Download Free E Book on GST By ICAI updated December 2021 MRP 1200

Goods and Services Tax (GST) came into effect from 1st July 2017 through the implementation of the One Hundred and First Amendment of the Co...

Goods and Services Tax (GST) came into effect from 1st July 2017 through the implementation of the One Hundred and First Amendment of the Constitution of India. It is one of the most significant indirect tax reforms since the independence of our country. It subsumed many existing indirect taxes levied by the Central and State Governments making the structure of indirect taxes much simpler than before. It is a comprehensive, multi-stage, destination-based tax. The tax rates, rules, and regulations are decided by the GST Council which consists of the Union Finance Minister and Finance Ministers of all the State Governments and Union Territories. 

The Institute of Chartered Accountants of India (ICAI) has always been a forerunner in taking initiatives towards educating and supporting the various stakeholders in implementing GST in the best possible manner. As a partner in nation-building, the ICAI always strives for smooth execution of the rules, regulations and laws as introduced and amended from time to time by the Government. Through its technical expertise and other resources, ICAI tries its best to let the members keep up to date with regular amendments which are specifically found in a new law like GST.

In contrast to the earlier indirect taxes which were collected from the point of origin, Goods and Services Tax (GST) came as a change, as the collection of this tax takes place from the point of consumption. The Centre as well as the States impose this tax on a transaction simultaneously making it a joint effort. The transaction ought to be a supply which can be a sale, transfer, barter, exchange, etc., for GST to be levied thereon. The GST law has undergone numerous amendments since its introduction four and a half years ago on July 1, 2017. 

Being the largest professional accounting body of India and a partner in nation-building, the Institute of Chartered Accountants of India (ICAI) considers its responsibility to support the Government in implementing the GST law in letter and spirit. The GST and Indirect Taxes Committee of ICAI has been disseminating the knowledge of GST amongst members and other stakeholders as also building the capacities of members in the area of GST through technical publications, GST Newsletter, Certificate Course, Virtual CPE meetings, Webcasts, ELearnings, etc. 

The “Background Material on GST” is one such comprehensive publication that contains a detailed and in-depth analysis of the entire GST law. Senior and erudite experts of the profession have contributed towards the development of this publication and have been continually involved in the regular updating of the same. It gives me immense pleasure to share with our readers the 10th revised edition of the Background Material on GST which is one of the most popular publications of our Committee. The subject matter of this publication is based on GST law updated with amendments made vide the Finance Act, 2021 and includes relevant notifications, circulars, orders, etc. issued till 31st December 2021.

To download the E-Book share the post on Facebook or Twitter and click on the shared link on your Facebook or Twitter Page and download File. 

[lock]
FREE E-BOOK ON GST BY ICAI UPDATED DECEMBER 2021

1. Volume-I
2. Volume-II

[/lock]

Not able to download, Mail us at Raniraj1950 at gmail.com with the subject "FREE E-BOOK ON GST BY ICAI UPDATED DECEMBER-2021" or visit page 2 for a link without Lock.

[next]

Contents 

VOLUME I 

I. THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 1-823 CHAPTER 1: PRELIMINARY 1-86 (Section no. 1 - 2, Rule no. 1 - 2) 1. Short title, extent and commencement 1 2. Definitions 5 

CHAPTER 2: ADMINISTRATION 87-94 (Section no. 3 - 6) 3. Officers under this Act 87 4. Appointment of officers 88 5. Powers of officers 89 6. Authorisation of officers of State tax or Union territory tax as proper officer in certain circumstances 89 

CHAPTER 3: LEVY AND COLLECTION OF TAX 95-204 (Section no. 7 - 10, Rule no. 3 - 7) 7. Scope of supply 95 8. Tax liability on composite and mixed supplies 132 9. Levy and collection 138 10. Composition levy 161 11. Power to grant exemption from tax 182 

CHAPTER 4: TIME OF SUPPLY 205-247 (Section no. 12 - 14) 12. Time of supply of goods 205 13. Time of supply of services 229 14. Change in rate of tax in respect of supply of goods or services 244 

CHAPTER 4A: VALUE OF SUPPLY 248-291 (Section no. 15, Rule no. 27 - 35) 15. Value of taxable supply 248 

CHAPTER 5: INPUT TAX CREDIT 292-418 (Section no. 16 - 21, Rule no. 36 - 45) 16. Eligibility and conditions for taking input tax credit 293 17. Apportionment of credit and blocked credits 316 18. Availability of credit in special circumstances 372 19. Taking input tax credit in respect of inputs and capital goods sent for job-work 388 20. Manner of distribution of credit by Input Service Distributor 396 21. Manner of recovery of credit distributed in excess 416 

CHAPTER 6: REGISTRATION 419-483 (Section no. 22 - 30, Rule no. 8 - 26) 22. Persons liable for registration 420 23. Persons not liable for registration 429 24. Compulsory registration in certain cases 434 25. Procedure for registration 439 26. Deemed registration 458 27. Special provisions relating to casual taxable person and non-resident taxable person 459 28. Amendment of registration 463 29. Cancellation of registration 466 30. Revocation of cancellation of registration 476 

CHAPTER 7: TAX INVOICE, CREDIT AND DEBIT NOTES 484-540 (Section no. 31 - 34, Rule no. 46 - 55A) 31. Tax invoice 484 32. Prohibition of unauthorised collection of tax 529 33. Amount of tax to be indicated in tax invoice and other documents 531 34. Credit and debit notes 532 

CHAPTER 8: ACCOUNTS AND RECORDS 541-558 (Section no. 35 - 36, Rule no. 56 - 58) 35. Accounts and other records 541 36. Period of retention of accounts 556 

CHAPTER 9: RETURNS 559-646 (Section no. 37 - 48, Rule no. 59 - 84) 37. Furnishing details of outward supplies 566 38. Furnishing details of inward supplies 575 39. Furnishing of Returns 580 40. First return 596 41. Claim of input tax credit and provisional acceptance thereof 597 42. Matching, reversal and reclaim of input tax credit 597 43. Matching, reversal and reclaim of reduction in output tax liability 603 44. Annual return 609 45. Final return 613 46. Notice to return defaulters 615 47. Levy of late fee 616 48. Goods and services tax practitioners 619 

CHAPTER 10: PAYMENT OF TAX 647-700 (Section no. 49 to 53A, Rule no. 85 - 88A) 49. Payment of tax, interest, penalty and other amounts 647 50. Interest on delayed payment of tax 674 51. Tax deducted at source 679 52. Tax collected at source 689 53. Transfer of input tax credit 696 

CHAPTER 11: REFUNDS 701-823 (Section no. 54 - 58, Rule no. 89 - 97A) 54. Refund of tax 702 55. Refund in certain cases 777 56. Interest on delayed refunds 782 57. Consumer Welfare Fund 785 58. Utilisation of Fund 791 II. THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017 825-966 CHAPTER 1: PRELIMINARY 827-847 (Section no. 1 – 2) 1. Short title, extent and commencement 827 2. Definitions 829 

CHAPTER 2: ADMINISTRATION 848-849 (Section no. 3 - 4) 3. Appointment of officers 848 4. Authorisation of officers of State tax or Union territory tax as proper officer in certain circumstances 848 

CHAPTER 3: LEVY AND COLLECTION OF TAX 850-863 (Section no. 5 – 6) 5. Levy and Collection 850 6. Power to grant exemption from tax 860 

CHAPTER 4: DETERMINATION OF NATURE OF SUPPLY 864-880 (Section no. 7 - 9) 7. Inter-State supply 865 8. Intra-State supply 873 9. Supplies in territorial waters 877 

CHAPTER 5: PLACE OF SUPPLY OF GOODS OR SERVICES OR BOTH 881-932 (Section no. 10-14/ Rule No. 3-9) 10. Place of supply of goods other than supply of goods imported into, or exported from India 881 11. Place of supply of goods imported into, or exported from India 890 12. Place of supply of services where location of supplier and recipient is in India 894 13. Place of supply of services where location of supplier or location of recipient is outside India 917 14. Special provision for payment of tax by a supplier of online information and database access or retrieval services 927 CHAPTER 6: REFUND OF INTEGRATED TAX TO INTERNATIONAL TOURIST 933-934 (Section no. 15) 15. Refund of integrated tax paid on supply of goods to tourist leaving India 933 

CHAPTER 7: ZERO RATED SUPPLY 935-949 (Section no. 16) 16. Zero rated supply 935

CHAPTER 8: APPORTIONMENT OF TAX AND SETTLEMENT OF FUNDS 950-954 (Section no. 17 - 19) 17. Apportionment of tax and settlement of funds 950 18. Transfer of input tax credit 953 19. Tax wrongfully collected and paid to Central Government or State Government 954 

CHAPTER 9: MISCELLANEOUS 955-965 (Section no. 20 - 25) 20. Application of provisions of Central Goods and Services Tax Act 955 21. Import of services made on or after the appointed day 958 22. Power to make rules 960 23. Power to make regulations 962 24. Laying of rules, regulations and notifications 963 25. Removal of difficulties 964 III. THE UNION TERRITORY GOODS AND SERVICES TAX Act, 2017 967-988 

CHAPTER 1: PRELIMINARY 969-973 1. Short title, extent and commencement 969 2. Definitions 970 

CHAPTER 2: ADMINISTRATION 974-976 3. Officers under this Act 974 4. Authorisation of officers 974 5. Powers of officers 974 6. Authorisation of officers of Central Tax as proper officer in certain circumstances 975 

CHAPTER 3: LEVY AND COLLECTION OF TAX 977-988 7. Levy and Collection 977 8. Power to grant exemption from tax 982 IV. GOODS AND SERVICES TAX (COMPENSATION TO STATES) Act, 2017 989–996 1. Short title, extent and commencement 989 2. Definitions 990 8. Levy and collection of Cess 990 9. Returns, payments and refunds 991 10. Crediting proceeds of Cess to Fund 991 11. Other provisions relating to Cess 992 NOTE ON STATE GST LAWS & RULES 997–998 

VOLUME II

I. THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 999-1449 CHAPTER 12: ASSESSMENT 999-1030 (Section no. 59 - 64, Rule no. 98 - 100) 59. Self-assessment 999 60. Provisional assessment 1003 61. Scrutiny of Returns 1010 62. Assessment of non-filers of returns 1017 63. Assessment of unregistered persons 1023 64. Summary assessment in certain special cases 1027 

CHAPTER 13: AUDIT 1031-1040 (Section no. 65 - 66, Rule no. 101 - 102) 65. Audit by tax authorities 1031 66. Special audit 1037 

CHAPTER 14: INSPECTION, SEARCH, SEIZURE AND ARREST 1041-1096 (Section no. 67 - 72, Rule no. 138 - 141) 67. Power of inspection, search and seizure 1041 68. Inspection of goods in movement (including E-way bill) 1053 69. Power to arrest 1086 70. Power to summon persons to give evidence and produce documents 1090 71. Access to business premises 1092 72. Officers to assist proper officers 1095 

CHAPTER 15: DEMANDS AND RECOVERY 1097-1161 (Section no. 73 - 84, Rule no. 142 - 161) 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 1098 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 1106 75. General provisions relating to determination of tax 1112 76. Tax collected but not paid to the Government 1118 77. Tax wrongfully collected and paid to the Central or a State Government 1123 78. Initiation of recovery proceedings 1126 79. Recovery of tax 1128 80. Payment of tax and other amount in instalments 1145 81. Transfer of property to be void in certain cases 1148 82. Tax to be first charge on property 1150 83. Provisional attachment to protect revenue in certain cases 1152 84. Continuation and validation of certain recovery proceedings 1157 

CHAPTER 16: LIABILITY TO PAY IN CERTAIN CASES 1162-1196 (Section no. 85 - 94) 85. Liability in case of transfer of business 1162 86. Liability of agent and principal 1169 87. Liability in case of amalgamation or merger of companies 1172 88. Liability in case of company in liquidation 1178 89. Liability of directors of Private Company 1182 90. Liability of partners of firm to pay tax 1183 91. Liability of guardians, trustees, etc. 1185 92. Liability of Court of Wards, etc. 1187 93. Special provisions regarding liability to pay tax, interest or penalty in certain cases 1189 94. Liability in other cases 1194 

CHAPTER 17: ADVANCE RULING 1197-1241 (Section no. 95 - 106, Rule no. 103 - 107A) 95. Definition clause – interpretation 1197 96. Authority for Advance Ruling 1200 97. Application for Advance Ruling 1203 98. Procedure on receipt of application 1208 99. Appellate Authority for Advance Ruling 1213 100. Appeal to Appellate Authority 1214 101. Orders of Appellate Authority 1217 102. Rectification of advance ruling 1231 103. Applicability of advance ruling 1233 104. Advance ruling to be void in certain circumstances 1235 105. Powers of Authority and Appellate Authority 1138 106. Procedure of Authority and Appellate Authority 1241 

CHAPTER 18: APPEALS AND REVISION 1242-1284 (Section no. 107 - 121, Rule no. 108 - 116) 107. Appeals to Appellate Authority 1242 108. Powers of Revisional Authority 1250 109. Constitution of Appellate Tribunal and Benches thereof 1253 110. President and Members of Appellate Tribunal, their qualification, appointment, conditions of service, etc. 1258 111. Procedure before Appellate Tribunal 1261 112. Appeals to Appellate Tribunal 1263 113. Orders of Appellate Tribunal 1269 114. Financial and administrative powers of President 1272 115. Interest on refund of amount paid for admission of appeal 1273 116. Appearance by authorised representative 1274 117. Appeal to High Court 1277 118. Appeal to Supreme Court 1280 119. Sums due to be paid notwithstanding appeal, etc. 1281 120. Appeal not to be filed in certain cases 1282 121. Non-appealable decisions and orders 1283 

CHAPTER 19: OFFENCES AND PENALTIES 1285-1326 (Section no. 122 - 138, Rule no. 162) 122. Penalty for certain offences 1285 123. Penalty for failure to furnish information return 1296 124. Fine for failure to furnish statistics 1297 125. General penalty 1297 126. General disciplines related to penalty 1299 127. Power to impose penalty in certain cases 1303 128. Power to waive penalty or fee or both 1304 129. Detention, seizure and release of goods and conveyances in transit 1305 130. Confiscation of goods or conveyances and levy of penalty 1310 131. Confiscation or penalty not to interfere with other punishments 1313 132. Punishment for certain offences 1314 133. Liability of officers and certain other persons 1319 134. Cognizance of offences 1320 135. Presumption of culpable mental state 1320 136. Relevancy of statements under certain circumstances 1321 137. Offences by companies 1322 138. Compounding of offences 1323 

CHAPTER 20: TRANSITIONAL PROVISIONS 1327-1405 (Section no. 139 - 142, Rule no. 117 - 121) 139. Migration of existing taxpayers 1327 140. Transitional arrangements for input tax credit 1335 141. Transitional provisions relating to job work 1374 142. Miscellaneous transitional provisions 1382 

CHAPTER 21: MISCELLANEOUS 1406-1497 (Section no. 143 - 174, Rule no. 122 - 137) 143. Job work procedure 1407 144. Presumption as to documents in certain cases 1420 145. Admissibility of micro films, facsimile copies of documents and computer printouts as documents and as evidence 1421 146. Common Portal 1424 147. Deemed exports 1425 148. Special procedure for certain processes 1427 149. Goods and services tax compliance rating 1432 150. Obligation to furnish information return 1434 151. Power to collect statistics 1438 152. Bar on disclosure of information 1439 153. Taking assistance from an expert 1440 154. Power to take samples 1441 155. Burden of proof 1442 156. Persons deemed to be public servants 1443 157. Protection of action taken under this Act 1443 158. Disclosure of information by a public servant 1444 159. Publication of information in respect of persons in certain cases 1448 160. Assessment proceedings, etc., not to be invalid on certain grounds 1452 161. Rectification of errors apparent on the face of record 1454 162. Bar on jurisdiction of Civil Courts 1460 163. Levy of fee 1461 164. Power of Government to make rules 1462 165. Power to make regulations 1465 166. Laying of rules, regulations and notifications 1465 167. Delegation of powers 1466 168. Power to issue instructions or directions 1468 169. Service of notice in certain circumstances 1471 170. Rounding off of tax, etc. 1475 171. Anti -profiteering measure 1477 172. Removal of difficulties 1487 173. Amendment of Act 32 of 1994 1489 174. Repeal and saving 1490

FREE E-BOOK ON GST BY ICAI UPDATED DECEMBER 2021

1. Volume-I
2. Volume-II

Not able to download, Mail us at Raniraj1950 at gmail.com with the subject "FREE E-BOOK ON GST BY ICAI UPDATED DECEMBER-2021" or visit page 2 for a link without Lock.