GST – an update as on 01-06-2019
GST
Dated:- 7-6-2019
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\n=============
\nDocument 1
\nPradhan Mantri
\nKaushal Vikas Yojana,
\n(PMKVY)
\nGST
\nStart-Up
\nIndia
\nPort-led
\nDevelopment
\nGST – An Update
\n(As on 1st June, 2019)
\nMake
\nin India
\nDigital
\nIndia
\nPradhan Mantri
\nMudra Yojana
\n(
\nPMMY
\n)
\nGST
\nNATION
\nTAX
\nMARKET
\n\u00c3\u00a0\u00c2\u00a4\u00c2\u00b6\u00c3\u00a0\u00c2\u00a5\u00c2\u0081\u00c3\u00a0\u00c2\u00a4\u00c2\u00b2\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00a2 \u00c3\u00a0\u00c2\u00a4\u00c2\u008f\u00c3\u00a0\u00c2\u00a4\u00c2\u00b5\u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00c5\u00a1
\nMS AND
\n\u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00a2\u00c3\u00a0\u00c2\u00a5\u00e2\u00e2\u0082\u00ac\u00a1\u00c3\u00a0\u00c2\u00a4\u00c2\u00a8\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3\u00a0\u00c2\u00a4\u00c2\u00a6\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3\u00a0\u00c2\u00a4\u00c2\u00b0\u00c3\u00a0\u00c2\u00a5\u00e2\u00e2\u0080\u009a\u00ac\u00c3\u00a0\u00c2\u00a4\u00c2\u00af
\n\u00c3\u00a0\u00c2\u00a4\u00c2\u00af\u00c3\u00a0\u00c2\u00a4\u00c2\u00bf \u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00b0\u00c3\u00a0\u00c2\u00a4\u00c2\u00a4\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3\u00a0\u00c2\u00a4\u00c2\u00aa\u00c3\u00a0\u00c2\u00a4\u00c2\u00be\u00c3\u00a0\u00c2\u00a4\u00c2\u00a6
\nCENTRAL
\nCOP
\n\u00c3\u00a0\u00c2\u00a4\u00c2\u00b8\u00c3\u00a0\u00c2\u00a4\u00c2\u00a4\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3\u00a0\u00c2\u00a4\u00c2\u00af\u00c3\u00a0\u00c2\u00a4\u00c2\u00ae\u00c3\u00a0\u00c2\u00a5\u00e2\u00e2\u0082\u00ac\u00a1\u00c3\u00a0\u00c2\u00a4\u00c2\u00b5 \u00c3\u00a0\u00c2\u00a4\u00c5\u00e2\u0080\u009c\u00c3\u00a0\u00c2\u00a4\u00c2\u00af\u00c3\u00a0\u00c2\u00a4\u00c2\u00a4\u00c3\u00a0\u00c2\u00a5\u00e2\u00e2\u0082\u00ac\u00a1
\n\u00c3\u00a0\u00c2\u00a4\u00c2\u00ad\u00c3\u00a0\u00c2\u00a4\u00c2\u00be\u00c3\u00a0\u00c2\u00a4\u00c2\u00b0\u00c3\u00a0\u00c2\u00a4\u00c2\u00a4 \u00c3\u00a0\u00c2\u00a4\u00c2\u00b8\u00c3\u00a0\u00c2\u00a4\u00c2\u00b0\u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00a2\u00c3\u00a0\u00c2\u00a4\u00c2\u00be\u00c3\u00a0\u00c2\u00a4\u00c2\u00b0
\nGOVERNMENT
\nOF INDIA
\n\u00e2\u00e2\u0082\u00ac\u00a2 \u00c3\u00a0\u00c2\u00a4\u00c2\u00b6\u00c3\u00a0\u00c2\u00a5\u00c2\u0081\u00c3\u00a0\u00c2\u00a4\u00c2\u00b2\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00a2
\n\u00e2\u00e2\u0082\u00ac\u00a2 \u00c3\u00a0\u00c2\u00a4\u00c2\u00a6\u00c3\u00a0\u00c2\u00a5\u00e2\u00e2\u0082\u00ac\u00a1\u00c3\u00a0\u00c2\u00a4\u00c2\u00b6\u00c3\u00a0\u00c2\u00a4\u00c2\u00b8\u00c3\u00a0\u00c2\u00a5\u00e2\u00e2\u0082\u00ac\u00a1\u00c3\u00a0\u00c2\u00a4\u00c2\u00b5\u00c3\u00a0\u00c2\u00a4\u00c2\u00be\u00c3\u00a0\u00c2\u00a4\u00c2\u00b0\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3\u00a0\u00c2\u00a4\u00c2\u00a5 \u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00a2\u00c3\u00a0\u00c2\u00a4\u00c2\u00b0\u00c3\u00a0\u00c2\u00a4\u00c2\u00b8\u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00c5\u00a1\u00c3\u00a0\u00c2\u00a4\u00c5\u00a1\u00c3\u00a0\u00c2\u00a4\u00c2\u00af
\nThis presentation is for education purposes only and
\nholds no legal validity
\nThe Journey to GST
\nIn the year 2000, the then
\nPrime Minister introduced
\nthe concept of G<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n d to extend GST to J&K = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n x Structure in India = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n age and Centre – 1\/3 weightage = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n n territory. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n e Annual Return with = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n equired to be = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n upporting documents\/invoices in = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n system has been finalized and the new system would be introduced in a phased manner. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n -way (electronic way) bill is a monumental shift from the earlier = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n tute of Public Finance and = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n 01.2019 approved levy of Cess on Intra-State Supply of = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n erritory to another place in the non- = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n \n50% of the GST paid will be refunded to CSD (Defense Canteens). = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n anipur, Mizoram, Nagaland and Tripura). = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n transitional provisions for smooth transition of existing tax payers to = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ition of entire 51 per cent of equity = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n both Centre & States = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" GST – an update as on 01-06-2019 GSTDated:- 7-6-2019Download PDF ============= Document 1 Pradhan Mantri Kaushal Vikas Yojana, (PMKVY) GST Start-Up India Port-led Development GST – An Update (As on 1st June, 2019) Make in India Digital India Pradhan Mantri Mudra Yojana ( PMMY ) GST NATION TAX MARKET \u00c3\u00a0\u00c2\u00a4\u00c2\u00b6\u00c3\u00a0\u00c2\u00a5\u00c2\u0081\u00c3\u00a0\u00c2\u00a4\u00c2\u00b2\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00a2 \u00c3\u00a0\u00c2\u00a4\u00c2\u008f\u00c3\u00a0\u00c2\u00a4\u00c2\u00b5\u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00c5\u00a1 MS AND \u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00a2\u00c3\u00a0\u00c2\u00a5\u00e2\u00e2\u0082\u00ac\u00a1\u00c3\u00a0\u00c2\u00a4\u00c2\u00a8\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3\u00a0\u00c2\u00a4\u00c2\u00a6\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3\u00a0\u00c2\u00a4\u00c2\u00b0\u00c3\u00a0\u00c2\u00a5\u00e2\u00e2\u0080\u009a\u00ac\u00c3\u00a0\u00c2\u00a4\u00c2\u00af \u00c3\u00a0\u00c2\u00a4\u00c2\u00af\u00c3\u00a0\u00c2\u00a4\u00c2\u00bf … Continue reading “GST – an update as on 01-06-2019”<\/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-68863","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/68863","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=68863"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/68863\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=68863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=68863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nTrue Economic Integration of India
\n01st February,
\n2019
\nAmendments to CGST, IGST,
\nUTGST and Compensation to
\nState Acts enacted
\nNotifying and amending
\nrules
\nDealing with IT related
\nissues
\nRevision of Rates
\nClarification and
\ncommunication with
\ntaxpayers
\nGST Law from a Constitutional Perspective (1\/2)
\nArticle 366(12A)
\nSl No Definition Article
\n1.
\nGoods
\n2.
\nService
\n3.
\nState
\nDefinition of GST
\nGST
\nINATION
\nTAX
\nMARKET
\n“Goods and services tax\u00e2\u00e2\u0082\u00ac\u009d means any tax on supply of goods, or services or
\nboth except taxes on the supply of the alcoholic liquor for human
\nconsumption
\n366(12)
\n366 (26A)
\nDefinition
\nIncludes all materials, commodities, and articles [Pre Existing Definition]
\nAnything other than goods [Introduced vide 101st Constitutional Amendment
\nAct]
\n366(26B) With reference to articles 246A, 268, 269,269A and Article 279A includes a
\nUnion territory with Legislature. [Introduced vide 101st Constitutional
\nAmendment Act]
\n“Goods and S<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nCentral Taxes
\nState Taxes
\nState VAT \/ Sales Tax
\nCentral Excise duty
\nAdditional duties of excise
\nunder
\nPurchase Tax
\nCentral Sales Tax
\n6
\nGST
\nINATION
\nTAX
\nMARKET
\nExcise duty levied
\nMedicinal & Toilet Preparation
\nAct
\nAdditional duties of customs
\n(CVD & SAD)
\nService Tax
\nSurcharges & Cesses
\nEntertainment Tax (other than those
\nlevied by local bodies)
\nLuxury Tax
\nEntry Tax (All forms)
\nTaxes on lottery, betting & gambling
\nSurcharges & Cesses
\nGST
\n+13 Cesses
\nConstitution amended to provide concurrent powers to both Centre & States to levy GST (Centre
\nto tax sale of goods and States to tax provision of services)
\nCentral Taxes
\nTax
\nAdministrations
\nCEX\/ST Act & Rules
\nProcedures
\nMultiple State Taxes
\nMultiple State Tax
\nAdministrations
\nMultiple Acts & Rules
\nMultiple procedures
\nPre-GST Indirect tax structure in India
\nSingle Tax-GST
\nSingle Tax
\nAdministration
\nUniform law
\nComputerized
\nuniform procedures
\nCustoms
\nDuty
\nCentral
\nSales Tax
\nCen<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nCouncil to make recommendations on everything related to GST including laws,
\nrules and rates etc.
\n10
\nGST Council Decisions
\nGST
\nINATION
\nTAX
\nMARKET
\n=
\n11
\nGST
\nINATION
\nTAX
\nMARKET
\nImplementation status of GST Council Decisions
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 The Council has met for 34 times and no occasion has arisen so far that required voting to decide any
\nmatter.
\nTill its 34th meeting, GST Council has taken 1064 decisions which include 219 decisions taken by the
\nGST Implementation Council (GIC).
\n\u00c3\u00a2\u00c5\u00e2\u0080\u009c\u00e2\u00e2\u0082\u00ac\u00c5\u0093 1006 decisions have been implemented and only a total of 58 decisions (of which 39 were unique
\nissues) were under implementation.
\n\u00c3\u00a2\u00c5\u00e2\u0080\u009c\u00e2\u00e2\u0082\u00ac\u00c5\u0093 In other words, 94.5% of the decisions of the GST Council have already been implemented, which is
\na significant achievement given the complicated nature and wide area of subjects\/issues involved and
\nthe fact that all decisions were taken unanimously.
\n12
\nNATION
\nTAX
\nRegistration and Threshold (1\/19)
\nGST
\nMARKET
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 <\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nMandatory registration is required for only those e-commerce operators who are required to collect tax at
\nsource.
\nRegistration to remain temporarily suspended while cancellation of registration is under process, so that the
\ntaxpayer is relieved of continued compliance under the law.
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 Revocation of cancellation of those registration, which were cancelled till 31.03.2019, has been allowed. The
\napplication for revocation can be filed till 22.07.2019.
\n13
\nMigration (2\/19)
\nGST
\nINATION
\nTAX
\nMARKET
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 One more window for completion of migration process permitted. Due date for the taxpayers who
\ndid not file the complete FORM GST REG-26 but received only a Provisional ID (PID) till
\n31.12.2017 for furnishing the requisite details to the jurisdictional nodal officer was extended till
\n31.01.2019.
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 Due date for furnishing FORM GSTR-3B and FORM GSTR-1 for the period July, 2017 to February,
\n2019\/quarters July, 2017 to December, 2018 by such taxpayers wa<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nquarterly payment of taxes (along with a simple declaration).
\nA Composition Scheme made available for Suppliers of Services (to those who are not eligible for the
\npresently available Composition Scheme) with a tax rate of 6% (3% CGST +3% SGST) having an
\nAnnual Turnover in the preceding Financial Year up to Rs. 50 lakhs. They would be liable to file one
\nAnnual Return with quarterly payment of taxes (along with a Simple declaration).
\n15
\nGST
\nINATION
\nTAX
\nMARKET
\nTax Administration (4\/19)
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 In order to ensure single interface, all administrative control over 90% of taxpayers
\nhaving turnover below Rs. 1.5 crore would vest with State tax administration and over
\n10% with the Central tax administration. Further, all administrative control over
\ntaxpayers having turnover above Rs.1.5 crore shall be divided equally in the ratio of
\n50% each for the Central and State tax administration.
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 Powers under the IGST Act shall also be cross-empowered on the <\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\npurchased by a promoter for construction of a project as prescribed in notification No. 11\/2017- Central Tax
\n(Rate) dated 28.06.2017,
\n\u00c3\u00a2\u00c5\u00e2\u0080\u009c\u00e2\u00e2\u0082\u00ac\u00c5\u0093 cement which constitute the shortfall from the minimum value of goods or services or both required to be
\npurchased by a promoter for construction of project as prescribed in notification No. 11\/2017- Central Tax (Rate),
\nand
\ncapital goods supplied to a promoter for construction of a project on which tax is payable or paid at the rate
\nprescribed in notification No. 11\/2017- Central Tax (Rate).
\nEarlier, the reverse charge mechanism under sub-section (4) of section 9 of the CGST Act, 2017 and under sub-
\nsection (4) of section 5 of the IGST Act, 2017 was kept under suspension till 30.09.2019.
\n17
\nINATION
\nTAX
\nPayment of Tax (6\/19)
\nGST
\nMARKET
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 There shall be no requirement on payment of tax on advances received for supply of
\ngoods by all taxpayers.
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 A Group of Ministers constituted for promoting digital payme<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nrelation to a claim for refund in FORM GST
\nRFD-01A are being uploaded electronically on
\nthe common portal at the time of filing of the
\nrefund application itself, thereby obviating the
\nneed for a taxpayer to physically visit a tax
\noffice for submission of a refund application.
\nCompletely electronic refund module has also
\nbeen finalized and will be deployed soon.
\nExport
\nGST
\n(7\/19)
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 E-Wallet Scheme shall be introduced for
\nexporters soon and till then relief for
\nexporters shall be given in form of broadly
\nexisting practice.
\nSupply of services to qualify as exports,
\neven if payment is received in Indian
\nRupees, where permitted by the RBI.
\n19
\nGST
\nINATION
\nTAX
\nReturn and Late Fees (8\/19)
\nMARKET
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 All taxpayers are required to file return FORM GSTR-3B & pay tax on monthly basis.
\nTaxpayers with turnover up to Rs. 1.5 Cr are required to file information in FORM GSTR-1 on a
\nquarterly basis.
\n\u00c3\u00a2\u00c5\u00e2\u0080\u009c\u00e2\u00e2\u0082\u00ac\u00c5\u0093 Other taxpayers would have <\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 New return system is simple with two main annexures. One for reporting details of outward
\nsupplies (FORM GST ANX-1) and one for availing input tax credit (FORM GST ANX-2)
\nbased on invoices, etc. uploaded by the supplier.
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 Invoices can be uploaded continuously by the supplier and can be continuously viewed and
\naccepted by the recipient for availing input tax credit. This process would ensure that very large
\npart of the return is auto-populated based on the invoices uploaded by the buyer and the
\nsupplier. Simply put, the process would be “UPLOAD – LOCK-PAY” for most tax payers.
\nTaxpayers would have the facility to create his profile based on nature of supplies made and
\nreceived. The information which a taxpayer would be shown and would be required to fill in the
\nreturn would depend on his profile.
\nNATION
\nTAX
\nNew Return System (Contd.)
\nGST
\nMARKET
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00aa NIL return filers (n<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n“Departmental Policing Model” to a “Self-Declaration Model\u00e2\u00e2\u0082\u00ac\u009d.
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 New provisions in the e-way bill system have been introduced such as the auto calculation of
\ndistance based on PIN codes for the generation of e-way bill and blocking the generation of
\nmultiple e-way bills on one invoice.
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 The generation of e-way bill would be barred if a supplier or recipient does not file GST returns
\nfor 2 consecutive tax periods. This will be made applicable from 21.06.2019.
\n22
\n22
\n23
\nITC
\nTDS\/TCS
\n(11\/19)
\nGST
\nINATION
\nTAX
\nMARKET
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 ITC in relation to invoices issued by the
\nsupplier during FY 2017-18 may be
\navailed by the recipient till the due date for
\nfurnishing of FORM GSTR-3B for the
\nmonth of March, 2019, subject to specified
\nconditions.
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 Due date for submitting FORM GST ITC-
\n04 for the period July 2017 to March 2019
\nwas extended till 30.06.2019.
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00aa TDS\/TCS
\nprovisions implement<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nPlanning), who would study and share the findings with GoM. The GoM in turn would
\ngive its recommendation to the GST Council.
\n24
\n14
\nNATION
\nTAX
\nGST
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009d\u00e2\u00e2\u0082\u00ac\u00b0
\n25
\nReal Estate (13\/19)
\nMARKET
\nGST shall be levied at effective rate of 5% on residential properties outside affordable segment and 1% on affordable housing
\nproperties.
\nDefinition of affordable housing: A residential house\/flat of carpet area of up to 90 sqm in non-metropolitan cities\/towns and
\n60 sqm
\nin metropolitan cities having value up to Rs. 45 lakhs (both for metropolitan and non-metropolitan cities). Metropolitan
\nCities are Bengaluru, Chennai, Delhi NCR (limited to Delhi, Noida, Greater Noida, Ghaziabad, Gurgaon, Faridabad),
\nHyderabad, Kolkata and Mumbai (whole of MMR).
\nGST exemption on TDR\/ JDA, long term lease (premium), FSI: Intermediate tax on development right, such as TDR, JDA,
\nlease (premium), FSI shall be exempted only for such residential property on which GST is payable.<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nGoods and Services within the State of Kerala at a rate not exceeding 1% for a period not exceeding 2
\nyears.
\nKerala Government has, accordingly, decided to levy one per cent. 'Kerala Flood Cess' on value of intra-
\nstate supply of goods by taxable person to an unregistered person in respect of supplies specified in
\nTABLE under sub-clause (2) of clause 14 of the Kerala Finance Bill, 2019.
\nThe said flood cess shall be levied 01.07.2019.
\nKerala government has also decided to allow local bodies to collect entertainment tax on movie tickets up
\nto 10 per cent.
\n27
\nRecent Law amendments w.e.f. 01.02.2019 (15\/19)
\nGST
\nINATION
\nTAX
\nMARKET
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 Scope of input tax credit has been widened, and it would now be made available in respect of
\nthe following:
\nMost of the activities or transactions specified in Schedule III
\n\u00c3\u00a2\u00c5\u00e2\u0080\u009c\u00e2\u00e2\u0082\u00ac\u00c5\u0093 Motor vehicles for transportation of persons having seating capacity of more than thirteen
\n(including d<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\ntaxable territory without such goods entering into India;
\nSupply of warehoused goods to any person before clearance for home consumption;
\nSupply of goods in case of high sea sales.
\nRegistered persons may issue consolidated credit\/debit notes in respect of multiple invoices
\nissued in a Financial Year.
\nAmount of pre-deposit payable for filing of appeal before the Appellate Authority and the
\nAppellate Tribunal capped at Rs. 25 Cr and Rs. 50 Cr respectively.
\nRecovery can be made from distinct persons, even if present in different State\/Union territories.
\n29
\nINATION
\nTAX
\nGST
\nMARKET
\nRecent Law amendments w.e.f. 01.02.2019 (Contd.) (17\/19)
\nAmount of IGST not apportioned to the Centre or the States\/UTs may, for the time being, on the
\nrecommendations of the Council, be apportioned at the rate of fifty per cent. to the Central
\nGovernment and fifty per cent. to the State Governments or the Union territories, as the case
\nmay be, on ad-hoc basi<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nGST
\nMARKET
\nCentralized UIN shall be issued to every Foreign Diplomatic Mission \/ UN Organization by the Central
\nGovernment for handling their refund related applications.
\nRate of interest on delayed payments and delayed refund has been recommended.
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 Supply from GTA to unregistered persons has been exempted from tax.
\n\u00c3\u00a2\u00cb\u00c5\u0093\u00c2\u0090
\nGroup of Ministers has been constituted to examine the GST Rate Structure on Lotteries.
\n\u00c3\u00a2\u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c\u00c2\u00a0 Group of Ministers has been constituted to look into the issues being faced by MSMEs and to provide
\nsolutions for the same.
\n31
\nINATION
\nTAX
\nOther decisions (19\/19)
\nGST
\nMARKET
\nIn principle approval has been given for creation of a Centralized Appellate Authority for Advance Ruling
\n(AAAR) to deal with cases of conflicting decisions by two or more State Appellate Advance Ruling
\nAuthorities on the same issue. This would be implemented once the law is amended.
\nExisting tax incentive sche<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nRegistration mandatory for suppliers of goods only if the turnover exceeds Rs.40 lakhs (Rs.20
\nlakhs in case of States of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland,
\nPuducherry, Sikkim, Telangana, Tripura and Uttarakhand)
\nMain Features of the GST Act (2\/5)
\nOption of Voluntary Registration
\nGST
\nINATION
\nTAX
\nMARKET
\nComposition threshold shall be Rs. 150 lakhs, special category States of Arunachal
\nPradesh, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura and Uttarakhand
\nhave the said limit as Rs. 75 lakhs
\n\u00c3\u00a2\u00c5\u00e2\u0080\u009c\u00e2\u00e2\u0082\u00ac\u00c5\u0093 Composition scheme shall not be available to inter-State suppliers, and specified
\ncategory of manufacturers
\nDeemed Registration in three working days
\nInput Tax Credit available on taxes paid on all procurements (except few specified
\nitems)
\n33
\nINATION
\nGST
\nTAX
\nMARKET
\nMain Features of the GST Act (3\/5)
\nSet of auto-populated Monthly returns and Annual Return
\nComposition taxpayers to file Quarterly retur<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nGST regime
\nSpecial procedures for job work
\n36
\nSystem of GST Compliance Rating
\nAnti-Profiteering provision \u00e2\u00e2\u0082\u00ac\u00e2\u0080\u009c National Anti-Profiteering Authority already set up
\n–
\n\u00c3\u00a2\u00c5\u00e2\u0080\u009c\u00e2\u00e2\u0082\u00ac\u00c5\u0093 Standing Committee on Anti-Profiteering already set up
\n\u00c3\u00a2\u00c5\u00e2\u0080\u009c\u00e2\u00e2\u0082\u00ac\u00c5\u0093 State level Screening Committee already set up
\nBenefits of GST (1\/2)
\n37
\nReduction in Cascading of Taxes
\n1
\n2
\nOverall Reduction in Prices
\nDecrease in
\nInflation
\n3 Common National Market
\n4
\nBenefits to Small Taxpayers
\n5 Self-Regulating Tax System
\n6 Non-Intrusive Electronic Tax System
\nEase of Doing
\nBusiness
\nDecrease in \u00e2\u00e2\u0082\u00ac\u00c5\u0093Black\u00e2\u00e2\u0082\u00ac\u009d
\nTransactions
\nGST
\nINATION
\nTAX
\nMARKET
\nBenefits of GST (2\/2)
\n7 Simplified Tax Regime
\n8 Reduction in Multiplicity of Taxes
\nMore informed
\nconsumer
\n38
\n9 Consumption Based Tax
\nAbolition of CST
\n10
\nPoorer States
\nto Gain
\n11 Exports to be Zero Rated
\n12 Protection of Domestic Ind. – IGST
\nMake in India
\nGST
\nINATION
\nTAX<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nheld by non-Governmental institutions in GSTN amounting to Rs. 5.1 Cr, equally by
\nthe Centre and the State Governments
\n40
\n40
\nGoods and Service Tax Network (3\/4)
\nHarmonization of Business Processes and
\nFormats
\nGST
\nINATION
\nTAX
\nMARKET
\nAutonomy of back-end systems of States
\nand Centre
\nCommon & Shared
\nIT Infrastructure
\nCore Services
\n–
\nRegistration
\n–
\nReturns
\nPayments
\nHelpdesk support
\nInformation on Inter-State supply and cross-
\ncredit utilization
\nAnalytics
\nIGST Settlement
\nFront-end
\nNon-Statutory Functions
\nIT
\nInterfaces
\nStatutory Functions
\nCentre\/States
\nTax IT Systems
\n\u00e2\u00e2\u0082\u00ac\u00a2
\nApproval of Registration
\n\u00e2\u00e2\u0082\u00ac\u00a2
\n\u00e2\u00e2\u0082\u00ac\u00a2
\n\u00e2\u00e2\u0082\u00ac\u00a2
\n\u00e2\u00e2\u0082\u00ac\u00a2
\n\u00e2\u00e2\u0082\u00ac\u00a2
\nAssessment
\nRefunds
\nAudit and Enforcement
\nAdjudication
\nInternal workflows to support above
\nfunctions
\nRecovery
\nAnalytics and BI
\nBack-end
\nGoods and Service Tax Network (4\/4)
\nTaxpayer
\nOffline Utility Taxpayer
\nTaxpayer
\nTaxpayer
\nDesktop
\nMobile
\nBrowser
\nDesktop Browser\n<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nOutreach programs for Trade and Industry
\nDirector General of Anti- Profiteering, CBIC has been mandated to conduct detailed
\nenquiry on anti-profiteering cases
\n44
\nPradhan Mantri
\nKaushal Vikas Yojana,
\n(PMKVY)
\nGST
\nStart-Up
\nIndia
\nwww.cbic.gov.in led
\nwww.cbic-gst.gov.inent
\nCBIC Help Desk
\nToll Free: 1800 1200 232
\nEmail: cbecmitra.helpdesk@icegate.gov.in
\nMake
\nin India
\nGST
\nNATION
\nTAX
\nMARKET
\nDigital
\nIndia
\nPradhan Mantri
\nMudra Yojana
\n(
\nPMMY
\n)
\nGSTN Help Desk
\nToll Free: 0124-4688999
\nEmail: helpdesk@gst.gov.in
\n\u00c3\u00a0\u00c2\u00a4\u00c2\u00b6\u00c3\u00a0\u00c2\u00a5\u00c2\u0081\u00c3\u00a0\u00c2\u00a4\u00c2\u00b2\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00a2 \u00c3\u00a0\u00c2\u00a4\u00c2\u008f\u00c3\u00a0\u00c2\u00a4\u00c2\u00b5\u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00c5\u00a1
\nMS AND
\n\u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00a2\u00c3\u00a0\u00c2\u00a5\u00e2\u00e2\u0082\u00ac\u00a1\u00c3\u00a0\u00c2\u00a4\u00c2\u00a8\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3\u00a0\u00c2\u00a4\u00c2\u00a6\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3\u00a0\u00c2\u00a4\u00c2\u00b0\u00c3\u00a0\u00c2\u00a5\u00e2\u00e2\u0080\u009a\u00ac\u00c3\u00a0\u00c2\u00a4\u00c2\u00af
\n\u00c3\u00a0\u00c2\u00a4\u00c2\u00af\u00c3\u00a0\u00c2\u00a4\u00c2\u00bf \u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00b0\u00c3\u00a0\u00c2\u00a4\u00c2\u00a4\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3\u00a0\u00c2\u00a4\u00c2\u00aa\u00c3\u00a0\u00c2\u00a4\u00c2\u00be\u00c3\u00a0\u00c2\u00a4\u00c2\u00a6
\nCENTRAL
\nCOP
\n\u00c3\u00a0\u00c2\u00a4\u00c2\u00b8\u00c3\u00a0\u00c2\u00a4\u00c2\u00a4\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3\u00a0\u00c2\u00a4\u00c2\u00af\u00c3\u00a0\u00c2\u00a4\u00c2\u00ae\u00c3\u00a0\u00c2\u00a5\u00e2\u00e2\u0082\u00ac\u00a1\u00c3\u00a0\u00c2\u00a4\u00c2\u00b5 \u00c3\u00a0\u00c2\u00a4\u00c5\u00e2\u0080\u009c\u00c3\u00a0\u00c2\u00a4\u00c2\u00af\u00c3\u00a0\u00c2\u00a4\u00c2\u00a4\u00c3\u00a0\u00c2\u00a5\u00e2\u00e2\u0082\u00ac\u00a1
\n\u00c3\u00a0\u00c2\u00a4\u00c2\u00ad\u00c3\u00a0\u00c2\u00a4\u00c2\u00be\u00c3\u00a0\u00c2\u00a4\u00c2\u00b0\u00c3\u00a0\u00c2\u00a4\u00c2\u00a4 \u00c3\u00a0\u00c2\u00a4\u00c2\u00b8\u00c3\u00a0\u00c2\u00a4\u00c2\u00b0\u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00a2\u00c3\u00a0\u00c2\u00a4\u00c2\u00be\u00c3\u00a0\u00c2\u00a4\u00c2\u00b0
\nGOVERNMENT
\nOF INDIA
\n\u00e2\u00e2\u0082\u00ac\u00a2 \u00c3\u00a0\u00c2\u00a4\u00c2\u00b6\u00c3\u00a0\u00c2\u00a5\u00c2\u0081\u00c3\u00a0\u00c2\u00a4\u00c2\u00b2\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3\u00a0\u00c2\u00a4\u00e2\u00e2\u0082\u00ac\u00a2
\n\u00e2\u00e2\u0082\u00ac\u00a2 \u00c3\u00a0\u00c2\u00a4\u00c2\u00a6\u00c3\u00a0\u00c2\u00a5\u00e2\u00e2\u0082\u00ac\u00a1\u00c3\u00a0\u00c2\u00a4\u00c2\u00b6\u00c3\u00a0\u00c2\u00a4\u00c2\u00b8\u00c3\u00a0\u00c2\u00a5\u00e2\u00e2\u0082\u00ac\u00a1\u00c3\u00a0\u00c2\u00a4\u00c2\u00b5\u00c3\u00a0\u00c2\u00a4\u00c2\u00be\u00c3\u00a0\u00c2\u00a4\u00c2\u00b0\u00c3\u00a0\u00c2\u00a5\u00c2\u008d\u00c3<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n