST – Dated:- 22-5-2017 – Mumbai, May 22 (PTI) The Maharashtra Assembly passed unanimously the State Goods and Services Tax (GST) Bill today, the last day of a special session of the state Legislature. After the passage of the bill in the Lower House, Chief Minister Devendra Fadnavis thanked everyone for their cooperation. All political parties had unanimity over the GST Bill. Today, this supreme House has unanimously passed this bill. I thank the House for this, Fadnavis said. The three-day special session to discuss and ratify the bill, to pave the way for the national roll-out of GST on July 1, began on Saturday. During the session, the Assembly passed three bills, including the State Goods and Services Tax Bill
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Goods and Services Tax – Started By: – GORAKHNATH KHARADE – Dated:- 22-5-2017 Last Replied Date:- 30-12-1899 – Sir, we are manufacturer of lubricating oil & grease currently in Excise chapter head no is 27101980 & 27101990 Respectively rate of Excise Duty is 14% 1. what will be SGST, CGST & IGST rate for our product and what will be billing structure. 2.01.07.2017 ONWARDS Commercial Invoice will countinue Please Explain Gorakhnath Kharade 9920200983 – Discussion-Forum – Knowledge Sh
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Goods and Services Tax – Started By: – Swapneswar muduli – Dated:- 22-5-2017 Last Replied Date:- 24-5-2017 – Dear Sir,We are a manufacturer situated in utarakahand presently we are in Exempted from Excise as well as CST & VAT so don't take Cenvat credit and also don't charge the Excise in Sales Invoice.But in GST how we will do our transaction whether we will Illegible for present Exemption or we need o pat tax under GST Please provide your valuable reply.RegardsSwapneswar – Reply B
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Goods and Services Tax – GST – Dated:- 20-5-2017 – New Delhi, May 20 (PTI) Commerce Minister Nirmala Sitharaman today assured exporters that they would get their refund tax claims within seven days under the new goods and services tax (GST) regime. She also said that the GST Council has been fairly seized of the tax refund issue under the new indirect tax regime, to be rolled out from July 1. On the refund, we are very very clear that 90 per cent of the advanced payed money (by exporters in the GST regime) will be refunded within 6 to 10 days, post which an interest of about 6 per cent will be given for any delay by the government to exporters, she told reporters here. She said this while speaking about the initiatives and achievements of
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he global markets. When asked about exporters' concern on rupee fluctuations, she said traders are fairly seized of this as it is not a sudden fluctuation. Currency fluctuation has become a new normal . But, if there are extreme fluctuations, it is for the RBI to look at intervening just that much, so that, any extreme fluctuations are taken care of, she added. On job creation, the minister informed that any proposal which goes to the Union Cabinet, its (proposal's) implication on jobs, is something which the Prime Minister is very keen and we all are providing expected impact on direct and indirect employment of every such proposals which goes to the Cabinet . India's exports grew by about 5 per cent to USD 276 billion in 2016-
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In reference to topic: https://www.taxmanagementindia.com/visitor/detail_article.asp?ArticleID=6871 kw=service-tax-exemption-packaged-customized-software packaged software is exempt from service tax. The software I sell is packaged and downloadable so no custom duty is applicable. Is that also true in case of GST? Is only 5% VAT/GST now applicable from july 1? Thanks, Parth – Reply By Rama Krishana – The Reply = Information technology Software is exempt from service tax subject to
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Goods and Services Tax – Started By: – N Balachandran – Dated:- 20-5-2017 Last Replied Date:- 20-5-2017 – Sir,Can u please confirm the rate of GST applicable on Sewage and Water pipe line works being executed for Municipal and Water supply and Sewage board>RegardsN.Balachandran – Reply By Rama Krishana – The Reply = As per the exemption list as available after the conclusion of GST council meet dated 19-5-2017, no exemption to such activity is visible.Lest us wait for final notification. – R
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Goods and Services Tax – GST – Dated:- 20-5-2017 – Srinagar, May 19 (PTI) With companies indicating a possible rise in prices on the Goods and Services Tax rollout from July 1, the finance ministry today warned India Inc against raising rates arbitrarily in anticipation of the GST. The tax department may invoke the anti-profiteering clause after the mechanism is put in place and may look into balance sheet of companies if they have gained from the GST and whether the benefits have been passed on to consumers. The machinery for the anti-profiteering authority may not be ready at present but any change in prices will be called into questioned, Revenue Secretary Hasmukh Adhia said, adding that any fluctuations in prices will be closely monito
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Goods and Services Tax – Goods and services Tax – Rates of Tax for goods and Services – Schedule wise and item wise – TMI Updates – Highlights
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Goods and Services Tax – GST – Dated:- 20-5-2017 – Updated as on 24-02-2019 GST Council meeting as on 24-2-2019 Recommendations of the 33rd GST Council meeting GST Council meeting as on 10-1-2019 Major Decisions taken by the GST Council in its 32nd Meeting held today under the Chairmanship of the Union Minister of Finance & Corporate Affairs, Shri Arun Jaitley Recommendations made during 32nd Meeting of the GST Council held on 10th January, 2019 GST Council meeting as on 22-12-2018 Recommendations made during 31st Meeting of the GST Council held on 22nd December, 2018 (New Delhi)-Rate changes Certain important issues referred by GST Council to various Committees / GoM Recommendations made during 31st Meeting of the GST Council Formatio
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e Group of Ministers on IT simplification Change in the shareholding pattern of GSTN 27th GST council meeting discusses change in GST rate for digital transactions and imposition of Sugar Cess GST Council meeting as on 10-3-2018 Recommendationsregarding Data Analytics made during the 26th meeting of the GST Council Recommendations regarding E-way Bill made during meeting of the GST Council Recommendations made during the 26th meeting of the GST Council held in New Delhi Today 26th Meeting of the GST Council meets & decides Extension of tax exemptions for exporters for six months GST Council meeting as on 18-1-2018 Press Release / FM's media briefing Policy Changes recommended by the 25th GST Council Meeting Recommendations for Chang
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Charge etc. GST Council meeting as on 9-9-2017 GST on certain services to be reduced from 18% to 12% and clarification relating to supply of services (satellite launch services) CHANGES in RATE ON CERTAIN GOODS and Revised Date Chart for GST Returns for the Month of July 2017 GST council meeting as on 6-8-2017 Decisions in regard to Services taken by the GST Council GST Council meeting as on 30-6-2017 Decision to reduce Tax Rate on Fertilizers from existing 12% to 5 % under GST GST Council meeting as on 18-6-2017 GST rates on Certain Services and GST rates on supply of lottery COMPOSITION LEVY AND GST RATE ON CERTAIN GOODS GST council meeting as on 11-6-2017 REVISED THRESHOLD LIMIT FOR COMPOSITION LEVY IGST Exemption under GST REVISED GST R
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Goods and Services Tax – GST – Dated:- 20-5-2017 – Service Tax Exemptions to be continued in GST as decided by GST Council Sl. No. Services 1. Services by Government or a local authority excluding the following services- (i) services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Government; (ii) services in relation to an aircraft or a vessel, inside or outside the precincts of a port or an airport; (iii) transport of goods or passengers; or (iv) any service, other than services covered under clauses (i) to (iii) above, provided to business entities. 2. Services by the Reserve Bank of India 3. Services by a foreign diplomatic mission located in India 4. Services relating to cultivation of plants and rearing of all life forms of animals, except the rearing of horses, for food, fibre, fuel, raw material or other similar products or agricultural produce by way of- (i) agricultural operations direc
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stribution of electricity by an electricity transmission or distribution utility 7. Services by way of renting of residential dwelling for use as residence 8. Services by way of- (i) extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount (other than interest involved in credit card services); (ii) inter se sale or purchase of foreign currency amongst banks or authorised dealers of foreign exchange or amongst banks and such dealers; 9. Services by way of transportation of goods (i) by road except the services of- (a) a goods transportation agency; or (b) a courier agency; (ii) by inland waterways; 10. Services provided to the United Nations or a specified international organization. Exemption may be notified by way of issuing notification under section 55 of CGST/SGST Act. 11. Services provided by operators of the Common Bio-medical Waste Treatment Facility to a clinical establishment by way of treatment or disposal of bio-medi
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a business entity; or (iii) a business entity with a turnover up to rupees twenty lakh (ten lakh rupees in a special category state) in the preceding financial year; or (c) a senior advocate by way of legal services to- (i) any person other than a business entity; or (ii) a business entity up to rupees twenty lakh (ten lakh rupees in a special category state) in the preceding financial year; 16. Services provided,- (a) by an educational institution to its students, faculty and staff; (b) to an educational institution, by way of,- (i) transportation of students, faculty and staff; (ii) catering, including any mid-day meals scheme sponsored by the Government; (iii) security or cleaning or house-keeping services performed in such educational institution; (iv)services relating to admission to, or conduct of examination by, such institution; upto higher secondary. Provided that nothing contained in clause (b) of this entry shall apply to an educational institution other than an institution
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r (iii)theatre, if the consideration charged for such performance is not more than one lakh and fifty thousand rupees: Provided that the exemption shall not apply to service provided by such artist as a brand ambassador; 20. Services by way of collecting or providing news by an independent journalist, Press Trust of India or United News of India; 21. Services by way of giving on hire – (a) to a state transport undertaking, a motor vehicle meant to carry more than twelve passengers; or (b) to a goods transport agency, a means of transportation of goods; 22. Transport of passengers, with or without accompanied belongings, by – (a) air, embarking from or terminating in an airport located in the state of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, or Tripura or at Bagdogra located in West Bengal; (b) non-airconditioned contract carriage other than radio taxi, for transportation of passengers, excluding tourism, conducted tour, charter or hire; or (c) stage carr
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time being in force, to its own members by way of reimbursement of charges or share of contribution – as a trade union; for the provision of carrying out any activity which is exempt from the levy of GST; or up to an amount of five thousand rupees per month per member for sourcing of goods or services from a third person for the common use of its members in a housing society or a residential complex; 27. Services by an organiser to any person in respect of a business exhibition held outside India; 28. Services by way of slaughtering of animals; 29. Services received from a provider of service located in a non- taxable territory by – Government, a local authority, a governmental authority or an individual inrelation to any purpose other than commerce, industry or any other business or profession; an entity registered under section 12AA of the Income tax Act, 1961 (43 of 1961) for the purposes of providing charitable activities; or a person located in a non-taxable territory; Provided th
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Constitution. 35. Services received by the Reserve Bank of India, from outside India in relation to management of foreign exchange reserves; 36. Services provided by a tour operator to a foreign tourist in relation to a tour conducted wholly outside India. 37. Services by way of pre-conditioning, pre-cooling, ripening, waxing, retail packing, labelling of fruits and vegetables which do not change or alter the essential characteristics of the said fruits or vegetables; 38. Services by way of admission to a museum, national park, wildlife sanctuary, tiger reserve or zoo; 39. Services provided by Government or a local authority to a business entity with a turnover up to rupees twenty lakh (ten lakh rupees in a special category state) in the preceding financial year. Explanation.- For the purposes of this entry, it is hereby clarified that the provisions of this entry shall not be applicable to (a) services at S. No. 1 (i), (ii)and (iii); and (b) services by way of renting of immovable pr
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by Government or a local authority to another Government or local authority: Provided that nothing contained in this entry shall apply to services at S. No. 1 (i), (ii)and (iii) above 46. Services provided by Government or a local authority by way of issuance of passport, visa, driving licence, birth certificate or death certificate. 47. Services provided by Government or a local authority by way of tolerating non-performance of a contract for which consideration in the form of fines or liquidated damages is payable to the Government or the local authority under such contract; 48. Services provided by Government or a local authority by way of- (a) registration required under any law for the time being in force; (b) testing, calibration, safety check or certification relating to protection or safety of workers, consumers or public at large, including fire license, required under any law for the time being in force; 49. Services provided by Government or a local authority by way of assi
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ity to operate as a telecom service provider or use radiofrequency spectrum during the period prior to 1st April, 2016, on payment of licence fee or spectrum user charges, as the case may be; 53. Services provided by Government by way of deputing officers after office hours or on holidays for inspection or container stuffing or such other duties in relation to import export cargo on payment of Merchant Overtime charges (MOT). 54. Services by an acquiring bank, to any person in relation to settlement of an amount upto two thousand rupees in a single transaction transacted through credit card, debit card, charge card or other payment card service. Explanation. – For the purposes of this entry, acquiring bank means any banking company, financial institution including non-banking financial company or any other person, who makes the payment to any person who accepts such card 55. Services of leasing of assets (rolling stock assets including wagons, coaches, locos) by Indian Railways Finance
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gs to industrial units by way of granting long term (thirty years, or more) lease of industrial plots from so much of tax leviable thereon, as is leviable on the one time upfront amount (called as premium, salami, cost, price, development charges or by any other name) payable for such lease. 59. Services provided to the government by way of transport of passengers with or without accompanied belongings, by air, embarking from or terminating at a regional connectivity scheme airport, against consideration in the form of viability gap funding (VGF). Provided that nothing contained in this entry shall apply on or after the expiry of a period of 1 year from the date of commencement of operations of the regional connectivity scheme airport as notified by the Ministry of Civil Aviation 60. Services provided by cord blood banks by way of preservation of stem cells or any other service in relation to such preservation; 61. Services by way of training or coaching in recreational activities rela
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tiative (SDI) Scheme 64. Services provided by training providers (Project implementation agencies) under Deen Dayal Upadhyaya Grameen Kaushalya Yojana under the Ministry of Rural Development by way of offering skill or vocational training courses certified by National Council For Vocational Training. 65. Services by way of sponsorship of sporting events organised,- by a national sports federation, or its affiliated federations, where the participating teams or individuals represent any district, State, zone or Country; by Association of Indian Universities, Inter-University Sports Board, School Games Federation of India, All India Sports Council for the Deaf, Paralympic Committee of India or Special Olympics Bharat; by Central Civil Services Cultural and Sports Board; as part of national games, by Indian Olympic Association; or under Panchayat Yuva Kreeda Aur Khel Abhiyaan (PYKKA) Scheme; 66. Services provided by way of pure labour contracts of construction, erection, commissioning, in
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Modified National Agricultural Insurance Scheme, approved by the Government of India and implemented by the Ministry of Agriculture; (i)Jan Arogya Bima Policy; National Agricultural Insurance Scheme (Rashtriya Krishi Bima Yojana); Pilot Scheme on Seed Crop Insurance; Central Sector Scheme on Cattle Insurance; Universal Health Insurance Scheme; Rashtriya Swasthya Bima Yojana; or Coconut Palm Insurance Scheme; Pradhan Mantri Suraksha BimaYojna; Niramaya Health Insurance Scheme implemented by Trust constituted under the provisions of the National Trust for the Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999 (44 of 1999); or Any other insurance scheme of the State Government as may be notified by Government of India on the recommendation of GSTC. 69. Services of life insurance business provided under following schemes – Janashree Bima Yojana (JBY); or Aam Aadmi Bima Yojana (AABY); Life micro-insurance product as approved by the Insura
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enting of precincts of a religious place meant for general public, owned or managed by an entity registered as a charitable or religious trust under section 12AA of the Income-tax Act, 1961 (hereinafter referred to as the Income-tax Act), or a trust or an institution registered under sub clause (v) of clause (23C) of section 10 of the Income-tax Act or a body or an authority covered under clause (23BBA) of section 10 of the Income-tax Act: Provided that nothing contained in (b) of this exemption shall apply to,- renting of rooms where charges are ₹ 1000/- or more per day; renting of premises, community halls, kalyanmandapam or open area, etc where charges are ₹ 10,000/- or more per day; renting of shops or other spaces for business or commerce where charges are ₹ 10,000/-or more per month. 74. Services by a hotel, inn, guest house, club or campsite, by whatever name called, for residential or lodging purposes, having declared tariff of a unit of accommodation less tha
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c manure; newspaper or magazines registered with the Registrar of Newspapers; relief materials meant for victims of natural or man-made disasters, calamities, accidents or mishap; or(h) defence or military equipment s; 77. Services by the following persons in respective capacities – business facilitator or a business correspondent to a banking company with respect to accounts in its rural area branch; any person as an intermediary to a business facilitator or a business correspondent with respect to services mentioned in clause (g); or business facilitator or a business correspondent to an insurance company in a rural area; 78. Carrying out an intermediate production process as job work in relation to cultivation of plants and rearing of all life forms of animals, except the rearing of horses, for food, fibre, fuel, raw material or other similar products or agricultural produce; 79. Services by way of loading, unloading, packing, storage or warehousing of rice; 80. Services by way of r
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Goods and Services Tax – GST – Dated:- 20-5-2017 – The fitment of rates of services were discussed on 19 May 2017 during the 14th GST Council meeting held at Srinagar, Jammu & Kashmir. The Council has broadly approved the GST rates for services at Nil, 5%, 12%, 18% and 28% as listed below. The information is being uploaded immediately after the GST Council s decision and it will be subject to further vetting during which the list may undergo some changes. The decisions of the GST Council are being communicated for general information and will be given effect to through gazette notifications which shall have force of law. Download PDF file Sl. No. DESCRIPTION OF SERVICES GST RATE 1. Transport of goods by rail 5% with ITC of input services 2. Transport of passengers by rail (other than sleeper class) 5% with ITC of input services 3. Services of goods transport agency (GTA) in relation to transportation of goods [other than used household goods for personal use] 5% No ITC 4. Services
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ts under Schedule II [5 (f)] by a scheduled airlines for scheduled operations 5% with ITC of input services 12. Selling of space for advertisement in print media 5% With Full ITC 13. Services by way of job work in relation to printing of newspapers; 5% With Full ITC 14. Transport of goods in containers by rail by any person other than Indian Railways 12% With Full ITC 15. Transport of passengers by air in other than economy class 12% With Full ITC 16. Supply of Food/drinks in restaurant not having facility of air-conditioning or central heating at any time during the year and not having licence to serve liquor. 12% With Full ITC 17. Renting of hotels, inns, guest houses, clubs, campsites or other commercial places meant for residential or lodging purposes having room tariff ₹ 1000 and above but less than ₹ 2500 per room per day 12% With Full ITC 18. Services provided by foreman of chit fund in relation to chit 12% with ITC of input services 19. Construction of a complex, bu
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f human consumption or any drink, in a premises (including hotel, convention center, club, pandal, shamiana or any other place, specially arranged for organizing a function) together with renting of such premises 18% With Full ITC 26. Services by way of admission or access to circus, Indian classical dance including folk dance, theatrical performance, drama 18% With Full ITC 27. Composite supply of Works contract as defined in clause 119 of section 2 of CGST Act 18% With Full ITC 28. Services by way of admission to entertainment events or access to amusement facilities including exhibition of cinematograph films, theme parks, water parks, joy rides, merry-go rounds, go-carting, casinos, race-course, ballet, any sporting event such as IPL and the like; 28% With Full ITC 29. Services provided by a race club by way of totalisator or a licensed bookmaker in such club; 28% With Full ITC 30. Gambling; 28% With Full ITC 31. Supply of Food/drinks in air-conditioned restaurant in 5-star or abov
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nsation cess as on supply of similar goods 35. Supply consisting of transfer of title in goods under an agreement which stipulates that property in goods shall pass at a future date upon payment of full consideration as agreed (supply of goods): value of leasing services shall be included in the value of goods supplied. GST and compensation cess as on supply of similar goods 36. All other services not specified elsewhere 18% With Full ITC Service Tax Exemptions to be continued in GST as decided by GST Council Sl. No. Services 1. Services by Government or a local authority excluding the following services- (i) services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Government; (ii) services in relation to an aircraft or a vessel, inside or outside the precincts of a port or an airport; (iii) transport of goods or passengers; or (iv) any service, other than services covered under clauses (i) to (ii
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to its use; (v) loading, unloading, packing, storage or warehousing of agricultural produce; (vi) agricultural extension services; (vii) services by any Agricultural Produce Marketing Committee or Board or services provided by a commission agent for sale or purchase of agricultural produce. 5. Service by way of access to a road or a bridge on payment of toll charges 6. Transmission or distribution of electricity by an electricity transmission or distribution utility 7. Services by way of renting of residential dwelling for use as residence 8. Services by way of- (i) extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount (other than interest involved in credit card services); (ii) inter se sale or purchase of foreign currency amongst banks or authorised dealers of foreign exchange or amongst banks and such dealers; 9. Services by way of transportation of goods (i) by road except the services of- (a) a goods transportation agen
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business entity; or (ii) a business entity with a turnover up to rupees twenty lakh (ten lakh rupees in a special category state) in the preceding financial year; (b) a partnership firm of advocates or an individual as an advocate other than a senior advocate, by way of legal services to- (i) an advocate or partnership firm of advocates providing legal services; (ii) any person other than a business entity; or (iii) a business entity with a turnover up to rupees twenty lakh (ten lakh rupees in a special category state) in the preceding financial year; or (c) a senior advocate by way of legal services to- (i) any person other than a business entity; or (ii) a business entity up to rupees twenty lakh (ten lakh rupees in a special category state) in the preceding financial year; 16. Services provided,- (a) by an educational institution to its students, faculty and staff; (b) to an educational institution, by way of,- (i) transportation of students, faculty and staff; (ii) catering, includ
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ve year integrated programme in Management. 18. Services provided to a recognized sports body by- (a) an individual as a player, referee, umpire, coach or team manager for participation in a sporting event organized by a recognized sports body; (b) another recognised sports body; 19. Services by an artist by way of a performance in folk or classical art forms of (i) music, or (ii)dance, or (iii)theatre, if the consideration charged for such performance is not more than one lakh and fifty thousand rupees: Provided that the exemption shall not apply to service provided by such artist as a brand ambassador; 20. Services by way of collecting or providing news by an independent journalist, Press Trust of India or United News of India; 21. Services by way of giving on hire – (a) to a state transport undertaking, a motor vehicle meant to carry more than twelve passengers; or (b) to a goods transport agency, a means of transportation of goods; 22. Transport of passengers, with or without accom
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turnover of fifty lakh rupees in a financial year subject to the following conditions, namely:- (a) the total turnover had not exceeded fifty lakh rupees during the preceding financial year; and (b) a period of three years has not been elapsedfrom the date of enteringinto an agreement as an incubatee; 26. Service by an unincorporated body or a non- profit entity registered under any law for the time being in force, to its own members by way of reimbursement of charges or share of contribution – (a) as a trade union; (b) for the provision of carrying out any activity which is exempt from the levy of GST; or (c) up to an amount of five thousand rupees per month per member for sourcing of goods or services from a third person for the common use of its members in a housing society or a residential complex; 27. Services by an organiser to any person in respect of a business exhibition held outside India; 28. Services by way of slaughtering of animals; 29. Services received from a provider
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ct, 1948 (34 of 1948); 32. Services by way of transfer of a going concern, as a whole or an independent part thereof; 33. Services by way of public conveniences such as provision of facilities of bathroom, washrooms, lavatories, urinal or toilets; 34. Services by government, local authority or governmental authority by way of any activity in relation to any function entrusted to a municipality under Article 243 W of the Constitution. 35. Services received by the Reserve Bank of India, from outside India in relation to management of foreign exchange reserves; 36. Services provided by a tour operator to a foreign tourist in relation to a tour conducted wholly outside India. 37. Services by way of pre-conditioning, pre-cooling, ripening, waxing, retail packing, labelling of fruits and vegetables which do not change or alter the essential characteristics of the said fruits or vegetables; 38. Services by way of admission to a museum, national park, wildlife sanctuary, tiger reserve or zoo;
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securities and to promote the development of, and to regulate, the securities market; 43. Services provided by National Centre for Cold Chain Development under Ministry of Agriculture, Cooperation and Farmer s Welfare by way of cold chain knowledge dissemination; 44. Services by way of transportation of goods by an aircraft from a place outside India upto the customs station of clearance in India. 45. Services provided by Government or a local authority to another Government or local authority: Provided that nothing contained in this entry shall apply to services at S. No. 1 (i), (ii)and (iii) above 46. Services provided by Government or a local authority by way of issuance of passport, visa, driving licence, birth certificate or death certificate. 47. Services provided by Government or a local authority by way of tolerating non-performance of a contract for which consideration in the form of fines or liquidated damages is payable to the Government or the local authority under such co
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ent of right to use any natural resource where such right to use was assigned by the Government or the local authority before the 1st April, 2016: Provided that the exemption shall apply only to service tax payable on one time charge payable, in full upfront or in installments, for assignment of right to use such natural resource; 52. Services provided by Government or a local authority by way of allowing a business entity to operate as a telecom service provider or use radiofrequency spectrum during the period prior to 1st April, 2016, on payment of licence fee or spectrum user charges, as the case may be; 53. Services provided by Government by way of deputing officers after office hours or on holidays for inspection or container stuffing or such other duties in relation to import export cargo on payment of Merchant Overtime charges (MOT). 54. Services by an acquiring bank, to any person in relation to settlement of an amount upto two thousand rupees in a single transaction transacted
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preneurship Park (STEP) recognized by the National Science and Technology Entrepreneurship Development Board (NSTEDB) of the Department of Science and Technology, Government of India or bio-incubators recognized by the Biotechnology Industry Research Assistance Council, under Department of Biotechnology, Government of India; 58. Taxable service provided by State Government Industrial Development Corporations/ Undertakings to industrial units by way of granting long term (thirty years, or more) lease of industrial plots from so much of tax leviable thereon, as is leviable on the one time upfront amount (called as premium, salami, cost, price, development charges or by any other name) payable for such lease. 59. Services provided to the government by way of transport of passengers with or without accompanied belongings, by air, embarking from or terminating at a regional connectivity scheme airport, against consideration in the form of viability gap funding (VGF). Provided that nothing c
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velopment Programme implemented by the National Skill Development Corporation; or (ii) a vocational skill development course under the National Skill Certification and Monetary Reward Scheme; or (iii) any other Scheme implemented by the National Skill Development Corporation. 63. Services of assessing bodies empanelled centrally by Directorate General of Training, Ministry of Skill Development and Entrepreneurship by way of assessments under Skill Development Initiative (SDI) Scheme 64. Services provided by training providers (Project implementation agencies) under Deen Dayal Upadhyaya Grameen Kaushalya Yojana under the Ministry of Rural Development by way of offering skill or vocational training courses certified by National Council For Vocational Training. 65. Services by way of sponsorship of sporting events organised,- (a) by a national sports federation, or its affiliated federations, where the participating teams or individuals represent any district, State, zone or Country; (b)
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of general insurance business provided under following schemes – (a) Hut Insurance Scheme; (b) Cattle Insurance under Swarnajaynti Gram Swarozgar Yojna (earlier known as Integrated Rural Development Programme); (c) Scheme for Insurance of Tribals; (d) Janata Personal Accident Policy and Gramin Accident Policy; (e) Group Personal Accident Policy for Self-Employed Women; (f) Agricultural Pumpset and Failed Well Insurance; (g) Premia collected on export credit insurance; (h) Weather Based Crop Insurance Scheme or the Modified National Agricultural Insurance Scheme, approved by the Government of India and implemented by the Ministry of Agriculture; (i) Jan Arogya Bima Policy; (j) National Agricultural Insurance Scheme (Rashtriya Krishi Bima Yojana); (k) Pilot Scheme on Seed Crop Insurance; (l) Central Sector Scheme on Cattle Insurance; (m) Universal Health Insurance Scheme; (n) Rashtriya Swasthya Bima Yojana; or (o) Coconut Palm Insurance Scheme; (p) Pradhan Mantri Suraksha BimaYojna; (q)
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under Atal Pension Yojana (APY). 71. Services by way of collection of contribution under any pension scheme of the State Governments. 72. Service of transportation of passengers, with or without accompanied belongings, by- (i) railways in a class other than- (A) first class; or (B) an air-conditioned coach; (ii) metro, monorail or tramway; (iii) inland waterways; (iv) public transport, other than predominantly for tourism purpose, in a vessel between places located in India; and (v) metered cabs or auto rickshaws (including E-rickshaws); 73. Services by a person by way of- (a) conduct of any religious ceremony; (b) renting of precincts of a religious place meant for general public, owned or managed by an entity registered as a charitable or religious trust under section 12AA of the Income-tax Act, 1961 (hereinafter referred to as the Income-tax Act), or a trust or an institution registered under sub clause (v) of clause (23C) of section 10 of the Income-tax Act or a body or an authorit
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of Newspapers; (d) railway equipments or materials; (e) agricultural produce; (f) milk, salt and food grain including flours, pulses and rice; and (g) organic manure 76. Services provided by a goods transport agency, by way of transport in a goods carriage of,- (a) agricultural produce; (b) goods, where gross amount charged for the transportation of goods on a consignment transported in a single carriage does not exceed one thousand five hundred rupees; (c) goods, where gross amount charged for transportation of all such goods for a single consignee does not exceed rupees seven hundred fifty; (d) milk, salt and food grain including flour, pulses and rice; (e) organic manure; (f) newspaper or magazines registered with the Registrar of Newspapers; (g) relief materials meant for victims of natural or man-made disasters, calamities, accidents or mishap; or (h) defence or military equipment s; 77. Services by the following persons in respective capacities – (a) business facilitator or a bu
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₹ 250 per person in (i), (ii) and (iii) above. 81. Services provided by Government or a local authority where the gross amount charged for such services does not exceed ₹ 5000/. Provided that nothing contained in this entry shall apply to services S. No. 1 (i), (ii)and (iii) above: Provided further that in case where continuous supply of service, as defined in sub-section (33) of section2 of the CGST Act, 2017, is provided by the Government or a local authority, the exemption shall apply only where the gross amount charged for such service does not exceed ₹ 5000/- in a financial year; [This may be continued by way of an omnibus threshold exemption from payment of GST under section 9 (4) of CGST/SGST Act in respect of supplies upto ₹ 10,000/-]. 82. (i) Health care services by a clinical establishment, an authorised medical practitioner or para-medics; (ii) Services provided by way of transportation of a patient in an ambulance, other than those specified in (i) a
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