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

13.08.2019

Poorer states score big in GST mop-up - Industrialised Peers Lag On New Tax.

New Delhi: Consuming states such as Bihar, Odisha, UP and Madhya Pradesh — many of whom may be poorer but have large populations — are faring better in goods and services tax (GST) collections than their industrialised peers such as Maharashtra, Gujarat, Karnataka and Tamil Nadu.

Data accessed by TOI showed that West Bengal is among a handful of non-industrialised consuming states, which has not fared well during the first four months of the current financial year, when overall GST collections rose 9% to Rs 3.56 lakh crore. Among the major laggards was Delhi, which saw a 2% decline in mop-up, which was estimated at Rs 12,700 crore during April-July 2019, compared to a little under Rs 13,000 crore a year ago.

At the top of the heap are the states in the North East, led by Nagaland (39%), Arunachal Pradesh read more »

09.08.2019

DEADLINE ON AUG 31 - Only 20% of GST returns for FY18 filed.

New Delhi: Nearly a year after the due date, only around a fifth of the goods and services tax (GST) payers have filed their annual returns for 2017-18, despite the deadline being extended on several occasions.

The poor response has prompted Central Board of Indirect Taxes and Customs chairman Pranab K Das to dash off letters to all top officers across the country, instructing them to initiate outreach programmes as the latest deadline is on August 31.

Out of an estimated 90 lakh taxpayers who have to file GSTR-9, GSTR-9A and GSTR-9C forms, 19.3 lakh had filed the returns by August 3, although officials said that there has been some pick-up in recent days. “There was a delay in putting in place the utilities (to file the returns) and some clarity was needed. It is going up but not at the read more »

02.08.2019

GST kitty grows in July despite drop in auto sales.

New Delhi: Goods and services tax (GST) collections seem to have held firm despite a steep fall in auto sales and signs of lower demand in some of the other sectors.

The gross GST revenue in July was estimated at Rs 1.02 lakh crore compared to Rs 96,823 crore a year ago, and just a shade under Rs 1 lakh crore in June 2019.

The numbers came as a surprise even for a section of the government, which was expecting a muted mop-up due to the slowdown.

“Given the overall situation, Rs 1 lakh crore is fine. The challenge is to take it to the next level. Tools such as data analytics, the new returns, and e-invoicing will certainly help,” said Pratik Jain, who is indirect tax partner at PwC.

Finance ministry data showed that read more »

31.07.2019

`PRONE TO ITC FRAUDS’ - CAG points to gaps in GST system.

New Delhi: In its first review of the performance of the goods and services tax (GST), the Comptroller and Auditor General (CAG) on Tuesday pointed to several gaps in the new regime and said even after two years, system-validated input tax credit (ITC) through “invoice-matching” was not in place and a non-intrusive e-tax system remained elusive.

“The complexity of return mechanism and the technical glitches resulted in rollback of invoice-matching, rendering the system prone to ITC frauds. Without invoice-matching and autogeneration of refunds, assessments, etc on the whole, the envisaged GST tax compliance system is non-functional,” the CAG said.

The audit pointed out vulnerability of the system to fraudulent ITC claims. It found the system allowed unrealistic and erroneous claim of ITC of IGST by one taxpayer, representing 79% of total ITC claim by all taxpayers for a month, thus exposing read more »

28.07.2019

Car manufacturers hail GST cut on EVs - New Rates To Be Applicable From August.

New Delhi: As part of the government’s push towards green modes of transport, the GST Council meeting on Saturday also exempted hiring of electric buses with a capacity of more than 12 passengers by local authorities. The slashed rates will be applicable from August, and vehicle companies said that retail prices of two-wheelers and cars will fall accordingly as the tax benefits kick in.

In her maiden Budget speech, finance minister Nirmala Sitharaman had highlighted the government’s aim to leapfrog and envision India as a global hub of manufacturing of electric vehicles. “The inclusion of solar storage batteries and charging infrastructure in the above scheme will boost our efforts,” Sitharaman had said in her speech.

“It certainly is a very good move for the adoption and viability of electrics, and reinforces the government’s thrust on cleaner vehicles,” Pawan Goenka, managing director read more »

28.07.2019

Another push for EVs: GST cut, will be cheaper by up to Rs.1.5L - Widens Tax Rate Gap With Petrol, Diesel Vehicles.

New Delhi: Electric cars will get cheaper by between Rs 60,000 and Rs 1.5 lakh, while two-wheeler prices will come down by up to Rs 8,000. The government, making a strong push for green modes of transport, on Saturday slashed the GST rate on the cleaner vehicles from 12% to the lowest slab of 5%.

The move is in line with the Modi government’s increased efforts to push sustainable mobility and tackle pollution across the country by discouraging purchase of petrol and diesel vehicles. In fact, it has offered incentives to those buying electric ones.

The government has unveiled a string of concessions to popularise the use of electric vehicles even as the strong push has attracted criticism from the traditional auto industry which has been witnessing a sharp demand slowdown. The Centre believes the auto industry will see the utility read more »

23.07.2019

SOP FOR BELOW Rs.20L TURNOVER - Flat maintenance charges of over Rs.7,500 to incur 18% GST.

New Delhi: Apartment owners will have to pay 18% GST if their maintenance charges paid to the resident welfare association (RWA) exceed Rs 7,500 per month, a finance ministry clarification said on Monday.

“Prior to January 25, 2018, the exemption was available if the charges or share of contribution did not exceed Rs 5,000 per month per member. The limit was increased to Rs 7,500 per month per member with effect from January 25,” the ministry said.

It said in case the charges exceed Rs 7,500 per month per member, the entire amount is taxable. “For example, if the maintenance charges are Rs 9,000 per month per member, GST at the rate of 18% shall be payable on the entire amount of

Rs 9,000 and not on Rs 1,500 (Rs 9,000-Rs 7,500),” the ministry said in a clarification read more »

22.07.2019

GST Council to decide on tax cut on EVs this week.

New Delhi: The GST Council, chaired by finance minister Nirmala Sitharaman, will meet on July 25 and decide on lowering tax rates for electric vehicles, officials said.

The 36th meeting of the Council, which will happen through video conferencing, is also likely to decide the valuation of goods and services in solar power generating systems and wind turbine projects for the purposes of levying GST. The Council, which has state finance ministers as members, in its meeting last month, had referred the issue relating to GST concessions on electric vehicle and chargers and hiring of e-vehicles, to an officers committee.

The recommendations of the committee is likely to be placed before the Council on July 25, officials said. To push domestic manufacturing of e-vehicles, the Centre proposed to the Council to slash GST rates to 5% from 12%. GST rate for read more »

06.07.2019

Budget 2019 Highlights: Super-rich demonetised, tax sops for EVs, affordable housing.

Modi government's first Budget comes at a time when the economy is showing signs of ?slowdown.

?After a pre-election, populist Budget in February, the Modi government presented a Union Budget that aims to boost investment at a time when the economy is showing signs of slowdown. Taking a pragmatic approach, Finance Minister Nirmala Sitharaman announced no changes in personal income tax rates but levied additional surcharge on the super rich. She also sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.

Among key announcements, Sitharaman said digital payments will get cheaper, govt will launch an ATM-like One Nation One Card for pan-India travel and a new model rental laws will be unveiled to boost affordable housing.

These are all the key Highlights from the Finance Minister's speech:

read more »

04.07.2019

Arcade game in a mall attracts 28% GST and go-karting 18%.

Mumbai: If you enjoy speed driving, albeit in a gaming zone at your neighbouring mall, you will continue to bear the higher GST rate of 28%. In an order made public recently, the Authority of Advance Ruling (AAR)’s Maharashtra bench distinguished between gaming zones set up in a mall and amusement parks.

The AAR held that gaming zones do not constitute “amusement parks” but are “amusement facilities”. Thus, the benefit of a reduction in GST rate from 28% to 18% following a notification issued in January 2018 will not apply. In other words, if you are go-karting in an amusement park, rather than speed driving in a mall, the GST rate applicable will be lower at 18%.

Sunil Gabhawalla, chartered accountant and indirect tax expert, says: “Matters of interpretation do arise in the GST realm, but to a lesser extent. The AAR is 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