A Reference Library for Customs, Excise, Goods & Services Tax Officers and Tax Payers

GOODS AND SERVICES TAX (GST)

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GST Revenue Collections

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GST Revenue Collections

I. GST Laws and Rules

1. THE CONSTITUTION (ONE HUNDRED AND FIRST AMENDMENT) ACT, 2016
2. GST Acts
THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 (CGST Act, 2017)
THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017 (IGST Act, 2017)
THE UNION TERRITORY GOODS AND SERVICES TAX ACT, 2017 (UTGST Act, 2017)
THE GOODS AND SERVICES TAX (COMPENSATION TO STATES) ACT, 2017 (GST (CS) Act, 2017)
3. GST Rules Advance Ruling Rules and Formats
Anti Profiteering Rules
Appeals and Revision Rules and Formats
Assessment and Audit Rules , Assessment Formats and Audit Formats
E-Way Bill Rules
Composition Rules and Formats
Valuation Rules
Input Tax Credit Rules and Formats
Tax Invoice, Debit & Credit Notes Rules
Payment of Tax Rules and Formats
Refund Rules and Formats
Registration Rules and Formats
Return Rules and Goods and Services Tax Practitioner Formats, Mismatch Formats, Return Formats
Transition Rules and Formats
Credit Transfer Document
Accounts and Records Rules and Formats
4. GST Rates GST Rates on Goods Chapter wise GST Rate Schedule for Goods decided in the GST Council Meeting held on 18.05.2017
Chapter wise GST Rate Schedule for Goods Decided in the GST Council Meeting Held on 03.06.2017
GST Compensation Cess Rates Decided in the GST Council Meeting Held on 18.05.2017
Addendum to the GST Rate Schedule for Goods - 18.05.2017
Addendum to the GST Rate Schedule for Goods - 03.06.2017
IGST Exemption, Concession List - 03.06.2017
GST Rates Approved by the GST Council Meeting Held on 11.06.2017
IGST Exemptions Approved by the GST Council Meeting Held on 11.06.2017
Revised Threshold for Composition Scheme Approved by the GST Council Meeting Held on 11.06.2017
Composition Levy & GST Rate on Certain Goods Decided in 17th GST Council Meeting Held on 18.06.2017
GST Rates on Services GST Rate Schedule for Services
List of Services under Reverse Charge
Classification Scheme for Services under GST
Decisions Taken by the GST Council in the 16th Meeting Held on 11.06.2017
Decisions taken by the GST Council in the 17th Meeting Held on 18.06.2017

II. GST Related News Headlines

07-08-2018

GST? What GST?

It is almost 11 months since the Goods and Services Tax (GST) came into being. Yet, the necessary consequential changes have not been made in the Spe­cial Economic Zones (SEZ) Act, 2005, or the SEZ Rules, 2006.

There is no mention of GST in either. References to the repealed laws for Service Tax, purchase tax, etc., continue in the SEZ laws. For example, Section 26(e) of the SEZ Act still says every developer and entrepreneur shall be entitled to exemption from Service Tax under Chapter V of the Finance Act, 1994 (32 of 1994) on taxable services provided to a developer or unit to carry on the author­ised operations in a SEZ. Similarly, Section 26(f) and (g) of this Act talk of securi­ty transaction tax and purchase tax. Similarly so with the SEZ Rules, 2006. Some­body needs to tell the Commerce Ministry that read more »

04-08-2018

Sanitary napkin makers face scrutiny on sharing GST gains - No Duty Cuts For MSMEs - Rules Likely To Be Eased Today.

New Delhi: The finance ministry is conducting a cost calculation of sanitary napkin manufacturing to see if the benefits from GST waiver have been fully passed on to consumers or not, even as it appeared satisfied with sharing of gains for other products on which rates have been reduced. “There are instructions to issue notices to companies which are noncompliant,” a finance ministry source told TOI.

The anti-profiteering provisions allow the designated agency to order an inquiry against those who do not pass on entire gains to consumers or raise prices beyond increase in tax. Since GST was launched in July 2017, several FMCG players, such as Hindustan Unilever and P&G have come under scrutiny, along with food chains like Domino’s.

While government officials and some tax consultants believe that waiver of GST on sanitary napkins, instead of levying 12% tax, read more »

02-08-2018

GST collections surge to 3-month high in June.

New Delhi: GST collections were at three month high in June with the total mop-up estimated at Rs 96,483 crore, a shade lower than the monthly target of Rs 1 lakh crore.

The gross mop-up, highest since March, is in line with the target and expected to improve further, Piyush Goyal, who is officiating as finance minister, told reporters after a meeting of the Union Cabinet where amendments to the GST laws were cleared. The move follows an approval to the amendments by the GST Council which will increase the turnover threshold for businesses to avail the less cumbersome composition scheme to Rs 1.5 crore. As many as 46 amendments were cleared by the GST Council at its meeting on July 21.

Data released by the finance ministry showed that in June, Central GST collections were Rs. 15,877 crore, while State read more »

31-07-2018

TAX BENEFITS - Anti-profiteering body seeks Airtel, IndiGo’s inputs on GST.

New Delhi: The GST antiprofiteering authority has sought inputs from Bharti Airtel and budget airline IndiGo on whether GST or credit allowed on inputs in the new regime has created room for reduction in prices.

Taking suo moto cognisance of the impact of GST on prices in telecom and aviation sector, the National Anti-Profiteering Authority (NAA) has asked the market leaders in the sectors to calculate the input tax credit (ITC) benefits that have accrued to them and whether it was enough to pass on to end-consumers, a source said. “The companies have been asked to submit the calculation within a fortnight,” the source said.

With regards to the telecom sector, which saw a rise in tax incidence after GST, the source said, “there may not be enough room for passing on the benefits, but the NAA is seeking calculation from read more »

27-07-2018

Sanitary napkins to be 1.5-2.5% cheaper, not 12%.

Mumbai: With the government not giving in to the demands of the Feminine and Infant Hygiene Association (FIHA) to provide input tax credit (ITC) on sanitary napkins, large organised players are said to be working on reducing product prices in the range of 1.5-2.5%. Contrary to the general expectation that sanitary napkin prices would reduce by 12% following the GST exemption, the price reduction would only be marginal in the absence of ITC.

Industry sources said companies are working on the new prices, which would come into effect once the GST notification is issued. When contacted, Procter & Gamble India (P&G) and Johnson & Johnson (J&J) — the two large players in the roughly Rs 4,500-crore feminine hygiene market — declined to comment.

FIHA is represented by companies like J&J, P&G, Dima Products, Kimberly Clark, Soothe Healthcare, Unicharm, Saral Designs, Shekhani read more »

27-07-2018

Has GST filing time been cut to a third? - No, Say Experts.

New Delhi: The government on Thursday said GST has reduced the number of tax filings for businesses, while slashing the preparation, filing and tax payment time to 36 hours, which is almost a third of the 105 hours that were spent earlier, drawing a sharp response from companies and tax practitioners.

The claim made during a presentation to highlight the steps on ease of doing business was questioned, saying the numbers may not be in order. Besides, some company executives said this was more like a statement of intent at the moment as the filing process, which faced severe criticism in the initial months of rollout, is being revamped for simplification.

The department of industrial policy and promotion (DIPP), which is pushing for a further improvement in India’s ranking from the current 100, is highlighting easier tax payment rules, on the read more »

24-07-2018

White goods sales set to surge on 7-8% price cut.

New Delhi: The white goods industry is anticipating a bumper festive season as the latest round of duty cuts in GST is expected to combine with gains from a healthy monsoon to spur demand in rural and urban areas. The industry had a dull festive period last year, ironically on account of GST as teething problems related to its introduction had dampened sentiment.

Kamal Nandi, VP at Godrej Appliances, said prices would come down by 7-8% (after making certain adjustments) as new stocks start rolling in. “It brings in good sentiments and we expect the industry to grow by around 12-15% this festive period against muted or single-digit growth over the past one-and a-half years.”

read more »

24-07-2018

GSTN’s IT tools to track evaders.

New Delhi: GST Network (GSTN) is developing IT tools to help the government crackdown on evaders as well as those who have stopped filing returns.

Even as returns are not being matched currently, GSTN is testing a tool for tax officers at the Centre and at the state level to enable them to match their GSTR-1, which is the first return, with GSTR 3B with ease. In addition, a dashboard is planned for tax officers and taxpayers, similar to the one for income tax, where the details of each GST payer is available along with the tax credits and other information.

Separately, an alert is planned to be sent to those who have stopped filing returns, to enable them to comply with the rules. Even in case of income tax, the government is pushing the “stop filers” to file returns to read more »

23-07-2018

No fresh relief for Vaishno Devi, Amarnath trusts.

New Delhi: The government has rejected requests from the Shri Amarnathji Shrine Board and the Shri Mata Vaishno Devi Shrine Board to exempt all services provided by them from GST.

The fitment committee has suggested that several services — such as sale of prasad and renting of rooms up to Rs 1,000 a day — were already exempted as they were covered by the rules meant for charitable bodies. In case of transport by battery cars, an exemption was also available.

Similarly, in case of Amarnath, the government has argued that medical services provided to yatris are already exempted from GST. But it has rejected a plea for exempting GST on the registration fee for the yatra, where the levy is to the tune of 18%, arguing that the tax is “nominal”.

In case of travel, some of read more »

23-07-2018

Hotels breathe easy with tax on actual rate.

New Delhi: The next time you stay in a five-star, the hotel will no longer have to offer you their ‘European Plan’ (EP) — which includes only basic room rate (no breakfast) — in order to have the lowest rack rate of below Rs 7,500 and avoid the highest tax slab of 28%.

With the GST Council now allowing hotels (applicable essentially to five-stars) to levy tax at rates on which rooms are let out — and not their printed/ rack rates — luxury hotels can charge 18% for rooms for less than Rs 7,500 per night.

Travel portal Yatra COO Sharat Dhall said, “Earlier, if a room with a rack rate of Rs 8,000 was let out for Rs 6,000, the tax charged was 28% on Rs 7,500. Now, if the same room is let out for the same price, read more »

III. E-Version of Goods and Services Tax (GST) Fliers

1. E-Version of Goods and Services Tax (GST) Fliers - Accounts and Records
2. E-Version of Goods and Services Tax (GST) Fliers - Advance Ruling Mechanism
3. E-Version of Goods and Services Tax (GST) Fliers - Aggregate Turnover
4. E-Version of Goods and Services Tax (GST) Fliers - Anti-profiteering
5. E-Version of Goods and Services Tax (GST) Fliers - Appeals Meachanism
6. E-Version of Goods and Services Tax (GST) Fliers - Audit Note
7. E-Version of Goods and Services Tax (GST) Fliers - Benefits of GST
8. E-Version of Goods and Services Tax (GST) Fliers - Casual Taxpayers
9. E-Version of Goods and Services Tax (GST) Fliers - Charitable and Religious Trusts
10. E-Version of Goods and Services Tax (GST) Fliers - Composite Mixed Supply
11. E-Version of Goods and Services Tax (GST) Fliers - Credit Notes
12. E-Version of Goods and Services Tax (GST) Fliers - Debit Note
13. E-Version of Goods and Services Tax (GST) Fliers - Goods Transport Service
14. E-Version of Goods and Services Tax (GST) Fliers - GST Practitioners
15. E-Version of Goods and Services Tax (GST) Fliers - IGST
16. E-Version of Goods and Services Tax (GST) Fliers - Imports
17. E-Version of Goods and Services Tax (GST) Fliers - Input Service Distributor
18. E-Version of Goods and Services Tax (GST) Fliers - Input Tax Credit (ITC) Mechanism
19. E-Version of Goods and Services Tax (GST) Fliers - Inspection Search Seizure and Arrest
20. E-Version of Goods and Services Tax (GST) Fliers - Jobwork
21. E-Version of Goods and Services Tax (GST) Fliers - Margin Scheme
22. E-Version of Goods and Services Tax (GST) Fliers - Meaning and Scope of supply
23. E-Version of Goods and Services Tax (GST) Fliers - Non-resident Taxable Person
24. E-Version of Goods and Services Tax (GST) Fliers - Non-resident Taxpayer
25. E-Version of Goods and Services Tax (GST) Fliers - OIDAR
26. E-Version of Goods and Services Tax (GST) Fliers - Provisional Assessment
27. E-Version of Goods and Services Tax (GST) Fliers - Pure Agent
28. E-Version of Goods and Services Tax (GST) Fliers - Recovery of Tax
29. E-Version of Goods and Services Tax (GST) Fliers - Refunds
30. E-Version of Goods and Services Tax (GST) Fliers - Registration of GST
31. E-Version of Goods and Services Tax (GST) Fliers - Returns of GST
32. E-Version of Goods and Services Tax (GST) Fliers - Reverse Charge Mechanism (RCM)
33. E-Version of Goods and Services Tax (GST) Fliers - Tax Invoice
34. E-Version of Goods and Services Tax (GST) Fliers - TCS Mechanism
35. E-Version of Goods and Services Tax (GST) Fliers - TDS Mechanism
36. E-Version of Goods and Services Tax (GST) Fliers - Transitional Provisions
37. E-Version of Goods and Services Tax (GST) Fliers - Valuation

IV. FAQ - Frequently Asked Questions on Goods and Services Tax (GST)

1. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Questions/ Clarifications sought
2. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Composition Levy
3. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Cooperative Society
4. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Drugs and Pharmaceuticals
5. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - E-commerce
6. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Emails
7. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Emails
8. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Exports
9. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Food Processing
10. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Gems and Jewellery
11. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Government Services
12. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Handicrafts
13. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - IT and ITES
14. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Mining
15. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - MSME
16. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Rates
17. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Textiles
18. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Traders
19. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Tweets
20. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Tweets
21. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Tweets
22. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Second Edition
23. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - Hindi
24. FAQ - Frequently Asked Questions on Goods and Services Tax (GST) - First Edition

V. Goods and Services Tax in India - Overview

VI. Goods and Services Tax in India - Migration

VII. Dr. Hasmukh Adhia, Revenue Secretary, GOI on GST

VIII. Goods and Services Tax in India - Background



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