GST ROLL OUT AND PREPARATION THEEOF
PUBLIC NOTICE NO. 138\/2017 Dated:- 24-6-2017 Trade Notice
Customs
MINISTRY OF FINANCE, DEPARTMENT OF REVENUE
\nOFFICE OF THE COMMISSIONER OF CUSTOMS, CHENNAI-V
\nCUSTOMS HOUSE, NO. 60, RAJAJI SALAI, CHENNAI – 600001
\nF.N0. S.MISC\/07\/2017-MA-V
\nDated: 24.06.2017
\nPUBLIC NOTICE NO. 138\/2017
\nSubject : GST ROLL OUT AND PREPARATION THEEOF-REG
\nWith the CST set to be rolled out on 1st July, 2017, the final phase of preparation for its implementation is In full swing. Customs too has a major stake In the early implementation of CST as IGST would begin to be levied on the imports from the very first day, the credit of which shell be available to the importers. Similar*, the refund on exports of goods is contingent upon filing of (a) Shipping bill accompanied by GST invoice and (b) Export Genera! Manifest. Hence there is immediate need for sensitizing Customs officers, trade and partner stakeholders to the changes imminent on the customs side.
\nChan<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n NER OF CUSTOMS = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n er section 5 of the = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n on that article under section 12 of the Customs Act. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n paid on the imported = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n automatically calculate the levy on imported goods. The total IGST and = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" GST ROLL OUT AND PREPARATION THEEOFPUBLIC NOTICE NO. 138\/2017 Dated:- 24-6-2017 Trade NoticeCustomsMINISTRY OF FINANCE, DEPARTMENT OF REVENUE OFFICE OF THE COMMISSIONER OF CUSTOMS, CHENNAI-V CUSTOMS HOUSE, NO. 60, RAJAJI SALAI, CHENNAI – 600001 F.N0. S.MISC\/07\/2017-MA-V Dated: 24.06.2017 PUBLIC NOTICE NO. 138\/2017 Subject : GST ROLL OUT AND PREPARATION THEEOF-REG With the CST set to … Continue reading “GST ROLL OUT AND PREPARATION THEEOF”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-16842","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/16842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16842"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/16842\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nCHENNAI – V COMMISSIONERATE
\n=============
\nDocument 1
\nAdvisory on Customs related matters on introduction of Goods and Service Tax regime
\nLevy of Duties
\n1. Sub-section (1) of section 5 of the Integrated Goods and Services Act. 2017 states that
\n“Subject to the provisions of sub-section (2). there shall be levied a tax called the
\nintegrated goods and services tax on all inter-State supplies of goods or services or both.
\nexcept on the supply of alcoholic liquor for human consumption, on the value determined
\nunder section 15 of the Central Goods and Services Tax Act and at such rates, not
\nexceeding forty per cent., as may be notified by the Government on the recommendations of
\nthe Council and collected in such manner as may be prescribed and shall be paid by the
\ntaxable person:
\nProvided that the integrated tax on goods imported into India shall be levied and collected
\nin accordance with the provisions of section 3 of the Customs Tariff Act, 1975 on the value
\nas <\/p>\n
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\nIntegrated Goods and Services Tax Act, 2017 on a like article on its supply in India, on
\nthe value of the imported article as determined under sub-section (8).
\n(8) For the purposes of calculating the integrated tax under sub-section (7) on any
\nimported article where such tax is leviable at any percentage of its value, the value of
\nthe imported article shall, notwithstanding anything contained in section 14 of the
\nCustoms Act, 1962. be the aggregate of
\n(a) the value of the imported article determined under sub-section (1) of section 14 of
\nthe Customs Act, 1962 or the tariff value of such article fixed under sub-section (2) of
\nthat section, as the case may be: and
\n(b) any duty of customs chargeable on that article under section 12 of the Customs
\nAct, 1962, and any sim chargeable on that article under any law for the time being in
\nDocument 2
\nforce as an addition to, and in the same manner as, a duty of customs, but does not
\ninclude the tax referred to in su<\/p>\n
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\n1962, and any sum chargeable on that article under any law for the time being in force
\nas an addition to, and in the same manner as, a duty of customs. but does not include
\nthe tax referred to in sub-section (7) or the cess referred to in sub-section (9).
\nIt is requested that the officers and the trade are kept well informed about the above
\nnew levies and the levies that are being subsumed, replaced or repealed. In this
\ncontext, it is further requested that the fine-print of Taxation Laws (Amendment) Act,
\n2017 is read by field officers in detail. Customs ICES 1.5 application is also being
\nmodified to ensure that the new levies are applied and collected on all the imports from
\nJuly 1st
\nChanges in Bill of Entry and Shipping Bill Forms:
\nSince new provisions for levy of IGST and GST compensation cess on imports have
\nbeen introduced under the Customs Tariff Act, 1975, Bill of Entry, Shipping Bill and
\nCourier Regulations and F<\/p>\n
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\ngoods. Importers not registered with GSTN will be required to declare their PAN along
\nwith their state code as per the Census of India. This is required for transfer of the IGST
\npaid by the non GST importers to the account of the “consumption” state. Diplomatic
\norganizations or UN bodies can quote their UIN issued by GSTN on the Bill of Entry.
\nIn this regard, DGFT has also issued Trade Notice No. 09\/2018 dated 12.06.2017
\nwherein it has been indicated that with regard to importer\/exporter registered with
\nGSTN, importer\/exporter would need to declare only GSTIN at the time of import and
\nexport of goods and the importers who are not registered under GST would use their
\nPAN for imports. Changes have been made in the BE forms to capture details like
\nGSTIN, PAN, State code etc. of the importer. Similar changes will also be incorporated..
\nfor imports at SEZ and imports through Courier. In case of Courier. OSTIN for GST
\nregistered consignees or PAN for non-GST <\/p>\n
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\nCompensation Cess paid will be published on every Bill of Entry which can be quoted
\nby the importer to claim the corresponding credit in the GST return.
\nEDI Shipping Bill:
\n7.
\nThe Integrated Goods and Services Tax Act, 2017, under section 16 provides that
\nexport of goods shall be zero rated supply and credit of input tax may be availed for
\nmaking zero-rated supplies, notwithstanding that such supply may be an exempt supply.
\nThe section further lays down that a registered person making zero rated supply shall be
\neligible to claim refund under either of the following options, namely:
\n(a) he may supply goods or services or both under bond or Letter of Undertaking,
\nsubject to such conditions, safeguards and procedure as may be prescribed, without
\npayment of integrated tax and claim refund of unutilised input tax credit; or
\nDocument 4
\nS.
\n9.
\n10.
\n(b) he may supply goods or services or both, subject to such c<\/p>\n
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