FREE EBOOK ON GST CLAUSE BY CLAUSE ACT-RULES ANALYSIS UPDATED MAY 2018

The GST roll-out on 1st July 2017 has paved the way for realization of the goal of One Nation- One Tax - One Market. GST is expected to be...

The GST roll-out on 1st July 2017 has paved the way for realization of the goal of One Nation- One Tax - One Market. GST is expected to benefit Indian economy overall with most tax compliant businesses getting favourably impacted. It should in time reduce the cost of goods & services, giving a boost to the export of products and services. It would also foster ‘Make in India’ initiative. GST promotes the concept of common market with common tax rates & procedures and removal of economic barriers thus improving ease of doing business.

We stand by the Government with our role as “Partner in GST Knowledge Dissemination” and have always been supporting Government with our intellectual resources, expertise and efforts to make the GST error-free and a successful venture across in India. To make the knowledge dissemination process smoother. We have updated the 4 editions of “Background Material on GST Acts and Rules”. This Background Material is comprehensive containing clause by clause analysis of the GST Acts, rules, recent notifications, circulars or orders issued by the Government from time to time along with FAQ’s, MCQ’s, Flowcharts, Diagrams and Illustrations etc. to make the reading and understanding easier.

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This Book contains a clause by clause analysis of the four GST acts viz Central Goods & Service Tax Act, Union Territory Goods & Service Tax Act, Integrated Goods & Service Tax Act and the GST (Compensation to States) Act, 2017.

To Download Free E Book on GST,Please share this Link on Facebook or Twitter or Google Plus and click the Link from your Facebook,Twitter or Google Plus page. 

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Contents

VOLUME 1

I. THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 1-740

CHAPTER I: PRELIMINARY 1-54

1. Short title, extent and commencement 1

2. Definitions 2

CHAPTER II: ADMINISTRATION 55-59

3. Officers under this Act 55

4. Appointment of officers 56

5. Powers of officers 57

6. Authorisation of officers of State tax or Union territory tax as proper officer

in certain circumstances 58

CHAPTER III: LEVY AND COLLECTION OF TAX 60-94

7. Scope of supply 60

8. Tax liability on composite and mixed supplies 61

9. Levy and collection 61

10. Composition levy 81

CHAPTER IIIA: CLASSIFICATION & EXEMPTION 95-111

11. Power to grant exemption from tax 104

CHAPTER IV: TIME AND VALUE OF SUPPLY 112-163

12. Time of supply of goods 112

13. Time of supply of services 125

14. Change in rate of tax in respect of supply of goods or services 134

15. Value of taxable supply 136

CHAPTER V: INPUT TAX CREDIT 164-220

16. Eligibility and conditions for taking input tax credit 164

17. Apportionment of credit and blocked credits 173

18. Availability of credit in special circumstances 183

19. Taking input tax credit in respect of inputs and capital goods sent for job-work 197

20. Manner of distribution of credit by Input Service Distributor 203

21. Manner of recovery of credit distributed in excess 218

CHAPTER VI: REGISTRATION 221-245

22. Persons liable for registration 221

23. Persons not liable for registration 225

24. Compulsory registration in certain cases 227

25. Procedure for registration 229

26. Deemed registration 234

27. Special provisions relating to casual taxable person and non-resident taxable

person 235

28. Amendment of registration 236

29. Cancellation of registration 237

30. Revocation of cancellation of registration 241

CHAPTER VII: TAX INVOICE, CREDIT AND DEBIT NOTES 246-262

31. Tax invoice 246

32. Prohibition of unauthorised collection of tax 255

33. Amount of tax to be indicated in tax invoice and other documents 256

34. Credit and debit notes 256

CHAPTER VIII: ACCOUNTS AND RECORDS 263-272

35. Accounts and other records 263

36. Period of retention of accounts 270

CHAPTER IX: RETURNS 273-320

37. Furnishing details of outward supplies 273

38. Furnishing details of inward supplies 282

39. Furnishing of Returns 290

40. First return 302

41. Claim of input tax credit and provisional acceptance thereof 302

42. Matching, reversal and reclaim of input tax credit 303

43. Matching, reversal and reclaim of reduction in output tax liability 308

44. Annual return 314

45. Final return 315

46. Notice to return defaulters 316

47. Levy of late fee 316

48. Goods and services tax practitioners 317

CHAPTER X: PAYMENT OF TAX 321-345

49. Payment of tax, interest, penalty and other amounts 321

50. Interest on delayed payment of tax 329

51. Tax deducted at source 333

52. Tax Collected at Source 340

53. Transfer of input tax credit 345

CHAPTER XI: REFUNDS 346-378

54. Refund of tax 346

55. Refund in certain cases 369

56. Interest on delayed refunds 371

57. Consumer Welfare Fund 374

58. Utilisation of Fund 377

CHAPTER XII: ASSESSMENT 379-396

59. Self-assessment 379

60. Provisional assessment 381

61. Scrutiny of Returns 386

62. Assessment of non-filers of returns 389

63. Assessment of unregistered persons 392

64. Summary assessment in certain special cases 394

CHAPTER XIII: AUDIT 397-404

65. Audit by tax authorities 397

66. Special audit 401

CHAPTER XIV: INSPECTION, SEARCH, SEIZURE AND ARREST 405-428

67. Power of inspection, search and seizure 405

68. Inspection of goods in movement 411

69. Power to arrest 419

70. Power to summon persons to give evidence and produce documents 423

71. Access to business premises 424

72. Officers to assist proper officers 427

CHAPTER XV: DEMANDS AND RECOVERY 429-469

73. Determination of tax not paid or short paid or erroneously refunded or

input tax credit wrongly availed or utilised for any reason other than

fraud or any wilful misstatement or suppression of facts 429

74. Determination of tax not paid or short paid or erroneously refunded or

input tax credit wrongly availed or utilised by reason of fraud or any

wilful misstatement or suppression of facts 433

75. General provisions relating to determination of tax 437

76. Tax collected but not paid to the Government 442

77. Tax wrongfully collected and paid to the Central or a State Government 446

78. Initiation of recovery proceedings 447

79. Recovery of tax 449

80. Payment of tax and other amount in instalments 457

81. Transfer of property to be void in certain cases 460

82. Tax to be first charge on property 462

83. Provisional attachment to protect revenue in certain cases 464

84. Continuation and validation of certain recovery proceedings 467

CHAPTER XVI: LIABILITY TO PAY IN CERTAIN CASES 470-490

85. Liability in case of transfer of business 470

86. Liability of agent and principal 473

87. Liability in case of amalgamation or merger of companies 474

88. Liability in case of company in liquidation 475

89. Liability of directors of Private Company 478

90. Liability of partners of firm to pay tax 479

91. Liability of guardians, trustees, etc. 481

92. Liability of Court of Wards, etc. 483

93. Special provisions regarding liability to pay tax, interest or penalty in certain cases 484

94. Liability in other cases 489

CHAPTER XVII: ADVANCE RULING 491-511

95. Definition clause – interpretation 491

96. Authority for Advance Ruling 494

97. Application for Advance Ruling 494

98. Procedure on receipt of application 496

99. Appellate Authority for Advance Ruling 501

100. Appeal to Appellate Authority 501

101. Orders of Appellate Authority 503

102. Rectification of advance ruling 505

103. Applicability of advance ruling 506

104. Advance ruling to be void in certain circumstances 507

105. Powers of Authority and Appellate Authority 509

106. Procedure of Authority and Appellate Authority 511

CHAPTER XVIII: APPEALS AND REVISION 512-542

107. Appeals to Appellate Authority 512

108. Powers of Revisional Authority 516

109. Constitution of Appellate Tribunal and Benches thereof 518

110. President and Members of Appellate Tribunal, their qualification, appointment,

conditions of service, etc. 521

111. Procedure before Appellate Tribunal 524

112. Appeals to Appellate Tribunal 525

113. Orders of Appellate Tribunal 529

114. Financial and administrative powers of President 532

115. Interest on refund of amount paid for admission of appeal 532

116. Appearance by authorised representative 533

117. Appeal to High Court 536

118. Appeal to Supreme Court 539

119. Sums due to be paid notwithstanding appeal, etc. 540

120. Appeal not to be filed in certain cases 540

121. Non-appealable decisions and orders 541

CHAPTER XIX: OFFENCES AND PENALTIES 543-573

122. Penalty for certain offences 543

123. Penalty for failure to furnish information return 550

124. Fine for failure to furnish statistics 551

125. General penalty 552

126. General disciplines related to penalty 553

127. Power to impose penalty in certain cases 555

128. Power to waive penalty or fee or both 556

129. Detention, seizure and release of goods and conveyances in transit 557

130. Confiscation of goods or conveyances and levy of penalty 560

131. Confiscation or penalty not to interfere with other punishments 563

132. Punishment for certain offences 563

133. Liability of officers and certain other persons 567

134. Cognizance of offences 567

135. Presumption of culpable mental state 568

136. Relevancy of statements under certain circumstances 569

137. Offences by companies 569

138. Compounding of offences 571

CHAPTER XX: TRANSITIONAL PROVISIONS 574-635

139. Migration of existing taxpayers 574

140. Transitional arrangements for input tax credit 581

141. Transitional provisions relating to job work 608

142. Miscellaneous transitional provisions 615

CHAPTER XXI: MISCELLANEOUS 636-713

143. Job work procedure 637

144. Presumption as to documents in certain cases 646

145. Admissibility of micro films, facsimile copies of documents and computer

printouts as documents and as evidence 646

146. Common Portal 649

147. Deemed exports 650

148. Special procedure for certain processes 652

149. Goods and services tax compliance rating 654

150. Obligation to furnish information return 656

151. Power to collect statistics 659

152. Bar on disclosure of information 660

153. Taking assistance from an expert 661

154. Power to take samples 661

155. Burden of proof 662

156. Persons deemed to be public servants 663

157. Protection of action taken under this Act 663

158. Disclosure of information by a public servant 664

159. Publication of information in respect of persons in certain cases 668

160. Assessment proceedings, etc., not to be invalid on certain grounds 672

161. Rectification of errors apparent on the face of record 673

162. Bar on jurisdiction of Civil Courts 678

163. Levy of fee 679

164. Power of Government to make rules 681

165. Power to make regulations 683

166. Laying of rules, regulations and notifications 684

167. Delegation of powers 684

168. Power to issue instructions or directions 686

169. Service of notice in certain circumstances 688

170. Rounding off of tax, etc. 692

171. Anti-profiteering measure 694

172. Removal of difficulties 701

173. Amendment of Act 32 of 1994 703

174. Repeal and saving 703

SCHEDULE-I 709

SCHEDULE-II 710

SCHEDULE-III 713

II. THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017 715-817

CHAPTER I: PRELIMINARY 716-730

1. Short title, extent and commencement 716

2. Definitions 717

CHAPTER II: ADMINISTRATION 731

3. Appointment of officers 731

4. Authorisation of officers of State tax or Union territory tax as proper officer

in certain circumstances 731

CHAPTER III: LEVY AND COLLECTION OF TAX 732-743

5. Levy and Collection 732

6. Power to grant exemption from tax 740

CHAPTER IV: DETERMINATION OF NATURE OF SUPPLY 744-758

7. Inter-State supply 744

8. Intra-State supply 753

9. Supplies in territorial waters 756

CHAPTER V: PLACE OF SUPPLY OF GOODS OR SERVICES OR BOTH 759-788

10. Place of supply of goods other than supply of goods imported into, or

exported from India 759

11. Place of supply of goods imported into, or exported from India 766

12. Place of supply of services where location of supplier and recipient is in India 769

13. Place of supply of services where location of supplier or location of recipient

is outside India 779

14. Special provision for payment of tax by a supplier of online information and

database access or retrieval services 784

CHAPTER VI : REFUND OF INTEGRATED TAX TO INTERNATIONAL TOURIST 789-790

15. Refund of integrated tax paid on supply of goods to tourist leaving India 789

CHAPTER VII: ZERO RATED SUPPLY 791-803

16. Zero rated supply 791

CHAPTER VIII : APPORTIONMENT OF TAX AND SETTLEMENT OF FUNDS 804-808

17. Apportionment of tax and settlement of funds 804

18. Transfer of input tax credit 806

19. Tax wrongfully collected and paid to Central Government or State

Government 807

CHAPTER IX: MISCELLANEOUS 809-843

20. Application of provisions of Central Goods and Services Tax Act 809

21. Import of services made on or after the appointed day 812

22. Power to make rules 814

23. Power to make regulations 815

24. Laying of rules, regulations and notifications 815

25. Removal of difficulties 816

III. THE UNION TERRITORY GOODS AND SERVICES TAX Act, 2017 819-835

CHAPTER I: PRELIMINARY 819-823

1. Short title, extent and commencement 819

2. Definitions 820

CHAPTER II: ADMINISTRATION 824-825

3. Officers under this Act 824

4. Authorisation of officers 824

5. Powers of officers 824

6. Authorisation of officers of Central Tax as proper officer in certain

circumstances 824

CHAPTER III: LEVY AND COLLECTION OF TAX 826-835

7. Levy and Collection 826

8. Power to grant exemption from tax 831

IV. THE GOODS AND SERVICES TAX (COMPENSATION TO STATES) Act, 2017 837–841

1. Short title, extent and commencement 837

2. Definitions 837

8. Levy and collection of cess 838

9. Returns, payments and refunds 838

11. Other provisions relating to cess 839

V. NOTE ON STATE GST LAWS & RULES 843-845

VOLUME 2

VI. CENTRAL GOODS AND SERVICES TAX RULES 847-969

1. Preliminary 847

2. Composition 848

3. Registration 852

4. Determination of Value of Supply 865

5. Input Tax Credit 871

6. Tax Invoice, Credit and Debit Notes 883

7. Accounts and Records 892

8. Returns 896

9. Payment of Tax 910

10. Refund 915

11. Assessment and Audit 927

12. Advance Ruling 930

13. Appeals and Revision 932

14. Transitional Provisions 936

15. Anti-Profiteering 939

16. E-way 945

17. Inspection, Search and Seizure 959

18. Demands and Recovery 961

19. Offences and Penalties 969

INTEGRATED GOODS AND SERVICES TAX RULES 971-978

IMPORTANT NOTIFICATIONS 979-1266

1. Central Tax 979

2. Central Tax (Rate) 1053

3. Integrated Tax 1230

4. Integrated Tax (Rate) 1244

5. Union Territory 1249

6. Compensation Cess 1254

7. Compensation Cess (Rate) 1255

IMPORTANT CIRCULARS 1267-1316

1. Central Tax 1272

2. Integrated Tax 1307

3. Compensation Cess 1314

IMPORTANT ORDERS 1317-1328

1. Central Tax 1317

2. Union Territory Tax 1328

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