READING DOWN MODEL IGST ACT (MISCELLANEOUS PROVISIONS)(LAST PART-12)
By: – Dr. Sanjiv Agarwal
Goods and Services Tax – GST
Dated:- 5-8-2016<\/p>\n
The part of the series of articles on IGST covers the following provisions
\nChapter
\nSections
\nIn Relation to
\nIX
\n27 to 30
\nMiscellaneous Provisions
\nX
\n31
\nTransitional Provisions
\nXI
\n32, 33
\nAdministration of IGST
\nMiscellaneous Provisions
\nApplication of Provisions of CGST Act
\nSection 27 provides that certain provisions of the CGST Act, 2016 shall apply to IGST also in the manner they apply to levy of tax under CGST Act.
\nThese provisions relate to –
\n * registration,
\n * valuation,
\n * time of supply of goods,
\n * time of supply of services,
\n * change in rate of tax in respect of supply of services,
\n * exemption from payment of tax,
\n * input tax credit and utilization thereof,
\n * accounts and records,
\n * payment,
\n * return,
\n * audit,
\n * assessment,
\n * adjudication,
\n * demands,
\n * refunds,
\n * interest,
\n * recove<\/p>\n
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\nSection 29 provides for interest on delayed payment of tax or failure to pay tax within the prescribed period. The rate of interest shall be notified by the Central Government on the recommendation of the GST Council. The interest shall be paid for the period of delay, i.e. from the first day the tax is due to be paid to the actual date of payment or actual number of days of delay. Interest shall be applicable on the tax or any part thereof. It has been provided, unlike in the present provisions, that the person liable to pay interest shall pay interest on his own. This would mean that the liability to pay interest is automatic and no demand notice \/ adjudication would be necessary to confirm demand of interest.
\nIf the liability to pay tax is there, which is not paid within stipulated period, interest shall be payable which has to be paid suo motu. It is also provided that in case of undue \/ wrong \/ excess claim of input tax credit under the provisions of CGST Act (sectio<\/p>\n
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\nTransitional Provisions
\nSection 31 contains the transitional provisions which will take care of applicability of provisions for transactions which are into transition (i.e. pending) as on the appointed day, i.e. the date from which IGST law shall come into force.
\nIt applies to import of services or inter-state supply of goods and \/ or services made on or after the appointed day. This provision shall over ride the provisions of 12 and 13 of CGST Act which deal with time of supply of goods and services.
\nWhen IGST comes into force, there could be two type of transactions –
\n * transaction initiated before the appointed day (date of commencement of IGST<\/p>\n
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\nAppointed day
\nProvisions applicable
\n *
\n Import \/ inter-state supply of goods or services
\nMade after but initiated before
\nTax as per IGST Law
\n Full tax on import \/ inter-state supply of goods or services as per (a) above
\nPaid before
\nNo tax under IGST Law
\n Part tax on import \/ inter-state or services as per (a) above
\nPaid before
\nBalance tax payable under IGST Law
\nAdministration
\n Section 32 prescribes the classes of Officers under the IGST Act who may be Assistant Commissioner of IGST or Assistant Director of IGST upto Principal Chief Commissioner of IGST or Principal Director General of IGST.
\nThere shall be the following classes of officers under the Integrated Goods and Services Tax Act, 2016, namely;
\n * Principal Chief Commissioner of IGST; or
\nPrincipal Directors General of IGST,
\n\tChief Commissioner of IGST, or
\nDirector General of IGST,
\n\tPrincipal Commissioners of IGST, or
\nPrincipal Additional Directors General of IGST,
\n\tCommissioners of IGST, or
\nAdditi<\/p>\n
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