The document provides a summary of recent GST updates from the Central Board of Excise and Customs (CBEC) in December 2017, including:
1. Notifications extending various GST return filing deadlines to January 31, 2018.
2. Circulars clarifying issues regarding tax treatment of art supplies and maintenance of account books for auctioneers.
3. A circular outlining the manual process for filing refund claims until the online system is available, including refunds for inverted duty structures, deemed exports, and excess ledger balances.
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.
The document discusses key provisions related to exports of goods in the GST regime, including definitions, rules and procedures for claiming refunds on zero-rated supplies. It provides details on sections and rules governing zero-rated supplies, input tax credit, blocked credits, and the options and processes for claiming refunds on exports - either without payment of tax by furnishing a letter of undertaking or bond, or by paying tax upfront and then claiming refund. It also summarizes the relevant circulars issued with respect to furnishing letters of undertaking or bonds for exports.
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 document compares tax invoice rules and requirements under the current tax regime to those under the new GST regime. Key changes under GST include requiring place of supply and HSN/accounting codes on invoices. The GST regime introduces provisions for bill of supply, receipt vouchers, refund vouchers, and delivery challans. Special cases like input service distributors and transport agencies have their own invoice requirements. Overall, the GST invoice rules aim to standardize and simplify compliance for taxpayers.
Taxguru.in gst compliance calendar oct 21 important legal developmentstaxguru4
The summary provides an overview of the key points from the GST compliance calendar and legal developments for October 2021:
1. Important circulars were issued clarifying that refund of wrongly paid CGST/SGST/IGST can be claimed within 2 years and that for debit notes issued on or after January 1, 2021, the date of debit note will determine the financial year for ITC availment.
2. The October 2021 GST compliance deadlines include filing GSTR-1, GSTR-3B, annual returns and reconciliation statements.
3. The GST portal was updated to allow fetching of bill of entry details and generating e-way bills for supply of services with movement of goods.
Taxguru.in gst compliance calendar oct 21 important legal developmentstaxguru4
The refund under section 77 of CGST Act! Section 19 of IGST Act, 2017 can be claimed
before the expiry of two years from the date of payment of tax under the correct head, i.e. integrated tax paid in respect of subsequently held inter-State supply, or central and state tax in respect of subsequently held intra-State supply, as the case may be..
Read more athttps://taxguru.in/goods-and-service-tax/gst-compliance-calendar-oct-21-important-legal-developments.html
Refunds under GST & Impact of GST Audit on Statutory/ Tax AuditsGST Law India
The following presentation enumerates how to claim refund under GST and also auditing mechanism such as auditing by a chartered accountant, taxing authorities and special audit under GST. The presentation also details out the treatment of zero rated supplies and deemed export.
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.
The document discusses key provisions related to exports of goods in the GST regime, including definitions, rules and procedures for claiming refunds on zero-rated supplies. It provides details on sections and rules governing zero-rated supplies, input tax credit, blocked credits, and the options and processes for claiming refunds on exports - either without payment of tax by furnishing a letter of undertaking or bond, or by paying tax upfront and then claiming refund. It also summarizes the relevant circulars issued with respect to furnishing letters of undertaking or bonds for exports.
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 document compares tax invoice rules and requirements under the current tax regime to those under the new GST regime. Key changes under GST include requiring place of supply and HSN/accounting codes on invoices. The GST regime introduces provisions for bill of supply, receipt vouchers, refund vouchers, and delivery challans. Special cases like input service distributors and transport agencies have their own invoice requirements. Overall, the GST invoice rules aim to standardize and simplify compliance for taxpayers.
Taxguru.in gst compliance calendar oct 21 important legal developmentstaxguru4
The summary provides an overview of the key points from the GST compliance calendar and legal developments for October 2021:
1. Important circulars were issued clarifying that refund of wrongly paid CGST/SGST/IGST can be claimed within 2 years and that for debit notes issued on or after January 1, 2021, the date of debit note will determine the financial year for ITC availment.
2. The October 2021 GST compliance deadlines include filing GSTR-1, GSTR-3B, annual returns and reconciliation statements.
3. The GST portal was updated to allow fetching of bill of entry details and generating e-way bills for supply of services with movement of goods.
Taxguru.in gst compliance calendar oct 21 important legal developmentstaxguru4
The refund under section 77 of CGST Act! Section 19 of IGST Act, 2017 can be claimed
before the expiry of two years from the date of payment of tax under the correct head, i.e. integrated tax paid in respect of subsequently held inter-State supply, or central and state tax in respect of subsequently held intra-State supply, as the case may be..
Read more athttps://taxguru.in/goods-and-service-tax/gst-compliance-calendar-oct-21-important-legal-developments.html
Refunds under GST & Impact of GST Audit on Statutory/ Tax AuditsGST Law India
The following presentation enumerates how to claim refund under GST and also auditing mechanism such as auditing by a chartered accountant, taxing authorities and special audit under GST. The presentation also details out the treatment of zero rated supplies and deemed export.
This presentation enumerates a detailed study on the need of GST, concept, benefit, constitutional provisions and amendments, important definitions and how goods and services will be taxed under GST and how to take refund of tax paid through ITC.
The document discusses the role of customs under the GST regime and procedures related to export. There are two options for export under GST - export under bond/LUT without IGST payment and claiming refund of unutilized credits, or export with payment of IGST and claiming refund of the tax paid. The document outlines the procedures for each option, including requirements for furnishing an LUT/bond, validation processes for IGST refunds, and changes to drawback rules and rates under the new regulations. It also covers self-sealing and electronic sealing procedures for exports.
The document discusses input tax credit (ITC) under the GST Act of 2017. It provides definitions of key terms related to ITC such as input tax, input goods and services, capital goods, and output tax. It outlines the eligibility conditions and limitations for claiming ITC, including possessing valid documents, receiving goods/services, paying suppliers, and filing returns. It discusses apportionment of credit for business and non-business use as well as taxable and exempt supplies. Blocked credits are listed for certain goods/services like motor vehicles. The utilization and ledgers for ITC under GST are also summarized.
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)
Tax Alerts cover significant tax news, developments and changes in legislation that affect Indian businesses. They act as technical summaries to keep you on top of the latest tax issues. For more information, please contact your EY advisor. For more information : http://www.ey.com/in/en/services/ey-goods-and-services-tax-gst
Composition Scheme Registration Invoicing Returns Payment of Tax under GST.GST Law India
The following presentation focuses on Composition Scheme under GST, how Registration under composition scheme is to be done, invoicing, filing of returns and how is to be paid under this scheme.
This document is the Value Added Tax Act of Bangladesh from 1991. Some key points:
- It establishes a 15% value added tax on most goods imported into or produced in Bangladesh, as well as services rendered in Bangladesh, with some exemptions.
- Zero-rated tax applies to exported goods and services.
- VAT is paid by importers on imported goods, producers/manufacturers on goods produced locally, service providers for services, and suppliers in other cases.
- It defines various terms related to VAT like input tax, output tax, taxable goods and services, and establishes rules around determination of the tax base and timing of tax payments.
Taxmann's GST Tariff with GST Rate Reckoner (Set of 2 Volumes)Taxmann
Taxmann’s GST Tariff contains GST Tariff for Goods and Services. It provides HSN-wise and SAC-wise Tariff of all the Goods and Services.
The Present Publication is the 14th Edition, authored by Taxmann’s Editorial Board, is amended up to 1st February 2021, with the following noteworthy features:
Taxmann's series of Bestseller Books on GST Tariff
Follows the six-sigma approach, to achieve the benchmark of 'zero error'
The Present Publication is published in two volumes & divided into 6 divisions, which are listed as follows:
•GST Tariff for Goods with HSN Code
Rates Specified in other Acts
•GST Rate Reckoner for Goods/Commodity Index
•GST Tariff for Services
Services Index
•GST Tariff Notifications (Rate of Tax and Exemptions)
The details coverage of the book is as follows:
•GST Tariff for Goods with HSN Code
•Arrangement of Chapters
•GST Tariff for Goods with HSN Code
•General Rules for the Interpretation of this schedule
•Rates Specified in other Acts
•Rates specified in Central Excise Act
•National Calamity Contingent Duty
•Additional Duty on Tobacco
•Additional Duty on Motor Spirit (Petrol)
•Additional Duty on High Speed Diesel Oil
•Special Additional Excise Duty on Motor Spirit and High Speed Diesel Oil
•Road & Infrastructure Cess
•Agriculture Infrastructure and Development Cess
•GST Rate Reckoner for Goods/Commodity Index
•GST Tariff for Services
•Arrangement of Services
•Central Goods & Services Tax/State Goods & Service Tax Tariff for Services
•Integrated Goods & Services Tax Tariff for Services
•Compensation Cess
•Rate of Tax and Exemption Notifications for Services
•Reverse Charge in case of intra-State supplies of services
•Reverse Charge in case of inter-State supplies of services
•Notified categories of services the tax on intra-State/inter-State supplies of which shall be paid by electronic commerce operator
•No refund of unutilised Input Tax Credit
•Notified registered persons who shall pay tax on reverse charge basis on certain specified supplies of goods or services or both received from an unregistered supplier
•Notified rate of tax to be levied on specified first intra-State supplies of goods or services
•Latest Clarifications
•Latest Case Laws
•Explanatory Notes
•Services Index
•GST Tariff Notifications (Rate of Tax and Exemptions)
Taxmann’s Ultimate Best-Seller for Indirect Taxes – ‘GST Ready Reckoner', is a ready referencer for all provisions of the GST Law. It covers all important topics of GST along with relevant Case Laws, Notifications, Circulars, etc.
The Present Publication is the 15th Edition, authored by Mr. V.S. Datey & Updated till 1st February 2021. This book follows the Six-Sigma approach to achieve the benchmark of ‘zero-error’.
The book has been divided into 55 chapters in respect of all-important-provisions of GST, including the following:
•GST – An Overview
•IGST, CGST, SGST and UTGST
•Taxable Event in GST
•Supply of Goods or Services or both
•Classification of Goods and Services
•Value of Taxable Supply of Goods or Services or both
•Valuation Rules if value for GST not ascertainable
•VAT concept and its application in GST
•Input Tax Credit
•Input Tax Credit – Other Issues
•Input Tax Credit when exempted as well as taxable supplies made
•Input Service Distributor
•Persons liable to tax
•Place of supply of goods or services or both other than exports or impacts
•Place of supply in case of export or import of goods or services or both
•Exports and Imports
•Special Economic Zones and EOU
•Time of Supply of Goods and Services
•Reverse Charge
•Exemption from GST by issue of Notification
•Concession to small enterprises in GST
•Construction and Works Contract Services
•Real Estate Services relating to residential and commercial apartments
•TDR/FSI/Upfront amount in long term lease in real estate transactions
•Distributive Trade Services
•Passenger Transport Services
•Financial and related services
•Leasing or rental services and licensing services
•Software and IPR Services
•Business and production services
•Job Work
•Telecommunication, broadcasting and information supply
Community social, personal and other services
Government related activities
•Basic procedures in GST
•Registration under GST
•Tax Invoice, Credit and Debit Notes
•E-way Bill for transport of goods
•Payment of taxes by cash and through input tax credit
Returns under GST
•Assessment and Audit
•Demands and recovery
•Refund in GST
•Powers of GST Officers
•Offences and penalties
•First Appeal and revision in GST
•Appeal before Appellate Tribunal
•Appeals before High Court and Supreme Court
•Prosecution and compounding
•Provisions relating to evidence
•Electronic Commerce
•Miscellaneous issues in GST
•GST Compensation Cess
•Transitory Provisions
•Constitutional Background of GST
Also Available
[15th Edition] of Taxmann’s GST Manual with GST Law Guide & Digest of Landmark Rulings
[14th Edition] of Taxmann’s GST Tariff with GST Rate Reckoner
[10th Edition] of Taxmann’s GST How to Meet Your Obligations
[2nd Edition] of Taxmann’s GST Case Laws Digest (A Section-wise Case Book of 1,900+ Judgements)
This document outlines rules related to Value Added Tax (VAT) in Bangladesh. It discusses several key points:
1) It defines important terms related to VAT such as "tax", "registered person", and "divisional officer".
2) It establishes procedures for registered persons/businesses to declare the value of goods and services for tax assessment purposes using specified forms. It also allows for reassessment of declared values.
3) It provides rules for businesses with annual turnover under 20 lakh Taka to pay a flat 4% "turnover tax" by enlisting with tax authorities and filing periodic returns. Higher penalties are outlined for noncompliance.
4) It delegates powers to VAT officers to
The document summarizes the process for migrating existing taxpayers to the Goods and Services Tax (GST) system in India. It involves the following key steps:
1. Taxpayers obtain a GSTN login ID and password from the aces.gov.in website to complete the enrollment process on gst.gov.in.
2. Taxpayers complete the enrollment process on gst.gov.in by providing business and registration details as well as uploading required documents.
3. Upon successful submission, taxpayers receive a provisional GSTIN and final registration within 6 months if all information is verified correctly.
31 May Weekly Newsletter - N Pahilwani & AssociatesNitin Pahilwani
This weekly newsletter contains income tax and GST updates for the week. For income tax, it summarizes changes to ITR forms for AY 2020-21 including new schedules for investments, the launch of instant PAN through Aadhaar-based e-KYC, and notifications regarding annual information statements replacing Form 26AS. For GST, it provides updates on the GST portal including new registration options for insolvency professionals and enabling EVC filing for companies. It also summarizes some judicial rulings related to transfer of goods ownership, tax deduction at source on exempt supplies, and authority of subordinate officers.
- There are common e-returns for CGST, SGST, and IGST under GST.
- Every registered person is required to file monthly returns by the 10th of the following month, even if there are no business activities during the period. This includes filing a 'Nil' return.
- Key forms include GSTR-1 for outward supplies, GSTR-2 for inward supplies, and GSTR-3 as the monthly return. Late fees apply for delayed filing.
What, When, Why & How on E-Way Bill under GSTMinal Mehta
To provide with an overview and understanding about E-Way bill we have prepared a brief presentation capturing "What, When, Why & How on E-WAY Bill" in a simplified manner.
The document discusses the eligibility and conditions for claiming input tax credit under the GST Acts. Some key points:
- Input tax includes IGST, CGST, SGST charged on supplies of goods/services to a registered person. It excludes tax paid under a composition scheme.
- A registered person is eligible for input tax credit for inputs used in furtherance of business, provided the invoice/debit note and tax charged is valid.
- Special rules apply for claiming credit on capital goods and in situations like change in registration status.
- Certain items like motor vehicles and goods for personal use are blocked and credit cannot be claimed.
The document discusses input tax credit (ITC) under the Goods and Services Tax (GST) regime in India. Some key points:
1. ITC aims to ensure tax is levied only on value addition at each stage of supply chain to eliminate cascading of taxes. Only registered taxpayers can claim ITC subject to certain conditions.
2. Eligible inputs/services include those used in business. Capital goods are eligible for ITC over multiple years. ITC must be claimed within prescribed time limits and supported by valid documents.
3. ITC is allowed for taxable and zero-rated supplies but not for exempt, non-taxable or personal consumption. Credit must be apportioned
This document provides an overview of various transitional provisions under GST law. It discusses provisions related to carrying forward of CENVAT/VAT credits, input tax credit for inputs/capital goods held in stock, deemed credit for stocks, job work, and miscellaneous provisions. Key highlights include:
1) Registered persons can carry forward CENVAT credit from previous returns and avail input tax credit for inputs/capital goods in stock as on June 30, 2017.
2) Deemed credit at 60% for goods taxable at 18% or more rate and 40% for goods taxable at sub-18% rate is available for stocks held on July 1, 2017.
3) No tax will
The document compares normal tax payers under Section 9 of the CGST Act to composition levy tax payers under Section 10. Composition levy is an option for small businesses with turnover less than Rs. 1 crore to pay tax at a concessional rate instead of the normal rates. Composite and mixed supplies are classified based on their principal supply, while normal and composition levy taxpayers are distinguished based on aggregate turnover.
This document provides a summary of recent judicial pronouncements and clarifications related to Goods and Services Tax (GST) in India. It discusses several court rulings that have impacted taxpayers, including cases related to registration corrections, determining inter-state supplies, and application deadlines. It also summarizes a circular clarifying the applicability of IGST on goods transferred while in customs bonded warehouses. The editorial emphasizes that litigation is expected to increase as the new GST laws continue to evolve.
This presentation enumerates a detailed study on the need of GST, concept, benefit, constitutional provisions and amendments, important definitions and how goods and services will be taxed under GST and how to take refund of tax paid through ITC.
The document discusses the role of customs under the GST regime and procedures related to export. There are two options for export under GST - export under bond/LUT without IGST payment and claiming refund of unutilized credits, or export with payment of IGST and claiming refund of the tax paid. The document outlines the procedures for each option, including requirements for furnishing an LUT/bond, validation processes for IGST refunds, and changes to drawback rules and rates under the new regulations. It also covers self-sealing and electronic sealing procedures for exports.
The document discusses input tax credit (ITC) under the GST Act of 2017. It provides definitions of key terms related to ITC such as input tax, input goods and services, capital goods, and output tax. It outlines the eligibility conditions and limitations for claiming ITC, including possessing valid documents, receiving goods/services, paying suppliers, and filing returns. It discusses apportionment of credit for business and non-business use as well as taxable and exempt supplies. Blocked credits are listed for certain goods/services like motor vehicles. The utilization and ledgers for ITC under GST are also summarized.
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)
Tax Alerts cover significant tax news, developments and changes in legislation that affect Indian businesses. They act as technical summaries to keep you on top of the latest tax issues. For more information, please contact your EY advisor. For more information : http://www.ey.com/in/en/services/ey-goods-and-services-tax-gst
Composition Scheme Registration Invoicing Returns Payment of Tax under GST.GST Law India
The following presentation focuses on Composition Scheme under GST, how Registration under composition scheme is to be done, invoicing, filing of returns and how is to be paid under this scheme.
This document is the Value Added Tax Act of Bangladesh from 1991. Some key points:
- It establishes a 15% value added tax on most goods imported into or produced in Bangladesh, as well as services rendered in Bangladesh, with some exemptions.
- Zero-rated tax applies to exported goods and services.
- VAT is paid by importers on imported goods, producers/manufacturers on goods produced locally, service providers for services, and suppliers in other cases.
- It defines various terms related to VAT like input tax, output tax, taxable goods and services, and establishes rules around determination of the tax base and timing of tax payments.
Taxmann's GST Tariff with GST Rate Reckoner (Set of 2 Volumes)Taxmann
Taxmann’s GST Tariff contains GST Tariff for Goods and Services. It provides HSN-wise and SAC-wise Tariff of all the Goods and Services.
The Present Publication is the 14th Edition, authored by Taxmann’s Editorial Board, is amended up to 1st February 2021, with the following noteworthy features:
Taxmann's series of Bestseller Books on GST Tariff
Follows the six-sigma approach, to achieve the benchmark of 'zero error'
The Present Publication is published in two volumes & divided into 6 divisions, which are listed as follows:
•GST Tariff for Goods with HSN Code
Rates Specified in other Acts
•GST Rate Reckoner for Goods/Commodity Index
•GST Tariff for Services
Services Index
•GST Tariff Notifications (Rate of Tax and Exemptions)
The details coverage of the book is as follows:
•GST Tariff for Goods with HSN Code
•Arrangement of Chapters
•GST Tariff for Goods with HSN Code
•General Rules for the Interpretation of this schedule
•Rates Specified in other Acts
•Rates specified in Central Excise Act
•National Calamity Contingent Duty
•Additional Duty on Tobacco
•Additional Duty on Motor Spirit (Petrol)
•Additional Duty on High Speed Diesel Oil
•Special Additional Excise Duty on Motor Spirit and High Speed Diesel Oil
•Road & Infrastructure Cess
•Agriculture Infrastructure and Development Cess
•GST Rate Reckoner for Goods/Commodity Index
•GST Tariff for Services
•Arrangement of Services
•Central Goods & Services Tax/State Goods & Service Tax Tariff for Services
•Integrated Goods & Services Tax Tariff for Services
•Compensation Cess
•Rate of Tax and Exemption Notifications for Services
•Reverse Charge in case of intra-State supplies of services
•Reverse Charge in case of inter-State supplies of services
•Notified categories of services the tax on intra-State/inter-State supplies of which shall be paid by electronic commerce operator
•No refund of unutilised Input Tax Credit
•Notified registered persons who shall pay tax on reverse charge basis on certain specified supplies of goods or services or both received from an unregistered supplier
•Notified rate of tax to be levied on specified first intra-State supplies of goods or services
•Latest Clarifications
•Latest Case Laws
•Explanatory Notes
•Services Index
•GST Tariff Notifications (Rate of Tax and Exemptions)
Taxmann’s Ultimate Best-Seller for Indirect Taxes – ‘GST Ready Reckoner', is a ready referencer for all provisions of the GST Law. It covers all important topics of GST along with relevant Case Laws, Notifications, Circulars, etc.
The Present Publication is the 15th Edition, authored by Mr. V.S. Datey & Updated till 1st February 2021. This book follows the Six-Sigma approach to achieve the benchmark of ‘zero-error’.
The book has been divided into 55 chapters in respect of all-important-provisions of GST, including the following:
•GST – An Overview
•IGST, CGST, SGST and UTGST
•Taxable Event in GST
•Supply of Goods or Services or both
•Classification of Goods and Services
•Value of Taxable Supply of Goods or Services or both
•Valuation Rules if value for GST not ascertainable
•VAT concept and its application in GST
•Input Tax Credit
•Input Tax Credit – Other Issues
•Input Tax Credit when exempted as well as taxable supplies made
•Input Service Distributor
•Persons liable to tax
•Place of supply of goods or services or both other than exports or impacts
•Place of supply in case of export or import of goods or services or both
•Exports and Imports
•Special Economic Zones and EOU
•Time of Supply of Goods and Services
•Reverse Charge
•Exemption from GST by issue of Notification
•Concession to small enterprises in GST
•Construction and Works Contract Services
•Real Estate Services relating to residential and commercial apartments
•TDR/FSI/Upfront amount in long term lease in real estate transactions
•Distributive Trade Services
•Passenger Transport Services
•Financial and related services
•Leasing or rental services and licensing services
•Software and IPR Services
•Business and production services
•Job Work
•Telecommunication, broadcasting and information supply
Community social, personal and other services
Government related activities
•Basic procedures in GST
•Registration under GST
•Tax Invoice, Credit and Debit Notes
•E-way Bill for transport of goods
•Payment of taxes by cash and through input tax credit
Returns under GST
•Assessment and Audit
•Demands and recovery
•Refund in GST
•Powers of GST Officers
•Offences and penalties
•First Appeal and revision in GST
•Appeal before Appellate Tribunal
•Appeals before High Court and Supreme Court
•Prosecution and compounding
•Provisions relating to evidence
•Electronic Commerce
•Miscellaneous issues in GST
•GST Compensation Cess
•Transitory Provisions
•Constitutional Background of GST
Also Available
[15th Edition] of Taxmann’s GST Manual with GST Law Guide & Digest of Landmark Rulings
[14th Edition] of Taxmann’s GST Tariff with GST Rate Reckoner
[10th Edition] of Taxmann’s GST How to Meet Your Obligations
[2nd Edition] of Taxmann’s GST Case Laws Digest (A Section-wise Case Book of 1,900+ Judgements)
This document outlines rules related to Value Added Tax (VAT) in Bangladesh. It discusses several key points:
1) It defines important terms related to VAT such as "tax", "registered person", and "divisional officer".
2) It establishes procedures for registered persons/businesses to declare the value of goods and services for tax assessment purposes using specified forms. It also allows for reassessment of declared values.
3) It provides rules for businesses with annual turnover under 20 lakh Taka to pay a flat 4% "turnover tax" by enlisting with tax authorities and filing periodic returns. Higher penalties are outlined for noncompliance.
4) It delegates powers to VAT officers to
The document summarizes the process for migrating existing taxpayers to the Goods and Services Tax (GST) system in India. It involves the following key steps:
1. Taxpayers obtain a GSTN login ID and password from the aces.gov.in website to complete the enrollment process on gst.gov.in.
2. Taxpayers complete the enrollment process on gst.gov.in by providing business and registration details as well as uploading required documents.
3. Upon successful submission, taxpayers receive a provisional GSTIN and final registration within 6 months if all information is verified correctly.
31 May Weekly Newsletter - N Pahilwani & AssociatesNitin Pahilwani
This weekly newsletter contains income tax and GST updates for the week. For income tax, it summarizes changes to ITR forms for AY 2020-21 including new schedules for investments, the launch of instant PAN through Aadhaar-based e-KYC, and notifications regarding annual information statements replacing Form 26AS. For GST, it provides updates on the GST portal including new registration options for insolvency professionals and enabling EVC filing for companies. It also summarizes some judicial rulings related to transfer of goods ownership, tax deduction at source on exempt supplies, and authority of subordinate officers.
- There are common e-returns for CGST, SGST, and IGST under GST.
- Every registered person is required to file monthly returns by the 10th of the following month, even if there are no business activities during the period. This includes filing a 'Nil' return.
- Key forms include GSTR-1 for outward supplies, GSTR-2 for inward supplies, and GSTR-3 as the monthly return. Late fees apply for delayed filing.
What, When, Why & How on E-Way Bill under GSTMinal Mehta
To provide with an overview and understanding about E-Way bill we have prepared a brief presentation capturing "What, When, Why & How on E-WAY Bill" in a simplified manner.
The document discusses the eligibility and conditions for claiming input tax credit under the GST Acts. Some key points:
- Input tax includes IGST, CGST, SGST charged on supplies of goods/services to a registered person. It excludes tax paid under a composition scheme.
- A registered person is eligible for input tax credit for inputs used in furtherance of business, provided the invoice/debit note and tax charged is valid.
- Special rules apply for claiming credit on capital goods and in situations like change in registration status.
- Certain items like motor vehicles and goods for personal use are blocked and credit cannot be claimed.
The document discusses input tax credit (ITC) under the Goods and Services Tax (GST) regime in India. Some key points:
1. ITC aims to ensure tax is levied only on value addition at each stage of supply chain to eliminate cascading of taxes. Only registered taxpayers can claim ITC subject to certain conditions.
2. Eligible inputs/services include those used in business. Capital goods are eligible for ITC over multiple years. ITC must be claimed within prescribed time limits and supported by valid documents.
3. ITC is allowed for taxable and zero-rated supplies but not for exempt, non-taxable or personal consumption. Credit must be apportioned
This document provides an overview of various transitional provisions under GST law. It discusses provisions related to carrying forward of CENVAT/VAT credits, input tax credit for inputs/capital goods held in stock, deemed credit for stocks, job work, and miscellaneous provisions. Key highlights include:
1) Registered persons can carry forward CENVAT credit from previous returns and avail input tax credit for inputs/capital goods in stock as on June 30, 2017.
2) Deemed credit at 60% for goods taxable at 18% or more rate and 40% for goods taxable at sub-18% rate is available for stocks held on July 1, 2017.
3) No tax will
The document compares normal tax payers under Section 9 of the CGST Act to composition levy tax payers under Section 10. Composition levy is an option for small businesses with turnover less than Rs. 1 crore to pay tax at a concessional rate instead of the normal rates. Composite and mixed supplies are classified based on their principal supply, while normal and composition levy taxpayers are distinguished based on aggregate turnover.
This document provides a summary of recent judicial pronouncements and clarifications related to Goods and Services Tax (GST) in India. It discusses several court rulings that have impacted taxpayers, including cases related to registration corrections, determining inter-state supplies, and application deadlines. It also summarizes a circular clarifying the applicability of IGST on goods transferred while in customs bonded warehouses. The editorial emphasizes that litigation is expected to increase as the new GST laws continue to evolve.
The document provides information on electronic way (e-way) bills under the Goods and Services Tax (GST) regime in India. Some key points:
- E-way bills are required to be generated for the movement of goods of over Rs. 50,000 in value.
- Various notifications provide details on the nationwide implementation of the e-way bill system from January 2018.
- CGST Rules specify the procedures for generating e-way bills, including which parties are responsible for Parts A and B, validity periods, transfer procedures and exemptions.
- Non-compliance can attract penalties, and e-way bills help verify movement of goods and prevent tax evasion.
1) The document outlines the Goods and Services Tax return filing process for suppliers and recipients. It discusses the key GST returns like GSTR-1, GSTR-2, GSTR-1A and relevant due dates.
2) Suppliers must file GSTR-1 by the 11th-15th of every month with invoice-wise details of outward supplies. Recipients will receive these details in GSTR-2A by the 10th.
3) Recipients use GSTR-2A to prepare their GSTR-2, adding any missing invoices. They must file GSTR-2 by the 11th-15th of the next month to confirm or modify supply details received from suppliers
GST TRAINING ON VARIOUS CONCEPTS OF GST-2GST Law India
This presentation enumerates about Composition Scheme under GST, registration under GST and composition scheme, invoicing, filing of returns through various forms and payment of tax under GST.
The document contains frequently asked questions and answers regarding banking, insurance, and stock brokers in relation to GST.
Some key points addressed are:
- Banks are not required to provide ATM details in their GST registration as ATMs alone do not constitute a place of business.
- Third party places like ATMs, business correspondents, or warehouses used by banks are not required to be included in their GST registration.
- For services provided up to June 30, 2017, the applicable tax (GST or prior tax) depends on whether the invoice was issued or payment was made before or after July 1, 2017.
- Banks/insurers must report exempt, non-GST and invoice
Newsletter on daily professional updates- 24/03/2020CA PRADEEP GOYAL
“Your mind is a powerful thing.
When you fill it with positive thoughts, your life will start to change.”
Here is your Daily dose of professional updates 24.03.2020, it contains all summary of all 20 GST non-tariff notifications, 2 circulars dated 23/03/200 issued by CBIC. Also contain various updates on Income Tax, Corporate Laws, RBI and others.
The document provides an overview of refunds under the GST regime in India. It discusses 12 situations in which refunds may arise, the relevant legal provisions, definitions of refunds, time limits for claiming refunds, refund procedures, basic features of refunds including adjustment, withholding, interest payment and documents required. Refunds can arise due to excess tax payment, exports, provisional assessments, court/tribunal orders and other scenarios.
This document provides information on export and import procedures in India under the GST regime. It defines key terms related to exports and imports such as export of goods, export of services, import of goods, import of services, and zero-rated supply. It outlines the acts and rules that govern exports and imports. It describes the process for exporting goods from India to overseas locations with or without payment of integrated GST under a bond/letter of undertaking or with payment and claiming a refund. The document provides clarity on eligibility criteria for a letter of undertaking and documents required for a bond/letter of undertaking.
The document provides an overview of export refunds under GST. It discusses key concepts like zero rated supplies, which include exports and supplies to SEZ. It outlines the different types of export refunds available under GST such as export of goods/services upon payment of IGST or under bond/LUT. The document then analyzes section 54 of the CGST Act regarding refund procedures. It discusses refund eligibility for zero rated supplies and supplies with an inverted tax structure. Key points like time limits for refund claims and restrictions are also summarized.
This presentation contains a discussion on the legal provision, notification, press release related to GSTR-9 Annual return of GST.
The presentation also contained walkthrough form GSTR-9 along with various case studies and illustrations.
This document summarizes the key sections, rules, and provisions related to the composition scheme under the CGST Act. It notes that any registered person with an aggregate turnover not exceeding Rs. 75 lakh in the preceding year may opt to pay tax at prescribed rates under section 10. It outlines the conditions to opt for the scheme, the applicable tax rates, filing requirements including returns and payments, and rules regarding intimation and withdrawal from the scheme.
The document provides information about an upcoming 3-day workshop on GST, ROC, and income tax annual returns for students. It will cover recent changes, dos and don'ts, and the student perspective. The workshop will be organized by the Student Committee of the Chamber of Tax Consultants and led by CA Karan Lodaya. It will include sessions on annual return filing and audit requirements, details on filing GSTR-1 and GSTR-3B returns, as well as an analysis of the annual return.
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 provides a summary of recent tax law notifications, circulars, and case rulings across Goods and Services Tax (GST) and customs. It covers topics such as clarifications on interest charges for IGST credits, input tax credit claims, the taxability of EV battery charging and vehicle body building services, and an extension of various GST return filing deadlines. Customs updates include increased duties on LPG and related fuels as well as amendments to notifications implementing the recommendations of GST Council meetings.
Taxmann's GST Manual with GST Law Guide & Digest of Landmark Rulings (Set of ...Taxmann
The document is an excerpt from the Finance Minister's Budget Speech 2021 relating to proposed changes to the GST and excise duty framework in India.
Some key points:
- GST collections have reached record levels due to measures to simplify GST and crack down on tax evaders. Further measures are proposed to smoothen GST.
- Changes are proposed to various sections of the Central GST Act to facilitate taxpayers, improve compliance and enforcement, and make some technical amendments.
- Changes are also proposed to the excise duty rates specified in the Fourth Schedule of the Central Excise Act from April 2021 and January 2022.
- The document provides a weekly update on GST from the National Academy of Customs, Indirect Taxes and Narcotics.
- It summarizes that gross GST revenue collected in January 2022 was Rs. 1,38,394 crore, which was 15% higher than the same period last year. Revenues from import of goods were 26% higher.
- Proposed amendments to the CGST Act through the Finance Bill 2022 are aimed at aligning legal provisions with the GSTR-1/GSTR-3B return filing system and include measures for trade facilitation and compliance.
सुप्रीम कोर्ट ने यह भी माना था कि मजिस्ट्रेट का यह कर्तव्य है कि वह सुनिश्चित करे कि अधिकारी पीएमएलए के तहत निर्धारित प्रक्रिया के साथ-साथ संवैधानिक सुरक्षा उपायों का भी उचित रूप से पालन करें।
Safeguarding Against Financial Crime: AML Compliance Regulations DemystifiedPROF. PAUL ALLIEU KAMARA
To ensure the integrity of financial systems and combat illicit financial activities, understanding AML (Anti-Money Laundering) compliance regulations is crucial for financial institutions and businesses. AML compliance regulations are designed to prevent money laundering and the financing of terrorist activities by imposing specific requirements on financial institutions, including customer due diligence, monitoring, and reporting of suspicious activities (GitHub Docs).
The Future of Criminal Defense Lawyer in India.pdfveteranlegal
https://veteranlegal.in/defense-lawyer-in-india/ | Criminal defense Lawyer in India has always been a vital aspect of the country's legal system. As defenders of justice, criminal Defense Lawyer play a critical role in ensuring that individuals accused of crimes receive a fair trial and that their constitutional rights are protected. As India evolves socially, economically, and technologically, the role and future of criminal Defense Lawyer are also undergoing significant changes. This comprehensive blog explores the current landscape, challenges, technological advancements, and prospects for criminal Defense Lawyer in India.
Receivership and liquidation Accounts
Being a Paper Presented at Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) on Friday, August 18, 2023.
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The immediate step is an intelligent choice; don’t procrastinate. In the aftermath of the crash, taking care of yourself and taking quick steps can help you protect yourself from significant injuries. Make sure that you have collected the essential data and information.
Corporate Governance : Scope and Legal Frameworkdevaki57
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MEANING
Corporate Governance refers to the way in which companies are governed and to what purpose. It identifies who has power and accountability, and who makes decisions. It is, in essence, a toolkit that enables management and the board to deal more effectively with the challenges of running a company.
Integrating Advocacy and Legal Tactics to Tackle Online Consumer Complaintsseoglobal20
Our company bridges the gap between registered users and experienced advocates, offering a user-friendly online platform for seamless interaction. This platform empowers users to voice their grievances, particularly regarding online consumer issues. We streamline support by utilizing our team of expert advocates to provide consultancy services and initiate appropriate legal actions.
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Our intuitive online interface allows individuals to register complaints, seek legal advice, and pursue justice conveniently. Users can submit complaints via mobile devices and send legal notices to companies directly through our portal.
2. Privileged
Sr.No Circular/Notification No Dealing With
1. Notification No. 67/2017 –
Central Tax
Time limit for making a declaration, in
FORM GST ITC-01 eligible to avail
the input tax credit extended till
31st January 2018.
2. Notification No.68/2017 –
Central Tax
Time limit for furnishing the return by
a non-resident taxable person, in
FORM GSTR-5 extended till the 31st
day of January 2018.
3. Notification No. 69/2017 –
Central Tax
time limit for furnishing the return in
FORM GSTR-5A extended till 31st
January 2018
4. Notification No. 70/2017 –
Central Tax
Central Goods and Services Tax
(Thirteenth Amendment) Rules, 2017.
5. Circular No. 22/22/2017-GST Clarification on issues regarding
treatment of supply by an artist in
various States and supply of goods by
artists from galleries
6. Circular No.23/23/2017-GST Issues in respect of maintenance of
books of accounts relating to additional
place of business by a principal or an
auctioneer for the purpose of auction of
tea, coffee, rubber etc.
7. Circular No.24/24/2017-GST Manual filing and processing of refund
claims on account of inverted duty
structure, deemed exports and excess
balance in electronic cash ledger.
8. Circular No. 25/25/2017-GST Manual filing of applications for
Advance Ruling and appeals before
Appellate Authority for Advance
Ruling.
9. Order No. 11/2017-GST period for intimation of details of
stock(FORM GST CMP-03) extended
till 31stJanuary, 2018.
Executive Summary
3. Privileged
nd
Notifications
Notification No. 67/2017 – Central Tax
The Time limit for making a declaration, in FORM GST ITC-01, by the
registered persons, who have become eligible during the months of July, 2017,
August, 2017, September, 2017, October, 2017 and November, 2017 to the effect
that they are eligible to avail the input tax credit under sub-section (1) of section
18 of the said Act, till the 31st day of January, 2018.
Notification No.68/2017 – Central Tax
The Time limit for furnishing the return by a non-resident taxable person, in
FORM GSTR-5, under sub-section (5) of section 39 of the said Act read with rule
63 of the Central Goods and Services Tax Rules, 2017 for the months of July,
2017, August, 2017, September, 2017, October, 2017, November, 2017 and
December, 2017 till the 31st day of January, 2018.
Notification No. 69/2017 – Central Tax
The Time limit for furnishing the return in FORM GSTR-5A for the months of
July, 2017, August, 2017, September, 2017, October, 2017, November, 2017 and
December, 2017 by a person supplying online information and database access or
retrieval services from a place outside India to a non-taxable online recipient
referred to in section 14 of the Integrated Goods and Services Tax Act, 2017 and
rule 64 of the Central Goods and Services Tax Rules, 2017, till the 31st day of
January, 2018.
Notification No. 70/2017 – Central Tax
Central Goods and Services Tax (Thirteenth Amendment) Rules, 2017.
(i) in FORM GSTR-1, for Table – 6, the following shall be substituted,
(ii) in FORM GST RFD-01, -
(a) in Table 7, in clause (h), for the words “Recipient of deemed export”, the
words “Recipient of deemed export supplies/ Supplier of deemed export
supplies” shall be substituted;
(b) after Statement 1, Statement 1A shall be inserted.
(c) after Statement 5A, the Statement 5B shall be inserted, namely: -
(iii) in FORM GST RFD-01A, -
(a) in Table 7, in clause (g), for the words “Recipient of deemed export”, the
words “Recipient of deemed export supplies/
Supplier of deemed export supplies” shall be substituted;
(b) after the DECLARATION [rule 89(2)(f)], the declaration [rule 89(2)(g)] shall
be inserted
(c) after Statement 1, the Statement 1A [rule 89(2)(h)] shall be inserted
d) after Statement 5A, the Statement 5B [rule 89(2)(g)] shall be inserted
CBEC Issues Notifications/Circulars/Order
4. Privileged
Circulars
Circular No. 22/22/2017
There seems to be confusion regarding the treatment of this activity whether it
is taxable in the hands of the artist when the same is given to the art gallery or at
the time of actual supply by the gallery.
Clarified that
A combined reading of the provisions of [clause (c) of sub-rule (1), sub-rule(3),
sub-rule(4) of rule 55 indicates that the art work for supply on approval basis can
be moved from the place of business of the registered person (artist) to another
place within the same State or to a place outside the State on a delivery challan
along with the e-way bill wherever applicable and the invoice may be issued at the
time of actual supply of art work.
The supplies of the art work from one State to another State will be inter-State
supplies and attract integrated tax in terms of section 5 of the Integrated Goods
and Services Tax Act, 2017.
In case of supply by artists through galleries, there is no consideration flowing
from the gallery to the artist when the art works are sent to the gallery for
exhibition and therefore, the same is not a supply. It is only when the buyer
selects a particular art work displayed at the gallery, that the actual supply takes
place and applicable GST would be payable at the time of such supply.
Circular No.23/23/2017-GST
As per the first proviso of section 35(1) of the Central Goods and Services Tax Act,
2017 (hereinafter referred to as ‘the CGST Act’) both the principal and the
auctioneer are required to maintain the books of accounts relating to their
additional place(s) of business in such places. It has been represented that both
the principal as well as the auctioneer may be allowed to maintain the books of
accounts relating to the additional place(s) of business at their principal place of
business itself.
Clarified that
(a) The principal and the auctioneer of tea, coffee, rubber etc. are required to
declare warehouses where such goods are stored as their additional place of
business. The buyer is also required to disclose such warehouse as his
additional place of business if he wants to store the goods purchased through
auction in such warehouses.
CBEC Issues Notifications/Circulars/Order
5. Privileged
(b) Both the principal and the auctioneer are required to maintain the books of
accounts relating to each and every place of business in that place itself as per
the first proviso to sub-section (1) of section 35 of the CGST Act. However, in
case difficulties are faced in maintaining the books of accounts, it is clarified
that they may maintain the books of accounts relating to the additional
place(s) of business at their principal place of business instead of such
additional place(s).
(c) Such principal or auctioneer shall intimate their jurisdictional proper officer
in writing about the maintenance of books of accounts relating to additional
place(s) of business at their principal place of business.
(d) Further, the principal or the auctioneer shall be eligible to avail input tax
credit(ITC) subject to the fulfilment of other provisions of the Act and the
rules made thereunder.
(e) this Circular is applicable to the supply of tea, coffee, rubber, etc. where the
auctioneer claims ITC in respect of the supply made to him by the principal
before the auction of such goods and the said goods are supplied only through
auction.
Circular No.24/24/2017-GST
Due to the non-availability of the refund module on the common portal, it has been
decided by the competent authority, on the recommendations of the Council, that the
applications/documents/forms pertaining to refund claims on account of inverted duty
structure (including supplies in terms of notification Nos. 40/2017-Central Tax
(Rate)and 41/2017-Integrated Tax (Rate) both dated 23.10.2017), deemed exports
and excess balance in electronic cash ledger shall be filed and processed manually
till further orders.
Clarified that
The provisions of Circular No. 17/17/2017-GST dated 15.11.2017 shall also be
applicable to the following types of refund inasmuch as they pertain to the method of
filing of the refund claim and its processing which is consistent with the relevant
provisions of the CGST Act, 2017 (hereafter referred to as ‘the CGST Act’) and the
CGST Rules, 2017 (hereafter referred to as ‘the CGST Rules’): -
(i) refund of unutilized input tax credit where the credit has accumulated on account
of rate of tax on inputs being higher than the rate of tax on output supplies (other
than nil rated or fully exempt supplies) of goods or services or both except those
supplies which are notified by the Government on the recommendations of the
Council (section 54(3) of the CGST Act refers);
(ii) refund of tax on the supply of goods regarded as deemed exports; and
(iii)refund of balance in the electronic cash ledger.
refund claims in respect of zero-rated supplies and on account of inverted duty
structure, deemed exports and excess balance in electronic cash ledger shall be
6. Privileged
filed for a tax period on a monthly basis in FORM GST RFD-01A.However, in
case registered persons having aggregate turnover of up to Rs1.5 crores in the
preceding financial year or the current financial year are opting to file FORM
GSTR-1 quarterly (notification No. 57/2017-Central Tax dated 15.11.2017 refers),
such persons shall apply for refund on a quarterly basis.
Further, it is stated that the refund claim for a tax period may be filed only after
filing the details in FORM GSTR-1 for the said tax period. It is also to be ensured
that a valid return in FORM GSTR-3B has been filed for the last tax period before
the one in which the refund application is being filed. Since the date of furnishing
of FORM GSTR 1
from July, 2017 onwards has been extended while the dates of furnishing of
FORM GSTR 2 and FORM GSTR 3 for such period are yet to be notified, it has
been decided by the competent authority to sanction refund of provisionally
accepted input tax credit at this juncture. However, the registered persons
applying for refund must give an undertaking to the effect that the amount of
refund sanctioned would be paid back to the Government with interest in case it
is found subsequently that the requirements of clause (c) of sub-section (2) of
section 16 read with sub-section (2) of sections 42 of the CGST Act have not been
complied with in respect of the amount refunded. This undertaking should be
submitted manually along with the refund claim till the same is available in
FORM RFD-01A on the common portal.
In case of refund claim arising due to inverted duty structure, the following
statements- Statement -1 [rule 89(5)] and Statement 1A [rule 89(2)(h)] of FORM
GST RFD-01A have to be filled
Whereas, the Government has issued notification No. 48/2017-Central Tax dated
18.10.2017 under section 147 of the CGST Act wherein certain supplies of goods
have been notified as deemed export. Further, the third proviso to rule 89(1) of
the CGST Rules allows the recipient or the supplier to apply for refund of tax paid
on such deemed export supplies. In case such refund is sought by the supplier of
deemed export supplies, the documentary evidences as specified in notification
No. 49/2017-Central Tax dated 18.10.2017 are also required to be furnished
which includes an undertaking by the recipient of deemed export supplies that he
shall not claim the refund in respect of such supplies and that no input tax credit
on such supplies has been availed of by him. The undertaking should be
submitted manually along with the refund claim. Similarly, in case the refund is
filed by the recipient of deemed export supplies, an undertaking by the supplier
of deemed export supplies that he shall not claim the refund in respect of such
supplies is also required to be furnished manually. The procedure regarding
procurement of supplies of goods from DTA by Export Oriented Unit (EOU) /
Electronic Hardware Technology Park (EHTP) Unit / Software Technology Park
(STP) Unit / Bio-Technology Parks (BTP) Unit under deemed export as laid down
in Circular No. 14/14/2017-GST dated 06.11.2017 needs to be complied with.
Further, as per the provisions of rule 89(2)(g) of the CGST Rules, the following
statement 5B of FORM GST RFD-01A is required to be furnished for claiming
refund on supplies declared as deemed exports
It is reiterated that para 2.5 of Circular No. 17/17/2017-GST dated 15.11.2017 may
be referred to in order to ascertain the jurisdictional proper officer to whom the
manual application for refund is to be submitted. Where any amount claimed as
refund is rejected under rule 92 of the CGST Rules, either fully or partly, the
7. Privileged
amount debited, to the extent of rejection, shall be re-credited to the electronic
credit ledger by an order made in FORM GST RFD-1B until the FORM GST PMT-
03 is available on the common portal. Further, the payment of the sanctioned
refund amount shall be made only by the respective tax authority of the Central
or State Government. Thus, the refund order issued either by the Central tax
authority or the State tax/UT tax authority shall be communicated to the
concerned counterpart tax authority within seven working days for the purpose of
payment of the relevant sanctioned refund amount of tax or cess, as the case may
be. This time limit of seven working days is also applicable to refund claims in
respect of zero-rated supplies being processed as per Circular No. 17/17/2017-
GST dated 15.11.2017 as against the time limit of three days prescribed in para 4
of the said Circular. It must be ensured that the timelines specified under section
54(7) and rule 91(2) of the CGST Rules for the sanction of refund are adhered to.
In order to facilitate sanction of refund amount of central tax and State tax by the
respective tax authorities, it has been decided that both the Central and State Tax
authority shall nominate nodal officer(s) for the purpose of liasioning through a
dedicated e-mail id. Where the amount of central tax and State tax refund is
ordered to be sanctioned provisionally by the Central tax authority and a sanction
order is passed in accordance with the provisions of rule 91(2) of the CGST Rules,
the Central tax authority shall communicate the same, through the nodal officer,
to the State tax authority for making payment of the sanctioned refund amount in
relation to State tax and vice versa. The aforesaid communication shall primarily
be made through e-mail attaching the scanned copies of the sanction order
[FORM GST RFD-04 and FORM GST RFD-06], the application for refund in
FORM GST RFD-01A and the Acknowledgement Receipt Number (ARN).
Accordingly, the jurisdictional proper officer of Central or State Tax, as the case
may be, shall issue FORM GST RFD-05 and send it to the DDO for onward
transmission for release of payment. After release of payment by the respective
PAO to the applicant’s bank account, the nodal officer of Central tax and State tax
authority shall inform each other. The manner of communication as referred
earlier shall be followed at the time of final sanctioning of the refund also.
In case of refund claim for the balance amount in the electronic cash ledger, upon
filing of FORM GST RFD-01A as per the procedure laid down in para 2.4 of
Circular No.17/17/2017-GST dated 15.11.2017, the amount of refund claimed shall
get debited in the electronic cash ledger.
It is also clarified that the drawback of all taxes under GST (Central Tax,
Integrated Tax, State/Union Territory Tax) should not have been availed while
claiming refund of accumulated ITC under section 54(3)(ii) of the CGST Act. A
declaration to this effect forms part of FORM GST RFD-01A as well.
Circular No. 25/25/2017-GST
For the purpose of ensuring uniformity in the processing of such manual
applications till the advance ruling module is made available on the common
portal, the following conditions and procedure are prescribed for the manual
filing and processing of the applications.
8. Privileged
Form and Manner of Application
(a) An application for obtaining an advance ruling under sub-section (1) of section 97
of the CGST Act and the rules made thereunder, shall be made in quadruplicate,
in FORM GST ARA-01. The application shall clearly state the question on which
the advance ruling is sought. The application shall be accompanied by a fee of five
thousand rupees which is to be deposited online by the applicant, in the manner
specified under section 49 of the CGST Act. It is reiterated that though the
application shall be filed manually till the advance ruling module is made
available on the common portal, the fee is required to be deposited online in
terms of section 49 of the CGST Act.
(b) An application for obtaining an advance ruling under sub-section (1) of section 97
of the CGST Act and the rules made thereunder, shall be made in quadruplicate,
in FORM GST ARA-01. The application shall clearly state the question on which
the advance ruling is sought. The application shall be accompanied by a fee of five
thousand rupees which is to be deposited online by the applicant, in the manner
specified under section 49 of the CGST Act. It is reiterated that though the
application shall be filed manually till the advance ruling module is made
available on the common portal, the fee is required to be deposited online in
terms of section 49 of the CGST Act.
(c) The application, the verification contained therein and all the relevant documents
accompanying such application shall be signed by
Sr.No Entity Person
1 Individual individual himself or where he is absent from
India, by some other person duly authorized
2 HUF Karta and where the Karta is absent
from India
3 Company Chief Executive Officer or the authorized
signatory
4 Government or any
Governmental agency
or local authority
officer authorized
5 Firm Any partner thereof, not being a minor or the
authorized signatory
6 Any other association Any member of the association or persons or
the authorized signatory
7 Trust the trustee or any trustee or the authorized
signatory thereof
8 any other person some person competent to act on his behalf,
or by a person authorized u/s48 of CGST Act.
(d) An appeal against the advance ruling issued under sub-section (6) of section 98
of the CGST Act and the rules made thereunder shall be made by an applicant in
quadruplicate, in FORM GST ARA-02 and shall be accompanied by a fee of ten
thousand rupees to be deposited online, in the manner specified in section 49 of
the CGST Act. It is reiterated that though the application shall be filed manually
9. Privileged
till the advance ruling module is made available on the common portal, the fee is
required to be deposited online in terms of section 49 of the CGST Act. The
payment of fee shall be made.
(e) An appeal made by the concerned officer or the jurisdictional officer referred to
in section 100 of the CGST Act and the rules made thereunder shall be filed in
quadruplicate, in FORM GST ARA-03 and no fee shall be payable by the said
officer for filing the appeal. As per section 100 (2) of the CGST Act, the appeal
shall be filed within a period of thirty days from the date on which the ruling
sought to be appealed against is communicated to the applicant or the concerned
officer or the jurisdictional officer, as the case maybe.
(f) The appeal, the verification contained therein and all the relevant documents
accompanying such appeal shall be signed-
in the case of the concerned officer or jurisdictional officer, by an officer
authorized in writing by such officer; and
in the case of an applicant, in the manner specified in Para 5 above.
(g) The application for advance ruling or the appeal before the Appellate Authority
shall be filed in the jurisdictional office of the respective State Authority for
Advance Ruling or the State Appellate Authority for Advance Ruling respectively.
(h) If the space provided for answering any item in the Forms is found to be
insufficient, separate sheets may be used. Further, the application, the
verification appended thereto, the Annexures to the application and the
statements and documents accompanying the Annexures must be self-attested.
Order
Order No. 11/2017-GST
The period for intimation of details of stock held on the date preceding the date
from which the option to pay tax under section 10 of the Act is exercised in
FORM GST CMP-03 is extended till 31stJanuary, 2018.
10. Privileged
Disclaimer:
The contents of this document are solely for informational purpose. It does not constitute professional advice.
Neither company nor its affiliates accepts any liabilities for any loss or damage of any kind arising out of any
information in this document nor for any actions taken in reliance thereon. Professional advice is must for the
applicability on the entity business.