Minutes of the 13th GST Council Meeting held on 31st March 2017
13th GST Council Meeting Dated:- 31-3-2017 GST Council – Minutes
GST
Minutes of the 13th GST Council Meeting held on 31st March 2017
\nThe thirteenth meeting of the GST Council (hereinafter referred to as 'the Council') was held on 31 March 2017 in Vigyan Bhavan, New Delhi under the Chairpersonship of the Hon'ble Union Finance Minister, Shri Arun Jaitley. The list of the Hon'ble Members of the Council who attended the meeting is at Annexure 1. The list of officers of the Centre, the States, the GST Council and the Goods and Services Tax Network (GSTN) who attended the meeting is at Annexure 2,
\n2. The following agenda items were listed for discussion in the 13th Meeting of the Council-
\n 1. Confirmation of the Minutes of the 12th GST Council Meeting held on 16 March 2017
\n 2. Approval of the Draft GST Rules on:
\n (a) Input Tax Credit
\n (b) Valuation
\n (c) Transitional Provisions
\n (d) Composition\n <\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n version of the Secretary to the Council (hereinafter referred to as 'Secretary') in paragraph 12.6 of the Minutes, in regard to levy of value Added Tax (VAT) on 'Bidi'; though recorded correctly, created an impression that VAT was charged only in six States. He stated that upon further inquiry, it had come to his notice that VAT on 'Bidi' was levied in about 21 States, namely, Rajasthan (65%), Jammu & Kashmir (40%), Himachal Pradesh (22%), Delhi (20%), Tamil Nadu (14.5%), Punjab (14.3%), Uttar Pradesh (14%), Madhya Pradesh (65%), Chandigarh (20%), Haryana (13.125%), Maharashtra (13.5%), Andhra Pradesh (exempt), Telangana (exempt), Karnataka (exempt), Chhattisgarh (5%), Odisha (10%), Assam (30%), West Bengal (exempt), Jharkhand (5%), Bihar (15%), Uttarakhand (20%), Goa (25%), Puducherry (14.5%), Kerala (14.5%) and Gujarat (22.5%). The Secretary stated that in order to avoid any confusion, his version recorded in this paragraph could be slightly modified and the w<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n stions to amend the various provisions of the Rules. He stated that the Rules would be revised on the basis of these suggestions and circulated to the States within a day. He then invited Shri Upender Gupta, Commissioner (GST Policy Wing), Central Board of Excise and Customs (CBEC) to make a brief presentation on these four Rules. In his presentation, the Commissioner (GST Policy Wing), CBEC, outlined the salient features of the GST Rules on (a) Input Tax Credit; (b) Valuation; (c) Transitional Provisions; and (d) Composition. The presentation is attached as Annexure 3 to the Minutes . = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n and Debit\/Credit Note had been put in the public domain earlier and the four new Rules also needed to be put in the public domain at the earliest. He suggested that the Council could approve the four new Rules and authorise the Law Committee of Officers to make minor changes and inform the Council. The Hon'ble Chairperson stated that a more appropriate approach would be for the Council to approve these four draft Rules along with the changes agreed upon today by the officers. These Rules could then be circulated to the States and also put in the public domain and after taking note of the comments received from the public, final version of the Rules would be brought to the Council for its approval. The Council agreed to this suggestion. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ansitional Provisions; and Composition along with the changes agreed upon during the meeting of the officers held on 31 March, 2017. The Council further approved that these Rules would be circulated to the States and would be put in the public domain, and after taking note of the comments received from the public, final version of these Rules would be brought to the Council for its approval. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ess Process Report on Return, it was provided that where the value of an outward supply of a taxpayer was less than Rs. 50,000, and it did not have the address on record of the purchaser, it would be treated as an intra-State supply. He stated that this would be detrimental to the revenue interest of the smaller States of the North-East region and that this provision could be misused by the unscrupulous persons to escape threshold for registration or to stay within the Composition threshold. He added that this issue was discussed in a meeting chaired by the Revenue Secretary on 20 October, 2016 where it was agreed that the Law Committee of Officers would re-examine this issue but the provision had remained unchanged. He suggested that the monetary limit should be lowered from Rs. 50,000 to Rs. 20,000. He added that this was also proposed by some other smaller States of North-East like Meghalaya and Arunachal Pradesh during the officers' meeting held in the morning. The Secretary st<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n od quality outlets for high value consumer products in the smaller States of the North-East, if necessary, through co-operative societies and that this would encourage local purchase of high value consumer goods. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n The Council agreed to this suggestion. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n in case such a scheme was continued by the Central Government, then only 58% of the total CGST amount shall be reimbursed to the eligible industries in the States where area-based Central Excise exemption was in force. He informed that the Department of Industrial Policy and Promotion (DIPP) in the Ministry of Commerce and Industry was devising a re-imbursement scheme and stated that they should be ready with the scheme before 1 July 2017. He also advised that the Tax Research Unit in the Department of Revenue should follow up this matter with the DIPP. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ouncil = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n \n11 = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n \nShri Vipin Kumar Singh = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n \nShri Vidya Sagar = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n r = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ys = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n tances-Rule 9 (Pg.8) = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n s = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n stock held on the day = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n Y = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n on to raise = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Minutes of the 13th GST Council Meeting held on 31st March 201713th GST Council Meeting Dated:- 31-3-2017 GST Council – MinutesGSTMinutes of the 13th GST Council Meeting held on 31st March 2017 The thirteenth meeting of the GST Council (hereinafter referred to as 'the Council') was held on 31 March 2017 in Vigyan Bhavan, New … Continue reading “Minutes of the 13th GST Council Meeting held on 31st March 2017”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-67880","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/67880","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=67880"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/67880\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n6.2. The Secretary informed that the comments of the officers on these four Rules had already been taken note of and invited further comments of the Hon'ble Members of the Council. The Hon'ble Minister from Kerala pointed out that Rule 5 of the Valuation Rules relating to supply of lottery tickets was complex and enquired whether this stood deleted in light of the officers' level discus<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n6.4. The Hon'ble Minister from Jammu & Kashmir stated that the Goods and Services Tax Network (GSTN) should be open to incorporating small changes that might arise in the Jammu & Kashmir GST Rules drafted in exercise of the powers conferred unde<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nAgenda Item 3: Approval of amendments to the five Draft GST Rules approved in the 2nd Meeting ofthe GST Council held on 30 September 2016, namely (a) Registration; (b) Return; (c) Payment; (d) Refund; and (e) Invoice and Debit\/Credit Note:
\n8.1. Introducing this agenda item, the Secretary informed that the five GST Rules relating to Registration; Return; Payment; Refund; and Invoice and Debit\/Credit Note had been approved by the Council in its 2nd Meeting held on 30 September, 2016, but subsequently changes had to be made to them for various reasons like comments from stakeholders, changes in the <\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n8.3. The Secretary suggested that the five Rules with the suggested amendments, including those which were agreed upon in the officers meeting in the morning, could be approved and that these amended Rules could be shared with the States and also put in the public domain. The Council agreed to this suggestion.
\n9. For agenda item 3, the Council approved the amended five GST Rules, namely, Registration; Return; Payment; Refund; and Invoice and Debit\/Credit Note including the amendments suggested during the meeting of the officers held in the morning and agreed to circulate it to the States and to also put them in the public domain.
\nAgenda Item 4: Any other agenda item with the permission of the Chairperson
\n10. The Hon'ble Minister from Chhattisgarh stated that as Entry 5<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n11. The Hon'ble Chairperson stated that the officers would have to start work on fitment of rates of goods and services under GST. The desirability of sharing the proposed rates of tax on goods and services in advance of the Meeting of the Council was discussed. The Hon'ble Minister from Jammu & Kashmir stated that the proposed rates of tax should not be put in public domain in advance as this would create distortions in the market. The Hon'ble Minister from Kerala supported this suggestion. The Hon'ble Deputy Chief Minister of Delhi stated that their present practice was not to inform the proposed changes to the rates of VAT in advance as this led to hoarding and black marketing of goods and suggested that the rates of tax should not be notified in advance in the GST regime. The Secretary suggested that the agenda relating to GST rates of goods and services could be brought on the table for the Council's discussion on the da<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n13. The Hon'ble Minister from Uttar Pradesh stated that his State had an outstanding CST compensation due of Rs. 280 crore and enquired as to when this would be disbursed by the Central Government. The Secretary stated that 50% of the compensation amount had already been disbursed as part of the first instalment and that the remaining 50% was due to be paid today. He stated that an additional compensation requirement of Rs. 1,000 c<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n15. The Hon'ble Chairperson observed with satisfaction that the nine primary GST Rules had been approved by the Council. He observed that the next important items of work for the roll out of GST were to complete the drafting of the remaining minor GST Rules and to complete the fitment of GST rates of goods and services. He stated that the remaining Rules should be drafted by the Law Committee of Officers at an early date and should be put in the public domain. He further stated that after taking into account the comments from the public, the remaining GST Rules should be presented to the Council for approval during its next meeting. He further stated that the officers would prepare the fitment rates for goods and services and bring it for discussion in the next Meeting of the Council. After deliberation, the Council agreed to hold its next meeting on 18 and 19 May, 2017 in Srinagar.
\n16. The meeting ended with a vote of thanks to the Chair.
\n(Arun Jaitley)
\nChairperson, GST<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nKarnataka
\n12
\nKerala
\nDr. Thomas Isaac
\n13
\nMadhya Pradesh
\nShri Jayant Malaiya
\n14 Maharashtra
\n15 Nagaland
\n16 Punjab
\n17
\nRajasthan
\n18
\nTamil Nadu
\nShri D. Jayakumar
\n19
\nTelangana
\nShri Etela Rajender
\nFinance Minister
\n20
\nUttar Pradesh
\nShri Rajesh Agarwal
\nFinance Minister
\n21 Uttarakhand
\nShri Prakash Pant
\nFinance Minister
\nShri Manpreet Singh Badal
\nShri Rajpal Singh
\nShekhawat
\nMinister Industries
\n–
\nMinister – Finance, Fisheries &
\nAdministrative Reforms
\nPage 7 of 24
\nay
\nCHAIRMAN'S
\nINITIALS
\nCHAIRMAN'S
\nINITIALS
\nMINUTE BOOK
\nAnnexure 2
\nList of officers who attended the 13th GST Council Meeting on 31 March 2017
\nS No
\nState\/Centre
\nName of the Officer
\nCharge
\n1
\nGovt. of India
\nDr. Hasmukh Adhia
\nRevenue Secretary
\n2 Govt. of India
\nShri Najib Shah
\nChairman, CBEC
\n3
\nGovt. of India
\nMs. Vanaja N. Sarna
\n4
\nGovt. of India
\nShri Ram Tirath
\nMember (P&V), CBEC
\nMember (GST), CBEC
\n5 Govt. of India
\nDirector General, DG-GST, CBEC
\nShri Mahender Singh
\n6 Govt. of I<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nShri Arun Goyal
\nShri Shashank Priya
\nAssistant Director, Press
\nAdditional Secretary
\nCommissioner
\nCommissioner
\nJoint Commissioner
\nPage 8 of 24
\nWRITE AWAY)
\nMINUTE BOOK
\nS No
\nState\/Centre
\nName of the Officer
\n24 GST Council
\nMs. Thari Sitkil
\nCharge
\nDeputy Commissioner
\n25
\nGST Council
\nShri Rakesh Agarwal
\nAssistant Commissioner
\n26
\nGST Council
\nShri Kaushik TG
\nAssistant Commissioner
\n27 GST Council
\nShri Shekhar Khansili
\nSuperintendent
\n28 GST Council
\nShri Manoj Kumar
\nSuperintendent
\n29
\nGST Council
\nShri Sandeep Bhutani
\nSuperintendent
\n30 GST Council
\nShri Amit Soni
\nInspector
\n31
\nGST Council
\nShri Anis Alam
\nInspector
\n32 GST Council
\nShri Ashish Tomar
\nInspector
\n33
\n33
\nGST Council
\nShri Alok Bharti
\nInspector
\n34
\nGST Council
\nShri Sharad Verma
\n35 GST Council
\n36 Andhra Pradesh
\n37
\nAndhra Pradesh
\nShri Sher Singh Meena
\nShri J. Syamala Rao
\nShri T. Ramesh Babu
\nShri Arun Kr. Mishra
\nShri Ajitabh Mishra
\n38 Andhra Pradesh
\nShri J.V.M. Sha<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nCommissioner, Commercial Taxes
\nJoint Secretary (Tax)
\nAdditional Chief Secretary
\nCommissioner, Excise & Taxation
\nJoint Commissioner, Excise &
\nTaxation
\nS No
\nState\/Centre
\nName of the Officer
\n50 Goa
\nShri Dipak Bandekar
\nCharge
\nCommissioner, Commercial Taxes
\n51
\nGoa
\nShri Upendra Joshi
\nOSD to CM
\n52 Gujarat
\n53 Gujarat
\n54 Haryana
\n55 Haryana
\n56 Haryana
\n57 Haryana
\n58
\n59
\nHimachal
\nPradesh
\nJammu &
\nKashmir
\nShri P.K. Bhat
\n60 Jharkhand
\n61 Jharkhand
\n62 Karnataka
\n63
\nKerala
\nShri Ritvik Pandey
\nShri P. Mara Pandiyan
\n64 Kerala
\n65 Madhya Pradesh
\n66 Madhya Pradesh
\n67 Maharashtra
\n68 Maharashtra
\nShri Joydeep Duhar
\nShri Sanjay Bhardwaj
\nShri Sanjay Kr. Prasad
\nShri G.S. Kapardar
\nDr. Rajan Khobragade
\nShri Raghwendra Kumar
\nSingh
\nShri Sudip Gupta
\nShri Rajiv Jalota
\nShri Dhananjay Akhade
\nShri Kailiana Ralte
\nShri R. Zosiamliana
\nShri Asangba Chuba Ao
\n69 Mizoram
\n70 Mizoram
\n71 Nagaland
\n72 Nagaland
\nShri Taliremba
\n73 Odisha
\nShri Saswat Mishra
\n74 <\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n84 Telangana
\nShri Laxminarayan Jannu
\n85 Tripura
\nShri P. Srivastava
\n86 Uttarakhand
\nShri Ranveer Singh Chauhan
\n87 Uttarakhand
\nShri Piyush Kumar
\n88 Uttarakhand
\nShri Yashpal Singh
\n89
\nUttar Pradesh
\nShri R.K.Tiwari
\n90 Uttar Pradesh
\nShri Vivek Kumar
\n91 Uttar Pradesh
\n92 Uttar Pradesh
\n93 West Bengal
\nShri Nirak K. Maurya
\nShri Amit Tyagi
\nShri Khalid A. Anwar
\nCharge
\nFinancial Commissioner (Taxation)
\nAdvisor (GST), Govt. of Punjab
\nDeputy Commissioner, Commercial
\nTaxes
\nCommissioner, Commercial Taxes
\nDeputy Commissioner, Commercial
\nTaxes
\nAdditional Chief Secretary
\nJoint Commissioner, Commercial
\nTaxes
\nCommissioner, Commercial Taxes
\nJoint Commissioner, Commercial
\nTaxes
\nChief Resident Commissioner,
\nTripura Bhavan
\nCommissioner, Commercial Taxes
\nAddl. Commissioner, Commercial
\nTaxes
\nDeputy Commissioner, Commercial
\nTaxes
\nAdditional Chief Secretary
\nAdditional Commissioner,
\nCommercial Taxes
\nAssistant Commissioner,
\nCommercial Taxes
\nAssistant Commissioner,
\nComm<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n\u00e2\u2013\u00a1 Procedure for claim of credit by a banking company or a financial
\ninstitution including NBFC – Rule 3 (Pg.1)
\n0 not to avail ITC on inputs, etc. used for non-business purposes
\n0
\n50% of the eligible ITC will be credited to the electronic credit
\nledger
\nPage 13 of 24
\n2
\n\u00d1\u201e\u00d1\u0192
\nCHAIRMAN'S
\nINITIALS
\nCHAIRMAN'S
\nINITIALS
\nMINUTE BOOK
\nRules for Input Tax Credit (2\/4)
\nProcedure for distribution of ITC by ISD – Rule 4 (Pg.2)
\n0 ITC to be distributed in the same month in which it was availed
\n\u00e3\u20ac\u201a Separate distribution of eligible and ineligible ITC
\n0
\nO
\nINATION
\nTAX
\nMARKET
\ncentral tax, State tax, integrated tax & Union territory tax to be
\ndistributed separately
\nITC to be distributed on pro-rata basis in ratio of the total turnover
\nin the State or Union Territory
\nmethod of distribution of Distribution of central tax, State tax,
\nintegrated tax & Union territory tax
\n\u00e3\u20ac\u201a Separate ISD invoice or credit note to be issued
\n0 GSTR-6 to be filled
\nRules for In<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nConditions & restrictions in respect of inputs & capital
\ngoods sent to job-worker – Rule 10 (Pg.8)
\nRules for Valuation (1\/5)
\n5
\nNATION
\nTAX
\nMARKET
\nValue of supply of goods or services or both where the
\nconsideration is not wholly in money – Rule 3 (Pg.11)
\n0 open market value
\n0
\n0
\nsum total of consideration in money & any further amount in
\nmoney as is equivalent to the consideration not in money
\nvalue of supply of goods or services of like kind and quality
\nsum total of consideration in money & any further amount in
\nmoney as is equivalent to the consideration not in money as
\ndetermined though Rule 6 or 7
\nPage 15 of 24
\n6
\nCHAIRMAN'S
\nINITIALS
\nCHAIRMAN'S
\nINITIALS
\nMINUTE BOOK
\nRules for Valuation (2\/5)
\nINATION
\nTAX
\nMARKET
\nValue of supply of goods or services or both
\nbetween distinct or related persons, excluding
\nsupply through agent – Rule 4 (Pg.12)
\n\u00e2\u0161\u00ab open market value
\n\u00e3\u20ac\u201a value of supply of goods or services of like kind and
\nqualit<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\no
\nO
\n0
\nvalue of supply provided by a person buying and selling second
\nhand goods
\nvalue of token, voucher, coupon etc. – equal to money value of
\ngoods or services redeemable through such instrument
\nValue in case of certain notified supplier of services
\n9
\nINATION
\nTAX
\nMARKET
\nRules for Valuation (5\/5)
\nValue of supply of services in case of services
\nprovided by pure agent – Rule 9 (Pg. 15)
\nValue in case of import or export
\n(Pg.15)
\n–
\nRule 10
\nPage 17 of 24
\n10
\nCHAIRMAN'S
\nINITIALS
\nCHAIRMAN'S
\nINITIALS
\nMINUTE BOOK
\nTransitional Rules (1\/2)
\nNATION
\nTAX
\nMARKET
\nTo submit an application in respect of tax or duty credit carried
\nforward under any existing law or on goods held in stock on the
\nappointed day – Rule 1 (Pg. 17)
\nProvides for credit as available under existing law (Separate provisions
\nfor CGST and SGST Act)
\nDetails of stock and capital goods held on the appointed day to be
\nprovided on the common portal
\nSpecial provision for availing credit @ 40% even if du<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\npreceding the date of option
\nOption to be effective from the beginning of the year,
\nwhere the intimation is filed or the appointed date – Rule 2
\n(Pg.21)
\nConditions and restrictions for availing scheme of
\ncomposition levy provided in Section 10 of the Act – Rule 3
\n(Pg.22)
\n13
\nRules for Composition levy (2\/3)
\nNATION
\nTAX
\nMARKET
\nTime period for validity of option for paying tax
\ncomposition levy scheme – Rule 4 (Pg.22)
\nValid till the taxable person satisfies all conditions
\n\u00e3\u20ac\u201a Voluntary withdrawal
\n\u00e3\u20ac\u201a Such option may be denied if the taxable person was not
\neligible for such scheme and is served a notice accordingly
\nPerson to furnish details of stock held on the day on which
\noption is withdrawn or denied
\nPage 19 of 24
\n14
\nCHAIRMAN'S
\nINITIALS
\nCHAIRMAN'S
\nINITIALS
\nMINUTE BOOK
\nRules for Composition levy (3\/3)
\nINATION
\nTAX
\nMARKET
\nRate of tax of the composition levy for different category of
\ntaxable persons – Rule 5 (Pg.23)
\nSI No. Cat<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nMINUTE BOOK
\nINATION
\nChanges in Registration Rules (1\/2)
\nTAX
\nMARKET
\nCertificate of registration to be digitally signed by the
\nproper officer – Rule 3 (Pg.3)
\nApplication for registration by a non-resident taxable
\nperson to be signed by his authorized signatory holding a
\nvalid PAN – Rule 6 (Pg.4)
\nRules updated for grant of registration to a person
\nsupplying online information and data base access or
\nretrieval services – Rule 6A (Pg.4)
\nProcedure prescribed for grant or cancellation of Unique
\nIdentity Number – Rule 9 (Pg.5)
\n17
\nChanges in Registration Rules (2\/2)
\nINATION
\nTAX
\nMARKET
\nProcedure for time bound approval or denial of
\namendment in registration application – Rule 11 (Pg.6)
\nProvision made for submission of stock declaration along
\nwith application for cancellation of registration – Rule 12
\n(Pg.7)
\nNew Rule added to provide for cancellation of registration
\nin certain cases – Rule 13 (Pg.7)
\nDetailed procedure for migration of existing tax payers
\nRule 16 (Pg<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nquery in case Challan Identification Number (CIN) is
\ngenerated or generated but not communicated to the
\nCommon Portal – Rule 3(8) (Pg.30)
\nPage 22 of 24
\n20
\nWRITE A WAY)
\nMINUTE BOOK
\nChanges in Refund Rules
\nINATION
\nTAX
\nMARKET
\nNew Proviso for submission of application of refund by
\nsupplier for supplies to Special Economic Zone – 3rd Proviso
\nto Rule 1(1) (Pg.34)
\nNew rule for refund of advance tax deposited by non-
\nresident taxable person or casual taxable person
\nProviso to Rule 1(1) (Pg.34)
\n–
\n5th
\nFormula for calculation of refund amount in case of Zero-
\nrated supply of goods or services or both under bond or on
\npayment of tax – Rule 1(4) (Pg.35)
\nDetailed provisions of Consumer Welfare Fund added
\nRule 7 (Pg.39)
\n21
\nChanges in Invoice Rules (1\/2)
\nINATION
\nTAX
\nMARKET
\nProvides for special characters that could be included in invoice
\nserial number – Rule 1 (Pg.42)
\nNew Rules for issuing a consolidated tax invoice on daily basis
\ninstead of individual invo<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n