GOODS AND SERVICES TAX (GST)

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GST Revenue Collections

GST - 3 Years of Commitment

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

23.07.2020

CBIC notification about e-invoice schema, mandatory e-invoicing to be released by next week.

MANGALURU: The Central Board of Indirect Taxes and Customs (CBIC) will in a week’s time come out with a notification about implementing e-invoicing, a form of electronically-authenticated invoices, from October 1 only for businesses with turnover of Rs 500 crore or more, a top official said at in ASSOCHAM webinar on Thursday.

“The QR codes are definitely not happening on October 1 but the e-invoice schema and Rs 500 crore turnover related notification should be out by next week and the industry can start working on as everything is ready, the FAQs, the circular will be issued at the earliest,” said Yogendra Garg, Principal Commissioner (GST-I), GST Policy Wing, CBIC in an ‘ASSOCHAM e-Conclave on 3 years of GST - Further streamline needed?’

He also stated that CBIC would improve the existing GST return filing system instead of rolling out a read more »

03.07.2020

Central agencies detect Rs 512 crore GST evasion in one year after raids in Indore.

The directorate general of GST Intelligence (DGGI), responsible for checking indirect tax evasion, claimed to have detected goods and sales tax (GST) evasion of approximately Rs 512 crore in the past one year leading to seizure of several bank accounts and properties in Indore apart from arrest of five persons, according to a Friday official release by the enforcement agency under the ministry of finance.

According to the agency, the tax evasion estimate may rise further after assessing the data related to more dummy firms that may have provided raw material to the firm that was raided in Indore.

“Operation Kark, (launched) to counter illicit sale of pan masala/ tobacco/ cigarettes, which was initiated on May 30, has till now detected GST evasion of about Rs 512 Crore in the last one year, while five persons have been arrested in this operation. In read more »

25.05.2020

Imported cigarettes worth Rs. 3 crore seized.

Officials of the Directorate of Revenue Intelligence (DRI) in association with SGST personnel seized a huge quantity of foreign cigarettes imported illegally. The stocks were being transported from New Delhi, the DRI officials said.

DRI Vijayawada unit officials intercepted a truck heading to a transport company office at P. Nainavaram village in Krishna district on Saturday and seized 29,99,600 cigarette packets of ‘Paris’ brand of Myanmar origin packed in 300 boxes.

“As the cigarettes were not legally imported and do not possess any health warning as per the requirements, stocks worth about ?3 crore have been confiscated under the provisions of the Customs Act, 1962,” the DRI officials said in a press release.

read more »

15.03.2020

GST Council asks Infosys to fix filing issues by July.

New Delhi: The GST Council on Saturday moved in with fresh checks, including getting information from banks, to plug evasion, while deciding to instruct Infosys to fix technical glitches to the filing system by July.

Finance Minister Nirmala Sitharaman said the Centre will explore the possibility of raising money from the markets to help generate funds for states that have been complaining of shortfall in compensation as several of them have seen less than 14% growth in collections.

A key theme of the meeting was to get Infosys to fix the filing problems that are being encountered by taxpayers for several months. With company executives failing to resolve the issue, the Council took the unprecedented step of asking the software company’s chairman and co-founder Nandan Nilekani to make a presentation, where he was asked to explain what triggers the problems. Sitharaman read more »

15.03.2020

Prices of mobiles set to go up as GST hiked from 12% to 18% - But Govt Says Hike May Not Result In Increase In Prices.

New Delhi: The GST Council on Saturday announced an increase in the levy on mobile phones to 18% from 12%, although the government said it may not result in a proportionate increase in prices.

The hike was aimed at correcting a situation where inputs face higher levies than the final product, resulting in problems and delays in refunds. Apart from mobile phones, footwear, fertilisers and textiles too were among the list of items with “inverted duty structure”, but after detailed deliberations, the panel comprising Union and state finance ministers decided to move ahead with an increase in the levy on handsets and some specific parts, finance minister Nirmala Sitharaman told reporters after the meeting. Correcting the rate structure for the other products will be taken up later, she added.

“The mobile manufacturers will do the calculations but it is not simple read more »

12.03.2020

GST rates may rise on mobiles & footwear - Levies On Man-Made Fibres, Fertilisers To Be Reviewed.

New Delhi: Ahead of the Goods and Services Tax (GST) Council meeting on Saturday, the government is pushing for a review of the levy on mobile phones, footwear, fertiliser and man-made fibres to correct a major discrepancy that has crept in where the duty on the finished product is lower than those on inputs.

The “inverted duty structure” is resulting in massive refund claims on tax paid on inputs, although the government does not allow credit for levies on input services and capital goods, making the tax regime inefficient. Estimated annual refund on account of inverted rate structure was estimated at around Rs 20,000 crore.

At least four items — mobile phones, footwear, manmade fabrics and fertiliser — have been identified for a possible change in levies, which may rise in a phased manner. The move is part of a review read more »

09.03.2020

Govt to Nilekani: Explain failure to fix GSTN glitch - Infosys Chairman To Make Presentation Before Council.

New Delhi: The government has asked Infosys chairman Nandan Nilekani to make a presentation before the GST Council next week as the IT major has repeatedly failed to fix glitches in the GST Network (GSTN), the technology backbone for the indirect tax.

Recently, the government was forced to stagger the deadline for filing returns as Infy executives were unable to address the concerns. These range from a slowdown in the platform to login errors or auto logouts, as well as a delay in getting one-time passwords, among several other complaints submitted by users.

In fact, postponing the deadline for some of the returns was seen as a major embarrassment for the government as it wants the entire tech platform’s system to be glitch-free.

This was despite summons to senior company executives by revenue secretary A B P Pandey, read more »

02.03.2020

GST collection tops Rs. 1 lakh cr for the fourth straight mth.

New Delhi: GST collections rose 8.3% in February to Rs 1.05 lakh crore compared to the same month last year, the fourth straight month of over Rs 1 lakh crore mop-up, although it was marginally lower than the over Rs 1.1 lakh crore garnered in January 2020.

Compliance, however, improved further with the number of returns filed jumping 13.6% to a record 83.5 lakh by the deadline of February 20, latest data released by the finance ministry on Sunday showed. The collections and returns filed in February are for sales in January.

While collections from the domestic front went up 12%, the import slowdown saw a 3% decline in Integrated GST, the biggest of the three components of the indirect tax. Central GST increased nearly 17% to Rs 20,569 crore, while state GST was up 13% at Rs 27,348 crore.

read more »

13.02.2020

Delayed GST payments face ?46k cr interest - Officers Asked To Collect Money On Entire Liability.

New Delhi: Tax authorities have estimated interest dues of close to Rs 46,000 crore from GST taxpayers as penalty for delayed payment, opening a fresh front against late and non-filers.

The Central Board of Indirect Taxes and Customs (CBIC) has instructed top officials across the country to initiate recovery proceedings against those who have not cleared their interest liability, while pointing out that the systems wing has done a detailed analysis of each GST Identification Number for non-payment of taxes by the deadline of 20th of every month. Based on the estimate on February 1, field officers have begun issuing notices, sources told TOI.

Apart from a late payment fee of Rs 100 a day for central GST and a matching amount for state GST, the law also provides for a levy of 18% penal interest.

CBIC has read more »

01.02.2020

Here are sector-wise highlights of the 2020 Union Budget presented by Finance Minister Nirmala Sitharaman.

Presenting the Union Budget for 2020-21, Finance Minister Nirmala Sitharaman said, “In May 2019, Prime Minister Narendra Modi received a massive mandate to form the government again. People of India have unequivocally given their janaadesh for not just political stability, but have also reposed their faith in our economic policy. This is a budget to boost their income and enhance their purchasing power.”

Here are the highlights of this year’s budget:

Tax:

A new tax regime has been announced. Those who want to be in the old regime with exemptions, can continue to pay at the old rates.

read more »

Income

Tax

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