GST-FINAL sat.pptx

SDP &Associates
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•WHAT IS GST ???
•TAXES SUBSUMED IN GST
•INTRA AND INTER STATE TAXES
•CONCEPT OF SUPPLY
DEFINITION OF SUPPLY
COMPOSITE & MIXED SUPPLY
SCHEDULE I
SCHEDULE II
SCHEDULE III
Types of supply
•GST REGISTRATION
THRESHOLD LIMIT FOR
REGISTRATION
MEANING OF AGGREGATE
TURNOVER
COMPULSORY REGISTRATION
PERSONS NOT LIABLE FOR
REGISTRATION
TIME PERIOD TO APPLY FOR
REGISTRATION
Place of supply
Reverse charge mechanism

 Article 336(12A) -> “
Goods and Services Tax “
means any tax on
SUPPLY of goods ,or
services or both except
taxes on the supply of
the alcoholic liquor for
human consumption.
 It is leviable at each
point of sale or provision
of service.
 A GST classically entails
unification of all levies on
goods and services.
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TAXABLE EVENT
OLD
INDIRECT
TAXATION
GST

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Overview of GST
Features of GST.
1. One Nation & One Tax & One Market
2. Events are based on Concept of Supply.
3. Streamlining & Cross Utilization of Input
Tax Credits.
4. Revolutionary Invoice Matching Concept.
GST Governing Body with power to
take decision on rates, exemption,
threshold exemptions, etc with
33.33% voting power of Union
Government & 66.66% power lies
with the State Government.
GST Council
Goods &
Service Tax
(GST)
Service
Tax
Excise
Duty
VAT
Luxury
Tax
Entertai
nment
Tax
CST
Octroi
Duty

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Section 7 Meaning & Scope of Supply
Section 8 Taxability of Composite & Mixed
supplies
Schedule I Activities to be treated as supply
even if made without consideration
Schedule II Activities or Transactions to be
treated as supply of goods or as
supply of services
Schedule III Activities or transactions which
shall be treated neither as supply of
goods nor a supply of services.

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Meaning of Supply {Sec. 7(1)}
For the purposes of this Act, the expression “supply” includes-
(a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange,
license, rental, lease or disposal made or agreed to be made for a consideration by a person in the
course or furtherance of business;
(aa) the activities or transactions, by a person, other than an individual, to its members or
constituents or vice-versa, for cash, deferred payment or other valuable consideration.
b) import of services for a consideration whether or not in the course or furtherance of business;
and
(c) the activities specified in Schedule I, made or agreed to be made without a consideration;
(1A) where certain activities or transactions constitute a supply in accordance with the
provisions of sub-section (1), they shall be treated either as supply of goods or supply of
services as referred to in Schedule II.

 Permanent transfer/disposal of business assets - where input
tax credit has been availed on such assets.
 Supply between related persons or distinct persons when made
in the course or furtherance of business.
Provided that gifts not exceeding fifty thousand rupees in value in a
financial year by an employer to an employee shall not be treated as supply
of goods or services or both.
 Principal – Agent: agent undertakes to supply such goods on
behalf of the principal or vice-versa.
 Import of services by a person from a related person in the
course or furtherance of business.
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Services covered under NEGATIVE LIST are as follows:-
 Services by an employee to the employer in the course of or in relation to his
employment.
 Services by any Court or Tribunal established under any law for the time being
in force.
 Services of funeral, burial, crematorium or mortuary including transportation
of the deceased.
 Sale of land and subject to clause (b) of paragraph 5 of Schedule II , sale of
building.
 Actionable claims other than lottery, betting and gambling.
 Supply of warehoused goods to any person before clearance for home
consumption.
 Supply from place in NTT to NTT without such goods entering into India.
 Supply of goods by the consignee to any other person, by endorsement of
documents of title to the goods, after the goods have been dispatched from the
port of origin located outside India but before clearance for home
consumption.(High Sea sale)
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 A composite supply
comprising of two or more
supplies, one of which is a
principal supply, shall be
treated as a supply of such
principal supply.
 A mixed supply comprising
two or more supplies shall be
treated as a supply of that
particular supply which
attracts the highest rate of
tax.
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 Levies on Petroleum
products:-
 Petroleum
High speed diesel
Natural Gas
Aviation Turbine
Fuel
 Levies on Alcoholic
liquor for human
consumption
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Claim refund of
unutilised ITC.
Pay IGST and
then claim
refund
Avail ITC on
input goods
and services.
Do not charge
IGST at the
time of supply.

Where Rate of GST is 0% for any
goods or services it is called Nil
Rated.
In case of Nil rated supplies, Input
tax credit shall not be allowed.
Examples: Salt, jaggery, grains ,
etc.
Nil Rated
Supply in course of export or supply
from DTA to SEZ Unit Developer are
always regarded Zero rated
irrespective of the rate of GST
Input tax credit shall be allowed.
Nil rated Zero Rated
Supply in course of export or supply
from DTA to SEZ Unit Developer are
always regarded Zero rated irrespective
of the rate of GST
Input tax credit shall be allowed.

Where Rate of GST is 0%
for any goods or services
it is called Nil Rated.
In case of Nil rated
supplies, Input tax credit
shall not be allowed.
Nil Rated Zero Rated
Supply in course of export or
supply from DTA to SEZ Unit
Developer are always
regarded Zero rated
irrespective of the rate of GST
Input tax credit shall be
allowed.

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Section 9-Charging Section
(1)Subject to the provisions of sub-section (2), there shall be levied a tax called the central
goods and services tax on all intra-State supplies of goods or services or both, except on the
supply of alcoholic liquor for human consumption, on the value determined under section 15
and at such rates, not exceeding twenty 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.
(2) The central tax on the supply of petroleum crude, high speed diesel, motor spirit (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.
(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.

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(4) The Government may, on the recommendations of the Council, by notification, specify a
class of registered persons who shall, in respect of supply of specified categories of goods or
services or both received from an unregistered supplier, pay the tax on reverse charge basis as
the recipient of such supply of 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 such supply
of goods or services or both.
(5) The Government may, on the recommendations of the Council, by notification, specify
categories of services the tax on intra-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.
Section 9-Charging Section

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Exceeds INR 20 LAKHS Exceeds INR 10LAKHS
AGGREGATETURNOVER
1) Arunachal Pradesh
2) Uttarakhand
3) Meghalaya
4) Sikkim
5) Jammu & Kashmir
6) Assam
7) Himachal Pradesh
1) Manipur
2) Mizoram
3) Nagaland
4) Tripura

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AGGREGATETURNOVER
Rest of the
states/UT
(21)
Services
Rs. 20 Lacs
1) Tobacco
2) Ice cream
3) Pan Masala
Rs. 20 Lacs
Goods and
Services
both
Rs. 20 Lacs
Exclusively
Goods
Rs. 40 Lacs

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PARTICULARS AMOUNT
All taxable supplies (excluding the value of inward supplies on
which tax is payable by a person under RCM)
XXX
Exempt Supplies ( Nil rated/ 100% E/N/ Non Taxable supply) XXX
Export of goods/services XXX
Inter-state supplies XXX
( of persons having the same PAN, to be computed on all India basis.)
Excludes:
CGST,SGST,IGST,UTGST and Cess XXX
Net Total (Aggregate Turnover ) XXX

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Threshold for Reg. in different Cases
Threshold for Reg. in different Cases

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Compulsory registration is required in the following
cases [Sec 24]:-
•Inter-State taxable supplies except :
Inter –state taxable supplies of services &
having aggregate turnover to be computed on all
India basis, exceeding an amount of Rs. 20
lakhs(for special category state – Rs 10 lakhs) in a
financial year .
• Every E-Commerce Operator who is required to
collect tax at source under sec 52
• Person who are required to pay tax under
reverse charge

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•Non resident taxable persons making
taxable supply:
A person who occasionally undertakes
transactions but has no fixed place of business
in India.
• Casual taxable person making taxable
supply :
He is a person who occasionally
undertakes transactions in a State/UT where he
has no fixed place of business.
Person registered in Haryana
Participating in Trade fair in Delhi
Casual taxable person registration in Delhi

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Persons who are required to deduct tax u/s 51 (TDS
Deductor) whether or not separately registered under
GSTAct
Persons who make taxable supply of goods or services or
both on behalf of other taxable persons whether as an
agent or otherwise.
Input Service Distributor, whether or not separately
registered under thisAct
Person supplying online information and database access or
retrieval (OIDAR) services from place outside India to a person
in India, other than registered person

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Persons not
liable for
registration
in GST
Persons exclusively engaged in the
business of supplying goods /
services that are not liable to tax.
Persons exclusively engaged in the
business of supplying goods /
services that are wholly exempt
from tax.
Agriculturist , to the extent of supply
of produce out of cultivation of land.

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Persons other than:
Casual Taxable Person
Non-Resident Taxable
Person
Within 30 days on
which he becomes
liable to register.
Casual Taxable Person
Non-Resident Taxable
Person
At least 5 days prior to
commencement of business.

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WHY ????
To determine whether Inter
State or Intra State
- If Intra State
•CGST
•SGST
-If Inter State
•IGST

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Persons who are required to pay tax under reverse
charge
Specified Categories
of goods / services
as notified by
government- Sec9(3)
Supply of taxable
goods/services by an
unregistered person to
a registered person. –
Sec 9(4)
Sec 9(4) not
applicable from
13th October 2017
by N/N : 38/2017
Central Tax (Rate)
Specified
Categories of goods
/ services as
notified by
government from
1st February 2019
RCM Services as
notified by N/N
13/2017-Central
Tax (Rate)

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SL.N
O
SERVICE PROVIDER SERVICE RECEIVER
1 Goods Transport Agency (GTA) who has
not paid integrated tax at the rate of
12%.
Casual taxable person, body
corporate, partnership firm,
any society, any factory ,
cooperative society , any
person registered under
CGST,SGST,UTGST Act.
2 A director of a company or a body
corporate
A company or a body
corporate
3 An individual advocate(including senior
advocate) or a firm of advocates
Any business entity
4 Security personnel services provided by
other then a body corporate
Registered Person
5 Services of renting of motor vehicle
provided to a body corporate by any
person other than body corporate and
Any body corporate located in
the taxable territory

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SL NO SERVICE PROVIDER SERVICE RECEIVER
6 Any person providing sponsorship services
to any body corporate or partnership firm
Any body corporate or
partnership firm located in
taxable territory.
7 Services of TDR and long term lease of
land (30 yrs or more) for construction of a
project
Promoter
8 Any person who is located in a non taxable
territory to any person other than non-
taxable online recipient.
Any person located in
taxable territory other than
non assessee online
recipient (Business
Recipient)

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Due date Purpose Period Description
10th January GSTR-7
(Monthly)
December'22 Summary ofTax Deducted at Source (TDS) and deposited
under GST laws
GSTR-8
(Monthly)
December'22 Summary ofTax Collected at Source (TCS) and deposited by e-
commerce operators under GST laws
11th January GSTR-1
(Monthly)
December'22 Summary of outward supplies where turnover exceeds Rs.5
crore or have not chosen the QRMP scheme for the quarter of
Oct-Dec'22
13th January GSTR-1
(Quarterly)
Oct-Dec'22 Summary of outward supplies by taxpayers who have opted for
the QRMP scheme**
GSTR-5
(Monthly)
December'22 Summary of outward taxable supplies and tax payable by a
non-resident taxable person
GSTR-6
(Monthly)
December'22 Details of ITC received and distributed by an ISD
18th January CMP-08
(Quarterly)
Oct-Dec'22 Quarterly challan-cum-statement to be furnished by
composition taxpayers

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Due date Purpose Period Description
20th January GSTR-5A
(Monthly)
December'22 Summary of outward taxable supplies and tax payable by a person
supplying OIDAR services
GSTR-3B
(Monthly)
December'22 Summary of outward supplies, ITC claimed, and net tax payable for
taxpayers with turnover more than Rs.5 crore in the last FY or have
not chosen the QRMP scheme for the quarter of Oct-Dec'22
22nd January GSTR-3B
(Quarterly)
Oct-Dec'22 Summary of outward supplies, ITC claimed, and net tax payable by
taxpayers who have opted for the QRMP scheme and registered in
category X states or UTs#
24th January GSTR-3B
(Quarterly)
Oct-Dec'22 Summary of outward supplies, ITC claimed, and net tax payable by
taxpayers who have opted for the QRMP scheme and registered in
category Y states or UTs##
#Category X: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu,
Telangana, Andhra Pradesh, the Union Territories of Daman and Diu and Dadra and Nagar Haveli,
Puducherry, Andaman and Nicobar Islands and Lakshadweep.
##Category Y: Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim,
Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand,
Odisha, the Union Territories of Jammu and Kashmir, Ladakh, Chandigarh and New Delhi.

It means a :
 supply of goods/service which is
provided or will be provided
 continuously or on recurrent basis,
 under a contract.
 It may be through means of a wire,
cable, pipeline or other conduit.
 The supplier sends invoice to the
recipient on a periodic basis.
 A continuous supply is only
considered complete when the
contract comes to an end, or one party
involved in the contract decides to
end it.
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 There are successive
statements of
accounts/successive
payments and the invoices
are issued before or at the
time of issue of each
statement or at the time
each payment is received.
For example, the brick
supplier issues an invoice
along with each batch of
bricks he sends.
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 When the due date of payment can be identified from the
contract
The invoice will be issued before or after the payment is to be made
by the recipient but within specified time**. Invoice will be issued,
whether or not any payment has been received by the supplier.
 When the due date of payment is cannot be identified from the
contract
The invoice shall be issued before or after each time when the
supplier of service receives the payment but within specified time**.
 When the payment is linked to the completion of an event
The invoice shall be issued before or after the time of completion of
that event but within specified time**.
 When the supply of services ceases under a contract before the
completion of the supply
The invoice shall be issued at the time when the supply ceases and
such invoice shall be issued to the extent of the service provided
before stopping.
Specified Time**
The invoice must be issued within 30 days from the date when each
event, specified in the contract and requiring the recipient to make
any payment, is completed.
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(a) he is in possession of a tax invoice or debit note issued by a supplier registered under this
Act, or such other tax paying documents as may be prescribed;
aa) the details of the invoice or debit note referred to in clause (a) has been furnished by the
supplier in the statement of outward supplies and such details have been communicated to
the recipient of such invoice or debit note in the manner specified under section 37;
(b)he has received the goods or services or both.
(ba) the details of input tax credit in respect of the said supply communicated to such
registered person under section 38 has not been restricted;
(c)the tax charged in respect of such supply has been actually paid to the Government, either
in cash or through utilisation of input tax credit admissible in respect of the said supply;
(d) he has furnished the return under section 39:

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Provided that where the goods against an invoice are received in lots or instalments,
the registered person shall be entitled to take credit upon receipt of the last lot or
instalment:

GST-FINAL sat.pptx

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