Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India
15. Deferment of levy till Time of Supply
Section 12(1) & Section 13(1) of CGST Act provide that liability to pay CGST/ SGST shall arise at the time of supply…….
Issue
The language employed appears to indicate that the levy is deferred till the time of supply. It also states that the ‘liability is on the goods’ – this is not the case in GST. Tax levied under section 8 appears to be suspended until time of supply under Section 12 & Section 13.
Suggestion
It is suggested to clarify that the levy under section 9 would be final but the payment of the levy would be deferred under time of supply under section 12. Alternatively, it may be clarified that the levy under section 8 is complete only at the time of supply under Section 12 & Section 13.
Thus,Section 12 & Section 13 may be reworded as “Tax levied under section 9 is payable at the time of supply as determined in terms of the provisions of this section.”
Read ICAI Suggestions on GST Act to Govt : July 2017
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