Central Goods and Services Tax Act, 2017

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Key Concepts

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GST is a destination based Tax system. 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.“Goods” means every kind of movable property other than money and securities but includes actionable claim, growing crops, grass and things attached to or forming part of the land which are agreed to be severed before supply or under a contract of supply.“Services” means anything other than goods, money and securities but includes activities relating to the use of money or its conversion by cash or by any other mode, from one form, currency or denomination, to another form, currency or
denomination for which a separate consideration is charged.

The liability to pay tax on goods shall arise at the time of supply, as determined in  accordance with the provisions of this section. The liability to pay tax on services shall arise at the time of supply.

Every supplier shall be liable to be registered under this Act in the State or Union territory, other than special category States, from where he makes a taxable supply of goods or services or both, if his aggregate turnover in a financial year exceeds twenty lakh rupees:
Provided that where such person makes taxable supplies of goods or services or both from any of the special category States, he shall be liable to be registered if his aggregate turnover in a financial year exceeds ten lakh rupees.

The following persons shall not be liable to registration, namely:––

(a) any person engaged exclusively in the business of supplying goods or services or both that are not liable to tax or wholly exempt from tax under this Act or under the Integrated Goods and Services Tax Act;
(b) an agriculturist, to the extent of supply of produce out of cultivation of land.

A registered person supplying taxable goods shall, before or at the time of,—
(a) removal of goods for supply to the recipient, where the supply involves movement of goods; or
(b) delivery of goods or making available thereof to the recipient, in any other case,
issue a tax invoice showing the description, quantity and value of goods, the tax charged thereon and such other particulars as may be prescribed.

Tax Return : Every registered person, other than an Input Service Distributor, a nonresident taxable person and a person paying tax under the provisions of section 10 or section 51 or section 52, shall furnish, electronically, in such form and manner as may be prescribed, the details of outward supplies of goods or services or both effected during a tax period on or before the tenth day of the month succeeding the said tax period and such details shall be communicated to the recipient of the said supplies within such time and in such manner as may be prescribed.

Tax Payment : Every deposit made towards tax, interest, penalty, fee or any other amount by a person by internet banking or by using credit or debit cards or National Electronic Fund Transfer[NEFT] or Real Time Gross Settlement or by such other mode and subject to such conditions and restrictions as may be prescribed, shall be credited to the electronic cash ledger of such person to be maintained in such manner as may be prescribed

Tax Refund: Any person claiming refund of any tax and interest, if any, paid on such tax or any other amount paid by him, may make an application before the expiry of two  years from the relevant date in such form and manner as may be prescribed.

Tax Assessment: Every registered person shall self-assess the taxes payable under this Act and furnish a return for each tax period as specified under section 39.

Tax Audit:  The Commissioner or any officer authorised by him, by way of a general or a specific order, may undertake audit of any registered person for such period, at such frequency and in such manner as may be prescribed.

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Tax rate under GST [Go PDF BOOK]

GST Rate = CGST Rate + SGST Rate.

The rates have been classified in seven groups as below

SCHEDULE I: LIST OF GOODS AT NIL RATE………………………..1
SCHEDULE II: LIST OF GOODS AT 0.25% RATE…………………14
SCHEDULE III: LIST OF GOODS AT 3% RATE…………………….15
SCHEDULE IV: LIST OF GOODS AT 5% RATE…………………….17
SCHEDULE V: LIST OF GOODS AT 12% RATE……………………52
SCHEDULE VI: LIST OF GOODS AT 18% RATE…………………..80
SCHEDULE VII: LIST OF GOODS AT 28% RATE………………..137

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Constitution (One Hundred and First Amendment) Act, 2016

Central Goods and Services Tax Act, 2017

Central Goods and Services Tax (CGST) Rules, 2017

Integrated Goods and Services Tax Act, 2017.

Union Territory Goods and Services Tax Act, 2017

Goods and Services Tax (Compensation to States) Act, 2017.

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GST RULES & FORMATES APPROVED BY GST COUNCIL
Composition Rules and Formats Return- Rules and GSTP Formats, Mismatch Formats, Return Formats
Valuation Rules Transition Rules – Rules and Formats
ITC Rules and Formats Registration rules and formats
Invoice, Debit & Credit Notes – Rules Accounts and Record Rules- Rules and Formats
Payment Rules and Formats Refund rules and formats

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State  GST Acts

Andhra Pradesh GST Act, 2017

Assam GST Bill, 2017

Bihar GST Bill, 2017

Chhattisgarh GST Bill, 2017

Delhi GST Act, 2017

Goa GST Bill, 2017

Gujarat GST Bill, 2017

Haryana GST Bill, 2017

Himachal Pradesh GST Act, 2017

Jammu and Kashmir GST Act, 2017

Jharkhand GST Act, 2017

Karnataka GST Act, 2017

Kerala GST Ordinance, 2017

Maharashtra GST Bill, 2017

Madhya Pradesh GST Bill, 2017

Manipur GST Act, 2017

Meghalaya GST Act, 2017

Mizoram GST Act, 2017

Nagaland GST Act, 2017

Odisha GST Bill, 2017

Puducherry GST Bill, 2017

Punjab GST Bill, 2017

Rajasthan GST Act, 2017

Sikkim GST Bill, 2017

Tamil Nadu GST Act, 2017

Telangana GST Bill, 2017

Tripura GST Act, 2017

Uttarakhand GST Bill, 2017

Uttar Pradesh GST Bill, 2017

West Bengal GST Ordinance,2017

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Goods and Services Tax Network (GSTN)

GSTN is a special purpose vehicle (SPV) formed by Ministry of Finance to provide common IT infrastructure, systems and services to the Central and State Governments, tax payers and other stakeholders for supporting implementation and administration of the GST in India.It was incorporated on March 28, 2013. The Government of India holds 24.5% equity in GSTN and all States of the Indian Union, including NCT of Delhi and Puducherry, and the Empowered Committee of State Finance Ministers (EC), together hold another 24.5%. Balance 51% equity is with non-Government financial institutions.

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Goods and Services Tax website[Portal]

For registration and tax payment

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Regulator of GST

Goods and Services Tax Council

The Goods and Services Tax Council shall consist of the following members,
namely:—
(a) the Union Finance Minister…………………… Chairperson;
(b) the Union Minister of State in charge of Revenue or
Finance…………….. Member;
(c) the Minister in charge of Finance or Taxation or any other Minister
nominated by each State Government………………..Members.


The Goods and Services Tax Council shall make recommendations to the Union and the States on—
(a) the taxes, cesses and surcharges levied by the Union, the States and the local bodies which may be subsumed in the goods and services tax;
(b) the goods and services that may be subjected to, or exempted from the goods and services tax;
(c) model Goods and Services Tax Laws, principles of levy, apportionment of Goods and Services Tax levied on supplies in the course of inter-State trade or commerce under article 269A and the principles that govern the place of supply;
(d) the threshold limit of turnover below which goods and services may be exempted from goods and services tax;
(e) the rates including floor rates with bands of goods and services tax;
(f) any special rate or rates for a specified period, to raise additional resources during any natural calamity or disaster;
(g) special provision with respect to the States of Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttarakhand; and
(h) any other matter relating to the goods and services tax, as the Council may decide

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National Goods and Services Tax Appellate Tribunal

  1. The Appellate Tribunal shall have one branch for each State, which shall be called as the State GST Tribunal.

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GST offences under Central Goods and Services Tax Act, 2017  u/s122

OFFENCES AND PENALTIES

122. (1) Where a taxable person who––
(i) supplies any goods or services or both without issue of any invoice or issues an incorrect or false invoice with regard to any such supply;
(ii) issues any invoice or bill without supply of goods or services or both in violation of the provisions of this Act or the rules made thereunder;
(iii) collects any amount as tax but fails to pay the same to the Government
beyond a period of three months from the date on which such payment becomes due;
(iv) collects any tax in contravention of the provisions of this Act but fails to pay the same to the Government beyond a period of three months from the date on which such payment becomes due;
(v) fails to deduct the tax in accordance with the provisions of sub-section (1) of section 51, or deducts an amount which is less than the amount required to be deducted under the said sub-section, or where he fails to pay to the Government under sub-section (2) thereof, the amount deducted as tax;
(vi) fails to collect tax in accordance with the provisions of sub-section (1) of section 52, or collects an amount which is less than the amount required to be collected under the said sub-section or where he fails to pay to the Government the amount collected as tax under sub-section (3) of section 52;
(vii) takes or utilises input tax credit without actual receipt of goods or services or both either fully or partially, in contravention of the provisions of this Act or the rules made thereunder;
(viii) fraudulently obtains refund of tax under this Act;
(ix) takes or distributes input tax credit in contravention of section 20, or the rules made thereunder;
(x) falsifies or substitutes financial records or produces fake accounts or documents or furnishes any false information or return with an intention to evade payment of tax due under this Act;
(xi) is liable to be registered under this Act but fails to obtain registration;
(xii) furnishes any false information with regard to registration particulars, either at the time of applying for registration, or subsequently;
(xiii) obstructs or prevents any officer in discharge of his duties under this Act;
(xiv) transports any taxable goods without the cover of documents as may be specified in this behalf;
(xv) suppresses his turnover leading to evasion of tax under this Act;
(xvi) fails to keep, maintain or retain books of account and other documents in accordance with the provisions of this Act or the rules made thereunder;
(xvii) fails to furnish information or documents called for by an officer in accordance with the provisions of this Act or the rules made thereunder or furnishes
false information or documents during any proceedings under this Act;
(xviii) supplies, transports or stores any goods which he has reasons to believe are liable to confiscation under this Act;
(xix) issues any invoice or document by using the registration number of another registered person;
(xx) tampers with, or destroys any material evidence or document;
(xxi) disposes off or tampers with any goods that have been detained, seized, or attached under this Act,

he shall be liable to pay a penalty of ten thousand rupees or an amount equivalent to the tax evaded or the tax not deducted under section 51 or short deducted or deducted but not paid to the Government or tax not collected under section 52 or short collected or collected but not paid to the Government or input tax credit availed of or passed on or distributed irregularly, or the refund claimed fraudulently, whichever is higher.

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