Goods and Services Tax

Question 19 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 19 – Q 19. What are the benefits available to small tax payers under the GST regime? Ans. Tax payers with an aggregate turnover in a financial year up to [Rs.10 lakhs] would be exempt from tax. [Aggregate turnover shall include the aggregate value of all taxable and non-taxable supplies, exempt supplies and exports of goods and/or services and exclude tax

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Question 18 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 18 – Q 18. Who is liable to pay GST under the proposed GST regime? Ans. Under the GST regime, tax is payable by the taxable person on the supply of goods and/or services. Liability to pay tax arises when the taxable person crosses the threshold exemption, i.e. ₹ 10 lakhs (Rs. 5 lakhs for NE States) except in certain specified cases where the taxable

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Question 17 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 17 – Q 17. How will decisions be taken by GST Council? Ans. The Constitution (one hundred and first amendment) Act, 2016 provides that every decision of the GST Council shall be taken at a meeting by a majority of not less than 3/4th of the weighted votes of the Members present and voting. The vote of the Central Government shall have a weightage of 1/3rd

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Question 16 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 16 – Q 16. What is the guiding principle of GST Council? Ans. The mechanism of GST Council would ensure harmonization on different aspects of GST between the Centre and the States as well as among States. It has been provided in the Constitution (one hundred and first amendment) Act, 2016 that the GST Council, in its discharge of various functions, shall

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Question 15 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 15 – Q 15. What would be the role of GST Council? Ans. A GST Council would be constituted comprising the Union Finance Minister (who will be the Chairman of the Council), the Minister of State (Revenue) and the State Finance/Taxation Ministers to make recommendations to the Union and the States on (i) the taxes, cesses and surcharges levied by the Centre,

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Who will decide rates for levy of GST? – Question 14 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 14 – Q 14. Who wi

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Question 13 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 13 – Q 13. What is IGST? Ans. Under the GST regime, an Integrated GST (IGST) would be levied and collected by the Centre on inter-State supply of goods and services. Under Article 269A of the Constitution, the GST on supplies in the course of inter- State trade or commerce shall be levied and collected by the Government of India and such tax shall be appo

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Question 12 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 12 – Q 12. What are the benefits which the Country will accrue from GST? Ans. Introduction of GST would be a very significant step in the field of indirect tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax and allowing set-off of prior-stage taxes, it would mitigate the ill effects of cascading and pave the

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Question 11 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 11 – Q 11. How a particular transaction of goods and services would be taxed simultaneously under Central GST (CGST) and State GST (SGST)? Ans. The Central GST and the State GST would be levied simultaneously on every transaction of supply of goods and services except the exempted goods and services, goods which are outside the purview of GST and the transactions which are below the prescribed threshold limits. Further, both would be levied on the same price or value unlike State VAT which is levied on the value of the goods inclusive of CENVAT. While the location of the supplier and the recipient wi

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#8377; 10 ) in cash as he would be entitled to set-off this liability against the CGST or SGST paid on his purchases (say, inputs). But for paying CGST he would be allowed to use only the credit of CGST paid on his purchases while for SGST he can utilize the credit of SGST alone. In other words, CGST credit cannot, in general, be used for payment of SGST. Nor can SGST credit be used for payment of CGST. Illustration II: Suppose, again hypothetically, that the rate of CGST is 10% and that of SGST is 10%. When an advertising company located in Mumbai supplies advertising services to a company manufacturing soap also located within the State of Maharashtra for, let us say ₹ 100, the ad company would charge CGST of ₹ 10 as well as S

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Question 10 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 10 – Q 10. Why was the Constitution of India amended recently in the context of GST? Currently, the fiscal powers between the Centre and the States are clearly demarcated in the Constitution with almost no overlap between the respective domains. The Centre has the powers to levy tax on the manufacture of goods (except alcoholic liquor for human consumptio

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Which authority will levy and administer GST? – Question 9 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 9 – Q 9. Wh

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Question 8 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 8 – Q 8. Why is Dual GST required? Ans. India is a federal country where both the Centre and the States have been assigned the powers to levy and collect taxes through appropriate legislation. Both the levels of Government have distinct responsibilities to perform according to the division of powers prescribed in the Constitution for which they need to rai

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Question 7 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 7 – Q 7. What type of GST is proposed to be implemented? Ans. It would be a dual GST with the Centre and States simultaneously levying it on a common tax base. The GST to be levied by the Centre on intra-State supply of goods and / or services would be called the Central GST (CGST) and that to be levied by the States would be called the State GST (SGST). S

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Question 6A – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 6A – Q 6A. What will be status of Tobacco and Tobacco pro

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Question 6 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 6 – Q 6. What will be the status in respect of taxation of

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Question 5 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 5 – Q 5. Which are the commodities proposed to be kept out

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

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What exactly is the concept of destination based tax on consumption? – Question 2 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Goods and Services Tax – Frequently Asked Questions (FAQ) on GST – as released by CBEC as on 21.09.2016 – TMI Updates – Highlights

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