Goods and Services Tax

Whether a supplier of goods or services supplying through e-commerce operator would be entitled to threshold exemption?
Question 4
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 4. Whether a supplier of goods or services supplying through e-commerce operator would be entitled to threshold exemption?
Ans. No. The threshold exemption is not available to such suppliers and they would be liable to be registered irrespective of the value of supply made by them

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Is it mandatory for e-commerce operator to obtain registration?
Question 3
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 3. Is it mandatory for e-commerce operator to obtain registration?
Ans. Yes. The benefit of threshold exemption is not available to e-commerce operators and they would be liable to be registered irrespective of the value of supply made by them.
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Statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations,

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Who is an e-commerce operator?
Question 2
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
Q 2. Who is an e-commerce operator?
Ans. Electronic Commerce Operator ha

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What is Electronic Commerce?
Question 1
Bill
Electronic Commerce
Faq On GST (2nd Edition) Dated 31.3.2017
8. Electronic Commerce
Q 1. What is Electronic Commerce?
Ans. Electronic

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Is the pre-registration of credit card necessary in the GSTN portal for the GST payment?
Question 28
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 28. Is the pre-registration of credit card necessary in the GSTN portal for the GST payment?
Ans. Yes. The taxpayer would be required to pre-register his credit card, from which the tax payment is intended, with the Common Portal maintained on GSTN. GSTN may also attempt to put in a system with banks in getting

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What does the expression “Net value of taxable supplies” mean?
Question 27
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 27. What does the expression “Net value of taxable supplies” mean?
Ans. The expression “net value of taxable supplies” means the aggregate value of taxable supplies of goods or services, other than services notified under Section 9(5), made during any month by all registered taxable persons through the operator reduced by the aggreg

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What is Tax Collected at Source (TCS)?
Question 26
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 26. What is Tax Collected at Source (TCS)?
Ans. This provision is applicable only for E-Commerce Operator under section 52 of CGST/SGST Act. Every ECommerce Operator, not being an agent, needs to withhold an amount calculated at the rate not exceeding one percent of the “net value of taxable supplies” made through it where the consideration with respect to suc

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How will the TDS Deductor account for such TDS?
Question 25
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 25. How will the TDS Deductor account for such TDS?
Ans. TDS Deductor will account for such TDS in the following ways:
1. Such deductors needs to get compulsorily registered under section 24 of the CGST/SGST Act.
2. They need to remit such TDS collected by the 10th day of the month succeeding the month in which TDS was collected and reported in GS

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How will the Supplier account for this TDS? while filing his return?
Question 24
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 24. How will the Supplier account for this TDS? while filing his return?
Ans. Any amount shown as TDS will be reflected in the electronic cash ledger of the concerned supplier. He can utilize this amount towards discharging his liability towards tax, interest fees and any other amount.
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What is TDS?
Question 23
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 23. What is TDS?
Ans. TDS stands for Tax Deducted at Source (TDS). As per section 51, this provision is meant for Government and Government undertakings and other notified entities making contractual payments where total value of such supply under a contract exceeds ₹ 2.5 Lakhs to suppliers. While making any payments under such contracts, the concerned Government/authority shall

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What is an E-FPB?
Question 22
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 22. What is an E-FPB?
Ans. E-FPB stands for Electronic Focal Point Branch. These are branches of authorized banks which are authorized to collect payment of GST. Each authorized bank will nominate only one branch as its E-FPB for pan India Transactions. The E-FPB will have to open accounts under each major head for all governments. Total 38 accounts (one each for CGST, IGST and on

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What does the expression “Other dues” referred to above mean?
Question 21
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 21. What does the expression “Other d

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What is the sequence of payment of tax where that taxpayer has liabilities for previous months also?
Question 20
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 20. What is the sequence of payment of tax where that taxpayer has liabilities for previous months also?
Ans. Section 49(8) prescribes an order of payment where the taxpayer has tax liability beyond the current return period. In such a situation, the order of payment to be followed is: First self-as

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What is a CIN and what is its relevance?
Question 19
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 19. What is a CIN and what is its relevance?
Ans. CIN stands for Challan Identification Number. It is a 17-digit number that is 14-digit CPIN plus 3-digit Bank Code. CIN is generated by the authorized banks/ Reserve Bank of India (RBI) when payment is actually received by such authorized banks or RBI and credited in the relevant government account held with

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What is a CPIN?
Question 18
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 18. What is a CPIN?
Ans. CPIN stands for Common Portal Identification Number (CPIN) gi

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Is there a validity period of challan?
Question 17
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 17. Is there a validity period of challan?
Ans. Yes, a challan

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Can a challan generated online be modified?
Question 16
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 16. Can a challan generated online be modified?
Ans. No. After logging into GSTN portal for generation of challan, payment particulars have to be fed in by the tax payer or his authorized person. He can save the challan midway for future updation. However once the challan is finalized and CPIN generated, no further changes can be made to it by the taxpaye

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Can a tax payer generate challan in multiple sittings?
Question 15
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 15. Can a tax payer generate challan in multiple sittings?
Ans. Yes, a taxpayer can partially fill in the challan form and temporarily “save” the challan for completion at a later stage. A saved challan can be “edited” before finalization. After the tax payer has finalized the challan, he will generate the challan, for use of payment of taxes.

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What is the linkage between GSTN and the authorized Banks?
Question 14
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 14. What is the linkage between GSTN and the authorized Banks?
Ans. There will be real time two-way linkage between the GSTN and the Core Banking Solution (CBS) of the Bank. CPIN is automatically routed to the Bank via electronic string for verification and receiving payment and a challan identification number (CIN) is automatically sent by

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What is an ITC Ledger?
Question 13
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 13. What is an ITC Ledger?
Ans. Input Tax Credit as self-assessed in monthly r

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What is a Cash Ledger?
Question 12
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 12. What is a Cash Ledger?
Ans. The cash ledger will reflect all deposits made

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What is a tax liability register?
Question 11
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 11. What is a tax liability register?
Ans. Tax Liability Register w

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What are E-Ledgers?
Question 10
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 10. What are E-Ledgers?
Ans. Electronic Ledgers or E-Ledgers are statements of cash and input tax credit in respect of each registered taxpayer. In addition, each taxpayer shall also have an electronic tax liability register. Once a taxpayer is registered on Common Portal (GSTN), two e-ledgers (Cash &Input Tax Credit ledger) and an electronic tax liability register will be autom

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Which date is considered as date of deposit of the tax dues – Date of presentation of cheque or Date of payment or Date of credit of amount in the account of government?
Question 9
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 9. Which date is considered as date of deposit of the tax dues – Date of presentation of cheque or Date of payment or Date of credit of amount in the account of government?
Ans. It is the date of credit to the Government account.

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What happens if the taxable person files the return but does not make payment of tax?
Question 8
Bill
GST Payment of Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 8. What happens if the taxable person files the return but does not make payment of tax?
Ans. In such cases, the return is not considered as a valid return. Section 2(117) defines a valid return to mean a return furnished under sub-section (1) of section 39 on which self-assessed tax has been paid in full. It is on

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