The document summarizes key changes between the old model GST law from November 2016 and the GST bill introduced in March 2017. Some key changes include:
1) The applicability of the act was extended to the whole of India except Jammu and Kashmir. Some provisions may be implemented at later dates.
2) Definitions were aligned and some were deleted or added, such as for central goods and services tax act, continuous journey, and intermediary.
3) The tax under the Integrated Goods and Services Act will be called the "integrated tax".
The Arbitration and Conciliation (Amendment) Ordinance, 2015 Impact on law l...Singhania2015
In recent times there has been a rapid increase in commerce and industry which has led to parties resorting to arbitration to avoid delayed and protracted litigation. However, in India, the Arbitration and Conciliation Act, 1996 was failing to serve the purpose of alternate dispute resolution.
This document is the Integrated Goods and Services Tax Bill, 2017. It contains 25 definitions that are relevant for understanding and implementing the Integrated Goods and Services Tax. Key terms defined include integrated tax, place of supply, export and import of goods and services, online information and database access services, and zero-rated supply. The bill aims to levy and collect tax on inter-state supply of goods or services by the Central Government.
MINING INDUSTRY: A critical analysis through application of Rule 12(10) of MC...Biswajit Das
This document summarizes and analyzes a legal challenge brought by mining lessees in India to notices issued by the state government under Rule 12(10) of the Mining Rules, 2016. The lessees challenged the notices on 8 broad grounds, arguing that compensation amounts under section 21(5) of the mining law are not covered by Rule 12(10). However, the document argues that the lessees' challenges were narrow, hyper-technical and self-defeating, and that the litigation could have been avoided by addressing the core issues regarding the compensation demands. The mining tribunal ultimately dismissed the challenges and upheld the state's right to recover the amounts, but its decision drew the process into additional adverse consequences beyond the
The document summarizes recent regulatory changes from the Securities and Exchange Board of India (SEBI) and Central Board of Direct Taxes (CBDT) in India. Specifically, it mentions that SEBI has introduced new regulations requiring the top 500 listed companies to disclose dividend distribution policies. It also notes that CBDT has revised income tax notice formats and clarified that interest paid by offshore banking units is not subject to tax deduction. Additionally, it outlines amendments made to the Delhi Value Added Tax Act, including allowing advance tax payment on certain imports and requiring electronic filing of returns.
This document provides guidance to reporting persons on submitting statements of financial transactions (SFT) as required by Section 285BA of the Income Tax Act. It outlines:
1) The types of transactions that must be reported and the applicable reporting thresholds.
2) The procedure for registering with the Income Tax Department and submitting SFT forms, including downloading the necessary files from the e-filing website.
3) General guidelines for preparing SFT forms, including identifying reportable transactions and applying aggregation rules to determine reporting thresholds.
4) The required reporting format which differs based on the transaction type being person, account, or property transaction based. Reporting persons must submit separate SFT forms for each transaction type.
GST Provisions relating to Export, import, sez etcCA Mukesh Sharma
The document discusses key aspects of export and import of goods and services under GST. It explains that export of goods is treated as zero-rated supply and does not require fulfillment of additional conditions like export of services. Import of goods into India would be treated as an inter-state supply and subject to integrated tax. The document also discusses important points regarding imports including time and place of levy of tax, availability of input tax credit, and valuation for tax purposes. High sea sales occurring before goods cross Indian customs frontiers are treated as inter-state supplies subject to integrated tax.
This newsletter provides a summary of recent changes and updates in the areas of:
1) Indirect taxes - Changes in duty rates for gold, silver, and other goods through new notifications.
2) FEMA regulations - Qualified foreign investors now allowed direct investment in Indian stock markets.
3) Corporate law - Guidelines issued on KYC regulations and in-person verification as per new SEBI rules. The newsletter also provides a brief overview of the company and its mission.
The document summarizes recent regulatory changes by the Reserve Bank of India (RBI) and the Ministry of Corporate Affairs (MCA) in India. It discusses:
1) RBI rationalizing overseas direct investment reporting forms and allowing online reporting.
2) RBI providing details on issuing rupee denominated bonds overseas and instructions on submitting annual performance reports for overseas investments.
3) MCA extending deadlines for filing various e-forms and notifying new e-form versions.
4) The Indian government exempting 10 types of government services from service tax and making amendments to service tax determination rules and point of taxation rules regarding government services.
The Arbitration and Conciliation (Amendment) Ordinance, 2015 Impact on law l...Singhania2015
In recent times there has been a rapid increase in commerce and industry which has led to parties resorting to arbitration to avoid delayed and protracted litigation. However, in India, the Arbitration and Conciliation Act, 1996 was failing to serve the purpose of alternate dispute resolution.
This document is the Integrated Goods and Services Tax Bill, 2017. It contains 25 definitions that are relevant for understanding and implementing the Integrated Goods and Services Tax. Key terms defined include integrated tax, place of supply, export and import of goods and services, online information and database access services, and zero-rated supply. The bill aims to levy and collect tax on inter-state supply of goods or services by the Central Government.
MINING INDUSTRY: A critical analysis through application of Rule 12(10) of MC...Biswajit Das
This document summarizes and analyzes a legal challenge brought by mining lessees in India to notices issued by the state government under Rule 12(10) of the Mining Rules, 2016. The lessees challenged the notices on 8 broad grounds, arguing that compensation amounts under section 21(5) of the mining law are not covered by Rule 12(10). However, the document argues that the lessees' challenges were narrow, hyper-technical and self-defeating, and that the litigation could have been avoided by addressing the core issues regarding the compensation demands. The mining tribunal ultimately dismissed the challenges and upheld the state's right to recover the amounts, but its decision drew the process into additional adverse consequences beyond the
The document summarizes recent regulatory changes from the Securities and Exchange Board of India (SEBI) and Central Board of Direct Taxes (CBDT) in India. Specifically, it mentions that SEBI has introduced new regulations requiring the top 500 listed companies to disclose dividend distribution policies. It also notes that CBDT has revised income tax notice formats and clarified that interest paid by offshore banking units is not subject to tax deduction. Additionally, it outlines amendments made to the Delhi Value Added Tax Act, including allowing advance tax payment on certain imports and requiring electronic filing of returns.
This document provides guidance to reporting persons on submitting statements of financial transactions (SFT) as required by Section 285BA of the Income Tax Act. It outlines:
1) The types of transactions that must be reported and the applicable reporting thresholds.
2) The procedure for registering with the Income Tax Department and submitting SFT forms, including downloading the necessary files from the e-filing website.
3) General guidelines for preparing SFT forms, including identifying reportable transactions and applying aggregation rules to determine reporting thresholds.
4) The required reporting format which differs based on the transaction type being person, account, or property transaction based. Reporting persons must submit separate SFT forms for each transaction type.
GST Provisions relating to Export, import, sez etcCA Mukesh Sharma
The document discusses key aspects of export and import of goods and services under GST. It explains that export of goods is treated as zero-rated supply and does not require fulfillment of additional conditions like export of services. Import of goods into India would be treated as an inter-state supply and subject to integrated tax. The document also discusses important points regarding imports including time and place of levy of tax, availability of input tax credit, and valuation for tax purposes. High sea sales occurring before goods cross Indian customs frontiers are treated as inter-state supplies subject to integrated tax.
This newsletter provides a summary of recent changes and updates in the areas of:
1) Indirect taxes - Changes in duty rates for gold, silver, and other goods through new notifications.
2) FEMA regulations - Qualified foreign investors now allowed direct investment in Indian stock markets.
3) Corporate law - Guidelines issued on KYC regulations and in-person verification as per new SEBI rules. The newsletter also provides a brief overview of the company and its mission.
The document summarizes recent regulatory changes by the Reserve Bank of India (RBI) and the Ministry of Corporate Affairs (MCA) in India. It discusses:
1) RBI rationalizing overseas direct investment reporting forms and allowing online reporting.
2) RBI providing details on issuing rupee denominated bonds overseas and instructions on submitting annual performance reports for overseas investments.
3) MCA extending deadlines for filing various e-forms and notifying new e-form versions.
4) The Indian government exempting 10 types of government services from service tax and making amendments to service tax determination rules and point of taxation rules regarding government services.
GST rolled out in India from 01/07/2017. Changes have been made very frequently. I have made an attempt to clarify the GST law related to exports/SEZ supplies and Deemed exports, issues in GST law vis-a-vis exports/SEZ supplies and Deemed exports.
Suggestions and queries are cordially invited.
This document is the official journal of the Patent Office published on a weekly basis every Friday. It provides information about various patent proceedings as required by law. The journal contains notices regarding early patent publications, publications after 18 months, and publications regarding granted patents from different patent offices located across India. It also provides addresses and contact details of the different patent offices delineated by their territorial jurisdictions. The document aims to inform the public about patent-related matters and seeks suggestions to improve its content.
The President of India has given its assent to the Companies (Amendment) Bill, 2019, which further amends the Companies Act, 2013 (the Act). The Companies (Amendment) Bill, 2019 has been now published in the Official Gazette on 31 July 2019 as the Companies (Amendment) Act, 2019 (the
Amendment Act).
The Amendment Act has taken into consideration the amendments that were originally notified in the Companies (Amendment) Ordinance, 2018 which was promulgated by the President on 2 November 2018, and then retained in effect through the Companies (Amendment) Ordinance Act, 2019 and the Companies (Amendment) Second Ordinance, 2019 promulgated by the President on 12 January 2019 and 21 February 2019, respectively.
Gst with exports notes of sg institute export import expertiseSANJAY SONAWANE
SG Institute of Tax & Exim Management : Part Time Short Terms Advanced Certificate Courses On Export Import Management & Direct Indirect Taxes , Including Latest Complete Goods & Service Tax(GST)
The document discusses key provisions of the Insolvency and Bankruptcy Code (IBC) 2016 and its relationship with the Income Tax Act 1961. Some key points:
- IBC aims to consolidate insolvency laws and provide a time-bound resolution process for insolvent companies, individuals, and partnerships.
- IBC overrides any other inconsistent law due to its non-obstante clause. Amendments were made to the Income Tax Act to ensure consistency with IBC.
- Tax authorities can file claims under IBC like other operational creditors but do not have voting rights in the Committee of Creditors. Their claims also do not take precedence over secured creditors.
- During the corporate
Any Person appointed by the Taxable Person to assist him in fulfilling his Tax
obligations.
44. Tax Agent: Any Person licensed by the Authority to represent Taxable Persons before it.
45. Tax Representative: Any Person appointed by a Non-Resident Person to fulfill his Tax
obligations in the Kingdom.
46. Tax Period: The period for which the Tax Return is filed and the Tax is paid.
47. Standard Rate: The standard rate of Tax imposed on Taxable Supplies.
48. Zero Rate: The rate of zero percent (0%) imposed on certain Taxable Supplies.
49. Tax Invoice: The document issued by the Taxable Person to the
SEBI drops charges against Prannoy Roy, Radhika Roy and RRPR holdingsNewslaundry
The document is an adjudication order from the Securities and Exchange Board of India regarding alleged violations of disclosure regulations by Mr. Prannoy Roy, Ms. Radhika Roy, and RRPR Holdings Pvt Ltd regarding their shareholdings in New Delhi Television Ltd. The order finds that while the promoters were initially alleged to have delayed disclosures to stock exchanges, documentation and confirmation from the exchanges shows the disclosures were in fact made on time. As such, the adjudicating officer disposes of the proceedings and finds no penalty is warranted.
Patent Office in India publishes patent and design registration information on a weekly basis (on Friday each week). This is public notification, enabling the public to take appropriate action if desired. Data published on October 24th, 2014. Data sourced from Indian Patent Office website by InvnTree IP Service Pvt Ltd, a patent services company based in Bangalore
This notification outlines new rules for the registration of foreign companies in India under the Companies Act, 2013. Some key points:
- It defines terms like "electronic mode", "fees", and "forms" for registration.
- Foreign companies must deliver details of directors and secretaries to the Registrar within 30 days of establishing a place of business in India.
- Financial statements must be prepared according to Schedule III of the Companies Act and additional documents like related party transactions must be attached.
- Accounts must be audited by a chartered accountant in India.
- An annual return must be filed within 60 days of the financial year end with details of places of business.
This document is the Chartered Accountants Act of 1949 which established the Institute of Chartered Accountants of India (ICAI). Some key points:
- It created ICAI as a corporate body to regulate the profession of chartered accountancy in India.
- ICAI maintains a register of members which qualified individuals can have their names entered in, including those who have passed certain exams/training.
- Members of ICAI are divided into Associates and Fellows, with Associates being entry-level and Fellows having additional qualifications/experience.
- Members must obtain an annual Certificate of Practice from ICAI to be allowed to practice as a chartered accountant in India.
RBI permits foreign venture capital investors to invest in startupsKunal Gandhi
This document contains amendments made to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 by the Reserve Bank of India. The key amendments include inserting new definitions for Category I Alternative Investment Fund and startup, substituting provisions related to investment by registered Foreign Venture Capital Investors, and substituting Schedule 6 which outlines the terms of investment by registered Foreign Venture Capital Investors. The amendments allow Foreign Venture Capital Investors greater flexibility in investing in startups and Category I Alternative Investment Funds in India.
This document is the official journal of the Patent Office published on a weekly basis every Friday. It covers various proceedings related to patents as required by law. It provides addresses of the different patent offices located across India along with their territorial jurisdictions. It also contains information about various patent-related procedures, forms, and fees. The contents section lists the different items included in the current issue, such as details of early patent publications, publications after 18 months, granted patents, designs, and copyright information.
This document provides an overview of taxation of non-residents in India. It defines non-residents under the Foreign Exchange Management Act and Income Tax Act and compares the definitions. It discusses the taxation of various types of income for non-residents such as business income, salaries, dividends, interest, royalties and fees for technical services based on the source rule. It also covers computation of income, exemptions, tax deduction at source, impact of tax treaties, and recent amendments introduced in the Finance Bill 2012.
AMENDMENTS TO SARFAESI ACT/RULES/DRT ACT AND RULES WHICH HAVE BEEN ENFORCEDMukesh Chand
The document summarizes key amendments to the Security Interest (Enforcement) Rules, 2002 and the Debt Recovery Tribunal (Procedure) Rules, 1993 in India that came into effect from November 4, 2016. Some of the major changes include:
1) Allowing delivery of notices by hand delivery in addition to other modes.
2) Reducing the notice period for subsequent auctions of secured assets from 30 days to 15 days.
3) Allowing service of notices via email in addition to other modes.
4) Providing for public auctions, including e-auctions of secured assets.
5) Reducing timelines for filing written statements and replies in DRT recovery applications.
Patent Office in India publishes patent and design registration information on a weekly basis (on Friday each week). This is public notification, enabling the public to take appropriate action if desired. Data published on December 12th, 2014. Data sourced from Indian Patent Office website by InvnTree IP Service Pvt Ltd, a patent services company based in Bangalore
This document is Mongolia's Law on Value-Added Tax from June 29, 2006. It outlines key definitions related to VAT, establishes who qualifies as a VAT taxpayer and how they are registered, specifies what goods, works and services are subject to VAT, and establishes procedures for imposing and calculating VAT rates. Key points include: VAT applies to imported/exported goods and domestic sales/services; taxpayers must register with tax authorities; a 10% VAT rate generally applies, but some items have a 0% rate or are exempt; taxable amounts are based on market prices; VAT is imposed when goods/services are sold, imported or exported.
This document is the official journal of the Patent Office for the date 07/03/2014. It provides information on various patent proceedings required according to the Patents Act, 1970.
It begins with an introduction by the Controller General explaining the purpose of the journal. It then provides the table of contents which lists the various sections included - such as jurisdictions, notices, early publications of applications from various Patent Offices, publications of applications after 18 months from various Patent Offices, amendments, publications regarding grants, designs etc.
The document is the weekly official publication of the Patent Office that contains information related to patents as per the Patents Act and Rules.
This document is the official journal of the Patent Office published on a weekly basis. It covers various patent proceedings as required by law. It provides addresses of the different Patent Office jurisdictions across India. It also contains notices regarding filing of oppositions to patent applications before grants and availability of copies of published applications. The journal includes sections for early patent publications, publications after 18 months and other proceedings like amendments, restorations and grants.
This document summarizes a court case between Andrew Walker and the Co-operative Insurance Society regarding payment during Walker's annual leave periods. Walker, an insurance agent employed by CIS, claimed he had not been properly paid in accordance with the Working Time Regulations 1998. The court document outlines the contractual terms of Walker's employment, including his entitlement to 23 days of paid annual leave, and discusses how CIS's payment system operated during his leave periods. It also examines the relevant provisions of the Working Time Regulations 1998 and Employment Rights Act 1996 regarding payment during annual leave.
This document is the official journal of the Patent Office published on June 20, 2014. It provides information on various patent office proceedings as required by law. The journal contains sections on jurisdiction of various patent offices, special notices, early patent publications, publications after 18 months, design publications and other proceedings. It provides addresses and contact details of the five patent offices located across India and their territorial jurisdictions. It notifies about representation by way of opposition that can be made before grant of a patent. It also provides information on how to request copies of patent publications.
This document summarizes the compulsory registration requirements under the Goods and Services Tax (GST) law in India. It outlines the aggregate turnover thresholds for requiring registration in different states and union territories. It also lists other specified cases where registration is compulsory, such as for inter-state suppliers, e-commerce operators, and persons supplying online information from outside India. The document provides definitions and explanations of key terms related to registration such as "person", "supplier", "business vertical", and "supply". It was prepared by Pradeep Goyal, a Chartered Accountant, for educational purposes to provide a general understanding of the GST registration requirements, not professional tax advice.
This document provides definitions and concepts related to customs law in India. It defines key terms like customs duty, imported goods, customs area, person-in-charge, and others. It also discusses circumstances of levy and exemption from customs duty. Some key points covered are:
- Customs duty is levied by the Central Government of India as per the Constitution.
- Imported goods mean goods brought into India from outside. Stores consumed on board vessels are exempt from duty.
- Customs area refers to the area where imported/exported goods are kept before customs clearance.
- Person-in-charge of different types of conveyances like vessel, aircraft, train, vehicle is defined.
GST rolled out in India from 01/07/2017. Changes have been made very frequently. I have made an attempt to clarify the GST law related to exports/SEZ supplies and Deemed exports, issues in GST law vis-a-vis exports/SEZ supplies and Deemed exports.
Suggestions and queries are cordially invited.
This document is the official journal of the Patent Office published on a weekly basis every Friday. It provides information about various patent proceedings as required by law. The journal contains notices regarding early patent publications, publications after 18 months, and publications regarding granted patents from different patent offices located across India. It also provides addresses and contact details of the different patent offices delineated by their territorial jurisdictions. The document aims to inform the public about patent-related matters and seeks suggestions to improve its content.
The President of India has given its assent to the Companies (Amendment) Bill, 2019, which further amends the Companies Act, 2013 (the Act). The Companies (Amendment) Bill, 2019 has been now published in the Official Gazette on 31 July 2019 as the Companies (Amendment) Act, 2019 (the
Amendment Act).
The Amendment Act has taken into consideration the amendments that were originally notified in the Companies (Amendment) Ordinance, 2018 which was promulgated by the President on 2 November 2018, and then retained in effect through the Companies (Amendment) Ordinance Act, 2019 and the Companies (Amendment) Second Ordinance, 2019 promulgated by the President on 12 January 2019 and 21 February 2019, respectively.
Gst with exports notes of sg institute export import expertiseSANJAY SONAWANE
SG Institute of Tax & Exim Management : Part Time Short Terms Advanced Certificate Courses On Export Import Management & Direct Indirect Taxes , Including Latest Complete Goods & Service Tax(GST)
The document discusses key provisions of the Insolvency and Bankruptcy Code (IBC) 2016 and its relationship with the Income Tax Act 1961. Some key points:
- IBC aims to consolidate insolvency laws and provide a time-bound resolution process for insolvent companies, individuals, and partnerships.
- IBC overrides any other inconsistent law due to its non-obstante clause. Amendments were made to the Income Tax Act to ensure consistency with IBC.
- Tax authorities can file claims under IBC like other operational creditors but do not have voting rights in the Committee of Creditors. Their claims also do not take precedence over secured creditors.
- During the corporate
Any Person appointed by the Taxable Person to assist him in fulfilling his Tax
obligations.
44. Tax Agent: Any Person licensed by the Authority to represent Taxable Persons before it.
45. Tax Representative: Any Person appointed by a Non-Resident Person to fulfill his Tax
obligations in the Kingdom.
46. Tax Period: The period for which the Tax Return is filed and the Tax is paid.
47. Standard Rate: The standard rate of Tax imposed on Taxable Supplies.
48. Zero Rate: The rate of zero percent (0%) imposed on certain Taxable Supplies.
49. Tax Invoice: The document issued by the Taxable Person to the
SEBI drops charges against Prannoy Roy, Radhika Roy and RRPR holdingsNewslaundry
The document is an adjudication order from the Securities and Exchange Board of India regarding alleged violations of disclosure regulations by Mr. Prannoy Roy, Ms. Radhika Roy, and RRPR Holdings Pvt Ltd regarding their shareholdings in New Delhi Television Ltd. The order finds that while the promoters were initially alleged to have delayed disclosures to stock exchanges, documentation and confirmation from the exchanges shows the disclosures were in fact made on time. As such, the adjudicating officer disposes of the proceedings and finds no penalty is warranted.
Patent Office in India publishes patent and design registration information on a weekly basis (on Friday each week). This is public notification, enabling the public to take appropriate action if desired. Data published on October 24th, 2014. Data sourced from Indian Patent Office website by InvnTree IP Service Pvt Ltd, a patent services company based in Bangalore
This notification outlines new rules for the registration of foreign companies in India under the Companies Act, 2013. Some key points:
- It defines terms like "electronic mode", "fees", and "forms" for registration.
- Foreign companies must deliver details of directors and secretaries to the Registrar within 30 days of establishing a place of business in India.
- Financial statements must be prepared according to Schedule III of the Companies Act and additional documents like related party transactions must be attached.
- Accounts must be audited by a chartered accountant in India.
- An annual return must be filed within 60 days of the financial year end with details of places of business.
This document is the Chartered Accountants Act of 1949 which established the Institute of Chartered Accountants of India (ICAI). Some key points:
- It created ICAI as a corporate body to regulate the profession of chartered accountancy in India.
- ICAI maintains a register of members which qualified individuals can have their names entered in, including those who have passed certain exams/training.
- Members of ICAI are divided into Associates and Fellows, with Associates being entry-level and Fellows having additional qualifications/experience.
- Members must obtain an annual Certificate of Practice from ICAI to be allowed to practice as a chartered accountant in India.
RBI permits foreign venture capital investors to invest in startupsKunal Gandhi
This document contains amendments made to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 by the Reserve Bank of India. The key amendments include inserting new definitions for Category I Alternative Investment Fund and startup, substituting provisions related to investment by registered Foreign Venture Capital Investors, and substituting Schedule 6 which outlines the terms of investment by registered Foreign Venture Capital Investors. The amendments allow Foreign Venture Capital Investors greater flexibility in investing in startups and Category I Alternative Investment Funds in India.
This document is the official journal of the Patent Office published on a weekly basis every Friday. It covers various proceedings related to patents as required by law. It provides addresses of the different patent offices located across India along with their territorial jurisdictions. It also contains information about various patent-related procedures, forms, and fees. The contents section lists the different items included in the current issue, such as details of early patent publications, publications after 18 months, granted patents, designs, and copyright information.
This document provides an overview of taxation of non-residents in India. It defines non-residents under the Foreign Exchange Management Act and Income Tax Act and compares the definitions. It discusses the taxation of various types of income for non-residents such as business income, salaries, dividends, interest, royalties and fees for technical services based on the source rule. It also covers computation of income, exemptions, tax deduction at source, impact of tax treaties, and recent amendments introduced in the Finance Bill 2012.
AMENDMENTS TO SARFAESI ACT/RULES/DRT ACT AND RULES WHICH HAVE BEEN ENFORCEDMukesh Chand
The document summarizes key amendments to the Security Interest (Enforcement) Rules, 2002 and the Debt Recovery Tribunal (Procedure) Rules, 1993 in India that came into effect from November 4, 2016. Some of the major changes include:
1) Allowing delivery of notices by hand delivery in addition to other modes.
2) Reducing the notice period for subsequent auctions of secured assets from 30 days to 15 days.
3) Allowing service of notices via email in addition to other modes.
4) Providing for public auctions, including e-auctions of secured assets.
5) Reducing timelines for filing written statements and replies in DRT recovery applications.
Patent Office in India publishes patent and design registration information on a weekly basis (on Friday each week). This is public notification, enabling the public to take appropriate action if desired. Data published on December 12th, 2014. Data sourced from Indian Patent Office website by InvnTree IP Service Pvt Ltd, a patent services company based in Bangalore
This document is Mongolia's Law on Value-Added Tax from June 29, 2006. It outlines key definitions related to VAT, establishes who qualifies as a VAT taxpayer and how they are registered, specifies what goods, works and services are subject to VAT, and establishes procedures for imposing and calculating VAT rates. Key points include: VAT applies to imported/exported goods and domestic sales/services; taxpayers must register with tax authorities; a 10% VAT rate generally applies, but some items have a 0% rate or are exempt; taxable amounts are based on market prices; VAT is imposed when goods/services are sold, imported or exported.
This document is the official journal of the Patent Office for the date 07/03/2014. It provides information on various patent proceedings required according to the Patents Act, 1970.
It begins with an introduction by the Controller General explaining the purpose of the journal. It then provides the table of contents which lists the various sections included - such as jurisdictions, notices, early publications of applications from various Patent Offices, publications of applications after 18 months from various Patent Offices, amendments, publications regarding grants, designs etc.
The document is the weekly official publication of the Patent Office that contains information related to patents as per the Patents Act and Rules.
This document is the official journal of the Patent Office published on a weekly basis. It covers various patent proceedings as required by law. It provides addresses of the different Patent Office jurisdictions across India. It also contains notices regarding filing of oppositions to patent applications before grants and availability of copies of published applications. The journal includes sections for early patent publications, publications after 18 months and other proceedings like amendments, restorations and grants.
This document summarizes a court case between Andrew Walker and the Co-operative Insurance Society regarding payment during Walker's annual leave periods. Walker, an insurance agent employed by CIS, claimed he had not been properly paid in accordance with the Working Time Regulations 1998. The court document outlines the contractual terms of Walker's employment, including his entitlement to 23 days of paid annual leave, and discusses how CIS's payment system operated during his leave periods. It also examines the relevant provisions of the Working Time Regulations 1998 and Employment Rights Act 1996 regarding payment during annual leave.
This document is the official journal of the Patent Office published on June 20, 2014. It provides information on various patent office proceedings as required by law. The journal contains sections on jurisdiction of various patent offices, special notices, early patent publications, publications after 18 months, design publications and other proceedings. It provides addresses and contact details of the five patent offices located across India and their territorial jurisdictions. It notifies about representation by way of opposition that can be made before grant of a patent. It also provides information on how to request copies of patent publications.
This document summarizes the compulsory registration requirements under the Goods and Services Tax (GST) law in India. It outlines the aggregate turnover thresholds for requiring registration in different states and union territories. It also lists other specified cases where registration is compulsory, such as for inter-state suppliers, e-commerce operators, and persons supplying online information from outside India. The document provides definitions and explanations of key terms related to registration such as "person", "supplier", "business vertical", and "supply". It was prepared by Pradeep Goyal, a Chartered Accountant, for educational purposes to provide a general understanding of the GST registration requirements, not professional tax advice.
This document provides definitions and concepts related to customs law in India. It defines key terms like customs duty, imported goods, customs area, person-in-charge, and others. It also discusses circumstances of levy and exemption from customs duty. Some key points covered are:
- Customs duty is levied by the Central Government of India as per the Constitution.
- Imported goods mean goods brought into India from outside. Stores consumed on board vessels are exempt from duty.
- Customs area refers to the area where imported/exported goods are kept before customs clearance.
- Person-in-charge of different types of conveyances like vessel, aircraft, train, vehicle is defined.
This PPT talks about the services rendered outside the Territorial waters and the Service Tax applicability on the same. Under the International Law, recent developments have shown that the territory of a country, for exercising their jurisdictional rights and internal laws, has been extended to the Continental shelf and the Exclusive Economic Zones. But the rights given to the coastal country are limited and restricted. When compared with the previous notification passed by the Central Government, now the service tax will be charged irrespective of the area being designated or non-designated in the EEZ and the Continental shelf. This paper will analyse the implementations of the new amended notification. It will also compare the new notification with the other notifications of the Customs & Excise Act and Income Tax Act for drawing an extent of the applicability of the act to the territory of India, whether or not Service Tax can be charged for an area outside the territorial waters.
This document provides definitions for key terms used in the Payment of Gratuity Act of 1972 in India. It defines terms such as "appropriate government", "employee", "employer", "family", and "wages". It also defines what constitutes "continuous service" for determining employee eligibility for gratuity payments. The Act applies to employees working in factories, mines, ports and other establishments with 10 or more employees. It is aimed at providing a gratuity payment scheme for employees in covered organizations.
Income Tax Act with Supplement
As Amended by The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act 2020
The Present Publication is the 65th Edition, with the following noteworthy features:
· Taxmann’s Bestseller Book for more than Five-Decades
· Follows the Six Sigma Approach to achieve the Benchmark of
‘Zero Error’
· Amended Provisions as per the following:
o The Finance Act, 2020
o The Taxation and Other Laws (Relaxation and Amendment of
Certain Provisions) Act, 2020
· Legislative History of Amendments, since 1961
· Relevant provisions of all other allied laws referred to in the
Income-tax Act
· Specially curated 'Guide to Amendments'
· Comprehensive Table of Contents
· Relevant Section Numbers are printed in Folios for Quick
Navigation
Supplement to Income-tax Act
The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act 2020, has inserted or amended 39 Sections of the Income-tax Act, 1961. This supplement to Income-tax Act provides all amended and newly inserted Sections. These amendments are relating to:
· Change in the due dates of various compliances
· Reduction in the rates of TDS/TCS
· Clarifications regarding amended provisions of residential
status
· Faceless proceedings
· Restoration and deferment of certain provisions relating to
trusts
· Exemptions and deductions
· Taxation of Alternative Investment Funds (AIFs)
· Reduced rates of surcharge on dividend income in case of
FPIs
Analysis of Finance Act, 2020 vis-à-vis GST
The Finance Act, 2020 has made several amendments to the CGST Act, 2017 and corresponding amendments to the IGST Act, 2017 and UTGST Act, 2017. We have attempted to analyse the provision wise amendment made by the Finance Act, 2020 to the CGST Act, 2017.
This document discusses various transactions between employers and employees and analyzes whether they would constitute a supply under GST law. It summarizes the key judgements of the Authority for Advance Rulings, Kerala in the Caltech Polymers case. According to the summary, services provided by an employee to the employer in the course of employment are excluded from GST as per Schedule III. However, recovery of food expenses from employees would be taxable as consideration is involved. Transactions like transport allowance and uniform allowance would not attract GST.
The document defines key terms under the GST law of India. It defines "aggregate turnover" as the total value of taxable, non-taxable, exempt supplies and exports by a person with the same PAN number, excluding taxes charged under CGST, SGST and IGST Acts. It then goes on to define various other terms related to business, supply, taxation points, and types of supplies under GST.
The document defines key terms from the Model GST Law and CGST Act related to aggregate turnover, adjudicating authority, agent, business, capital goods, casual taxable person, composite supply, exempt supply, goods, input service distributor, input tax, job work, manufacture, mixed supply, non-resident taxable person, outward supply, person, place of business, place of supply, principal supply, reverse charge, supplier, works contract. It provides concise definitions for these important GST concepts in 2-3 sentences each.
Issues in Export & Import of Goods & Services vis-a-vis Foreign Trade PolicyGST Law India
The following presentation enumerates various issues related to import and export of goods under GST like modes of exports, zero-rated supply, supplies to SEZ and others, how to claim refund of ITC and IGST by using different forms. Further, it deals with methods to rectify mistakes in the respective refund forms under GST.
Place of supply in GST- export import ca amit kumarAmit Kumar
The document summarizes key provisions related to place of supply under the IGST Act, 2017. It discusses scenarios for determining place of supply for goods imported/exported from India as well as for domestic and international supply of services. For goods imported into India, place of supply is location of importer. For exported goods, place of supply is location outside India. For domestic service transactions, place of supply rules are based on location of supplier and recipient. For international transactions, general rule is location of recipient, with certain exceptions specified based on nature of service.
This document summarizes the Sales Tax Act of 1990 in Pakistan, which consolidates and amends laws relating to taxation on the sale, import, export, production, manufacture, or consumption of goods. Some key points:
- It establishes the legal framework for sales tax in Pakistan, including definitions, tax rates, penalties, and offences.
- Recent amendments have updated various definitions, such as expanding the definition of the term "Commissioner" and establishing the Appellate Tribunal for tax-related appeals.
- The Act aims to simplify and standardize sales tax laws in Pakistan through this consolidated legislation. It provides the primary legal basis for sales tax collection and administration in the country.
1) The notification announces new rules called the Companies (Specification of Definitions Details) Rules, 2014 that were made under the Companies Act, 2013 to specify various definitions.
2) The rules define key terms used in the Companies Act like director identification number, related party, electronic mode, and relatives.
3) A director or key managerial personnel of a holding company is deemed to be a related party to the company under the new rules.
Indian Companies Act 2013 - Chapter 1: Specification of definitions detailsBold Kiln
Law governing formation, functions and all other details pertaining to different types of companies in India. Passed in 2013. Indian Companies Act 2013 - Chapter 1
The Payment of Gratuity Act, 1972 provides for a scheme for the payment of gratuity to employees working in factories, mines, oilfields, plantations, ports, railway companies, shops or other establishments. Some key points:
- It applies to establishments with 10 or more employees who have worked for at least 5 years. Gratuity is paid at the rate of 15 days wages for each completed year of service.
- Employers must obtain insurance for their gratuity liability or establish an approved gratuity fund, as governed by the Act and rules. Non-compliance may result in penalties.
- The controlling authority appointed by the government is responsible for administering the Act. It can investigate complaints
CORPORATE
SEBI
Continuous disclosures and compliances by Infrastructure Investment Trusts (InvITs) -
Securities Exchange Board of India (Real Estate Investment Trusts) Amendment Regulations, 2016 -
Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2016 -
MCA
MCA notifies Fifth Tranche of Sections under Bankruptcy Code -
TAXATION
CBDT Notifies rules for calculation of time period for Property declared under Income Declaration Scheme, 2016 -
OTHERS
Cabinet approves liberalization, simplification and rationalization of Visa regime in India -
Permanent residency status for foreigners -
Company website- www.acquisory.com
The Cayman Islands, an autonomous British Overseas Territory in the Caribbean, is building a regulatory framework for “virtual asset service providers” (VASPs).
Code on wages bill 2017 as introduced in lok sabhaSangraam Singh
This document contains the proposed Code on Wages, 2017 for India. It lays out 9 chapters that will consolidate and amend existing laws related to wages and bonuses. The key chapters include:
- Chapter I on preliminary definitions and prohibitions on gender discrimination.
- Chapter II on minimum wages including fixing and revising minimum wages rates.
- Chapter III on payment of wages including permissible deductions.
- Chapter IV on payment of bonuses to employees.
- Chapter V establishes advisory boards to advise on wages and bonuses.
This document provides information on Goods and Service Tax (GST) laws regarding reverse charge mechanism (RCM) in India. Some key points:
1. Under GST law, the government can notify categories of goods or services where tax is to be paid by the recipient of such goods/services under RCM instead of the supplier.
2. Tax is to be paid under RCM by registered recipients on inward supplies of goods or services exceeding Rs. 5000 per day from unregistered suppliers.
3. Notified services and goods where tax is to be paid by the recipient under RCM are provided in the document along with detailed analysis and explanations.
4. The process of discharging reverse charge
This document lists keywords related to international institutes of foreign trade and export import training institutes. It includes names of various international institutes of foreign trade located across India and the world, along with course details, fees, and other information related to export import training institutes in India.
This document provides a list of HS (Harmonized System) codes and descriptions for live and fresh animals and animal products, including:
1. Live horses, cattle, swine, sheep, poultry and other live animals.
2. Fresh and chilled meat from cattle, swine, sheep, goats and other animals.
3. Edible offal such as organs and intestines from livestock and poultry, fresh, chilled or frozen.
4. Various processed meats and edible meat products that have been salted, smoked or dried.
5. Freshwater and saltwater fish, crustaceans, mollusks and other fresh seafood.
The document summarizes audit requirements under the GST law in India. It discusses the annual audit that must be conducted by chartered accountants/CMAs for businesses with a turnover over 2 crore rupees. It also outlines the reconciliation statements that must be filed. Additionally, the document outlines the areas of focus in the audit including reconciliation of supplies, input tax credit, taxes paid and refunds. Finally, it briefly discusses audits that can be conducted by tax authorities with advance notice to the registered business.
Registered dealers must file GST returns within the stipulated tax period using the correct form type for their category and legal status. There are 11 return forms that must provide details of outward supplies, allow for corrections, and include payment. Different forms are filed monthly, quarterly, and annually depending on the taxpayer's status. Automating the return process through software increases accuracy, facilitates electronic filing, improves document management and backups, and makes information easily searchable.
The document discusses the levy and collection of goods and services tax (GST) in India. It provides details on:
- GST subsumed multiple indirect taxes and is levied on supply of goods and services across India.
- GST is levied and collected under the Central GST Act for intra-state supplies and the Integrated GST Act for inter-state supplies. The recipient is liable to pay tax on notified supplies under reverse charge.
- For intra-state supplies, CGST and SGST/UTGST are levied simultaneously by the Central and State Governments respectively. For inter-state supplies, IGST is levied by the Central Government.
1.gst constitutional provisions and features of constitution (101st amendme...Kishor Sanap
The document summarizes key constitutional provisions related to the introduction of GST in India through the 101st Constitutional Amendment Act. It discusses amendments made to articles 246, 246A, 269A etc. to distribute powers between central and state governments to levy GST. It also describes the constitution of the GST Council and its powers to make recommendations. The timeline for enactment of central, integrated and union territory GST laws coming into effect from July 1, 2017 is provided.
This document outlines India's export policies for various agricultural and fuel products. It specifies that the export of items like durum wheat, non-basmati rice, copra, crude coconut oil, gasoline and other fuels is restricted and permitted only through state trading enterprises. It also lists certain conditions for the export of items like non-basmati rice and urea to European countries, including requirements for certificates of inspection.
This document provides an index of the Customs Act of 1962 in India. It outlines the various chapters and sections of the act, which cover topics like customs officers and their powers, customs ports and warehouses, import and export prohibitions, duties and taxes, clearance of goods, bonded warehouses, drawbacks, special economic zones, baggage, and coastal trade. The index lists each chapter and section number along with any related rules and regulations. It provides a high-level overview of the structure and contents of the Customs Act of 1962.
The document outlines the 9 step procedure for electronically uploading supporting documents in PDF format to the ICEGATE system in India. It includes steps like: 1) Preparing documents in PDF/A format, 2) Logging into ICEGATE, 3) Clicking the e-SANCHIT link, 4) Uploading up to 5 documents at a time, 5) Validating the digital signature on each document, 6) Selecting the document type, 7) Submitting documents for processing, 8) Acknowledging a disclaimer, and 9) Linking uploaded documents to bills of entry or shipping bills using the generated IRN and DRN numbers.
Seaports serve as important interfaces between sea and land transportation. They connect inland and coastal transportation systems, defining their hinterlands and forelands. Seaports perform various operations including embarking and disembarking passengers and crew, loading and unloading cargo from vessels, cargo storage and warehousing, and providing inland transportation connections. The main functions of seaports are to ensure vessel safety, provide loading/unloading facilities, offer cargo transportation and storage services, and provide emergency shelter and repairs for vessels. Container port operations involve four key steps - ship-to-shore cargo discharge, cargo transfer to a temporary area, container storage, and cargo delivery or receipt into the terminal.
The document lists various transaction codes related to excise tax processes in India. These include codes for creating sales tax registers, excise invoices, subcontracting challans, CENVAT adjustments, remitting excise duty, and extracting and printing excise registers. Additional codes configure tax calculation procedures, maintain tax codes, excise rates, and define accounts for taxes.
1) The document outlines common errors made while e-filing income tax returns that can result in defective or invalid returns. Key errors include incorrect personal information, schedules not being filled out completely, and mismatches between amounts reported in different sections of the return.
2) It provides guidance on properly filling out important parts of ITR-1 like the personal information schedule and Part BTI, and schedules for income sources like salary, house property, and capital gains. Filling these out incorrectly can lead to incorrect tax computations.
3) Special attention needs to be given to schedules claiming deductions, tax credits, and losses to ensure amounts are reported accurately in the correct sections. Errors in these schedules may result in deductions not
This agreement is between Ms Co Ltd and Ms. Carriers Co. Ltd for the carriage of goods by Ms. Carriers Co. Ltd. Key points:
- Ms. Carriers Co. Ltd will transport goods for Ms Co Ltd from January 2003 to December 2003 and the agreement can be extended by mutual consent.
- Ms. Carriers Co. Ltd must deposit a security amount of Rs. 5 lakhs with Ms Co Ltd.
- Ms. Carriers Co. Ltd will transport goods as instructed by Ms Co Ltd and be responsible for loading, unloading, and delivery of goods. Ms Co Ltd will inform lifting programs in advance.
This document summarizes the Risk Management System (RMS) implemented by Indian Customs. RMS aims to segregate import consignments into high-risk and low-risk categories. Low-risk consignments receive facilitated clearance while customs controls are applied to high-risk ones. RMS has increased facilitation rates to 46% while also realizing extra revenue of $204 million USD in 2010-2011. It provides benefits to trade such as reduced clearance times and costs. RMS uses a multi-layered approach based on intelligence and risk-rules to uniformly address risks.
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Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
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1. Institute of Cost Accountants of India
IGST: THE INTEGRATED GOODS & SERVICES TAX ACT, 2017
Old Model GST Law Nov 2016 GST Bill Mar 2017
Sec (Sub-Sec) Clause Provision Sec
(Sub-
sec)
Clause Provision Impact Analysis
CHAPTER I PRELIMINARY
1(2) Applicability It extends to the whole of India 1(2) Applicability It shall extend to the whole
of India except the state of
Jammu & Kashmir
Act not applicable to Jammu
& Kashmir.
It is very unfortunate we
could not achieve “One
Nation – One Tax”.
Goods & Services to be
provided at Jammu &
Kashmir or to be received
from Jammu & Kashmir will
be too costly.
1(3) Coming into force It shall come into force on such
date as the Central Government
may, by notification in the
Official Gazette, appoint, and
different dates may be
appointed for different
provisions of this Act
1(3) Coming into
force
It shall come into force on
such date as the Central
Government may, by
notification in the Official
Gazette, appoint:
Provided that different dates
may be appointed for
different provisions of this Act
and any reference in any such
provision to the
commencement of this Act
shall be construed as a
reference to the coming into
force of that provision
Clarification included that
the reference to
commencement of the Act
shall be construed as a
reference to the coming into
force of the respective
provision which comes into
force at later date.
It means some of the
provisions of the said act will
be implemented
subsequently.
2. Institute of Cost Accountants of India
Old Model GST Law Nov 2016 GST Bill Mar 2017
Sec (Sub-Sec) Clause Provision Sec
(Sub-
sec)
Clause Provision Impact Analysis
2(1) Account account means an account
bearing interest to the
depositor, and includes a non-
resident external account and a
non-resident ordinary account;
Deleted
2(2) appropriate
State
appropriate State‖, in relation to
a taxable person, means that
State where he is registered or
liable to be registered under
section 19 of the Central Goods
and Services Tax Act, 20176.
Explanation: For the purpose of
this Act, ―State‖ includes Union
Territory with Legislature;
Deleted
2(3) banking
company
banking company has the
meaning assigned to it in clause
(a) of section 45A of the Reserve
Bank of India Act, 1934 (2 of
1934);
Deleted
2(1) Central Goods
and Services
Tax Act
“Central Goods and Services
Tax Act” means the Central
Goods and Services Tax Act,
2017
New Definition added
Few definitions viz that of
account, banking company,
financial institution, non-
banking financial company,
tourist have been shifted and
added by way of explanations
to the provisions dealing with
them
3. Institute of Cost Accountants of India
Old Model GST Law Nov 2016 GST Bill Mar 2017
Sec (Sub-Sec) Clause Provision Sec
(Sub-
sec)
Clause Provision Impact Analysis
Few definitions viz
appropriate state, input tax,
place of business, state
(previously also blank), have
been deleted
Definitions have been aligned
to replace the wording IGST
with integrated tax.
Definition 2(2) Central tax “Central tax” means the tax
levied and collected under the
Central Goods and Services
Tax Act
New Definition added
Definition 2(3) continuous
journey
“continuous journey” means
a journey for which a single or
more than one ticket or
invoice is issued at the same
time, either by a single
supplier of service or through
an agent acting on behalf of
more than one supplier of
service, and which involves no
stopover between any of the
legs of the journey for which
one or more separate tickets
or invoices are issued.
Explanation. –– For the
purposes of this clause, the
New Definition added and it
is in the same line as per
existing service tax provision.
4. Institute of Cost Accountants of India
Old Model GST Law Nov 2016 GST Bill Mar 2017
Sec (Sub-Sec) Clause Provision Sec
(Sub-
sec)
Clause Provision Impact Analysis
term “stopover” means a
place where a passenger can
disembark either to transfer
to another conveyance or
break his journey for a certain
period in order to resume it at
a later point of time;
2(4) customs frontiers
of India
“customs frontiers of India”
means the limits of the area of a
customs station as defined in
section 2 of the Customs Act,
1962 (52 of 1962) in which
imported goods are ordinarily
kept before clearance by
customs authorities
2(4) customs
frontiers of India
“customs frontiers of India”
means the limits of a customs
area as defined in section 2 of
the Customs Act, 1962;
Definition amended to limit
interpretation strictly in line
with section 2 of the Customs
Act, 1962
2(5) export of goods “export of goods” with its
grammatical variations and
cognate expressions, means
taking goods out of India to a
place outside India;
2(5) export of goods “export of goods” with its
grammatical variations and
cognate expressions, means
taking goods out of India to a
place outside India;
No Change
2(6) export of services (6) “export of services” means
the supply of any service when
(a) the supplier of service is
located in India,
(b) the recipient of service is
located outside India,
(c) the place of supply of service
is outside India,
2(6) export of
services
“export of services” means
the supply of any service
when,–
(i) the supplier of service is
located in India;
(ii) the recipient of service is
located outside India;
(iii) the place of supply of
service is outside India;
No Change
It is in the same line of
existing Service tax Provision
5. Institute of Cost Accountants of India
Old Model GST Law Nov 2016 GST Bill Mar 2017
Sec (Sub-Sec) Clause Provision Sec
(Sub-
sec)
Clause Provision Impact Analysis
(d) the payment for such service
has been received by the
supplier of service
in convertible foreign exchange,
and (e) the supplier of service
and recipient of service are not
merely
establishments of a distinct
person in accordance with
explanation 1 of section 5;
(iv) the payment for such
service has been received by
the supplier of service in
convertible foreign exchange;
and
(v) the supplier of service and
the recipient of service are
not merely establishments of
a distinct person in
accordance with Explanation
1 in section 8;
2(7) financial
institution
financial institution
has the meaning assigned to it in
clause (c) of section 45- I of the
Reserve Bank of India Act, 1934
(2 of 1934);
Deleted
2(8) fixed
establishment
“fixed establishment” means a
place (other than the registered
place of business) which is
characterized by a sufficient
degree of permanence and
suitable structure in terms of
human and technical resources
to supply services or to receive
and use services for its own
needs;
2(7) fixed
establishment
“fixed establishment” means
a place (other than the
registered place of business)
which is characterized by a
sufficient degree of
permanence and suitable
structure in terms of human
and technical resources to
supply services or to receive
and use services for its own
needs;
No Change
2(8) Goods and
Services Tax
“Goods and Services Tax
(Compensation to the States)
Act” means the Goods and
New Definition added
6. Institute of Cost Accountants of India
Old Model GST Law Nov 2016 GST Bill Mar 2017
Sec (Sub-Sec) Clause Provision Sec
(Sub-
sec)
Clause Provision Impact Analysis
(Compensation
to the States)
Act
Services Tax (Compensation
to the States) Act, 2017
2(9) Government Government” means the Central
Government
2(9) Government Government” means the
Central Government
No Change
2(10) import of goods “import of goods” with its
grammatical variations and
cognate expressions, means
bringing goods into India from a
place outside India;
2(10 import of goods “import of goods” with its
grammatical variations and
cognate expressions, means
bringing goods into India from
a place outside India;
No Change
2(11) import of services ‘‘import of services” means the
supply of any service, where––
(i) the supplier of service is
located outside India;
(ii) the recipient of service is
located in India; and
(iii) the place of supply of service
is in India;
2(11) import of
services
‘‘import of services” means
the supply of any service,
where––
(i) the supplier of service is
located outside India;
(ii) the recipient of service is
located in India; and
(iii) the place of supply of
service is in India;
No Change
2(12) India “India” means,-
(a) the territory of the Union as
referred to in clauses (2) and (3)
of Article 1
of the Constitution;
(b) its territorial waters,
continental shelf, exclusive
economic zone or any
Deleted
7. Institute of Cost Accountants of India
Old Model GST Law Nov 2016 GST Bill Mar 2017
Sec (Sub-Sec) Clause Provision Sec
(Sub-
sec)
Clause Provision Impact Analysis
other maritime zone as defined
in the Territorial Waters,
Continental Shelf,
Exclusive Economic Zone and
other Maritime Zones Act, 1976
(80 of
1976);
(c) the seabed and the subsoil
underlying the territorial
waters;
(d) the air space above its
territory and territorial waters;
and
(e) the installations, structures
and vessels located in the
continental shelf of
India and the exclusive
economic zone of India, for the
purposes of
prospecting or extraction or
production of mineral oil and
natural gas and
supply thereof;
2(14) Integrated Goods
and Services Tax”
“Integrated Goods and Services
Tax” (IGST) means tax levied
under this Act on the supply of
any goods and/or services in the
course of inter-State trade or
commerce
2(12) Integrated tax “integrated tax” means the
integrated goods and services
tax levied under this Act;
The tax under The Integrated
Goods and Services Act will
be called integrated tax
8. Institute of Cost Accountants of India
Old Model GST Law Nov 2016 GST Bill Mar 2017
Sec (Sub-Sec) Clause Provision Sec
(Sub-
sec)
Clause Provision Impact Analysis
2(13) intermediary “intermediary” means a broker,
an agent or any other person, by
whatever name called, who
arranges or facilitates the supply
of a service (hereinafter called
the ‘main’ service) or the supply
of goods, between two or more
persons, but does not include a
person who supplies the main
service or supplies the goods on
his account
2(13) “intermediary” means a
broker, an agent or any other
person, by whatever name
called, who arranges or
facilitates the supply of goods
or services or both, or
securities, between two or
more persons, but does not
include a person who
supplies such goods or
services or both or securities
on his own account;
Reworded to include persons
who facilitate the supply of
both goods and services &
stock brokers / share brokers
2(15) input tax "input tax" in relation to a
taxable person, means the
Integrated Goods
and Services Tax, including that
on import of goods, Central
Goods and Services Tax or State
Goods and Services Tax, as the
case may be, charged on any
supply of goods and/or services
to him and includes the tax
payable under sub-section (2) of
section 5, but does not include
the tax paid under section 9 of
the CGST/SGST Act;
Deleted
2(16) input tax credit input tax credit” means credit of
‘input tax’ as defined in sub-
section (15)
Deleted
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2(17) location of the
recipient of
services
“location of the recipient of
services” means:
(a) where a supply is received at
a place of business for which
registration has been obtained,
the location of such place of
business;
(b) where a supply is received at
a place other than the place of
business for which registration
has been obtained, that is to
say, a fixed establishment
elsewhere, the location of such
fixed establishment;
(c) where a supply is received at
more than one establishment,
whether the
place of business or fixed
establishment, the location of
the establishment
most directly concerned with
the receipt of the supply; and
(d) in absence of such places,
the location of the usual place of
residence of
the recipient;
2(14) location of the recipient of
services” means,–
(a) where a supply is received
at a place of business for
which the registration has
been obtained, the location of
such place of business;
(b) where a supply is received
at a place other than the place
of business for which
registration has been
obtained (a fixed
establishment elsewhere),
the location of such fixed
establishment;
(c) where a supply is received
at more than one
establishment, whether the
place of business or fixed
establishment, the location of
the establishment most
directly concerned with the
receipt of the supply; and
(d) in absence of such places,
the location of the usual place
of residence of the recipient;
No Change
2(18) location of the
supplier of
services
“location of the supplier of
services” means:
(a) where a supply is made from
a place of business for which
2(15) Definition “location of the supplier of
services” means -
(a) where a supply is made
from a place of business for
No Change and the same is in
line with existing provisions of
Service Tax.
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registration has been obtained,
the location of such place of
business;
(b) where a supply is made from
a place other than the place of
business for which registration
has been obtained, that is to
say, a fixed establishment
elsewhere, the location of such
fixed establishment;
(c) where a supply is made from
more than one establishment,
whether the place of business or
fixed establishment, the
location of the establishment
most directly concerned with
the provision of the supply; and
(d) in absence of such places,
the location of the usual place of
residence of the supplier;
which the registration has
been obtained, the location of
such place of business;
(b) where a supply is made
from a place other than the
place of business for which
registration has been
obtained (a fixed
establishment elsewhere),
the location of such fixed
establishment;
(c) where a supply is made
from more than one
establishment, whether the
place of business or fixed
establishment, the location of
the establishment most
directly concerned with the
provision of the supply; and
(d) in absence of such places,
the location of the usual place
of residence of the supplier;
2(19) non-banking
financial
company
non-banking financial company
means- (i) a financial
institution which is a company;
or
(ii) a non-banking institution
which is a company and which
has as its principal business the
receiving of deposits, under
Deleted
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any scheme or arrangement or
in any other manner, or lending
in any manner; or
(iii) such other non-banking
institution or class of such
institutions, as the Reserve
Bank of India may, with the
previous approval of the
Central Government and by
notification in the Official
Gazette specify;
2(20) “non-taxable
online recipient”
means Government, a local
authority, a governmental
authority, an individual or any
person not registered under
section 23 19 of the CGST Act,
2017 receiving online
information and database
access or retrieval services in
relation to any purpose other
than commerce, industry or
any other business or
profession, located in taxable
territory;
Explanation.- For the purposes
of this clause, governmental
authority means an authority
or a board or any other body:
2(16) “non-taxable online
recipient” means any
Government, local authority,
governmental authority, an
individual or any other person
not registered and receiving
online information and
database access or retrieval
services in relation to any
purpose other than
commerce, industry or any
other business or profession,
located in taxable territory.
Explanation.––For the
purposes of this clause, the
expression “governmental
authority” means an
authority or a board or any
other body,
No Change
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(i) set up by an Act of
Parliament or a State
legislature; or
(ii) established by Government,
with 90% or more participation
by way of equity or control, to
carry out any function
entrusted to a municipality
under article 243Wof the
Constitution
(i) set up by an Act of
Parliament or a State
Legislature; or
(ii) established by any
Government, with ninety per
cent. or more participation by
way of equity or control, to
carry out any function
entrusted to a municipality
under article 243W of the
Constitution;
2(21) “online
information and
database access
or retrieval
services”
means services whose delivery
is mediated by information
technology over the internet or
an electronic network and the
nature of which renders their
supply essentially automated
and involving minimal human
intervention, and impossible to
ensure in the absence of
information technology and
includes electronic services
such as,-
(i) advertising on the internet;
(ii) providing cloud services;
(iii) provision of e-books,
movie, music, software and
other intangibles via
telecommunication networks
or internet;
2(17) “online information and
database access or retrieval
services” means services
whose delivery is mediated by
information technology over
the internet or an electronic
network and the nature of
which renders their supply
essentially automated and
involving minimal human
intervention and impossible
to ensure in the absence of
information technology and
includes electronic services
such as,––
(i) advertising on the internet;
(ii) providing cloud services;
(iii) provision of e-books,
movie, music, software and
No Change
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(iv) providing data or
information, retrievable or
otherwise, to any person, in
electronic form through a
computer network;
(v) online supplies of digital
content (movies, television
shows, music, etc.);
(vi) digital data storage; and
(vii) online gaming;
other intangibles through
telecommunication networks
or internet;
(iv) providing data or
information, retrievable or
otherwise, to any person in
electronic form through a
computer network;
(v) online supplies of digital
content (movies, television
shows, music and the like);
(vi) digital data storage; and
(vii) online gaming;
2(22) place of business “place of business” includes
(a) a place from where the
business is ordinarily carried on,
and includes a
warehouse, a godown or any
other place where a taxable
person stores his
goods, provides or receives
goods and/or services;
(b) a place where a taxable
person maintains his books of
account; or
(c) a place where a taxable
person is engaged in business
through an agent,
by whatever name called;
Deleted
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2(28) output tax output tax” in relation to a
taxable person, means the IGST
chargeable under the Act on
taxable supply of goods and/or
services made by him or his
agent and excludes tax payable
by him on reverse charge basis;
2(18) output tax “output tax”, in relation to a
taxable person, means the
integrated tax chargeable
under this Act on taxable
supply of goods or services or
both made by him or by his
agent but excludes tax
payable by him on reverse
charge basis;
2(23) Special
economic
zone’’
special economic zone’’ shall
have the meaning assigned to it
in clause (za) of section 2 of the
Special Economic Zones Act,
2005 (28 of 2005);
2(19) Special
Economic Zone
“Special Economic Zone” shall
have the same meaning as
assigned to it in clause (za) of
section 2 of the Special
Economic Zones Act, 2005;
No Change
2(24) SEZ developer “SEZ developer” means a person
who, or a State Government
which, has
been granted by the Central
Government a letter of approval
under sub-section (10) of
section 3 of the Special
Economic Zones Act, 2005 (28 of
2005) and includes an Authority
and a Co-Developer as defined
under section 2 of the Special
Economic Zones
Act, 2005 (28 of 2005);
2(20) Special
Economic Zone
developer
“Special Economic Zone
developer” shall have the
same meaning as assigned to
it in clause (g) of section 2 of
the Special Economic Zones
Act, 2005 and includes an
Authority as defined in clause
(d) and a Co-Developer as
defined in clause (f ) of section
2 of the said Act;
No Change
2(25) State State” means------ Deleted
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2(26) Supply “supply” has the same meaning
as assigned to it in section 3 of
the CGST Act, 2016;
2(21) Supply “supply” shall have the same
meaning as assigned to it in
section 7 of the Central Goods
and Services Tax Act
No Change (except
realignment of the sections
of CGST)
2(27) Tourist “tourist” means a person not
normally resident in India, who
enters India for a stay of not
more than six months for
legitimate non-immigrant
purposes;
Deleted
2(22) Taxable
Territory
“taxable territory” means the
territory to which the
provisions of this Act apply;
Since Jammu & Kashmit has
been excluded, it will be
treated as Non-Taxable
Territory. It is in the same line
as per existing provisions
applicable to Services. Now
made applicable to goods
also.
2(29) “zero-rated
supply”
shall have the meaning assigned
to it under section 15; and
2(23) Zero-rated
Supply
“zero-rated supply” shall have
the meaning assigned to it in
section 16;
No Change
2(30) Words and expressions not
defined in this Act shall have the
meaning assigned to them in the
Central Goods and Service Tax
Act, 2016
2(24) words and expressions used
and not defined in this Act but
defined in the Central Goods
and Services Tax Act, the
Union Territory Goods and
Services Tax Act and the
Goods and Services Tax
(Compensation to States) Act
shall have the same meaning
Definitions if not available in
this Act but defined in Union
territory Goods and Services
Tax Act and Goods and
Services Tax (Compensation
to the States) Act will also be
considered
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as assigned to them in those
Acts;
2(25) any reference in this Act to a
law which is not in force in the
State of Jammu and Kashmir,
shall, in relation to that State
be construed as a reference
to the corresponding law, if
any, in force in that State.
CHAPTER II ADMINISTRATION
23(1) Appointment of
officers under the
Integrated Goods
and Services Tax
Act, 2016
(1) The Board may appoint such
persons as it may think fit to be
officers under the Integrated
Goods and Services Tax Act,
2016.
(2) Without prejudice to the
provisions of sub-section (1), the
Board may authorize a Principal
Chief Commissioner/Chief
Commissioner of Central Goods
and Services Tax or a Principal
Commissioner/Commissioner of
Central Goods and Services Tax
or an Additional/Joint or
Deputy/Assistant Commissioner
of Central Goods and Service Tax
to appoint officers of Integrated
Goods and Services Tax below
3 Appointment of
Officers
The Board may appoint such
central tax officers as it thinks
fit for exercising the powers
under this Act.
Provision of appointment of
IGST officers below a certain
rank by officers of CGST is
removed
Further Section 22 of the
previous draft defined Classes
of officers under the
Integrated Goods and Services
Tax Act, 2016 which are no
longer defined under the new
draft
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the rank of Assistant
Commissioner of Integrated
Goods and Services Tax Act,
2016.
23(2) 4 Authorisation of
certain officers
Without prejudice to the
provisions of this Act, the
officers appointed under the
State Goods and Services Tax
Act or the Union Territory
Goods and Services Tax Act
are authorised to be the
proper officers for the
purposes of this Act, subject
to such exceptions and
conditions as the
Government shall, on the
recommendations of the
Council, by notification,
specify.
New Provision
Recommendation of Council is
needed to authorised officer
under SGST Act to be officers
for IGST.
In other words, existing VAT
officers will be also authorized
by notification by GST Council
to be proper officers under
IGST Law.
CHAPTER III LEVY AND COLLECTION OF TAX
5(1) Levy and
collection of
Integrated Goods
and Services Tax
There shall be levied a tax called
the Integrated Goods and
Services Tax on all supplies of
goods and/or services made in
the course of inter-State trade
or commerce on the value
determined under section 15 of
5(1) LEVY AND
COLLECTION OF
TAX
(1) Subject to the provisions
of sub-section (2), there shall
be levied a tax called the
integrated goods and services
tax on all inter-State supplies
of goods or services or both;
Cap rated increased to 40%
from existing 28%. It was
mentioned that for change of
rates need not to go to the
Parliament again. GST Council
have been authorized.
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CGST Act, 2016 and at such rates
as may be notified by the
Central Government in this
behalf, but not exceeding
twenty eight percent, on the
recommendation of Council and
collected in such manner as may
be prescribed and shall be paid
by every taxable person in
accordance with the provisions
of this Act
except on the supply of
alcoholic liquor for human
consumption, on the value
determined under section 15
of the Central Goods and
Services Tax Act and at such
rates, not exceeding forty per
cent., as may be notified by
the Government on the
recommendations of the
Council and collected in such
manner as may be prescribed
and shall be paid by the
taxable person:
Provided that the integrated
tax on goods imported into
India shall be levied and
collected in accordance with
the provisions of section 3 of
the Customs Tariff Act, 1975
on the value as determined
under the said Act at the point
when duties of customs are
levied on the said goods
under section 12 of the
Customs Act, 1962.
However, supply of alcoholic
liquor for human
consumption is specifically
excluded.
IGST will be applicable for
importation of goods.
5(2) The integrated tax on the
supply of petroleum crude,
high speed diesel, motor spirit
Provision added w.r.t. levy of
tax petroleum crude, high
speed diesel, motor spirit
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(commonly known as petrol),
natural gas and aviation
turbine fuel shall be levied
with effect from such date as
may be notified by the
Government on the
recommendations of the
Council.
(commonly known as petrol),
natural gas and aviation
turbine fuel at future date on
recommendation of GST
Council.
5(3) The Government may, on the
recommendations of the
Council, by notification,
specify categories of supply of
goods or services or both, the
tax on which shall be paid on
reverse charge basis by the
recipient of such goods or
services or both and all the
provisions of this Act shall
apply to such recipient as if he
is the person liable for paying
the tax in relation to the
supply of such goods or
services or both
Reverse charge will be
applicable to IGST also on the
supply made by specific
categories of goods or services
or both.
5(4) The integrated tax in respect
of the supply of taxable goods
or services or both by a
supplier, who is not
registered, to a registered
person shall be paid by such
person on reverse charge
New clause added
Reverse charge of IGST will be
applicable when goods or
services received from
unregistered person.
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basis as the recipient and all
the provisions of this Act shall
apply to such recipient as if he
is the person liable for paying
the tax in relation to the
supply of such goods or
services or both.
It is pertinent to note that no
exemption is available if there
are inter-state supplies.
Situation may arise when
supplies are received from
such person who has not
quoted IGST Number on Tax
Invoice, since any person who
is involved in inter-state sale
have to obtain the registration
compulsorily.
The Government may, on the
recommendations of the
Council, by notification,
specify categories of services,
the tax on inter-State supplies
of which shall be paid by the
electronic commerce
operator if such services are
supplied through it, and all
the provisions of this Act shall
apply to such electronic
commerce operator as if he is
the supplier liable for paying
the tax in relation to the
supply of such services:
Provided that where an
electronic commerce
operator does not have a
physical presence in the
Any supplies made through E-
Commerce operator, E-
Commerce operator will be
liable to pay IGST on services
as may be specified under the
notification.
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taxable territory, any person
representing such electronic
commerce operator for any
purpose in the taxable
territory shall be liable to pay
tax:
Provided further that where
an electronic commerce
operator does not have a
physical presence in the
taxable territory and also
does not have a
representative in the said
territory, such electronic
commerce operator shall
appoint a person in the
taxable territory for the
purpose of paying tax and
such person shall be liable to
pay tax.
E-Commerce will have to
obtain compulsorily
registration in India even
though his physical presence
may not be in taxable
territory.
6(1) Power to grant
exemption from
tax
(1) Where the Government is
satisfied that it is necessary in
the public interest so to do, it
may, on the
recommendations of the
Council, by notification,
exempt generally, either
absolutely or subject to such
conditions as may be
Government is empowered to
give the exemption wholly or
partially.
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specified therein, goods or
services or both of any
specified description from the
whole or any part of the tax
leviable thereon with effect
from such date as may be
specified in such notification.
6(1) Power to grant
exemption from
tax
Any exemption granted by the
Central Government on the
recommendation of the Council,
under section 11 of the CGST Act
in respect of intra-State supply
of goods and/or services of any
specified description, shall apply
mutatis mutandis to inter-State
supply of goods and/or services
of the said description unless
specifically provided otherwise
6(2) Power to grant
exemption from
tax
Where the Government is
satisfied that it is necessary in
the public interest so to do, it
may, on the
recommendations of the
Council, by special order in
each case, under
circumstances of an
exceptional nature to be
stated in such order, exempt
from payment of tax any
goods or services or both on
which tax is leviable.
The clause is made absolute
and there is no scope of
providing otherwise
6(3) Power to grant
exemption from
tax
The Government may, if it
considers necessary or
expedient so to do for the
purpose of clarifying the
scope or applicability of any
notification issued under
sub-section (1) or order
issued under sub-section (2),
insert an Explanation in such
notification or order, as the
Government can issue the
circular or insert explanation
which will be retrospective.
However this has to issue
within one year of issue of
original notification.
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case may be, by notification at
any time within one year of
issue of the notification
under sub-section (1) or order
under sub-section (2), and
every such Explanation shall
have effect as if it had always
been the part of the first such
notification or order, as the
case may be.
Explanation.–– For the
purposes of this section,
where an exemption in
respect of any goods or
services or both from the
whole or part of the tax
leviable thereon has been
granted absolutely, the
registered person supplying
such goods or services or both
shall not collect the tax, in
excess of the effective rate,
on such supply of goods or
services or both.
CHAPTER- IV DETERMINATION OF NATURE OF SUPPLY
3 Supplies of goods
and/or services in
the course of
(1) Subject to the provisions of
section 7, supply of goods in the
course of inter-State trade or
commerce means any supply
7 Nature of supply (1) Subject to the provisions
of section 10, supply of goods,
where the location of the
Amended to include within
ambit of interstate supplies,
the transactions between two
different Union territories, a
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inter-State trade
or commerce
where the location of the
supplier and the place of supply
are in different States.
(2) Subject to the provisions of
section 9, supply of services in
the course of inter-State trade
or commerce means any supply
where the location of the
supplier and the place of supply
are in different States.
(3) Supply of goods in the course
of import into the territory of
India till they
cross the customs frontiers of
India shall be deemed to be a
supply of goods in the
course of inter-State trade or
commerce.
(4) Supply of services in the
course of import into the
territory of India shall be
deemed to be a supply of
services in the course of inter-
State trade or commerce.
(5) Supply of goods and/or
services, when the supplier is
located in India and the place of
supply is outside India, shall be
deemed to be a supply of goods
supplier and the place of
supply are in––
(a) two different States;
(b) two different Union
territories; or
(c) a State and a Union
territory, shall be treated as a
supply of goods in the course
of inter-State trade or
commerce.
(2) Supply of goods imported
into the territory of India, till
they cross the customs
frontiers of India, shall be
treated to be a supply of
goods in the course of inter-
State trade or commerce.
(3) Subject to the provisions
of section 12, supply of
services, where the location
of the supplier and the place
of supply are in––
(a) two different States;
(b) two different Union
territories; or
(c) a State and a Union
territory, shall be treated as a
supply of services in the
course of inter-State trade or
commerce.
State and a Union territory
and supply to / by SEZ
Developer or SEZ Unit.
However, State definition
includes Jammu & Kashmir
and all other states including
Delhi & Pondicherry and
Union Territories. In view of
the same, if supplies are made
from any other state / Union
Territory to Jammu &
Kashmir, it will be treated as
Inter-State Supply.
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and/or services in the course of
inter-State trade or commerce.
(6) Supply of goods and/ or
services to or by a SEZ developer
or an SEZ unit,
shall be deemed to be a supply
of goods and/or services in the
course of inter-State trade or
commerce.
(7) Any supply of goods and/or
services in the taxable territory,
not being an intra-State supply
and not covered elsewhere in
this section, shall be deemed to
be a supply of goods and/or
services in the course of inter-
State trade or commerce.
(4) Supply of services
imported into the territory of
India shall be treated to be a
supply of services in the
course of inter-State trade or
commerce.
(5) Supply of goods or services
or both,––
(a) when the supplier is
located in India and the place
of supply is outside India;
(b) to or by a Special
Economic Zone developer or a
Special Economic Zone unit;
or
(c) in the taxable territory, not
being an intra-State supply
and not covered elsewhere in
this section, shall be treated
to be a supply of goods or
services or both in the course
of inter-State trade or
commerce.
4 Supplies of goods
and/or services in
the course of
intra-State trade
or
commerce
(1) Subject to the provisions of
section 7, intra-State supply of
goods means any supply of
goods where the location of the
supplier and the place of supply
are in the same State:
8 Intra - State
supply.
(1) Subject to the provisions
of section 10, supply of goods
where the location of the
supplier and the place of
supply of goods are in the
same State or same Union
Transactions where the
location of the supplier and
the place of supply of services
are in the same Union
Territory are included in intra-
State.
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PROVIDED that the intra-State
supply of goods shall not
include:
(i) supply of goods to or by a SEZ
developer or to or by an SEZ
unit;
(ii) supply of goods brought into
India in the course of import till
they cross the customs frontiers
of India.
(2) Subject to the provisions of
section 9, intra-State supply of
services means any supply of
services where the location of
the supplier and the place of
supply are in the same State:
PROVIDED that the intra-State
supply of services shall not
include supply of services to or
by a SEZ developer or to or by an
SEZ unit.
territory shall be treated as
intra-State supply:
Provided that the following
supply of goods shall not be
treated as intra-State supply,
namely:––
(i) supply of goods to or by a
Special Economic Zone
developer or a Special
Economic Zone unit;
(ii) goods imported into the
territory of India till they cross
the customs frontiers of India;
or
(iii) supplies made to a tourist
referred to in section 15.
(2) Subject to the provisions
of section 12, supply of
services where the location of
the supplier and the place of
supply of services are in the
same State or same Union
territory shall be treated as
intra-State supply:
Provided that the intra-State
supply of services shall not
include supply of services to
Clarification w.r.t. Distinct
person is expanded to include
registered establishment
under different business
vertical in that state.
27. Institute of Cost Accountants of India
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or by a Special Economic Zone
developer or a Special
Economic Zone unit.
Explanation 1.––For the
purposes of this Act, where a
person has,––
(i) an establishment in India
and any other establishment
outside India;
(ii) an establishment in a State
or Union territory and any
other establishment outside
that State; or
(iii) an establishment in a
State or Union territory and
any other establishment
being a business vertical
registered within that State or
Union territory, then such
establishments shall be
treated as establishments of
distinct persons.
Explanation 2.––A person
carrying on a business
through a branch or an
agency or a representational
office in any territory shall be
treated as having an
establishment in that
territory.
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9 Supplies in
territorial
waters
Notwithstanding anything
contained in this Act,––
(a) where the location of the
supplier is in the territorial
waters, the location of such
supplier; or
(b) where the place of supply
is in the territorial waters, the
place of supply, shall, for the
purposes of this Act, be
deemed to be in the coastal
State or Union territory
where the nearest point of
the appropriate baseline is
located.
New clause added to have
clarity w.r.t. place of supply
involving territorial waters
and when the place of supply
will be the territory water it
will be deemed to be
considered from Coastal State
/ UT nearest point of baseline.
CHAPTER– V PLACE OF SUPPLY OF GOODS OR SERVICES OR BOTH
7 Place of supply of
goods other than
supply of goods
imported into, or
exported from
India
10 Place of supply
of goods other
than supply of
goods imported
into, or exported
from India.
(1) The place of supply of
goods, other than supply of
goods imported into, or
exported from India, shall be
as under,––
(a) where the supply involves
movement of goods, whether
by the supplier or the
recipient or by any other
person, the place of supply of
such goods shall be the
location of the goods at the
time at which the movement
No change
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of goods terminates for
delivery to the recipient;
(b) where the goods are
delivered by the supplier to a
recipient or any other person
on the direction of a third
person, whether acting as an
agent or otherwise, before or
during movement of goods,
either by way of transfer of
documents of title to the
goods or otherwise, it shall be
deemed that the said third
person has received the
goods and the place of supply
of such goods shall be the
principal place of business
of such person;
(c) where the supply does not
involve movement of goods,
whether by the supplier or
the recipient, the place of
supply shall be the location of
such goods at the time of the
delivery to the recipient;
(d) where the goods are
assembled or installed at site,
the place of supply shall
be the place of such
installation or assembly;
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(e) where the goods are
supplied on board a
conveyance, including a
vessel, an aircraft, a train or a
motor vehicle, the place of
supply shall be the location at
which such goods are taken
on board.
(2) Where the place of supply
of goods cannot be
determined, the place of
supply shall be determined in
such manner as may be
prescribed.
8 Place of supply of
goods imported
into, or exported
from India
11 Place of supply
of goods
imported into or
exported from
India.
The place of supply of goods,–
(a) imported into India shall
be the location of the
importer;
(b) exported from India shall
be the location outside India.
No change
9 Place of supply of
services where
the location of
supplier of
service and
the location of
the recipient of
service is in India
12 Place of supply
of services
where location
of supplier of
services and
location of
recipient of
services is in
India.
(1) The provisions of this
section shall apply to
determine the place of supply
of services where the location
of supplier of services and the
location of the recipient of
services is in India
(2) The place of supply of
services, except the services
specified in sub-sections (3)
No change except for
inclusion of Union State w.r.t.
place of supply of
advertisement services
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to (14),–
(a) made to a registered
person shall be the location of
such person;
(b) made to any person other
than a registered person shall
be,–
(i) the location of the
recipient where the address
on record exists; and
(ii) the location of the supplier
of services in other cases.
(3) The place of supply of
services,–
(a) directly in relation to an
immovable property,
including services provided
by architects, interior
decorators, surveyors,
engineers and other related
experts or estate agents, any
service provided by way of
grant of rights to use
immovable property or for
carrying out or co-ordination
of construction work; or
(b) by way of lodging
accommodation by a hotel,
inn, guest house, home stay,
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club or campsite, by whatever
name called, and including a
house boat or any other
vessel; or
(c) by way of accommodation
in any immovable property
for organising any marriage or
reception or matters related
thereto, official, social,
cultural, religious or business
function including services
provided in relation to such
function at such property; or
(d) any services ancillary to
the services referred to in
clauses (a), (b) and (c), shall
be the location at which the
immovable property or boat
or vessel, as the case may be,
is located or intended to be
located:
Provided that if the location
of the immovable property or
boat or vessel is located or
intended to be located
outside India, the place of
supply shall be the location of
the recipient.
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Explanation.––Where the
immovable property or boat
or vessel is located in more
than one State or Union
territory, the supply of
services shall be treated as
made in each of the
respective States or Union
territories, in proportion to
the value for services
separately collected or
determined in terms of the
contract or agreement
entered into in this regard or,
in the absence of such
contract or agreement, on
such other basis as may be
prescribed.
(4) The place of supply of
restaurant and catering
services, personal grooming,
fitness, beauty treatment,
health service including
cosmetic and plastic surgery
shall be the location where
the services are actually
performed.
(5) The place of supply of
services in relation to training
and performance appraisal
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to,––
(a) a registered person, shall
be the location of such
person;
(b) a person other than a
registered person, shall be
the location where the
services are actually
performed.
(6) The place of supply of
services provided by way of
admission to a cultural,
artistic, sporting, scientific,
educational, entertainment
event or amusement park or
any other place and services
ancillary thereto, shall be the
place where the event is
actually held or where the
park or such other place is
located.
(7) The place of supply of
services provided by way of :
(a) organisation of a cultural,
artistic, sporting, scientific,
educational or entertainment
event including supply of
services in relation to a
conference, fair, exhibition,
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celebration or similar events;
or
(b) services ancillary to
organisation of any of the
events or services referred to
in clause (a) , or assigning of
sponsorship to such events,––
(i) to a registered person, shall
be the location of such
person;
(ii) to a person other than a
registered person, shall be
the place where the event is
actually held and if the event
is held outside India, the place
of supply shall be the location
of the recipient.
Explanation.––Where the
event is held in more than one
State or Union territory and a
consolidated amount is
charged for supply of services
relating to such event, the
place of supply of such
services shall be taken as
being in each of the
respective States or Union
territories in proportion to
the value for services
separately collected or
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determined in terms of the
contract or agreement
entered into in this regard or,
in the absence of such
contract or agreement, on
such other basis as may be
prescribed.
(8) The place of supply of
services by way of
transportation of goods,
including by mail or courier
to,––
(a) a registered person, shall
be the location of such
person;
(b) a person other than a
registered person, shall be
the location at which such
goods are handed over for
their transportation.
(9) The place of supply of
passenger transportation
service to,—
(a) a registered person, shall
be the location of such
person;
(b) a person other than a
registered person, shall be
the place where the
passenger
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embarks on the conveyance
for a continuous journey:
Provided that where the right
to passage is given for future
use and the point of
embarkation is not known at
the time of issue of right to
passage, the place of supply
of such service shall be
determined in accordance
with the provisions of
sub-section (2).
Explanation.––For the
purposes of this sub-section,
the return journey shall be
treated as a separate journey,
even if the right to passage for
onward and return journey
is issued at the same time.
(10) The place of supply of
services on board a
conveyance, including a
vessel, an aircraft, a train or a
motor vehicle, shall be the
location of the first scheduled
point of departure of that
conveyance for the journey.
(11) The place of supply of
telecommunication services
including data transfer,
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broadcasting, cable and direct
to home television services to
any person shall,—
(a) in case of services by way
of fixed telecommunication
line, leased circuits, internet
leased circuit, cable or dish
antenna, be the location
where the
telecommunication line,
leased circuit or cable
connection or dish antenna is
installed for receipt of
services;
(b) in case of mobile
connection for
telecommunication and
internet services provided on
post-paid basis, be the
location of billing address of
the recipient of services on
the record of the supplier of
services;
(c) in cases where mobile
connection for
telecommunication, internet
service and direct to home
television services are
provided on pre-payment
39. Institute of Cost Accountants of India
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basis through a voucher or
any other means,–
(i) through a selling agent or a
re-seller or a distributor of
subscriber identity module
card or re-charge voucher, be
the address of the selling
agent or re-seller or
distributor as per the record
of the supplier at the time of
supply; or
(ii) by any person to the final
subscriber, be the location
where such prepayment
is received or such vouchers
are sold;
(d) in other cases, be the
address of the recipient as per
the records of the supplier of
services and where such
address is not available, the
place of supply shall be
location of the supplier of
services:
Provided that where the
address of the recipient as per
the records of the supplier of
services is not available, the
place of supply shall be
40. Institute of Cost Accountants of India
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location of the supplier of
services:
Provided further that if such
pre-paid service is availed or
the recharge is made through
internet banking or other
electronic mode of payment,
the location of the recipient
of services on the record of
the supplier of services shall
be the place of supply of such
services.
Explanation.––Where the
leased circuit is installed in
more than one State or Union
territory and a consolidated
amount is charged for supply
of services relating to such
circuit, the place of supply of
such services shall be taken as
being in each of the
respective States or Union
territories in proportion to
the value for services
separately collected or
determined in terms of the
contract or agreement
entered into in this regard or,
in the absence of such
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contract or agreement, on
such other basis as may be
prescribed.
(12) The place of supply of
banking and other financial
services, including stock
broking services to any
person shall be the location of
the recipient of services on
the records of the supplier of
services:
Provided that if the location
of recipient of services is not
on the records of the supplier,
the place of supply shall be
the location of the supplier of
services.
(13) The place of supply of
insurance services shall,––
(a) to a registered person, be
the location of such person;
(b) to a person other than a
registered person, be the
location of the recipient of
services on the records of the
supplier of services.
(14) The place of supply of
advertisement services to the
42. Institute of Cost Accountants of India
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Central Government, a State
Government, a statutory
body or a local authority
meant for the States or Union
territories identified in the
contract or agreement shall
be taken as being in each of
such States or Union
territories and the value of
such supplies specific to each
State or Union territory shall
be in proportion to the
amount attributable to
services provided by way of
dissemination in the
respective States or Union
territories as may be
determined in terms of the
contract or agreement
entered into in this regard or,
in the absence of such
contract or agreement, on
such other basis as may be
prescribed.
10 Place of supply of
services where
the location of
the supplier or
the
13 Place of supply
of services
where location
of supplier or
(1) The provisions of this
section shall apply to
determine the place of supply
of services where the location
of the supplier of services or
No change except for
inclusion of Union State where
services are in more than one
Union Territory
43. Institute of Cost Accountants of India
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location of the
recipient is
outside India
location of
recipient is
outside India.
the location of the recipient
of services is outside India.
(2) The place of supply of
services except the services
specified in sub-sections (3)
to (13) shall be the location of
the recipient of services:
Provided that where the
location of the recipient of
services is not available in the
ordinary course of business,
the place of supply shall be
the location of the supplier of
services.
(3) The place of supply of the
following services shall be the
location where the services
are actually performed,
namely:—
(a) services supplied in
respect of goods which are
required to be made
physically available by the
recipient of services to the
supplier of services, or to a
person acting on behalf of the
supplier of services in order to
provide the services:
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Provided that when such
services are provided from a
remote location by way
of electronic means, the place
of supply shall be the location
where goods are situated
at the time of supply of
services:
Provided further that nothing
contained in this clause shall
apply in the case of services
supplied in respect of goods
which are temporarily
imported into India for repairs
and are exported after repairs
without being put to any
other use in India, than that
which is required for such
repairs;
(b) services supplied to an
individual, represented either
as the recipient of services or
a person acting on behalf of
the recipient, which require
the physical presence of the
recipient or the person acting
on his behalf, with the
supplier for the supply of
services.
45. Institute of Cost Accountants of India
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(4) The place of supply of
services supplied directly in
relation to an immovable
property, including services
supplied in this regard by
experts and estate agents,
supply of accommodation by
a hotel, inn, guest house, club
or campsite, by whatever
name called, grant of rights to
use immovable property,
services for carrying out or co-
ordination of construction
work, including that of
architects or interior
decorators, shall be the place
where the immovable
property is located or
intended to be located.
(5) The place of supply of
services supplied by way of
admission to, or organisation
of a cultural, artistic, sporting,
scientific, educational or
entertainment event, or a
celebration, conference, fair,
exhibition or similar events,
and of services ancillary to
such admission or
organisation, shall be the
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place where the event is
actually held.
(6) Where any services
referred to in sub-section (3)
or sub-section (4) or sub-
section (5) is supplied at more
than one location, including a
location in the taxable
territory, its place of supply
shall be the location in the
taxable territory.
(7) Where the services
referred to in sub-section (3)
or sub-section (4) or
sub-section (5) are supplied in
more than one State or Union
territory, the place of supply
of such services shall be taken
as being in each of the
respective States or Union
territories and the value of
such supplies specific to each
State or Union territory shall
be in proportion to the value
for services separately
collected or determined in
terms of the contract or
agreement entered into in
this regard or, in the absence
of such contract or
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agreement, on such other
basis as may be prescribed.
(8) The place of supply of the
following services shall be the
location of the supplier
of services, namely:––
(a) services supplied by a
banking company, or a
financial institution, or a
non-banking financial
company, to account holders;
(b) intermediary services;
(c) services consisting of
hiring of means of transport,
including yachts but excluding
aircrafts and vessels, up to a
period of one month.
Explanation.––For the
purposes of this sub-section,
the expression,––
(a) “account” means an
account bearing interest to
the depositor, and includes a
non-resident external
account and a non-resident
ordinary account;
(b) “banking company” shall
have the same meaning as
assigned to it under clause (a)
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of section 45A of the Reserve
Bank of India Act, 1934;
(c) ‘‘financial institution” shall
have the same meaning as
assigned to it in clause (c) of
section 45-I of the Reserve
Bank of India Act, 1934;
(d) “non-banking financial
company” means,–
(i) a financial institution which
is a company;
(ii) a non-banking institution
which is a company and which
has as its principal business
the receiving of deposits,
under any scheme or
arrangement or in any other
manner, or lending in any
manner; or
(iii) such other non-banking
institution or class of such
institutions,
as the Reserve Bank of India
may, with the previous
approval of the
Central Government and by
notification in the Official
Gazette, specify.
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(9) The place of supply of
services of transportation of
goods, other than by way of
mail or courier, shall be the
place of destination of such
goods.
(10) The place of supply in
respect of passenger
transportation services shall
be the place where the
passenger embarks on the
conveyance for a continuous
journey.
(11) The place of supply of
services provided on board a
conveyance during the
course of a passenger
transport operation, including
services intended to be
wholly or substantially
consumed while on board,
shall be the first scheduled
point of departure of that
conveyance for the journey.
(12) The place of supply of
online information and
database access or retrieval
services shall be the location
of the recipient of services.
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Explanation.––For the
purposes of this sub-section,
person receiving such services
shall be deemed to be located
in the taxable territory, if any
two of the following
noncontradictory conditions
are satisfied, namely:––
(a) the location of address
presented by the recipient of
services through internet
is in the taxable territory;
(b) the credit card or debit
card or store value card or
charge card or smart card
or any other card by which
the recipient of services
settles payment has been
issued in the taxable territory;
(c) the billing address of the
recipient of services is in the
taxable territory;
(d) the internet protocol
address of the device used by
the recipient of services
is in the taxable territory;
(e) the bank of the recipient of
services in which the account
used for payment
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is maintained is in the taxable
territory;
(f) the country code of the
subscriber identity module
card used by the recipient
of services is of taxable
territory;
(g) the location of the fixed
land line through which the
service is received by
the recipient is in the taxable
territory.
(13) In order to prevent
double taxation or non-
taxation of the supply of a
service, or for the uniform
application of rules, the
Government shall have the
power to notify any
description of services or
circumstances in which the
place of supply shall be the
place of effective use and
enjoyment of a service.
12 Special provision
for payment of
tax by a supplier
of online
information and
14 Special provision
for
payment of tax
by a supplier of
online
information and
(1) On supply of online
information and database
access or retrieval services by
any person located in a non-
taxable territory and received
by a non-taxable online
No change
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database access
or retrieval
services located
outside India to
specified
person in the
taxable territory
database access
or retrieval
services
recipient, the supplier of
services located in a non-
taxable territory shall be the
person liable for paying
integrated tax on such supply
of services:
Provided that in the case of
supply of online information
and database access or
retrieval services by any
person located in a non-
taxable territory and received
by a nontaxable online
recipient, an intermediary
located in the non-taxable
territory, who arranges or
facilitates the supply of such
services, shall be deemed to
be the recipient of such
services from the supplier of
services in non-taxable
territory and supplying such
services to the
non-taxable online recipient
except when such
intermediary satisfies the
following conditions,
namely:––
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(a) the invoice or customer’s
bill or receipt issued or made
available by such
intermediary taking part in
the supply clearly identifies
the service in question and its
supplier in non-taxable
territory;
(b) the intermediary involved
in the supply does not
authorise the charge to the
customer or take part in its
charge which is that the
intermediary neither collects
or
processes payment in any
manner nor is responsible for
the payment between the
non-taxable online recipient
and the supplier of such
services;
(c) the intermediary involved
in the supply does not
authorise delivery; and
(d) the general terms and
conditions of the supply are
not set by the intermediary
involved in the supply but by
the supplier of services.
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(2) The supplier of online
information and database
access or retrieval services
referred to in sub-section (1)
shall, for payment of
integrated tax, take a single
registration under the
Simplified Registration
Scheme to be notified by the
Government:
Provided that any person
located in the taxable
territory representing such
supplier for any purpose in
the taxable territory shall get
registered and pay integrated
tax on behalf of the supplier:
Provided further that if such
supplier does not have a
physical presence or does not
have a representative for any
purpose in the taxable
territory, he may appoint a
person in the taxable territory
for the purpose of paying
integrated tax and such
person shall be liable for
payment of such tax.
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CHAPTER– VI REFUND OF INTEGRATED TAX TO INTERNATIONAL TOURIST
20 Refund of IGST
paid on supply of
goods to
outbound tourist
15 Refund of
integrated tax
paid on supply
of goods to
tourist leaving
India
The integrated tax paid by
tourist leaving India on any
supply of goods taken out of
India by him shall be refunded
in such manner and subject to
such conditions and
safeguards as may be
prescribed.
Explanation.– For the
purposes of this section, the
term “tourist” means a
person not normally resident
in India, who enters India for
a stay of not more than six
months for legitimate non-
immigrant purposes
No change except that
previous provision contained
a specific clause that refund
shall be allowed only on such
supply of goods that is
procured from a registered
taxable person who satisfies
the conditions and complies
with the requirement,
including relating to issue of
invoice in the prescribed
Manner. The conditions and
safeguards are anyways going
to be prescribed and hence
not required.
CHAPTER VII ZERO RATED SUPPLY
16(1) Zero rated
supply
16(1) Zero rated
supply
(1) “zero rated supply” means
any of the following supplies
of goods or services or both,
namely:––
(a) export of goods or services
or both; or
(b) supply of goods or services
or both to a Special Economic
No change
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Zone developer or a Special
Economic Zone unit.
16(2) Subject to provisions of sub-
section (3) of section 17 of the
CGST Act, 2016, credit of input
tax may be availed for making
zero-rated supplies,
notwithstanding that
such supply may be an exempt
supply
16(2) Subject to the provisions of
sub-section (5) of section 17
of the Central Goods and
Services Tax Act, credit of
input tax may be availed for
making zero-rated supplies,
notwithstanding that such
supply may be an exempt
supply.
No credit w.r.t. non-taxable
supply even if they are
pertaining to categories
covered under zero rated
supply
16(3) A registered taxable person
exporting goods or services shall
be eligible to claim refund under
one of the following two
options, namely
a) a registered taxable person
may export goods or services
under bond, subject to such
conditions, safeguards and
procedure as may be prescribed
in this regard, without payment
of IGST and claim refund of
unutilized input tax credit in
accordance with provisions of
section 48 of the CGST Act, 2016
read with rules made
thereunder;
(b) a registered taxable person
may export goods or services,
16(3) A registered person making
zero rated supply shall be
eligible to claim refund under
either of the following
options, namely:––
(a) he may supply goods or
services or both under bond
or Letter of Undertaking,
subject to such conditions,
safeguards and procedure as
may be prescribed, without
payment of integrated tax
and claim refund of unutilised
input tax credit; or
(b) he may supply goods or
services or both, subject to
such conditions, safeguards
and procedure as may be
prescribed, on payment of
Provision of export under
Legal Undertaking is included
Supply to SEZ Developer / Unit
is treated at par with physical
exports and the same will be
treated as Zero rated Supply
and will not attract IGST under
the bond / Letter of
Undertaking or pay the IGST
under the claim of refund.
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subject to such conditions,
safeguards and procedure as
may be prescribed in this regard,
on payment of IGST and claim
refund of IGST paid on goods
and services exported in
accordance with provisions of
section 48 of the CGST Act, 2016
read with rules made
thereunder.
integrated tax and claim
refund of such tax paid on
goods or services or both
supplied, in accordance with
the provisions of section 54 of
the Central Goods and
Services Tax Act or the rules
made thereunder.
16(4) (4) The SEZ developer or SEZ
unit receiving zero rated supply
specified in clause (a) of sub-
section (1) shall be eligible,
subject to the conditions,
safeguards and procedure as
may be prescribed in this
regard, to claim refund of IGST
paid by the registered taxable
person on such supply.
Deleted.
It is very welcome provision.
Now there is no confusion
whether supplies to SEZ will
be subjected to IGST. Now
Supplies to SEZ will be zero
rated and treated at par with
physical exports.
CHAPTER-VIII APPORTIONMENT OF TAX AND SETTLEMENT OF FUNDS
15 Apportionment
of tax collected
under the Act and
settlement of
funds
(1) Out of the IGST paid to the
Central Government in respect
of inter-State supply of goods
and/or services to an
unregistered person or to a
taxable person paying tax under
section 9 of the CGST Act, 2016
the amount of tax calculated at
17(1) Apportionment
of tax and
settlement of
funds.
Out of the integrated tax paid
to the Central Government,––
(a) in respect of inter-State
supply of goods or services or
both to an unregistered
person or to a registered
person paying tax under
Balance amount of integrated
tax remaining in the
integrated tax account in
respect of the supply for
which an apportionment to
the Central Government has
been done shall be done to
Central Government where
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the rate equivalent to the CGST
on similar intra-state supply
shall be apportioned to the
Central Government.
(2) Out of the IGST paid to the
Central Government in respect
of inter-State supply of goods
and/or services where such
taxable person is not eligible for
input tax credit, the amount of
tax calculated at the rate
equivalent to the CGST on
similar intra-State supply shall
be apportioned to the Central
Government.
(3) Out of the IGST paid to the
Central Government in respect
of inter-State supply of goods
and/or services made in a year
to a registered taxable person,
where he does not avail of the
said credit within the specified
period and thus remains in the
IGST account after expiry of the
due date for filing of annual
return for such year in which the
supply was made, the amount of
tax calculated at the rate
section 10 of the Central
Goods and Services Tax Act;
(b) in respect of inter-State
supply of goods or services or
both where the registered
person is not eligible for input
tax credit;
(c) in respect of inter-State
supply of goods or services or
both made in a financial
year to a registered person,
where he does not avail of the
input tax credit within the
specified period and thus
remains in the integrated tax
account after expiry of the
due date for furnishing of
annual return for such year in
which the supply was made;
(d) in respect of import of
goods or services or both by
an unregistered person
or by a registered person
paying tax under section 10 of
the Central Goods and
Services Tax Act;
(e) in respect of import of
goods or services or both
where the registered person
such supply takes place in a
Union territory.
Corresponding provisions
have been amended to
incorporate Central
Government in respect of
supplies of Union Territory
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equivalent to the CGST on
similar intra-State supply shall
be apportioned to the Central
Government.
(4) Out of the IGST paid to the
Central Government in respect
of import of goods and / or
services by an unregistered
person or by a taxable person
paying tax under section 9 of the
CGST Act, 2016 the amount of
tax calculated at the rate
equivalent to the CGST on
similar intra-State supply shall
be apportioned to the Central
Government.
(5) Out of the IGST paid to the
Central Government in respect
of import of goods and / or
services, where the such taxable
person is not eligible for input
tax credit, the amount of tax
calculated at the rate equivalent
to the CGST on similar intra-
State supply shall be
apportioned to the Central
Government.
is not eligible for input tax
credit;
(f) in respect of import of
goods or services or both
made in a financial year by
a registered person, where he
does not avail of the said
credit within the specified
period and thus remains in
the integrated tax account
after expiry of the due date
for furnishing of annual
return for such year in which
the supply was received, the
amount of tax calculated at
the rate equivalent to the
central tax on similar intra-
State supply shall be
apportioned to the Central
Government.
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(6) Out of the IGST paid to the
Central Government in respect
of import of goods and / or
services made in a year by a
registered taxable person,
where he does not avail of the
said credit within the specified
period and thus remains in the
IGST account after expiry of the
due date for filing of annual
return for such year in which the
supply was received, the
amount of tax calculated at the
rate equivalent to the CGST on
similar intra-State supply shall
be apportioned to the Central
Government.
(7) The balance amount of tax
remaining in the IGST account in
respect of the supply for which
an apportionment to the Central
Government has been done
under subsection (1), (2), (3),
(4), (5) or (6) shall be
apportioned to the State where
such supply takes place as per
sections 7, 8, 9 or 10:
17(2) The balance amount of
integrated tax remaining in
the integrated tax account in
respect of the supply for
which an apportionment to
the Central Government has
been done under sub-section
(1) shall be apportioned to
the,––
(a) State where such supply
takes place; and
Central Government in
respect of supply in Union
Territory
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PROVIDED that where the place
of such supply made by any
taxable person cannot be
determined separately, the said
balance amount shall be
apportioned to each of the
States to which such taxable
person has made supplies
during the financial year in the
proportion of the total supplies
made to each of such States:
PROVIDED FURTHER that where
the taxable person making such
supplies cannot be determined,
the said balance amount shall be
apportioned to all States as per
the order made by the President
under clause (2) of Article 270.
(b) Central Government
where such supply takes place
in a Union territory:
Provided that where the place
of such supply made by any
taxable person cannot be
determined separately, the
said balance amount shall be
apportioned to,––
(a) each of the States; and
(b) Central Government in
relation to Union territories,
in proportion to the total
supplies made by such
taxable person to each of
such States or Union
territories, as the case may
be, in a financial year:
Provided further that where
the taxable person making
such supplies is not
identifiable, the said balance
amount shall be apportioned
to all States and
the Central Government in
proportion to the amount
collected as State tax or, as
the case may be, Union
territory tax, by the
respective State or, as the
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case may be, by the Central
Government during the
immediately preceding
financial year.
(8) The provisions of sub-
sections (1), (2), (3), (4), (5), (6)
and (7) relating to
apportionment of tax shall
mutatis mutandis apply to the
apportionment of interest,
penalty and compounding
amount realized in connection
with the tax so apportioned.
17(3) The provisions of sub-sections
(1) and (2) relating to
apportionment of integrated
tax shall, mutatis mutandis
apply to the apportionment
of interest, penalty and
compounding amount
realised in connection with
the tax so apportioned.
No change
(9) Where an amount has been
apportioned to the Central
Government or a State
Government under sub-sections
(1), (2), (3), (4), (5), (6), (7) and
(8) the amount collected as IGST
shall stand reduced by an
amount equal to the amount so
apportioned and the Central
Government shall transfer to
the CGST account an amount
equal to an amount apportioned
to the Central Government and
shall transfer to the SGST
account of the State an amount
equal to an amount apportioned
17(4) Where an amount has been
apportioned to the Central
Government or a State
Government under sub-
section (1) or sub-section (2)
or sub-section (3), the
amount collected
as integrated tax shall stand
reduced by an amount equal
to the amount so apportioned
and the Central Government
shall transfer to the central
tax account or Union territory
tax account, an amount equal
to the respective amounts
apportioned to the Central
Government and shall
Amended to incorporate
provisions related to union
territory
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to that State, in the manner and
time as may be prescribed.
transfer to the State tax
account of the respective
States an amount equal to the
amount apportioned to that
State, in such manner and
within such time as may be
prescribed.
(10) Any IGST amount
apportioned to a State, if
subsequently found refundable
to any person and refunded to
such person, shall be reduced
from the amount apportioned
to such State under this section
or otherwise, in the manner and
time as may be prescribed.
17(5) Any integrated tax
apportioned to a State or, as
the case may be, to the
Central Government on
account of a Union territory, if
subsequently found to be
refundable to any person and
refunded to such person, shall
be reduced from the amount
to be apportioned under this
section, to such State, or
Central Government on
account of such Union
territory, in such manner and
within such time as may be
prescribed.
Amended to incorporate
provisions related to union
territory
14 Transfer of input
tax credit
(1) On utilization of input tax
credit availed under this Act for
payment of tax dues under the
CGST Act as per sub-section (5)
of section 11, the amount
collected as
18 Transfer of input
tax credit
On utilisation of credit of
integrated tax availed under
this Act for payment of,––
(a) Central tax in accordance
with the provisions of sub-
section (5) of section 49 of the
Central Goods and Services
Provision amended to
incorporate tax provisions of
utilisation of credit of
integrated tax availed under
this Act for payment of union
territory tax.
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IGST shall stand reduced by an
amount equal to the credit so
utilized and the Central
Government shall transfer an
amount equal to the amount so
reduced from the IGST account
to the CGST account in the
manner and time as may be
prescribed.
(2) On utilization of input tax
credit availed under this Act for
payment of tax dues under the
SGST Act as per sub-section (5)
of section 11, the amount
collected as
IGST shall stand reduced by an
amount equal to the credit so
utilized and shall be
apportioned to the appropriate
State government and the
Central Government shall
transfer the amount so
apportioned to account of the
appropriate State Government
in the manner and time as may
be prescribed.
Tax Act, the amount collected
as integrated tax shall stand
reduced by an amount equal
to the credit so utilised and
the Central Government shall
transfer an amount equal to
the amount so reduced from
the integrated tax account to
the central tax account in
such manner and within such
time as may be prescribed;
(b) Union territory tax in
accordance with the
provisions of section 9 of the
Union Territory Goods and
Services Tax Act, the amount
collected as integrated tax
shall stand reduced by an
amount equal to the credit so
utilised and the Central
Government shall transfer an
amount equal to the amount
so reduced from the
integrated tax account to the
Union territory tax account in
such manner and within such
time as may be prescribed;
(c) State tax in accordance
with the provisions of the
respective State Goods and
Explanation inserted to define
appropriate state
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Services Tax Act, the amount
collected as integrated tax
shall stand reduced by an
amount equal to the credit so
utilised and shall be
apportioned to the
appropriate State
Government and the Central
Government shall transfer the
amount so apportioned to the
account of the appropriate
State Government in such
manner and within such time
as may be prescribed.
Explanation.––For the
purposes of this Chapter,
“appropriate State” in
relation to a taxable person,
means the State or Union
territory where he is
registered or is liable to be
registered under the
provisions of the Central
Goods and Services Tax Act.
19 Tax wrongfully
collected and
deposited with
the Central or a
State
Government
(1) A taxable person who has
paid IGST on a supply
considered by him to be an
inter-state supply, but which is
subsequently found to be an
intra-State supply, shall, be
19 Tax wrongfully
collected and
paid to Central
Government or
State
Government.
(1) A registered person who
has paid integrated tax on a
supply considered by him to
be an inter-State supply, but
which is subsequently held to
be an intra-State supply, shall
Amended to incorporate
provisions related to union
territory tax in line with CGST
/ SGST
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granted refund of the amount of
IGST so paid in such manner and
subject to such conditions as
may be prescribed.
(2) A taxable person who has
paid CGST / SGST on a
transaction considered by him
to be an intra-State supply, but
which is subsequently found to
be an inter-State supply, shall
not be required to pay any
interest on the amount of IGST
payable
be granted refund of the
amount of integrated tax so
paid in such manner and
subject to such conditions as
may be prescribed.
(2) A registered person who
has paid central tax and State
tax or Union territory tax,
as the case may be, on a
transaction considered by
him to be an intra-State
supply, but which is
subsequently held to be an
inter-State supply, shall not
be required to pay any
interest on the amount of
integrated tax payable.
17 Application of
certain
provisions of the
CGST Act, 2016
The provisions relating to
registration, valuation, time of
supply of goods, time of supply
of services, change in rate of tax
in respect of supply of goods or
services, input tax credit and
utilization thereof, distribution
of input tax credit by an Input
Service Distributor, job work,
accounts and records, payment,
tax deduction at source, return,
tax collection at source, audit,
20 Application of
provisions of
Central Goods
and Services
Tax Act.
Subject to the provisions of
this Act and the rules made
thereunder, the provisions
of Central Goods and Services
Tax Act relating to,––
(i) scope of supply;
(ii) composite supply and
mixed supply;
(iii) time and value of supply;
(iv) input tax credit;
(v) registration;
(vi) tax invoice, credit and
debit notes;
Now, additional provision
w.r.t. transitional provision
and misc. provision of CGST
Law has been made applicable
to IGST.
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assessment, adjudication,
demands, refunds, interest,
recovery of tax, offences and
penalties, inspection, search
and seizure, prosecution and
power to arrest, appeals,
review, advance ruling and
compounding shall apply, so far
as may be, in relation to the levy
of tax under this Act as they
apply in relation to levy of tax
under the CGST Act, 2016
Provided that in the case of tax
deduction at source, the
deductor shall deduct tax at the
rate of two percent from the
payment made or credited to
the supplier:
Provided further that in the case
of tax collection at source, the
operator shall collect tax at the
rate of two percent of the value
of net supplies.
(vii) accounts and records;
(viii) returns, other than late
fee;
(ix) payment of tax;
(x) tax deduction at source;
(xi) collection of tax at source;
(xii) assessment;
(xiii) refunds;
(xiv) audit;
(xv) inspection, search,
seizure and arrest;
(xvi) demands and recovery;
(xvii) liability to pay in certain
cases;
(xviii) advance ruling;
(xix) appeals and revision;
(xx) presumption as to
documents;
(xxi) offences and penalties;
(xxii) job work;
(xxiii) electronic commerce;
(xxiv) transitional provisions;
and
(xxv) miscellaneous
provisions including the
provisions relating to the
imposition of interest and
penalty, shall, mutatis
mutandis, apply, so far as may
be, in relation to integrated
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tax as they apply in relation to
central tax as if they are
enacted under this Act:
Provided that in the case of
tax deducted at source, the
deductor shall deduct tax at
the rate of two per cent. from
the payment made or
credited to the supplier:
Provided further that in the
case of tax collected at
source, the operator shall
collect tax at such rate not
exceeding two per cent, as
may be notified on the
recommendations of the
Council, of the net value of
taxable supplies:
Provided also that for the
purposes of this Act, the value
of a supply shall include any
taxes, duties, cesses, fees and
charges levied under any law
for the time being in force
other than this Act, and the
Goods and Services Tax
(Compensation to States) Act,
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if charged separately by the
supplier:
Provided also that in cases
where the penalty is leviable
under the Central Goods and
Services Tax Act and the State
Goods and Services Tax Act or
the Union Territory Goods
and Services Tax Act, the
penalty leviable under this Act
shall be the sum total of the
said penalties.
21 Import of services
or inter-State
supply of goods
and/or services
made on or after
the appointed
day
Import of services made on or
after the appointed day shall be
liable to tax under
the provisions of this Act
regardless of whether the
transactions for such import of
services
had been initiated before the
appointed day:
Provided that if the tax on such
import of services had been paid
in full under the
existing law, no tax shall be
payable on such import under
this Act:
Provided further that if the tax
on such import of services had
been paid in part under
21 Import of
services made
on or after the
appointed day
Import of services made on or
after the appointed day shall
be liable to tax under the
provisions of this Act
regardless of whether the
transactions for such import
of services had been initiated
before the appointed day:
Provided that if the tax on
such import of services had
been paid in full under the
existing law, no tax shall be
payable on such import under
this Act:
Provided further that if the
tax on such import of services
had been paid in part under
No change
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the existing law, the balance
amount of tax shall be payable
on such import under this Act.
Explanation.––For the purposes
of this section, a transaction
shall be deemed to
have been initiated before the
appointed day if either the
invoice relating to such supply
or
payment, either in full or in part,
has been received or made
before the appointed day.
the existing law, the balance
amount of tax shall be
payable on such import under
this Act.
Explanation.––For the
purposes of this section, a
transaction shall be deemed
to have been initiated before
the appointed day if either
the invoice relating to such
supply or payment, either in
full or in part, has been
received or made before the
appointed day.
18 Power to make
rules
(1) The Central Government
may, on the recommendation of
the Council, by notification,
make rules for carrying out the
purposes of this Act.
(2) In particular and without
prejudice to the generality of
the foregoing power, such rules
may
(a) provide for settlement of
cases in accordance with
Chapter XII of this
Act;
(b) provide for all or any of the
matters which under any
provision of this Act are
22 Power to make
rules.
(1) The Government may, on
the recommendations of the
Council, by notification, make
rules for carrying out the
provisions of this Act.
(2) Without prejudice to the
generality of the provisions of
sub-section (1), the
Government may make rules
for all or any of the matters
which by this Act are required
to be, or may be, prescribed
or in respect of which
provisions are to be or may be
made by rules.
Power given to the
Government to give
retrospective effect to the
rules from a date not earlier
than the date on which the
provisions of this Act come
into force
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required to be prescribed or to
be provided for by rules.
(3) The power to make rules
conferred by this section shall
include the power to give
retrospective effect to the
rules or any of them from a
date not earlier than the date
on which the provisions of
this Act come into force.
(4) Any rules made under sub-
section (1) may provide that a
contravention thereof shall
be liable to a penalty not
exceeding ten thousand
rupees.
23 Power to make
Regulations
The Board may, by
notification, make regulations
consistent with this Act and
the rules made thereunder to
carry out the provisions of this
Act.
New Section giving power to
the Board to make regulations
24 Laying of rules,
regulations and
notifications
Every rule made by the
Government, every
regulation made by the Board
and every notification issued
by the Government under this
Act, shall be laid, as soon as
may be, after it is made or
issued, before each House of
Parliament, while it is in
session, for a total period of
Fantastic provision in the
legislative history of any act.
Any notification, rules issued
will have to be tabled before
each house of the parliament
either in the same session or
one or two or more successive
sessions immediately
following the sessions when
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thirty days which may be
comprised in one session or in
two or more successive
sessions, and if, before the
expiry of the session
immediately following the
session or the successive
sessions aforesaid, both
Houses agree in making any
modification in the rule or
regulation or in the
notification, as the case may
be, or both Houses agree that
the rule or regulation or the
notification should not be
made, the rule or regulation
or notification, as the case
may be, shall thereafter have
effect only in such modified
form or be of no effect, as the
case may be; so, however,
that any such modification or
annulment shall be without
prejudice to the validity of
anything previously done
under that rule or regulation
or notification, as the case
may be.
such rules / notifications
where issued and the same
has to be agreed by both
houses and if the same is
modified by both houses, then
such rules and regulations
may be annulled but it will be
prospective
Procedure for laying down /
modifications of rules,
regulations, notifications is
specified
25 Removal of
difficulties
(1) If any difficulty arises in
giving effect to any provision
Government is empowered to
make provisions for removing
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of this Act, the Government
may, on the
recommendations of the
Council, by a general or a
special order published in the
Official Gazette, make such
provisions not inconsistent
with the provisions of this Act
or the rules or regulations
made thereunder, as may be
necessary or expedient for
the purpose of removing the
said difficulty:
Provided that no such order
shall be made after the expiry
of a period of three years
from the date of
commencement of this Act.
(2) Every order made under
this section shall be laid, as
soon as may be, after it is
made, before each House of
Parliament.
difficulties arising in
implementation of provisions
of the Act subject to specified
limitations