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

15.06.2019

Fraudster avails Rs. 62 lakh GST refund, FIR filed.

Navi Mumbai: An FIR has been registered at CBD police station against an unidentified person, who registered a non-existent company by misusing the name, PAN card, Aadhar card and address of a New Panvel resident. He also duped the exchequer by obtaining a GST number and fraudulently availing Integrated Goods and Services Tax refund of nearly Rs 62 lakh.

In the FIR, assistant commissioner Santosh Walunj has stated he was assigned to investigate Kenworth Enterprises. On April 27, when he and his team reached the registered office address of the company’s owner Akash Gaikwad at Panchsheel Nagar slum area in sector-17, New Panvel, they learnt it was the residence of Arun Gaikwad. His son Akash denied being the owner of Kenworth Enterprises and said he had not registered any company with the GST department.

 

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12.06.2019

New monthly GST system’s rollout in Oct.

New Delhi: The finance ministry said on Tuesday the new monthly GST return filing system will be rolled out from October. The rollout is three months behind schedule. The ministry was originally targeting a July rollout of the new return system, as mandated by the GST Council last year.

The existing monthly summary returns GSTR-3B shall be completely phased out from January 2020 when the new form ‘GST RET-01’ is set to replace it, the ministry said, while announcing the road map for ‘Transition plan to the new GST Return’.

Elaborating on the system, the finance ministry said businesses will be able to use the new return filing system (ANX-1 and ANX-2) on a trial basis for three months from July to September 2019, which will help them get familiarised with the system. AGENCIES

 

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03.06.2019

Govt probes I-T & GST mismatch in crackdown against evaders - Thousands of ‘Fraudulent’ Firms Identified.

New Delhi: Back in office, the Modi government is set to take up the next stage of action against tax evasion and money laundering with data analysis helping detect thousands of overstated goods and services tax (GST) claims that don’t match up with income tax returns.

Action against these entities, which might be the first layer of suspicious transactions, is being launched with notices being sent out. The clean-up operation follows the earlier exercise where potential shell companies were scanned and directors were found fake. Many of these companies were struck off the rolls.

This is the first time the government is matching income tax and GST returns and initial findings have pointed to overstatement of GST claims and understatement of income in tax returns, officials told TOI. The action against such entities might be tough with the Supreme Court recently read more »

02.06.2019

Despite slow sales in durables & auto, GST mop-up touches Rs. 1L cr - Gross Collection For April Up By 6.7% Compared To Last Year.

New Delhi: Goods and services tax (GST) collection stayed over the Rs 1 lakh crore mark for April despite a slowdown in auto, consumer product and durables sales.

Latest data released by the finance ministry on Saturday showed that gross collections for April were estimated at Rs 1,00,289 crore, 6.7% higher than the Rs 94,016 crore mopped up a year ago.

The latest realisation was, however, 12% lower than previous month as companies rushed to meet the sales target at the end of the financial year. GST revenue for the month of April is reflected as collections in May in government accounts.

“The normal continuing trend of collections above Rs 1 lakh crore signifies the growth story of GST and also the reaping benefits of this new tax era. While last two months had witnessed higher growth on read more »

30.05.2019

Firm director held for ?7cr GST fraud.

Mumbai: The director of two companies who fraudulently submitted fake purchase invoices to claim input tax credit and duped the exchequer of Rs 7 crore was arrested by Central Goods Service Tax (CGST) Authority.

Shoeb Dayater, a resident of Palghar, was charged under sections of GST Act 2017 and sent to judicial custody.

CGST officials said Dayater is director of Elenya India Trading Pvt Ltd and Faxon India Trading Pvt Ltd, which supply leather bags, glass beads, imitation jewellery and cutlery goods. TNN

 

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27.05.2019

GST refunds: Single authority likely by Aug.

New Delhi: A single authority for sanctioning and processing GST refunds is in the offing as the finance ministry looks to speed up and simplify the process for exporters, an official said. The current mechanism entails a twin refund sanctioning authority of the central and state tax officers but that could change by August when the proposed structure involving a single authority comes in place. AGENCIES

 

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27.05.2019

TRIBUNAL RULING - Realtors may get GST relief on development rights.

Chennai: A new service tax ruling may offer real estate developers relief on the Goods & Services Tax (GST) liability on transfer of rights in a property for development purposes (TDR).

Ruling in favour of DLF Commercial Properties, a decision by Chandigarh tribunal last week held that an owner transferring rights to a promoter to develop his property should be seen as ‘benefits arising out of transfer of an immovable property,’ and hence not be subject to service tax. Tax practitioners and GST experts TOI spoke to say that this brings relief to all developers with pending litigations under the erstwhile service tax regime, and also helps the sector argue for the analogy to be applied for not levying GST on TDR.

The judgment gives a new perspective to contest the levy of GST in cases of joint development agreements, a read more »

25.05.2019

BIG RELIEF? - HC: No GST at duty-free shops.

New Delhi: Multiple court rulings on payment of goods and services tax (GST) at duty-free shops are making life confusing for those buying perfumes and chocolates from these stores.

A recent Allahabad high court judgment may, however, provide some relief with the court ruling that there shall be no tax levied in case of purchases made at duty free stores at the arrival or departure terminals. The court held that tax will not be levied as the goods never cross customs border and passengers carry the items as their personal effect.

The ruling is similar to the one by Karnataka high court where in case of Flemingo Duty Free Shop, it was held that sale or purchase by such stores would be a transaction in the course of export or import.

But what complicates matters is a ruling read more »

23.05.2019

Govt eyes higher ease of doing biz rankings - Banks On GST Gains, Better Debt Recovery.

New Delhi: The government is banking on gains from goods and services tax (GST) and higher recovery from bad debt that is now subject to insolvency resolution to move up the World Bank’s Ease of Doing Business rankings.

Officials from the department for promotion of industry and internal trade (DPIIT) have made a detailed presentation to World Bank officials in Washington to argue India’s case and currently a team is visiting the country to assess the impact of the changes that have been highlighted by the government.

The focus is on six of the 10 parameters where DPIIT believes significant improvement has taken place during the last 12 months (see graphic). But steps have been initiated on all other aspects too, although results may not be fully visible yet as in the case with improvement in the functioning of commercial courts read more »

09.05.2019

Builder’s tax call will decide your GST rate - For Under-Construction Flat, You Will Get 5% Levy Benefit Only If He Moves To New Regime.

New Delhi: Your GST liability will only come down to 5% on the remaining instalments of your under-construction apartment, if your builder decides to move to the new mechanism.

Under the revised regime, the GST Council has lowered the levy to 5% from 12% (and to 1% from 8% for affordable housing), but taken away the benefit of tax credit on inputs such as cement, paints and steel as builders were seen to be pocketing it and charging flat 12% GST.

In a set of FAQs, the government has clarified that you can hope to move to a 5% or 1% rate for the remaining portion of the under-construction flat.

So, if you had paid 40% of the value of the flat up to March 31 and your builder decides to move to the new regime, you can 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