Goods and Services Tax

Section 2 – GST – States – PRELIMINARY – Rajasthan Goods and Services Tax Act, 2017 – Act-Rules – Definitions. 02. In this Act, unless the context otherwise requires,- (1) actionable claim shall have the same meaning as assigned to it in section 3 of the Transfer of Property Act, 1882 (Central Act No. 4 of 1882) ; (2) address of delivery means the address of the recipient of goods or services or both indicated on the tax invoice issued by a registered person for delivery of such goods or services or both; (3) address on record means the address of the recipient as available in the records of the supplier; (4) adjudicating authority means any authority, appointed or authorised to pass any order or decision under this Act, but does not include the Commissioner, Revisional Authority, the Authority for Advance Ruling, the Appellate Authority for Advance Ruling, the Appellate Authority and the Appellate Tribunal; (5) agent means a person, including a factor

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Authority means an authority appointed or authorised to hear appeals as referred to in section 107; (9) Appellate Tribunal means the Goods and Services Tax Appellate Tribunal referred to in section 109; (10) appointed day means the date on which the provisions of this Act shall come into force; (11) assessment means determination of tax liability under this Act and includes self-assessment, re-assessment, provisional assessment, summary assessment and best judgment assessment; (12) associated enterprises shall have the same meaning as assigned to it in section 92A of the Income-tax Act, 1961 (Central Act No. 43 of 1961); (13) audit means the examination of records, returns and other documents maintained or furnished by the registered person under this Act or the rules made thereunder or under any other law for the time being in force to verify the correctness of turnover declared, taxes paid, refund claimed and input tax credit availed, and to assess his comp

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s in connection with commencement or closure of business; (e) provision by a club, association, society, or any such body (for a subscription or any other consideration) of the facilities or benefits to its members; (f) admission, for a consideration, of persons to any premises; (g) services supplied by a person as the holder of an office which has been accepted by him in the course or furtherance of his trade, profession or vocation; (h) services provided by a race club by way of totalisator or a licence to book maker in such club; and (i) any activity or transaction undertaken by the Central Government, a State Government or any local authority in which they are engaged as public authorities; (18) business vertical means a distinguishable component of an enterprise that is engaged in the supply of individual goods or services or a group of related goods or services which is subject to risks and returns that are different from those of the other business

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ere he has no fixed place of business; (21) central tax means the central goods and services tax levied under section 9 of the Central Goods and Services Tax Act; (22) cess shall have the same meaning as assigned to it in the Goods and Services Tax (Compensation to States) Act; (23) chartered accountant means a chartered accountant as defined in clause (b) of sub-section (1) of section 2 of the Chartered Accountants Act, 1949 (Central Act No. 38 of 1949); (24) Commissioner means the Commissioner of State tax appointed under section 3 and includes the Principal Commissioner or Chief Commissioner of State tax appointed under section 3; (25) Commissioner in the Board means the Commissioner referred to in section 168 of the Central Goods and Services Tax Act; (26) common portal means the common goods and services tax electronic portal referred to in section 146; (27) common working days shall mean such days in succession which are not declared as gazetted

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ther in money or otherwise, in respect of, in response to, or for the inducement of, the supply of goods or services or both, whether by the recipient or by any other person but shall not include any subsidy given by the Central Government or a State Government; (b) the monetary value of any act or forbearance, in respect of, in response to, or for the inducement of, the supply of goods or services or both, whether by the recipient or by any other person but shall not include any subsidy given by the Central Government or a State Government: Provided that a deposit given in respect of the supply of goods or services or both shall not be considered as payment made for such supply unless the supplier applies such deposit as consideration for the said supply; (32) continuous supply of goods means a supply of goods which is provided, or agreed to be provided, continuously or on recurrent basis, under a contract, whether or not by means of a wire, cable, pipeline or other co

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under sub-section (1) of section 34; (38) debit note means a document issued by a registered person under sub-section (3) of section 34; (39) deemed exports means such supplies of goods as may be notified under section 147; (40) designated authority means such authority as may be notified by the Commissioner; (41) document includes written or printed record of any sort and electronic record as defined in clause (t) of section 2 of the Information Technology Act, 2000 (Central Act No. 21 of 2000); (42) drawback in relation to any goods manufactured in India and exported, means the rebate of duty, tax or cess chargeable on any imported inputs or on any domestic inputs or input services used in the manufacture of such goods; (43) electronic cash ledger means the electronic cash ledger referred to in sub-section (1) of section 49; (44) electronic commerce means the supply of goods or services or both, including digital products over digital or electronic

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the person if they are wholly or mainly dependent on the said person; (50) fixed establishment means a place (other than the registered place of business) which is characterised by a sufficient degree of permanence and suitable structure in terms of human and technical resources to supply services, or to receive and use services for its own needs; (51) Fund means the Consumer Welfare Fund established under section 57; (52) goods‟‟ means every kind of movable property other than money and securities but includes actionable claim, growing crops, grass and things attached to or forming part of the land which are agreed to be severed before supply or under a contract of supply; (53) Government means the Government of Rajasthan; (54) Goods and Services Tax (Compensation to States) Act means the Goods and Services Tax (Compensation to States) Act, 2017(Central Act No. 15 of 2017) ; (55) goods and services tax practitioner means any person who has bee

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furtherance of business; (61) Input Service Distributor means an office of the supplier of goods or services or both which receives tax invoices issued under section 31 towards the receipt of input services and issues a prescribed document for the purposes of distributing the credit of central tax, State tax, integrated tax or Union territory tax paid on the said services to a supplier of taxable goods or services or both having the same Permanent Account Number as that of the said office; (62) input tax in relation to a registered person, means the central tax, State tax, integrated tax or Union territory tax charged on any supply of goods or services or both made to him and includes- (a) the integrated goods and services tax charged on import of goods; (b) the tax payable under the provisions of sub-sections (3) and (4) of section 9; (c) the tax payable under the provisions of sub-sections (3) and (4) of section 5 of the Integrated Goods and Services Tax Act;

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69) local authority means- (a) a Panchayat as defined in clause (d) of article 243 of the Constitution; (b) a Municipality as defined in clause (e) of article 243P of the Constitution; (c) a Municipal Committee, a Zilla Parishad, a District Board, and any other authority legally entitled to, or entrusted by the Central Government or any State Government with the control or management of a municipal or local fund; (d) a Cantonment Board as defined in section 3 of the Cantonments Act, 2006 (Central Act No. 41 of 2006); (e) a Regional Council or a District Council constituted under the Sixth Schedule to the Constitution; (f) a Development Board constituted under article 371 of the Constitution; or (g) a Regional Council constituted under article 371A of the Constitution; (70) location of the recipient of services means,- (a) where a supply is received at a place of business for which the registration has been obtained, the location of such

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the place of business or fixed establishment, the location of the establishment most directly concerned with the provisions of the supply; and (d) in absence of such places, the location of the usual place of residence of the supplier; (72) manufacture means processing of raw material or inputs in any manner that results in emergence of a new product having a distinct name, character and use and the term manufacturer shall be construed accordingly; (73) market value shall mean the full amount which a recipient of a supply is required to pay in order to obtain the goods or services or both of like kind and quality at or about the same time and at the same commercial level where the recipient and the supplier are not related; (74) mixed supply means two or more individual supplies of goods or services, or any combination thereof, made in conjunction with each other by a taxable person for a single price where such supply does not constitute a composite supply.

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person means any person who occasionally undertakes transactions involving supply of goods or services or both, whether as principal or agent or in any other capacity, but who has no fixed place of business or residence in India; (78) non-taxable supply‟‟ means a supply of goods or services or both which is not leviable to tax under this Act or under the Integrated Goods and Services Tax Act; (79) non-taxable territory means the territory which is outside the taxable territory; (80) notification means a notification published in the Official Gazette and the expressions notify‟ and notified‟ shall be construed accordingly; (81) other territory includes territories other than those comprising in a State and those referred to in sub-clauses (a) to (e) of clause (114); (82) output tax in relation to a taxable person, means the tax chargeable under this Act on taxable supply of goods or services or both made by him or by his agent but exclu

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ieties; (j) a local authority; (k) Central Government or a State Government; (l) society as defined under the Societies Registration Act, 1860 (Central Act No. 21 of 1860); (m) trust; and (n) every artificial juridical person, not falling within any of the above; (85) place of business includes- (a) a place from where the business is ordinarily carried on, and includes a warehouse, a godown or any other place where a taxable person stores his goods, supplies or receives goods or services or both; or (b) a place where a taxable person maintains his books of account; or (c) a place where a taxable person is engaged in business through an agent, by whatever name called; (86) place of supply means the place of supply as referred to in Chapter V of the Integrated Goods and Services Tax Act; (87) prescribed‟‟ means prescribed by rules made under this Act on the recommendations of the Council; (88) principal means a perso

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y that consideration; (b) where no consideration is payable for the supply of goods, the person to whom the goods are delivered or made available, or to whom possession or use of the goods is given or made available; and (c) where no consideration is payable for the supply of a service, the person to whom the service is rendered, and any reference to a person to whom a supply is made shall be construed as a reference to the recipient of the supply and shall include an agent acting as such on behalf of the recipient in relation to the goods or services or both supplied; (94) registered person means a person who is registered under section 25 but does not include a person having a Unique Identity Number; (95) regulations means the regulations made by the Government under this Act on the recommendations of the Council; (96) removal‟‟ in relation to goods, means- (a) despatch of the goods for delivery by the supplier thereof or by any other perso

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1956); (102) services means anything other than goods, money and securities but includes activities relating to the use of money or its conversion by cash or by any other mode, from one form, currency or denomination, to another form, currency or denomination for which a separate consideration is charged; (103) State means the State of Rajasthan; (104) State tax means the tax levied under this Act; (105) supplier in relation to any goods or services or both, shall mean the person supplying the said goods or services or both and shall include an agent acting as such on behalf of such supplier in relation to the goods or services or both supplied; (106) tax period‟‟ means the period for which the return is required to be furnished; (107) taxable person means a person who is registered or liable to be registered under section 22 or section 24; (108) taxable supply‟‟ means a supply of goods or services or both which is leviable to t

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ces or both and inter-State supplies of goods or services or both made from the State or Union territory by the said taxable person but excludes Central tax, State tax, Union territory tax, integrated tax and cess; (113) usual place of residence means- (a) in case of an individual, the place where he ordinarily resides; (b) in other cases, the place where the person is incorporated or otherwise legally constituted; (114) Union territory means the territory of- (a) the Andaman and Nicobar Islands; (b) Lakshadweep; (c) Dadra and Nagar Haveli; (d) Daman and Diu; (e) Chandigarh; and (f) other territory; Explanation .- For the purposes of this Act, each of the territories specified in sub-clauses (a) to (f) shall be considered to be a separate Union territory; (115) Union territory tax means the Union territory goods and services tax levied under the Union Territory Goods and Services Tax Act; (116) Union Territory Goods and S

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Section 1 – GST – States – PRELIMINARY – Rajasthan Goods and Services Tax Act, 2017 – Act-Rules – LAW (LEGISLATIVE DRAFTING) DEPARTMENT (GROUP-II) NOTIFICATION Jaipur, April 28, 2017 No. F. 2 (34) Vidhi/2/2017.- In pursuance of Clause (3) of Article 348 of the Constitution of India, the Governor is pleased to authorise the publication in the Rajasthan Gazette of the following translation in the English language of Maal aur Seva Kar Adhiniyam, 2017 (2017 ka Adhiniyam Shankhyank 9) :- (Authorised English Translation) THE RAJASTHAN GOODS AND SERVICES TAX ACT,2017 (Act No. 9 of 2017) (Received the assent of the Governor on the 28th day of April 2017) An Act to make a provision for levy and collecti

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Goods and Services Tax – GST – By: – Pradeep Jain – Dated:- 11-5-2017 – The revised IGST Law has provided separate provisions for determination of place of supply in case of intra state trade/inter-state trade and that in case of import/export of goods. The provisions regarding determination of place of supply of goods other than supply of goods imported into or exported from India are the same as proposed in the erstwhile IGST Law and are not repeated. The revised IGST Law has inserted a new section 8 for place of supply of goods imported into India or exported from India which provides that:- The place of supply of goods imported into India shall be the location of the importer. The place of supply of goods exported from India shall be t

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e rule is general rule and the specific provisions have been made for specific nature of services. We will discuss section 9(4) of the IGST Act, 2016 in the present update. The section 9(4) states that place of supply of services in case of following shall be the location of immovable property, boat or vessel:- Services directly in relation to immovable property including services of architects, interior decorator, surveyors, engineers or renting of immovable property, Services of providing accommodation in hotel, inn, guest house, club or campsite, by whatever name called, and including house boat or any other vessel, Services by way of accommodation in any immovable property for organizing any marriage or function, Any other ancillary ser

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Goods and Services Tax – Started By: – satbir singh wahi – Dated:- 10-5-2017 Last Replied Date:- 11-5-2017 – SirPlease guide the Gst provisions for Dyeing unit , which receives cloth form party for dyeing job work,and returns the same after dyeing and processing.Presently registered under Vat and paying Vat on 60 % of invoice value. – Reply By MARIAPPAN GOVINDARAJAN – The Reply = Whether you have got the provisinal ID for migration? – Reply By Himansu Sha – The Reply = Job work provisions are c

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Goods and Services Tax – GST – Dated:- 10-5-2017 – Gandhinagar, May 9 (PTI) The Gujarat assembly passed the state Goods and Services Tax (GST) Bill unanimously during a day-long special session here today. The state assembly also passed two other related Bills. The Parliament on April 6 had passed four legislations to pave the way for nation-wide roll-out of the GST from July 1. During the day-long session here, the assembly has passed the Gujarat GST Bill, the Gujarat Value Added Tax (Amendment) Bill and the Gujarat Local Authorities Laws (Amendment) Bill. Both the ruling BJP and opposition Congress legislators held a lengthy debate over the bill before passing it with a voice vote along with the two other related legislations. In his ope

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ed that the state BJP dispensation is now making a u turn on this issue. Earlier, the BJP government here had opposed the GST, claiming that it will make a dent in Gujarat's tax revenues. After the BJP came to power at the Centre, you made a u turn and started favouring the GST, said Gohil. Replying to Congress leaders, Gujarat Deputy Chief Minister Nitin Patel said the delay was caused because the UPA regime failed to win trust of all the parties on the GST implementation. The GST got delayed because the UPA government had failed to convince even their allies, such as the Left parties at that time. It was (Prime Minister) Narendra Modi who brought everyone together and won their trust said Patel, who handles the Finance portfolio among

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Goods and Services Tax – GST – Dated:- 10-5-2017 – New Delhi, May 9 (PTI) The process to enrol taxpayers on the Goods and Services Tax Network (GSTN) portal, which was suspended on April 30, will start again in a few weeks, the revenue department said today. More than 60 lakh taxpayers enrolled on the GST portal between November 8, 2016 and April 30, 2017. The enrolment process closed with effect from May 1 and the data of all those signed the enrolment form would be migrated to the new GST sys

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Goods and Services Tax – Started By: – Swapneswar muduli – Dated:- 10-5-2017 Last Replied Date:- 10-5-2017 – Dear Sir,One who doing job in Company if he want to enrollment as a GST Practitioner than he can enrollment or is there restriction for the same? – Reply By MUKUND THAKKAR – The Reply = please check code of conduct of company where person is doing the job. I think no company is allowing any employee. there is no restriction as per GST. – Reply By KASTURI SETHI – The Reply = Dear Querist, I think the present rules will be carried forward. As per Rule 12 of Central Excise (Appeals), 2001 12. Qualifications for authorized representatives.- For the purposes of clause (c) of sub-section (2) of section 35Q of the Act, an authorized repres

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Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 10-5-2017 – Scope of supply Section 7 of the Central Goods and Services Tax Act, 2017 ( Act for short) provides the scope of supply . Section 7(1) provides that for the purposes of this Act, the expression supply includes- all forms of supply of goods or services or such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business; import of services for a consideration whether or not in the course or furtherance of business; the activities specified in Schedule I, made or agreed to be made without a consideration; and the activities to be treated as supply of goods or supply of services referred to in Schedule II. Consideration Section 2(d) of the Contract Act, 1872 defines contract as when at the desire of the promissory, the promise or any other person has done or abstained from doing or does or abstains fro

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he Act defines the term consideration in relation to the supply of goods or services or both includes- any payment made or to be made, whether in money or otherwise, in respect of, in response to, or for the inducement of, the supply of goods or services or both, whether by the recipient or by any other person but shall not include any subsidy given by the Central Government or a State Government; the monetary value of any act or forbearance, in respect of, in response to, or for the inducement of, the supply of goods or services or both, whether by the recipient or by any other person but shall not include any subsidy given by the Central Government or a State Government; The proviso to this section provides that a deposit given in respect of supply of the goods or services or both shall not be considered as payment made for such supply unless the supplier applies such deposit as consideration for the said supply. Schedule I Schedule I to the Act provides the activities that are to be

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s assets, if input tax credit has been availed on such assets, through, such transactions are made without consideration, it would amount to supply . Transfer of business assets- where goods forming part of the assets of a business are transferred or disposed of by or under the directions of the person carrying on the business so as no longer to form part of those assets, whether or not for a consideration, such transfer or disposal is a supply of goods by the person; where, by or under the direction or a person carrying on a business, goods held or used for the purposes of the business are put to any private use or are used, or made available to any person for use, for any purpose other than a purpose of the business, whether or not for a consideration, the usage or making available or such goods is a supply; Supply between related persons Since the expression related person finds in two places in the schedule I we have to refer the definition of related person . Section 2(84) defines

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in business; such persons are employer and employee; any person directly or indirectly owns, controls or holds 25% or more of the outstanding voting stock or shares of both of them; one of them directly or indirectly controls the other; both of them are directly or indirectly controlled by a third person; together they director indirectly control a third person; or they are members of the same family. -the term person also includes legal person; -persons who are associated in the business of one another in that one is the sole agent or sole distributor or sole concessionaire, howsoever described, of the other, shall be deemed to be related. The supply of goods or services or both taken between the related person as aforesaid shall be treated as supply even the supply is made without consideration. Supply between distinct persons Section 25 of the Act deals with the procedure of registration by a taxable person. If a taxable person has business more than one State, then he is required t

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ness the contract between the principal and agent is common. The agent is working on behalf of the principal is entitled to commission as per agreement. He may act on behalf of the principal and even business decisions can be taken by him. Such transactions between principal and agent will not be under consideration. Schedule I provides that supply of goods by a principal to his agent where the agent undertakes to supply such goods on behalf of the principal or by an agent to his principal where the agent undertakes to receive such goods on behalf of the principal. Import from a related person Clause 4 of the Schedule I provides that import of services by a taxable person from a related person or from any of his other establishments outside India, in the course or furtherance of business is considered as supply even though it is not for consideration. The term related person is discussed above is also applicable to this clause. The transactions between the branches or establishments of

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Goods and Services Tax – GST – By: – Pradeep Jain – Dated:- 10-5-2017 Last Replied Date:- 11-5-2017 – The new provision reads as follows: (1) Every registered taxable person shall, subject to such conditions and restrictions as may be prescribed and within the time and manner specified in section 44, be entitled to take credit of input tax charged on any supply of goods or services to him which are used or intended to be used in the course or furtherance of his business and the said amount shall be credited to the electronic credit ledger of such person: PROVIDED that credit of input tax in respect of pipelines and telecommunication tower fixed to earth by foundation or structural support including foundation and structural support thereto shall not exceed- (a) one-third of the total input tax in the financial year in which the said goods are received, (b) two-third of the total input tax, including the credit availed in the first financial year, in the financial year immediately succ

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l be entitled to take credit upon receipt of the last lot or installment: PROVIDED FURTHER that where a recipient fails to pay to the supplier of services, the amount towards the value of supply of services along with tax payable thereon within a period of three months from the date of issue of invoice by the supplier, an amount equal to the input tax credit availed by the recipient shall be added to his output tax liability, along with interest thereon, in the manner as may be prescribed. Explanation.-For the purpose of clause (b), it shall be deemed that the taxable person has received the goods where the goods are delivered by the supplier to a recipient or any other person on the direction of such taxable person, whether acting as an agent or otherwise, before or during movement of goods, either by way of transfer of documents of title to goods or otherwise. (3) Where the registered taxable person has claimed depreciation on the tax component of the cost of capital goods under the

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end of second financial year. Person supplying goods and services , where tax is payable under reverse charge is not eligible for input tax credit, which is in line with service tax provisions ITC not available on the basis of supplementary invoices since debit note is required to be issued in lieu of supplementary invoice. ITC needs to be reversed in case of non payment towards value of supply of services within three months of the invoice date, however at present there is no information which is captured for payment to the supplier in the various returns. Therefore format of return to be changed. This provision unjust enriching the Government. Last day of availing credit is 12 months from the date invoice (in accordance with section 18 ) or 30 September of subsequent year or date of filing annual return whichever is earlier. Visit us at www.capradeepjain.com and also at https://www.facebook.com/GSTTODAYBYPRADEEPJAIN/ – Reply By JAIPRAKASH RUIA – The Reply = Sir, New Provision under

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Export – Zero Rated supply – Whether amount received from the Foreign Currency (Non-Resident) account or Non-Resident External Account known as FCNR/NRE account maintained by the buyer can be treated as received in convertible foreign exchange for claiming benefit under GST – Dated:- 9-5-2017 – Section – 02 – Definitions. THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017 As per Regulation 4 of the FOREIGN EXCHANGE MANAGEMENT (MANNER OF RECEIPT AND PAYMENT) REGULATIONS, 2000, an exporter is permitt

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Dated:- 9-5-2017 – Section – 02 – Definitions. THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017 Yes, As per section 2(6) (iv) of the IGST Act, 2017 it is mandatory to receive the amount in convertible

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Dated:- 9-5-2017 – Section – 02 – Definitions. THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017 The term Export of services has been defined under section 2(6) of IGST Act, 2017 as under: (6) export of services means the supply of any service when,- (i) the supplier of service is located in India; (ii) the recipient of service is located outside India; (iii) the place of supply of service is outside India; (iv) the payment for such service has been received by the supplier of service in converti

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Dated:- 9-5-2017 – Section – 02 – Definitions. THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017 There is stipulation under the GST law for receipt of payment in convertible foreign exchange in case of

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What is the meaning of export of goods under GST – Dated:- 9-5-2017 – Section – 02 – Definitions. THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017 As per section 2(5) of the IGST Act, 2017, the meaning

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Dated:- 9-5-2017 – Section – 02 – Definitions. THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017 As per section 2(3) of the IGST Act, 2017, the meaning of continuous journey is: (3) continuous journey means a journey for which a single or more than one ticket or invoice is issued at the same time, either by a single supplier of service or through an agent acting on behalf of more than one supplier of service, and which involves no stopover between any of the legs of the journey for which one or m

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Dated:- 9-5-2017 – Section – 07 – Inter-State supply Section – 10 – Place of supply of goods other than supply of goods imported into, or exported from India. THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017 The term location of supplier of Goods has not been defined under the CGST Act 2017 or IGST Act 2017 respectively. Therefore, it may be taken that the location where located immediately before or at the time of supply and before the beginning of movement of goods shall be location of supplie

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Dated:- 9-5-2017 – Section – 002 – Definitions. THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 The definition regarding location location of the supplier of services has been given under Section 2 (71) of the CGST Act, 2017 as follows. (71) location of the supplier of services means,- (a) where a supply is made from a place of business for which the registration has been obtained, the location of such place of business; (b) where a supply is made from a place other than the place of business for which registration has been obtained (a fixed establishment elsewhere), the location of such fixed establishment; (c) where a supply is made from more than one establishment, whether the place of business or fixed establishment, the location of the e

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Dated:- 9-5-2017 – Section – 002 – Definitions. THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 The definition regarding location location of the recipient of services has been given under Clause (70) of the CGST Act, 2017 as follows. (70) location of the recipient of services means,- (a) where a supply is received at a place of business for which the registration has been obtained, the location of such place of business; (b) where a supply is received at a place other than the place of business for which registration has been obtained (a fixed establishment elsewhere), the location of such fixed establishment; (c) where a supply is received at more than one establishment, whether the place of business or fixed establishment, the location of

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Goods and Services Tax – Started By: – arun aggarwal – Dated:- 9-5-2017 Last Replied Date:- 10-5-2017 – SirI would be holding stocks which will be CST paid with no excise applicable, when GST comes in,I would like to know my status, can I take the input in GST of cst and.or I have to pay GST on balance stocks or have to pay GST at the time of sale?Arun – Reply By KASTURI SETHI – The Reply = One must not get tension in advance. Still rules are being framed. Wait for enactment of the same. – Repl

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Central Excise – Started By: – Rajan Rajan – Dated:- 8-5-2017 Last Replied Date:- 10-5-2017 – Wrongly Selected Not Migrating to GST at the time of filing April 2017 ER-1 return, instead of Enter your GST Username & Return Status shows Marked for Review. This may impact our GST Prov ID/ARN cancelled also Credit migration in GST regime. Please your valuable advice to rectify – Reply By KASTURI SETHI – The Reply = Already replied. – Reply By MARIAPPAN GOVINDARAJAN – The Reply = You may contact

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Goods and Services Tax – Started By: – K.Srinivasan Kuppuswamy – Dated:- 8-5-2017 Last Replied Date:- 9-5-2017 – Dear Experts The present rule permits the assesse to pay the service tax under reverse charge mechanism for Manpower supply/GTA and rent a cab service. In the GST also the same will be continued as reverse charge. whether the service providers such as Goods transport agency and manpower supply service providers and rent a cab service providers is mandatory to re

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Goods and Services Tax – GST – Dated:- 8-5-2017 – Tokyo, May 8 (PTI) The Goods and Services Tax (GST) is on schedule for implementation from July 1 and will not lead to any significant increase in prices of goods although cost of some services may see a marginal hike, Finance Minister Arun Jaitley said today. Hailed as the biggest tax reform since India's independence, GST will replace an array of central and state levies with a national sales tax, thereby creating a single market and making it easier to do business in the country. Addressing CII-Kotak investors' round table here, Jaitley said that the GST Council, headed by him and comprising representatives of all states, will in the next few days finalise the rates of tax for di

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ferent commodities and services in the decided tax brackets. Demerit and luxury goods will attract the peak tax rate plus a cess. Tax rate closed to the existing incidence of total central and state levies will be chosen as the slab for a good or services. As far as goods is concerned, the tax is not likely to increase at all. If at all, it may marginally come down because of the cascading impact not being there and therefore, it is not likely to be inflationary. As far as services is concerned, obviously, they will go up marginally and therefore, there will be some impact on this. So, goods and services may react a little differently, Jaitley said. Asked if GST would stoke inflation, he said: I don't anticipate this to happen significa

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be introduced in the country which itself would ease the very processes of doing business, he said. At the investors' meet, he said there would be no cascading impact of tax on tax under GST. GST being a more efficient tax, evasion will become difficult. In the current system, there is large evasion, he said. Jaitley said the constitutional amendment gives time till September 15 for introduction of GST but the target date has been kept at July 1. So, we have a cushion of two-and-a-half months but it looks like we will be able to begin on schedule, he said. Also, a simple IT network has been put in place and there is no multiple forms for filing tax returns, he said. GST would be a transformational system, he said, adding there could be

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Goods and Services Tax – GST – Dated:- 8-5-2017 – Vadodara, May 7 (PTI) Revenue Secretary Hasmukh Adhia is hopeful of a smooth transition to the GST regime and says it will help domestic firms to become more competitive apart from streamlining the taxation for all business activities. Unlike in other countries, the transition to the new tax regime would be smooth here because there are multiple points of taxation in the country. Hence, the possibility of sudden spurt in inflation is remote, said Adhia, who is spearheading the implementation of the Goods and Services Tax. He was speaking at a conference on GST organised by the Federation of Gujarat Industries and the chief commissioner, Central Excise, Customs & Service Tax, Vadodara zo

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Goods and Services Tax – GST – By: – Pradeep Jain – Dated:- 8-5-2017 Last Replied Date:- 9-5-2017 – GST DAILY DOSE OF UPDATION Changes in definition of inputs, capital goods and input services As evident from revised draft, the definitions of the input goods, capital goods and input services have undergone a major change or let s say, it has been simplified to the maximum extent possible. In the current laws, there are definitions containing specifications and restrictions to items and services on which cenvat can be taken or not. But in the new regime, these restrictions have been minimised. For eg. the definition of input is given in sec 2(52) as any goods other than capital goods used or intended to be used by a supplier in the course o

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st probable that they will fall as residuary items in the definition of inputs. Similarly it has been stated that goods or services received by a taxable person for construction of an immovable property on his own account, other than plant and machinery, even when used in course or furtherance of business won t be eligible for availing cenvat. But if the building is being capitalized then the inputs used in the building will be treated as capital goods and its cenvat should be allowed. – Reply By Sanketh Meri – The Reply = Dear Sir,In your Last Para, it has been mentioned that if the Immovable Property is capitalized, then its inputs should be allowed for ITC. Can you throw some more light on this. – Reply By Narhar Nimkar – The Reply = Dea

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Goods and Services Tax – GST – By: – Sanjeev Singhal – Dated:- 8-5-2017 Last Replied Date:- 9-5-2017 – Invoice is basic document for supply of goods or service. There are circumstances where Taxable Invoice need not be raised only Bill of Supply will be issued .what are circumstances where Taxable Invoice as well as Bill of supply need not be raised and instead Delivery Challan will be sufficient. Where there is difference in price downward and upward one need to issue supplementary invoice / debit note or credit note. What are the circumstance where revised invoice will be issued. Let us discuss one by one and focus on Section 31 to 34 of the GST Act ,2017 and Invoice Rule of the same. Issue of tax Invoice and Bill of Supply 1. at the time of Removal of goods where there is movement of Goods. 2. delivery of goods where there is no movement of goods. 3. tax invoice not required where goods are valuing less than ₹ 200. 4. Supply of exempted goods or paying tax under sec.10, will

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ment is fix as per contact, due date b] otherwise at the time of receipt of payment c] on completion of event if the event is linked. Requirement Tax Invoice Bill of Supply Supplementary/Revised Invoice Debit & Credit Note Receipt Voucher Name, Address and GSTIN of supplier Y Y Y Y Serial Number Y Y Y Y Date of issue Y Y Y Y Name, Address and GSTIN or UIN of recipient if register Y Y Y Y Name, Address of recipient & address of delivery with name and code of state if recipient is unregistered where the value of taxable supply is ₹ 50000 or more. Y N Y Y HSN Code or SAC Y Y N N Description of Goods and Services Y Y N Y Quantity in case of goods & unit or unique Quantity code Y N N N Total value of Goods or Services or both Y Y N N Taxable value of Goods or services after discount Y N Y Y Rate of tax Y N N Y Amount of tax Y N N Y Place of supply with name of State in case of Inter state supply. Y N N Y Address of delivery if the same is different from place of supply Y N

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tributor Serial number Date of issue Name address and GSTIN of recipient Amount of credit distributed signature where the ISD is bank, financial institution or NBFC , they can issue any document without any serial number but having all information mentioned above. Where the supplier of goods is GTA supplying goods by road shall issue tax invoice or any other document containing the gross weight of the consignment, name of the consignor and consignee, registration number of goods carriage, detail of goods transported, place of origin and destination, GSTIN of person liable for paying tax consignor, consignee or GTA and also containing other information as per rule -1. Where the supplier is passenger transportation, tax invoice shall include ticket in any form by whatever name called without any serial no., without the address of recipient but include all information mentioned in rule-1. Following are the cases where invoice is not mandatory Supply of liquid gas where the quantity at the

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