Daily Archives: August 17, 2017

GST ITC on Work-in-Progress : Issues and suggestions

Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 3. Availment of credit of input tax on Work-in-Progress Section 18(1) of CGST Act, 2017 provides that Subject to such conditions and restrictions as may be prescribed- (a) A person who has applied for registration under the Act within thirty days from… Read More »

Category: GST

GST ITC in case of works contract services : Issues and Suggestions

Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 2. Availability of ITC in case of works contract services Section 17(5)(c) of the CGST Act, 2017 provides that notwithstanding anything contained in sub-section (1) of section 16 and subsection (1) of section 18, input tax credit shall not be available in… Read More »

Category: GST

GST on Construction portion completed prior to Sale : Issues and Suggestions

Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India Suggestions on Construction Sector 1. Taxability of Construction portion completed prior to Sale Entry 5(b) of Schedule II read with Section 7 of CGST Act, 2017 provides that construction of a complex, building, civil structure or a part thereof, including a complex… Read More »

Category: GST

Correct Nature of Supply under IGST : ICAI Suggestion

Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 52. Nature of Supply under IGST – Correct nomenclature to be used Section 7(1) & (2) of the IGST Act, 2017 provides that subject to the provisions of section 10, supply of goods, where the location of the supplier and the place of… Read More »

Category: GST

Mobile App MyFASTag and FASTag Partner launched by NHAI

NHAI launches mobile App MyFASTag and FASTag Partner  Apps will facilitate the availability of FASTags for Electronic Toll Collection  National Highways Authority of India launched two mobile Apps – MyFASTag and FASTag Partner in New Delhi today, to facilitate the availability of FASTags for Electronic Toll Collection.  Speaking on the occasion the NHAI Chairman Shri… Read More »

Exchange Rate of Foreign Currency w.e.f 18th August 2017

Exchange Rate of Foreign Currency Relating To Imported and Export Goods Notified In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs(CBEC) No.75/2017-CUSTOMS (N.T.), dated  3rd August, 2017, except as respects things done or omitted to be done… Read More »

Schedule III Gujarat GST Act 2017 : Activities or transactions which shall be treated neither as a supply of goods nor a supply of services

Schedule III Gujarat GST Act 2017 ( Schedule III Gujarat GST Act 2017 explains Activities or transactions which shall be treated neither as a supply of goods nor a supply of services  )  SCHEDULE III (See section 7(2)(a))   ACTIVITIES OR TRANSACTIONS WHICH SHALL BE TREATED NEITHER AS A SUPPLY OF GOODS NOR A SUPPLY OF SERVICES 1. Services… Read More »

Schedule II Gujarat GST Act 2017 : Activities to be treated as supply of goods or supply of services

Schedule II Gujarat GST Act 2017 ( Schedule II Gujarat GST Act 2017 explains Activities to be treated as supply of goods or supply of services  )  SCHEDULE II (See section 7(1)(d)) ACTIVITIES TO BE TREATED AS SUPPLY OF GOODS OR SUPPLY OF SERVICES 1. Transfer (a) any transfer of the title in goods is a supply of goods;… Read More »

Schedule I Gujarat GST Act 2017 : Activities to be treated as supply even if made without consideration

Schedule I Gujarat GST Act 2017 ( Schedule I Gujarat GST Act 2017 explains Activities to be treated as supply even if made without consideration )  SCHEDULE I (See section 7(1)(c)) ACTIVITIES TO BE TREATED AS SUPPLY EVEN IF MADE WITHOUT CONSIDERATION 1. Permanent transfer or disposal of business assets where input tax credit has been availed on such… Read More »

Section 174 Gujarat GST Act 2017 : Savings

Section 174 Gujarat GST Act 2017 ( Section 174 Gujarat GST Act 2017 explains Savings and is covered in CHAPTER XXI MISCELLANEOUS   )  Savings 174. (1) The repeal of the Acts specified in section shall not— (a) revive anything not in force or existing at the time of such amendment or repeal; or (b) affect the previous operation of the amended… Read More »

Section 173 Gujarat GST Act 2017 : Repeal

Section 173 Gujarat GST Act 2017 ( Section 173 Gujarat GST Act 2017 explains Repeal  and is covered in CHAPTER XXI MISCELLANEOUS   )  Repeal 173. (1) Save as otherwise provided in this Act, on and from the date of commencement of this Act,- (i) the Gujarat Tax on Entry of Specified Goods into Local Areas Act, 2001 (Guj. 22 of 2001);… Read More »

Section 169 Gujarat GST Act 2017 : Service of notice in certain circumstances

Section 169 Gujarat GST Act 2017 ( Section 169 Gujarat GST Act 2017 explains Service of notice in certain circumstances and is covered in CHAPTER XXI MISCELLANEOUS   )  Service of notice in certain circumstances 169. (1) Any decision, order, summons, notice or other communication under this Act or the rules made thereunder shall be served by any one of the following… Read More »

Section 168 Gujarat GST Act 2017 : Power to issue instructions or directions

Section 168 Gujarat GST Act 2017 ( Section 168 Gujarat GST Act 2017 explains Power to issue instructions or directions and is covered in CHAPTER XXI MISCELLANEOUS   )  Power to issue instructions or directions 168. The Commissioner may, if he considers it necessary or expedient so to do for the purpose of uniformity in the implementation of this Act, issue such… Read More »

Section 167 Gujarat GST Act 2017 : Delegation of powers

Section 167 Gujarat GST Act 2017 ( Section 167 Gujarat GST Act 2017 explains Delegation of powers and is covered in CHAPTER XXI MISCELLANEOUS   )  Delegation of powers 167. The Commissioner may, by notification, direct that subject to such conditions, if any, as may be specified in the notification, any power exercisable by any authority or officer under this Act may… Read More »

Section 166 Gujarat GST Act 2017 : Laying of rules, regulations and notifications

Section 166 Gujarat GST Act 2017 ( Section 166 Gujarat GST Act 2017 explains Laying of rules, regulations and notifications and is covered in CHAPTER XXI MISCELLANEOUS   )  Laying of rules, regulations and notifications 166. Every rule made by the Government, every regulation made by the Government and every notification issued by the Government under this Act, shall be laid, as… Read More »

Section 165 Gujarat GST Act 2017 : Power to make regulations

Section 165 Gujarat GST Act 2017 ( Section 165 Gujarat GST Act 2017 explains Power to make regulations and is covered in CHAPTER XXI MISCELLANEOUS   )  Power to make regulations 165. The Government may, by notification, make regulations consistent with this Act and the rules made thereunder to carry out the provisions of this Act. Gujarat GST Act 2017 Gujarat GST… Read More »

Section 164 Gujarat GST Act 2017 : Power of Government to make rules

Section 164 Gujarat GST Act 2017 ( Section 164 Gujarat GST Act 2017 explains Power of Government to make rules and is covered in CHAPTER XXI MISCELLANEOUS   )   Power of Government to make rules 164. (1) The Government may, on the recommendations of the Council, by notification, make rules for carrying out.the provisions of this Act. (2) Without prejudice to the… Read More »

Section 161 Gujarat GST Act 2017 : Rectification of errors apparent on the face of record

Section 161 Gujarat GST Act 2017 ( Section 161 Gujarat GST Act 2017 explains Rectification of errors apparent on the face of record and is covered in CHAPTER XXI MISCELLANEOUS   )  Rectification of errors apparent on the face of record 161. Without prejudice to the provisions of section 160, and notwithstanding anything contained in any other provisions of this Act, any… Read More »

Section 160 Gujarat GST Act 2017 : Assessment proceedings, etc. not to be invalid on certain grounds

Section 160 Gujarat GST Act 2017 ( Section 160 Gujarat GST Act 2017 explains Assessment proceedings, etc. not to be invalid on certain grounds and is covered in CHAPTER XXI MISCELLANEOUS   ) Assessment proceedings, etc. not to be invalid on certain grounds 160. (1) No assessment, re-assessment, adjudication, review, revision, appeal, rectification, notice, summons or other proceedings done, accepted, made, issued,… Read More »

Section 159 Gujarat GST Act 2017 : Publication of information in respect of persons in certain cases

Section 159 Gujarat GST Act 2017 ( Section 159 Gujarat GST Act 2017 explains Publication of information in respect of persons in certain cases and is covered in CHAPTER XXI MISCELLANEOUS   ) Publication of information in respect of persons in certain cases 159. (1) If the Commissioner, or any other officer authorised by him in this behalf, is of the opinion… Read More »

Section 158 Gujarat GST Act 2017 : Disclosure of information by a public servant

Section 158 Gujarat GST Act 2017 ( Section 158 Gujarat GST Act 2017 explains Disclosure of information by a public servant and is covered in CHAPTER XXI MISCELLANEOUS   ) Disclosure of information by a public servant 158. (1) All particulars contained in any statement made, return furnished or accounts or documents produced in accordance with this Act, or in any record… Read More »

Section 157 Gujarat GST Act 2017 : Protection of action under this Act

Section 157 Gujarat GST Act 2017 ( Section 157 Gujarat GST Act 2017 explains Protection of action under this Act and is covered in CHAPTER XXI MISCELLANEOUS   ) Protection of action under this Act 157. (1) No suit, prosecution or other legal proceedings shall lie against the President, State President, Members, officers or other employees of the Appellate Tribunal or any… Read More »

Section 156 Gujarat GST Act 2017 : Persons deemed to be public servants

Section 156 Gujarat GST Act 2017 ( Section 156 Gujarat GST Act 2017 explains Persons deemed to be public servants and is covered in CHAPTER XXI MISCELLANEOUS   ) Persons deemed to be public servants 156. All persons discharging functions under this Act shall be deemed to be public servants within the meaning of section 21 of the Indian Penal Code. Gujarat… Read More »

Section 153 Gujarat GST Act 2017 : Taking assistance from an expert

Section 153 Gujarat GST Act 2017 ( Section 153 Gujarat GST Act 2017 explains Taking assistance from an expert and is covered in CHAPTER XXI MISCELLANEOUS   ) Taking assistance from an expert 153. Any officer not below the rank of Assistant Commissioner may, having regard to the nature and complexity of the case and the interest of revenue, take assistance of… Read More »

Section 152 Gujarat GST Act 2017 : Bar on disclosure of information

Section 152 Gujarat GST Act 2017 ( Section 152 Gujarat GST Act 2017 explains Bar on disclosure of information and is covered in CHAPTER XXI MISCELLANEOUS   ) Bar on disclosure of information 152. (1) No information of any individual return or part thereof with respect to any matter given for the purposes of section 150 or section 151 shall, without the… Read More »

Section 150 Gujarat GST Act 2017 : Obligation to furnish information return

Section 150 Gujarat GST Act 2017 ( Section 150 Gujarat GST Act 2017 explains Obligation to furnish information return and is covered in CHAPTER XXI MISCELLANEOUS   ) Obligation to furnish information return 150. (1) Any person, being— (a) a taxable person; or (b) a local authority or other public body or association; or (c) any authority of the State Government responsible… Read More »

Section 149 Gujarat GST Act 2017 : Goods and services tax compliance rating

Section 149 Gujarat GST Act 2017 ( Section 149 Gujarat GST Act 2017 explains Goods and services tax compliance rating and is covered in CHAPTER XXI MISCELLANEOUS   ) Goods and services tax compliance rating 149. (1) Every registered person may be assigned a goods and services tax compliance rating score by the Government based on his record of compliance with the… Read More »

Section 148 Gujarat GST Act 2017 : Special procedure for certain processes

Section 148 Gujarat GST Act 2017 ( Section 148 Gujarat GST Act 2017 explains Special procedure for certain processes and is covered in CHAPTER XXI MISCELLANEOUS   ) Special procedure for certain processes 148. The Government may, on the recommendations of the Council, and subject to such conditions and safeguards as may be prescribed, notify certain classes of registered persons, and the… Read More »

Section 147 Gujarat GST Act 2017 : Deemed Exports

Section 147 Gujarat GST Act 2017 ( Section 147  Gujarat GST Act 2017 explains  Deemed Exports and is covered in CHAPTER XXI MISCELLANEOUS   )   Deemed Exports 147. The Government may, on the recommendations of the Council, notify certain supplies of goods as “deemed exports”, where goods supplied do not leave India, and payment for such supplies is received either in… Read More »

Section 146 Gujarat GST Act 2017 : Common Portal

Section 146 Gujarat GST Act 2017 ( Section 146  Gujarat GST Act 2017 explains Common Portal and is covered in CHAPTER XXI MISCELLANEOUS   ) Common Portal 146. The Government may, on the recommendations of the Council, notify the Common Goods and Services Tax Electronic Portal for facilitating registration, payment of tax, furnishing of returns, computation and settlement of integrated tax,… Read More »

Section 145 Gujarat GST Act 2017 : Admissibility of micro films, facsimile copies of documents and computer printouts as documents and evidence

Section 145 Gujarat GST Act 2017 ( Section 145  Gujarat GST Act 2017 explains Admissibility of micro films, facsimile copies of documents and computer printouts as documents and evidence and is covered in CHAPTER XXI MISCELLANEOUS   ) Admissibility of micro films, facsimile copies of documents and computer printouts as documents and evidence 145. (1) Notwithstanding anything contained in any other… Read More »

Section 143 Gujarat GST Act 2017 : Job-work procedure

Section 143 Gujarat GST Act 2017 ( Section 143  Gujarat GST Act 2017 explains Job-work procedure and is covered in CHAPTER XXI MISCELLANEOUS   ) Job-work procedure 143. (1) A registered person (hereafter in this section referred to as the “principal”) may, under intimation and subject to such conditions as may be prescribed, send any inputs or capital goods, without payment… Read More »

Section 142 Gujarat GST Act 2017 : Miscellaneous transitional provisions

Section 142 Gujarat GST Act 2017 ( Section 142  Gujarat GST Act 2017 explains Miscellaneous transitional provisions and is covered in CHAPTER XX TRANSITIONAL PROVISIONS  ) Miscellaneous transitional provisions 142. (1) Where any goods on which tax, if any, had been paid under the existing law at the time of sale thereof, not being earlier than six months prior to… Read More »

Section 141 Gujarat GST Act 2017 : Transfitional provisions relating job-work

Section 141 Gujarat GST Act 2017 ( Section 141  Gujarat GST Act 2017 explains Transfitional provisions relating job-work and is covered in CHAPTER XX TRANSITIONAL PROVISIONS  ) Transfitional provisions relating job-work 141. (1) Where any inputs received at a place of business had been despatched as such or despatched after being partially processed to a job-worker for further processing, testing,… Read More »

Section 140 Gujarat GST Act 2017 : Transitional arrangements for input tax credit

Section 140 Gujarat GST Act 2017 ( Section 140  Gujarat GST Act 2017 explains Transitional arrangements for input tax credit and is covered in CHAPTER XX TRANSITIONAL PROVISIONS  ) Transitional arrangements for input tax credit 140. (1) A registered person, other than a person opting to pay tax under section 10, shall be entitled to take, in his electronic credit… Read More »

Section 139 Gujarat GST Act 2017 : Migration of existing taxpayers

Section 139 Gujarat GST Act 2017 ( Section 139  Gujarat GST Act 2017 explains Migration of existing taxpayers and is covered in CHAPTER XX TRANSITIONAL PROVISIONS  ) Migration of existing taxpayers 139. (1) On and from the appointed day, every person registered under any of the existing laws and having a valid Permanent Account Number shall be issued a certificate… Read More »

Section 136 Gujarat GST Act 2017 : Relevancy of statements under certain circumstances

Section 136 Gujarat GST Act 2017 ( Section 136 Gujarat GST Act 2017 explains Relevancy of statements under certain circumstances and is covered in CHAPTER XIX OFFENCES AND PENALTIES ) Relevancy of statements under certain circumstances 136. A statement made and signed by a person on appearance in response to any summons issued under section 70 during the course of any… Read More »

Section 135 Gujarat GST Act 2017 : Presumption of culpable mental state

Section 135 Gujarat GST Act 2017 ( Section 135 Gujarat GST Act 2017 explains Presumption of culpable mental state and is covered in CHAPTER XIX OFFENCES AND PENALTIES ) Presumption of culpable mental state 135. In any prosecution for an offence under this Act which requires a culpable mental state on the part of the accused, the court shall presume the… Read More »