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

GOODS AND SERVICES TAX (GST)

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

17-09-2017

Transfer fees may bring co-op socs under GST.

Water, Power Charges Not In Tax Ambit

As many as 70,000 co-operative housing societies (CHS) in the state, including 50,000 in the Mumbai Metropolitan Region (MMR), will have to register under the Goods and Services Tax (GST) regime as their annual collections (turnover) are likely to exceed the threshold of Rs 20 lakh. This number was confirmed by senior co-operative officials.

In many instances, transfer fees, which are charged by the CHS and paid by incoming and outgoing members when a flat in the CHS is sold, contribute significantly towards a society's annual collection.

While the model bylaws under the Maharashtra Cooperative Societies Act have placed a limit of Rs 25,000 on transfer fees, in reality the fees run into a lakh or more per transfer. A total of 50,000 cooperative housing societies (CHS) in Mumbai Metropolitan read more »

16-09-2017

GST: Pharma sales growth sluggish at 2.4% in Aug.

The organised pharma retail market was impacted in August with the market registering a sluggish growth rate of 2.4% in the aftermath of the implementation of the GST in July .Though sales in August showed a slight recovery over the previous month, which was in negative territory at -2.4%, analysts say the slump may well continue over the next couple of months.

A survey conducted in August by IT-enabled healthcare service provider QuintilesIMS says, according to chemists and stockists, the supply chain has not seen any improvement after GST. Also, their business was impacted due to GST rollout, with teething problems expected to be sorted out over the next two months.

A majority of distributors and stockists have upgraded their software, while for chemists it's still work in progress. The poor preparedness in terms of upgrading their system in line with read more »

16-09-2017

High value tax credit claims under scanner.

The government is closely monitoring the “big fish”, who are claiming transitional tax credit after the launch of the GST. Armed with information that some elements were trying to “misuse” the window for transitional credit, authorities will closely scrutinise claims of Rs 50-60 crore and more, sources said. The Central Board of Excise and Customs (CBEC) has also written to the chief commissioners to verify claims of more than Rs 1crore in a “time-bound manner”.

Sources said authorities have to be careful where the claims are large. The department was also avoiding disputes as this facility was a temporary one, the sources added.

“For many, jurisdictions of Rs 1 crore is a big amount but our focus is on large claims,” the sources said, adding that there won't be any harassment. They said some businesses might try and use old invoices read more »

01-09-2017

GDP growth at 3-yr low of 5.7% in Apr-June as GST, DeMon bite.

Jaitley Vows Measures To Boost Economy

New Delhi: The economy lost steam in the April-June quarter, slowing to a three-year low as the impact of destocking by companies ahead of the rollout of the Goods & Services Tax (GST) and lingering effects of note ban hurt growth.

Data released by the Central Statistics Office on Thursday showed the economy grew 5.7% in April-June, the first quarter of the current fiscal, slower than the previous quarter's 6.1% growth and lower than the 7.9% expansion posted in the first quarter of 2016-17. The June quarter growth is below China's 6.9% expansion in the April-June quarter and puts pressure on policymakers to unveil measures to revive the economy.

“Slowdown in GDP growth in the first quarter is a matter of concern. In coming quarters we need to work more on read more »

31-08-2017

Cess hike may push big car prices beyond pre-GST levels.

Bigger cars and larger SUVs are expected to get more expensive with the government recommending an ordinance to increase the cess on these vehicles.

The government levies 28% GST and 15% cess, resulting in a total levy of 43% on large cars. Armed with the ordinance, the GST Council, consisting of Union and state finance ministers, can increase the cess to 25%.

Finance minister Arun Jaitley said the GST Council would decide the extent of increase and the vehicle segments facing higher cess.

TOI was the first to report on a possible hike on August 5.

It has been initiated at the behest of states that complained ab out price of so-called luxury vehicles coming down after the implementation of the new regime. But the decision has angered the auto industry as it comes within read more »

31-08-2017

Tax buoyancy raises hopes for reductions in GST rates.

Benefits Of New Regime Should Go To Common Man: FM

A day after finance minister Arun Jaitley said that goods and services tax (GST) collections in the first month had been better than expected, the government on Wednesday indicated that the kitty could swell further as more taxpayers file their returns and small traders who are part of the compensation scheme also paid up, triggering expectations that rates could moderate in the months ahead if receipts continue to be robust.

Jaitley suggested that it would be prudent to wait for sometime to assess a long-term trend. “One has to study the pattern over several months. It has started off well... one has to see how it progresses over the next few months,” Jaitley told reporters after a meeting of the Union Cabinet, where it was decided to raise the cess read more »

31-08-2017

Maha tops in GST earning at Rs 13,400cr.

Maharashtra has topped in GST collections, mopping up more than Rs 13,400 crore in July -the first month after the new tax came into force.

Figures released by the government said the state collected Central GST (CGST) of Rs 3,467 crore, with Rs 4,809 crore coming to its kitty as State GST (SGST). The state has also collected cess of Rs 846 crore, which will be used to plug the shortfall on account of shifting to the new taxation regime.

The GST constitutes CGST and SGST, which are the centre and state's share respectively. Apart from this, there is IGST, which is the tax collected by a state in which good or services are supplied. For example, if Maharashtra supplies an item to Gujarat, the latter will gets its share in the form of Integrated Goods and Services Tax (IGST).

read more »

30-08-2017

GST mop-up in 1st mth beats govt's estimate.

Rs 92,283Cr Collection In July Against Rs 91k Cr Expectations

The government has managed to mop up Rs 92,283 crore from goods and services tax during the first month of the new regime, from a little under 65% of the registered taxpayers. The collections are marginally higher than the internal estimate of Rs 91,000 crore and officials are expecting the kitty to swell since several taxpayers are still filing returns.

The government had rolled out GST from July 1, which subsumed a range of taxes from central excise and service tax to state VAT, central sales tax and luxury and entertainment tax. Although the government had left levies largely unchanged to ensure that prices do not rise significantly, it was expecting higher collections as the base has gone up. There is evidence of a wider base as over 15 crore read more »

24-08-2017

GST cut on contracts for affordable hsg.

No Price Impact For Home Buyers: Experts

The government has reduced GST rate on work contracts for affordable housing to 12% from 18% fixed earlier. But it is unlikely to have any impact on prices of affordable housing for buyers, industry experts said as GST rate for buyers to purchase a finished house remains at 12%.

In a notification issued on Tuesday, the government said GST on composite supply of work contracts for affordable housing up to carpet area of 60 square metres in a project approved by a competent authority will be 12%, including the state GST.

CREDAI president Jaxay Shah said the new rate is only for work contractors. If a developer involves a work contractor for his project, his cost will be reduced by 6%. But in the affordable segment, developers construct projects themselves read more »

23-08-2017

`Car prices to go up on GST cess hike'.

Hyundai India, the country's second-largest carmaker, said vehicle prices will go up substantially as the government hikes tax on auto mobile manufacturers as part of a revision of GST rates. Y K Koo, MD and CEO of the company's local operations, said Hyundai will have to pass on the increased cost as the government moves to hike cess on larger vehicles to 25% from existing 15% (levied over 28% GST rate).

Koo said that the measure is surprising and shocking as it is being proposed in just second month of the GST regime. “We are little confused...and really do not know what exactly is going on.” Companies say they are not aware of what the government means when it says the cess on `luxury vehicles' will be revised. “We are wondering as to what is the definition of luxury, is it meant for any 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


Disclaimer | Updated on
All Rights Reserved ©2005-17.
Customs, Excise and Goods & Services Tax Referencer®
webadmin[at]referencer[dot]in