contents · 2020. 8. 7. · 14.29 migration of persons to gst 174 14.30 cancellation of provisional...
TRANSCRIPT
CoNteNtS
PAGE
About the Author I-5
Preface I-7
Acknowledgement I-9
Key to reading I-11
Chapter-heads I-13
1GST - A PrACTICAL BuSInESS TAx
1.1 Goods and Services Tax (GST) 1
1.2 India with GST 1
1.3 Constitutional Amendments 2
1.4 Constitution of Goods and Services Tax Council 5
1.5 GST in India 6
2dEFInITIonS And ExPLAnATIonS
2.1 Agent 9
2.2 Aggregate Turnover 10
2.3 Appointed Day 10
2.4 Associated Enterprise 10
2.5 Business 12
2.6 Business Vertical 13
2.7 Central Goods and Services Tax Act 14
I-17
PAGE
2.8 Central Tax 14
2.9 Consideration 14
2.10 Custom Frontiers of India 15
2.11 Exempt Supply 15
2.12 Existing Law 16
2.13 Export of Goods 16
2.14 Export of Services 17
2.15 Fixed Establishment 18
2.16 Goods 19
2.17 Government 21
2.18 Import of Goods and Services 22
2.19 Integrated Tax 23
2.20 Intermediary 23
2.21 Location of Recipient of Services 23
2.22 Location of Supplier of Services 24
2.23 Non-Taxable online Recipient 24
2.24 OIDAR-online Information and Database Access or Retrieval Services
25
2.25 Open Market Value 25
2.26 Output Tax 26
2.27 Person 26
2.28 Recipient 27
2.29 Services 28
2.30 Special Economic Zone (SEZ) 28
2.31 Special Economic Zone Developer 29
2.32 Supplier 29
2.33 Supply 30
2.34 Taxable Territory 30
2.35 Territorial Waters 31
2.36 Works Contract 31
2.37 Zero Rated Supply 32
CONTENTS I-18
PAGE
3CoMPoSITIon SChEME
3.1 Composition levy 33
3.2 Eligible and Excluded Persons for Composition Levy 34
3.3 Registration 35
3.4 Extension in Time Limit for intimation under Composition Levy
36
3.5 Effective Date for Composition Levy 36
3.6 Input Tax Credit 37
3.7 Reverse Charge 37
3.8 Returns 37
3.9 Validity of Composition Levy 38
3.10 Transitional Provisions 39
3.11 Penalty 40
4SuPPLy oF GoodS And SErvICES
4.1 Meaning of Supply 41
4.2 What is Supply? 41
4.3 Sine Qua Non of Supply 42
4.4 Limbs of Supply 47
4.5 Inter-State Supplies of Goods and Services 58
4.6 Intra-State Supplies of Goods and Services 59
4.7 Supplies in Territorial Waters 59
5hArMonISEd SySTEM oF noMEnCLATurE (hSn)
5.1 History 60
5.2 Structure and Indian HSN 60
5.3 HSN Under GST 61
5.4 General Rules for the interpretation of the Harmonized System
61
5.5 Classification Principles 63
I-19 CONTENTS
PAGE
6LEvy And CoLLECTIon oF TAx
6.1 Levy of Tax 75
6.2 What is the Taxable Event under GST? 76
6.3 Applicability of CGST and SGST/UTGST 76
6.4 Applicability of IGST 76
6.5 GST Paid on Reverse Charge Basis 76
6.6 GST Paid by E-Commerce Operator 77
6.7 Levy of GST on Composite and mixed Supply 78
6.8 Composition Levy 78
6.9 Power to Grant Exemption under GST 81
7TIME oF SuPPLy
7.1 Introduction 82
7.2 Time of Supply of Goods 82
7.3 Time of Supply of Services 84
7.4 Time of Supply of Services in case of Supply by Associated Enterprises Located Outside India
85
7.5 Change in Rate of Tax 85
8PLACE oF SuPPLy oF GoodS And SErvICES
8.1 Introduction 87
8.2 Place of Supply of Goods where Goods are Neither Imported Nor Exported - Section 10 of IGST Act
87
8.3 Place of Supply of Goods where Goods are Imported into or Exported From India - Section 11 of IGST Act
88
8.4 Place of Supply of Services where Supplier and Receiver are Located in India - Section 12 of IGST Act
88
8.5 Place of Supply of Services where Either Supplier or Re-cipient is Located Outside India-Section 13 of IGST Act
93
CONTENTS I-20
PAGE
9vALuE oF SuPPLy
9.1 Value of Taxable Supply 97
9.2 Amount included in the Value of Supply 98
9.3 Whether Free Supplies are included in the Value of Supply 99
9.4 Amount not included in the Value of Supply 100
9.5 Replacement or Warranty 101
9.6 Value of Supply of Goods or Services where the Consider-ation is not Wholly in Money
102
9.7 Open Market Value 103
9.8 Value of Supply of Goods or Services between Distinct or Related Person other than Agent
104
9.9 Value of Supply of Goods to a Related Person for Further Supply
104
9.10 Value Declared in the invoice shall be Accepted if Recipient (Related Person) is Eligible for full ITC
105
9.11 Price to Related Person is Acceptable if the Price Charged is same as Charged to Others
105
9.12 Value of Supply of Goods made or Received Through an Agent
105
9.13 Value of Supply of Services in Case of Pure Agent 106
9.14 Determination of Value of Service in Relation to Purchase or Sale of foreign Currency including Money Changing
107
9.15 Value of Service in Relation to Booking of Tickets for Travel by Air Provided by An Air Travel Agent
108
9.16 Value of Supply of Services in Relation to Life insurance Business
108
9.17 Determination of Value of Second Hand Goods 109
9.18 Value of Goods Repossessed from a Defaulting Borrower 109
9.19 Determination of Value of Redeemable Voucher or Coupon or token or Stamp (Other than Postage Stamp)
109
9.20 Value of Taxable Services Provided by Such Class of Service Provider as Notified by the Government
110
9.21 Rate of Exchange of Currency, Other than Indian Rupees, for Determination of Value
110
I-21 CONTENTS
PAGE
9.22 Value of Supply inclusive of Tax 110
10InPuT TAx CrEdIT
10.1 Meaning of input Tax and input Tax Credit 111
10.2 Eligibility for Taking input Tax Credit [Section 16(1) of CGST Act, 2017]
111
10.3 Input Tax Credit for Taxable Supplies 112
10.4 Input Tax Credit on Provisional Basis 112
10.5 Conditions of Entitlement for Availing input Tax Credit 112
10.6 Documentary Requirement for Claiming ITC 113
10.7 Manner of Availment of Credit 114
10.8 Who is not Eligible for input Tax Credit? 115
10.9 Input Tax Credit in various Situations 115
10.10 Time Limit of Claiming of input Tax Credit 116
10.11 Treatment/Utilization of input Tax Credit 116
10.12 Transfer of input Tax Credit 117
10.13 Input Tax Credit under Supplies other than Business 117
10.14 Exempted Supplies for input Tax Credit 118
10.15 How input Tax Credit is Apportioned? 118
10.16 Input Tax Credit cannot be claimed as Blocked Credit 118
10.17 Input Tax Credit for Banking Company or Financial insti-tution
120
10.18 Claim of input Tax Credit After New Registration 120
10.19 Input Tax Credit in Respect of inputs and Capital Goods sent for Job Work
121
10.20 Capital Goods: Now and then 121
10.21 Distribution of Credit by input Service Distributor 122
11InPuT TAx CrEdIT MATChInG
11.1 Introduction 124
11.2 GSTR-1 of Supplier to GSTR-2 of Recipient 124
11.3 Final Matching by GSTR-3 125
11.4 Matched input Tax Credit 125
CONTENTS I-22
PAGE
11.5 Communication of Final Acceptance 125
11.6 Communication of Discrepancy in Claim 126
11.7 Rectification of Discrepancy 126
12ExPorTS - SEZ And Eou
12.1 Exports 127
12.2 Export of Goods 127
12.3 Export of Services 128
12.4 Exports are Zero Rated Supply 128
12.5 Types of Exports - Zero Rated Supply 129
12.6 Mandatory Registration 129
12.7 Letter of Undertaking (LUT) for Specific Exporter 129
12.8 Execution of LUT 130
12.9 Furnishing of Bond and LUT With Jurisdictional Deputy or Assistant Commissioner
130
12.10 LUT and Bond 130
12.11 Input Tax Credit 131
12.12 Refund in Case of Exports 131
12.13 What is the Meaning of Special Economic Zone? 132
12.14 SEZ Treatment before GST 133
12.15 SEZ Under GST 133
12.16 SEZ Registration 134
12.17 Invoices for Supplies by SEZ 134
12.18 Export oriented Units (EOU) 135
12.19 Changes in FTP Provisions for GST Regime W.E.F. 1-7-2017 136
12.20 Sealing of Export Containers 138
13IMPorTS
13.1 What is the Meaning of Import? 141
13.2 Import Under GST Regime 141
13.3 Valuation in Import 142
13.4 Duties in Imports 142
I-23 CONTENTS
PAGE
13.5 Input Tax Credit 143
13.6 Import by SEZ and EOU 144
13.7 Deferred IGST 144
13.8 Import of Services 144
13.9 IGST on High Seas Sale 144
13.10 Import of Services Made on or After the Appointed Day 145
13.11 IGST Exemptions/Concessions Under GST 146
14rEGISTrATIon
14.1 Taxable Person 157
14.2 Person 157
14.3 Persons Liable for Registration - Section 22 of the CGST Act 158
14.4 Nature of Registration 159
14.5 Persons not Liable to be Registered - Section 23 of the CGST Act
159
14.6 Specific Circumstances under which Registration is Com-pulsory
160
14.7 Time Limit and Procedure for Registration 161
14.8 Deemed Registration 164
14.9 Voluntary Registration 164
14.10 Issue of Registration Certificate 165
14.11 Deemed Registration 165
14.12 Grant of Registration to the Person Deducting Tax at Source or Tax Collecting at Source
166
14.13 Meaning of Casual Taxable Person 166
14.14 Meaning of Non-Resident Taxable Person 166
14.15 Registration Procedure - Casual Taxable Person or Non- Resident Taxable Person (Section 27)
167
14.16 Operation in different States with a Single Registration 167
14.17 Grant of Registration to a Person Supplying online infor-mation and Database Access or Retrieval Services From a Place Outside India to a Non-Taxable online Recipient
168
14.18 Who is a Distinct Person Under GST? 168
14.19 Suo Motu Registration 168
CONTENTS I-24
PAGE
14.20 Unique Identity Number (UIN) 169
14.21 Display of Registration Certificate and Goods and Services Tax Identification Number on the Name Board
169
14.22 Amendments to the Registration Certificate 170
14.23 Cancellation of the Registration Certificate 171
14.24 Procedure of Cancellation 172
14.25 Cancellation of Registration Versus Tax Obligations 173
14.26 Revocation of Cancellation of Registration 173
14.27 Physical Verification of Business Premises 174
14.28 Applicability of Registration Provision on IGST 174
14.29 Migration of Persons to GST 174
14.30 Cancellation of Provisional Registration 175
14.31 Method of Authentication 175
15InvoICES
15.1 Meaning of tax invoice 177
15.2 Who can raise a tax invoice? 177
15.3 Essentials of an invoice 177
15.4 Invoices in case of Exports 179
15.5 Consolidated Tax Invoice 179
15.6 Time Limit for issuing tax invoice 180
15.7 Manner of issuance of an invoice 180
15.8 When Tax invoice has to be raised? 180
15.9 Receipt Voucher 182
15.10 Refund Voucher 183
15.11 Payment Voucher 184
15.12 Revised tax invoice 185
15.13 Discount 185
15.14 Credit Note 186
15.15 Debit Note 187
15.16 Exempted and Non-taxable Goods 189
15.17 Input Service Distributor 190
15.18 Transportation of Goods without issue of invoice 192
I-25 CONTENTS
PAGE
15.19 Electronic Way Bill 19415.20 Necessity of E-Way Bill 19415.21 Validity of E-Way Bill 19415.22 Cancellation of E-Way Bill 19515.23 Multiple Consignments 19515.24 Documents and Devices to be carried by the Person in
charge of a Conveyance195
15.25 Precautions in invoices and returns 195
16PAyMEnT oF TAxES
16.1 Electronic Ledgers 19716.2 Electronic Liability Ledger 19716.3 Electronic Credit Ledger 19816.4 Electronic Cash Ledger 19916.5 Priority in Payment of Liability 20116.6 Deemed passing of incidence 20116.7 Miscellaneous Provisions 20116.8 Interest on delayed payment of tax 202
16ATAx dEduCTEd AT SourCE (TdS)
16A.1 Tax deducted at source 203
17TAx CoLLECTEd AT SourCE (TCS)
17.1 Tax collected at source 206
18rETurnS
18.1 Return and valid return 209
18.2 Outward Supply 210
18.3 Furnishing Details for Outward Supply (Section- 37) 210
18.4 Inward Supply 212
18.5 Furnishing the Details of inward Supply 212
18.6 Furnishing of Returns 214
18.7 When are the Returns to be Filed? 218
CONTENTS I-26
PAGE
18.8 Matching, Reversal and Reclaim of Credit 220
18.9 Matching, Reversal and Reclaim of Reduction in Output Tax Liability
221
18.10 Annual Return 224
18.11 Final Return 224
18.12 Notice to Non-Filers 224
18.13 Levy of Late Fee 225
18.14 Goods and Services Tax Practitioners 225
19rEFund
19.1 Refund in GST 226
19.2 Refund Procedure 227
19.3 Refund Amount Paid to Applicant 231
19.4 Withholding of Refund 231
19.5 Procedure in Case of Withholding of Amount 232
19.6 Relevant Date 232
19.7 Refund of ITC 233
19.8 Refund of Tax to Certain Persons 234
19.9 Refund of IGST in Case of Export With Payment of Tax 235
19.10 Refund of Unutilized ITC When Goods Exported Under Bond or LUT.
236
19.12 Refund in Case of Casual and Non-Resident Taxable Person 237
19.13 Refund Under IGST 237
19.14 Applicability of Unjust Enrichment 238
19.15 Consumer Welfare Fund & Its Utilization 238
20TrAnSITIonAL ProvISIonS
20.1 Migration of Already Registered Taxpayers 239
20.2 Transitional Arrangements for input Tax Credit for Person Registered Under the Previous Law and also Registered in GST Regime
240
20.3 Transitional Arrangements for input Tax Credit for Person Not Registered or With Abetment Under the Previous Law But Registered in GST Regime
242
I-27 CONTENTS
PAGE
20.4 Goods which are Taxable under the Earlier Law but Ex-empted under the GST Regime
244
20.5 Goods which are Exempted under the Earlier Law and Also Exempted under GST Regime
244
20.6 Taxable and Exempted Goods or Services Under Earlier Law But Both Taxable under GST (Sub-Section (4) of Section 140)
244
20.7 Input Goods or Services Received on or after the Appoint-ed Day but the Duty and Tax in Respect of which is Paid under the Earlier Law - (Sub-section (5) of Section 140 of the CGST Act)
245
20.8 Person Paying Tax at Fixed Rate or Amount under the Earlier Law but Normal Tax Payable under GST (Section 140(6) of CGST Act)
245
20.9 Credit Received by an ISD prior to the Appointed Day (Section 140(7) of CGST Act)
246
20.10 Cenvat Credit by a Person Having Centralized Registration Under Earlier Law (Sub-section (8) of Section 140 of CGST Act)
246
20.11 Reversal of Cenvat Credit Availed for input Services (Sub-section (9) of Section 140 of CGST Act)
247
20.12 Transitional Provisions Relating to Job Work (Section 141) 247
20.13 Miscellaneous Transitional Provisions (Section 142 of CGST Act)
248
21JoB Work
21.1 Introduction 254
21.2 Procedure for Job Work 255
21.3 Input Tax Credit on inputs under Job Work 258
21.4 Input Tax Credit on Capital Goods under Job Work 259
21.5 Transitional Provisions Relating to Job Work 259
21.6 Scenario after Implementing GST 260
22rEvErSE ChArGE BASIS
22.1 Introduction 261
22.2 Registration 262
CONTENTS I-28
PAGE
22.3 Goods under Reverse Charge 262
22.4 Services under Reverse Charge 263
22.5 Input Tax Credit Under Reverse Charge 264
22.6 Intra-State Exemption 264
22.7 Composition Scheme under Reverse Charge 265
22.8 Tax Invoices 265
22.9 GST Compensation CESS 266
22.10 Reverse Charge Basis Tax - Supply of Goods 266
22.11 Reverse Charge Basis Tax - Supply of Services 267
22.12 Reverse Charge Basis Payment was under Service Tax but not under GST
271
23InPuT SErvICE dISTrIBuTor (ISd)
23.1 Introduction 272
23.2 Meaning of ISD under GST 272
23.3 Registration of ISD 273
23.4 Invoice issued by ISD 273
23.5 Manner of Distribution of Credit by ISD 274
23.6 Conditions for Distribution 275
23.7 Other Conditions that Need to be Fulfilled for Distribution of Credit by ISD
275
23.8 Change in input Tax Credit 277
23.9 Recovery of Credit Distributed in Excess 277
23.10 Returns by ISD 277
24GoodS And SErvICES TAx PrACTITIonEr (GSTP)
24.1 Who is A GSTP? 278
24.2 How to become AGSTP? 278
24.3 Grant of Certificate of Registration 279
24.4 Can the GSTP be Disqualified? 280
24.5 Authorising GSTP 280
24.6 Furnishing of Information By GSTP 280
I-29 CONTENTS
PAGE
24.7 Functions of GSTP 281
24.8 Conditions for Purposes of Appearance 281
25ACCounTS And rECordS
25.1 Records in Principal Place of Business 282
25.2 Who has to Maintain Accounts and Records? 288
25.3 List of Accounts & Records to be Maintained 288
25.4 Powers of Commissioner to Mandate Maintaining of Records 289
25.5 Period of Retention of Accounts 289
26ASSESSMEnT And AudIT
26.1 Meaning of Assessment 291
26.2 Provisional Assessment 291
26.3 Final Assessment 292
26.4 Interest, Refund & Release of Security 292
26.5 Scrutiny of Returns 293
26.6 Non-Satisfactory Explanation 293
26.7 Assessment of Non-Filers of Returns 294
26.8 Assessment of Unregistered Persons 294
26.9 Summary Assessment in Certain Special Cases 295
26.10 Audit by Tax Authorities 295
26.11 Who Can Conduct Audit 296
26.12 Special Audit 297
27AdvAnCE ruLInG
27.1 Meaning of Advance Ruling 298
27.2 Origin of Advance Ruling 298
27.3 Advance Ruling in Pre-GST Era 298
27.4 Objective of Advance Ruling 299
27.5 Criteria for Advance Ruling 299
27.6 Applicability of Advance Ruling on GST 299
CONTENTS I-30
PAGE
27.7 Who is An Applicant? 299
27.8 Advance Ruling in IGST 300
27.9 Who is the Authority or Appellate Authority? 300
27.10 State-wise Advance Ruling Mechanism 300
27.11 Constitution of Authority & Appellate Authority 301
27.12 What is the Procedure for Filing an Application for Advance Ruling?
301
27.13 Where to File an Application for Advance Ruling or Appeal Against Authority?
303
27.14 How to Pay Fees for an Application for Advance Ruling or Appeal Against Authority?
303
27.15 What is the Procedure for Appealing to Appellate Authority for Advance Ruling?
303
27.16 Certification of Pronounced Ruling 304
27.17 Can Advance Ruling be Rectified? 305
27.18 Is the Advance Ruling Binding? 305
27.19 When Advance Ruling is not Binding? 305
27.20 Can Advance Ruling be held Void? 306
27.21 What are the Powers of the Authority/Appellate Authority? 306
27.22 When Application for Advance Ruling cannot be Made 306
27.23 Prospective or Retrospective Effect 307
27.24 Does Advance Ruling has any Precedential Value? 307
27.25 Can the order of Advance Ruling Authority be Challenged? 307
28dEMAndS And rECovEry
28.1 Demand 309
29APPEALS And rEvISIon
29.1 Appeal to Appellate Authority - First Appeal 322
29.2 Power of Revisional Authority 327
29.3 Appeal to Appellate Tribunal - Second Appeal 329
29.4 Orders Passed by the Appellate Tribunal 332
29.5 Refund with interest 333
I-31 CONTENTS
PAGE
29.6 Appearance by the Authorized Representative 333
29.7 Appeal to the High Court 334
29.8 Appeal to Supreme Court 336
29.9 Sum Due to be Paid 337
29.10 Appeal not to be Filed in Certain Cases 337
29.11 Non-Appealable orders 337
29.12 Appellate Tribunals and Appellate benches 338
29.13 Appointment and Qualifications of the President and Members
340
29.14 Powers of President 343
29.15 Procedure of Appeal before Appellate Tribunal (Section - 111)
343
30oFFEnCES And PEnALTIES
30.1 Offences 345
30.2 Quantum of Penalty 346
30.3 Penalty on Person other than Taxable Person 347
30.4 Penalty on Failure to Furnish information Return or Sta-tistics
347
30.5 General Penalty 348
30.6 Criteria for Imposing Penalties 348
30.7 Penalty in Certain Cases 349
30.8 Waiving of Penalty 349
30.9 Transportation of Goods in Contravention of the Provisions of the Act
350
30.10 Procedure or Release 350
30.11 Circumstances under which Goods can be Confiscated 351
30.12 Option to Redeem After Confiscation of Goods 351
30.13 Specific offences 352
30.14 Punishment for offences 353
30.15 What are Non-Cognizable offences? 354
30.16 What are Cognizable offences? 354
30.17 What is the Liability of officers and Certain Other Persons? 354
CONTENTS I-32
PAGE
30.18 Cognizance of offences 355
30.19 Is Culpable Mental State Necessary for Prosecution? 355
30.20 Relevancy of Statements under Specific Circumstances 356
30.21 Company Prosecuted under Any offence 356
30.22 Other Persons 356
30.23 If no Knowledge 357
31CoMPoundInG oF oFFEnCES
31.1 Compounding of offences 358
31.2 Compounding by Commissioner 358
31.3 Procedure of Compounding 358
31.4 Offences that cannot be Compounded 359
31.5 Conditional Compounding 360
31.6 Monetary Limits for Compounding 360
31.7 Abatement 360
32SPECIFIC FAQs
32.1 Whether Disposal of an Asset, without Consideration, on Which No Credit has been taken, Amounts to Supply?
361
32.2 Are Self-Supplies Taxable under GST? 361
32.3 Goods Supplied on Hire Purchase Basis will be treated as Supply of Goods or Supply of Services?
362
32.4 Whether Transfer of Title and/or Possession is Necessary for a Transaction to Constitute Supply of Goods?
362
32.5 Whether Partners’ Remuneration is Taxable in GST? 362
32.6 Whether interest, Fine & Penalty Will be included in Val-uation?
363
32.7 Whether Secondary Packing will be included in Value? 363
32.8 Whether Secondary Packing of Goods Results into Making of a Composite Supply?
363
32.9 What is the Default Presumption for Place of Supply in Respect of Registered Recipients?
364
32.10 What is the Default Presumption for Place of Supply in Respect of Unregistered Recipients?
364
I-33 CONTENTS
PAGE
32.11 A Person in Goa Buys Shares From a Broker in Delhi on NSE (in Mumbai). What will be the Place of Supply?
364
32.12 A Person Living in Mumbai Goes to Kullu-Manali and Takes Some Services from ICICI Bank in Manali. What will be the Place of Supply?
364
32.13 A Person from Gurgaon Travels by Air India Flight from Mumbai to Delhi and gets his Travel insurance done in Mumbai. What will be the Place of Supply?
365
32.14 What will be the Place of Supply if the Goods are Delivered by the Supplier to a Person on the Direction of a Third Person?
365
32.15-16 Suppose a Road is Constructed From Delhi to Mumbai Covering Multiple States. What will be the Place of Supply?
365
32.17 What will be Place of Supply for GTA Service meant for Exports?
366
32.18 Whether a Principal Place of Business is Required to Pay GST on Supplies Made to an Additional Place of Business?
366
32.19 How to Send Goods to an Additional Place of Business Located within the State?
366
32.20 If inputs on Which ITC is Availed are Later on Supplied Without being used for Purpose of Business of Taxable Supply, is it Mandatory to Pay GST?
366
32.21 Whether ITC will be admissible in Exempted Goods Ex-ported out of India?
366
32.22 When Capital Goods are Removed after use, then Whether any Tax is Required to be Paid?
367
32.23 What is the Time Period for Availment of input Tax Credit? 367
32.24 Is input Tax Credit Allowed only after Matching? 367
32.25 Is there any Restriction on Availment of ITC on Capital Goods?
367
32.26 Whether the Reversed ITC and interest after being Matched Can be Re-Credited again?
367
32.27 Whether Payment by Third Party can be a Reason for Denial of ITC on inputs?
368
32.28 What are the Documents Required to avail ITC? 368
32.29 Whether one can Avail ITC on Capital Goods where it could not be Capitalized?
368
32.30 Whether ITC can be Availed on inputs and Capital Goods sent Directly to Job Workers?
368
CONTENTS I-34
PAGE
32.31 Whether the Amount of Credit Detected by the System on Account of Mismatch between GSTR-1 and GSTR-2 and Recovered as Output Tax can be Reclaimed?
369
32.32 Is there any Time Period or Limitation in Re-Credit of Amount Added to Output Tax due to Mismatch?
369
32.33 Whether After Availment of ITC, a Recipient is Mandatorily Required to Make Payment to the Supplier as Well?
369
32.34 How Many Copies of Credit Notes are to be issued? 369
32.35 What are the Mandatory Details to be incorporated in a Credit Note?
370
32.36 Whether Credit Note is Required to be Declared in GSTR-1? 370
32.37 When is a Credit Note Required to be issued? 370
32.38 Whether a Debit or Credit Note can be issued at Any Point of Time?
371
32.39 Whether a Debit Note can be the Basis of Availment of ITC by Recipient?
371
32.40 How to Account for Returned Goods in GST Regime? 371
32.41 Whether Sample is a Supply? 371
32.42 Whether ITC can be Availed on Samples? 372
32.43 Whether ITC Can be Availed on Goods Written off? 372
32.44 If inputs on which ITC was Availed are lost in Fire, then Whether ITC is Required to be Reversed?
372
32.45 If inputs are lost during WIP or in Process, Will ITC Required to be Reversed?
372
32.46 How to send Goods to Job Worker? 373
32.47 What is Required to be Mentioned in Job Work Challan? 373
32.48 What is the Stipulated Period for inputs and Capital Goods Under the Provisions of Job Work?
374
32.49 Whether Discount is Permissible? 374
32.50 How to Account for Post Removal Discounts? 374
32.51 How to Treat Captive Consumption? Should it be treated as Supply?
375
32.52 Whether Supply of Second Hand Goods Liable to be taxed under CGST?
375
32.53 What would be the Treatment of CESS on the Sale of Second Hand Goods?
376
I-35 CONTENTS
Page
32.54 What are the intimation and Declaration Mandatory under the gST Provisions when goods are sent to Job Work?
376
32.55 Whether Cum Tax Value is applicable at Par with earlier Cum Duty Tax?
377
32.57 What is the Sequence of Payment of Tax where that Tax-payer has Liabilities for Previous Months also?
377
32.58 What is Sac Code in gST? 378
32.59 Why is it Necessary to Follow SaC Codes? 378
32.60 What is Compliance Rating under gST Regime? 378
33Anti Profiteering
33.1 Introduction 380
33.2 anti Profiteering in Malaysia 380
33.3 anti Profiteering Body in India 381
33.4 Compliance & Monitoring of order 381
33.5 Constitution of authority - Rule 122 382
33.6 Constitution of Standing Committee and Screening Com-mittees - Rule 123
382
33.7 appointment, Salary, allowances and Other Terms and Conditions of Service of a Commissioner - Rule 124
382
33.8 Secretary to the authority - Rule 125 383
33.9 Power to Determine the Methodology and Procedure - Rule 126
383
33.10 Duties of the authority - Rule 127 383
33.11 examination of application by the Standing Committee and Screening Committee - Rule 128
384
33.12 Initiation and Conduct of Proceedings - Rule 129 384
33.13 Confidentiality of information - Rule 130 385
33.14 Cooperation with Other agencies or Statutory authorities - Rule 131
386
33.15 Power to Summon Persons to give evidence and Produce Documents - Rule 132
386
33.16 Order of the authority - Rule 133 386
33.17 Decision to be taken by the Majority - Rule 134 387
33.18 Compliance by the Registered Person - Rule 135 387
CONTeNTS i-36
PAGE
33.19 Monitoring of the order - Rule 136 387
33.20 Tenure of the Authority - Rule 137 387
33.21 Relevant Explanation 387
34InSPECTIon, SEArCh, SEIZurE And ArrEST
34.1 Power of inspection and investigation 389
34.2 Search and Seizure 389
34.3 Procedure for Conducting Search 391
34.4 Inspection of Goods in Movement 391
34.5 Power to Arrest 391
34.6 Arrest Procedure 392
34.7 Arrest and Bail 392
34.8 Summon 392
34.9 Course of Action in Case of Non-Response to Summons 393
34.10 Access to Business Premises 393
34.11 Officers to Assist Proper officer 394
35LIABILITy
35.1 Transfer of Business 395
35.2 Agent and Principal 396
35.3 Liability in Case of Amalgamation or Merger of Companies 396
35.4 Liability in Case of Company in Liquidation 396
35.5 Liability of Directors of Private Company 397
35.6 Liability in Case of Partnership Firm 397
35.7 Liability of Guardians, Trustees Etc. 398
35.8 Special Provisions Regarding Liability to Pay Tax, interest or Penalty in Certain Cases
399
35.9 Liability in other Cases 400
36AdMInISTrATIon
36.1 Class and Appointment of officers under CGST Act 402
36.2 Class and Appointment of officers under SGST Act 404
I-37 CONTENTS
PAGE
36.3 Class and Appointment of officers under IGST Act 404
36.4 Powers of officers under CGST Act 405
37CLArIFICATIonS And PrESS rELEASE
u Clarifications and Press Release 406
38STATE CodE And TIn nuMBEr Co-rELATIon For
IMPLEMEnTInG ThE vALIdATIon
u State code and TIN number co-relation for implementing the validation
425
APPEndICES
u APPEndIx 1 : CENTRAL GOODS AND SERVICES TAx RULES, 2017 429
u APPEndIx 2 : CIRCULARS AND NOTIFICATIONS 522
CONTENTS I-38