Systematic Approach to GST

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- Foreword iii - Preface to Third Edition xiii - Preface to Second Edition xv - Preface to First Edition xvii - GST Compliance Calendar xix - Major Policy Initiatives at a Glance xxi - Arrangement of Sections (The Central Goods & Services Tax Act, 2017) xxv - The Integrated Goods & Services Tax Act, 2017 xxx - The Goods & Services Tax (Compensation to States) Act, 2017 xxxi - The Central Goods & Services Tax Rules, 2017 xxxii - Articles of Constitutions of India xxxiii - 1. Basic Concepts 1 - 1.1 Preamble 1 - 1.2 Extent and Commencement 1 - 1.3 Introduction to GST 1 - 1.4 Constitutional Provision 2 - 1.5 Power to Levy 2 - 1.6 GST Acts & Rules 4 - 1.7 Rate of GST 5 - 1.8 Indirect Taxes Subsumed & not Subsumed into GST 6 - 1.9 Concept of GST 7 - 2. Definitions 9 - 3. Administration 17 - 3.1 Officers under CGST Act [Section 3] 17 - 3.2 Appointment of Officers [Section 4] 17 - 3.3 Powers of Officers [Section 5] 17 - 3.4 Authorization of Officers of State Tax or Union Territory Tax as Proper Officer - in Certain Circumstances [Section 6] 18 - 4. Supply Under GST 19 - 4.1 Meaning & Scope of Supply 19 - 4.2 Inter/Intra State Supply 20 - 4.3 Taxable Supply [Section 2(108)] 20 - 4.4 What is Consideration 21 - 4.5 Payment Which are not to be Treated as Consideration 21 - 4.6 Deemed Supply [Section 7(1)(c) Read with Schedule I] 22 - 4.7 Taxability of Supply Made between Related Persons 22 - 4.8 Distinct Persons [Specified under Section 25 of CGST Act, 2017] 23 - 4.9 Supply of Goods/Services between Employer & Employee 23 - 4.10 Difference between Various Types of Supplies under GST 24 - 4.11 Taxability of Composite & Mixed Supply [Section 8] 24 - 4.12 Schedule I, CGST Act 2017 27 - 4.13 Schedule II, CGST Act 2017 29 - 4.14 Schedule III, CGST Act 2017: Exclusion from Supply 30 - 4.15 GST on Certain Specified Supply/Transactions 31 - 5. Charge of Tax 53 - 5.1 Levy & Collection of GST 53 - 5.2 Reverse Charge Mechanism (RCM) under GST [Section 9(3)/9(4)] 54 - 5.3 Supplies Liable to Tax under Reverse Charge 56 - 5.4 Goods Covered under Reverse Charge 58 - 5.5 Services Covered under Reverse Charge 58 - 5.6 Services Taxable in the Hands of Electronic Commerce Operator (ECOM) [Sec. 9(5)] 66 - 6. Composition Levy 67 - 6.1 Meaning of Composition Levy [Section 10] 67 - 6.2 Salient features of Composition Scheme 68 - 6.3 Eligibility for GST Composition Levy 69 - 6.4 Threshold Limit of Composition Levy [Section 10(1)] 70 - 6.5 Rate of Tax under Composition Levy [Rule 7] 71 - 6.6 Filing of Return and Payment of Tax 72 - 6.7 Intimation for Opting Composition Scheme [Rules 3 and 4] 73 - 6.8 Applicability of Composition Scheme 73 - 6.9 Validity and Withdrawal from Composition Scheme 74 - 7. Exemption from GST 75 - 7.1 Statutory Provision 75 - 7.2 List of Exemption Notifications 77 - 7.3 Goods Exempted from GST 79 - 7.4 Services Exempted from GST 79 - 8. Time of Supply 95 - 8.1 Introduction 95 - 8.2 Time of Issue of Invoice 95 - 8.3 Time of Supply of Goods [Section 12] 96 - 8.4 Time of Supply of Services [Section 13] 99 - 8.5 Time of Supply (Goods & Services) When There is Change in Rate of Tax [Section 14] 103 - 9. Value of Supply 105 - 9.1 Introduction 105 - 9.2 Value of Taxable Supply [Section 15] 105 - 9.3 Treatment of Trade/Cash Discounts 109 - 9.4 Determination of Value of Supply (Valuation Rules) 111 - 10. Input Tax Credit 121 - 10.1 What is Input Tax Credit 121 - 10.2 Statutory Provision 122 - 10.3 Eligibility & Conditions for Taking Input Tax Credit [Section 16] 122 - 10.4 Restrictions on Availment of ITC 125 - 10.5 Time Limit for Availing Input Tax Credit (ITC) [Section 16(4)] 125 - 10.6 Apportionment of Credit & Blocked Credit [Section 17] 126 - 10.7 Credit in Special Circumstances [Section 18] 130 - 10.8 Input Tax Credit on Goods Sent for Job Work [Section 19] 131 - 10.9 Manner of Distribution of Credit by Input Service Distributors (ISD) [Section 20] 132 - 10.10 Recovery of Credit Distributed in Excess [Section 21] 133 - 10.11 Order of Utilisation of ITC 133 - 11. Registration 137 - 11.1 Statutory Provision 137 - 11.2 Threshold Limit for Registration under GST 138 - 11.3 Need and Advantages of Registration 139 - 11.4 Format of GSTIN 140 - 11.5 Persons Liable for Registration [Section 22] 140 - 11.6 Persons not Liable for Registration [Section 23] 141 - 11.7 Compulsory Registration in Certain Cases [Section 24] 142 - 11.8 Procedure of Registration [Section 25] 143 - 11.9 Suo Moto Registration [Rule 16] 150 - 11.10 Display of GSTIN on Name Board [Rule 18] 150 - 11.11 Amendment of Certificate of Registration [Section 28 Read with Rule 19] 150 - 11.12 Cancellation or Suspension of Registration [Section 29] 151 - 11.13 Revocation of Cancellation of Registration [Section 30] 153 - 12. Tax Invoice, Credit and Debit Notes 155 - 12.1 Statutory Provisions 155 - 12.2 Tax Invoice [Section 31] 155 - 12.3 Bill of Supply 156 - 12.4 Supplier Permitted to Issue any Document Other than Tax Invoice 157 - 12.5 Time of Issue of Tax Invoice [Section 31] 158 - 12.6 Electronic Invoice (E-Invoice) [Rule 48(4)] 163 - 12.7 HSN/SAC Code Required on Tax Invoice [Rule 46] 165 - 12.8 Prohibition of Unauthorised Collection of Tax [Section 32] 168 - 12.9 Amount of Tax to be Indicated in Tax Invoice & Other Documents [Section 33] 168 - 12.10 Credit and Debit Notes [Section 34] 168 - 13. Accounts and Records, E-Way Bill 171 - 13.1 Statutory Provisions 171 - 13.2 Person Required to Maintain Accounts & Records [Section 35] 171 - 13.3 Audit of Accounts [Section 35(5)] 173 - 13.4 Period of Retention of Accounts [Section 36] 174 - 13.5 Electronic Way Bill (E-Way Bill) [Rule 138] 174 - 14. Returns 183 - 14.1 Return Framework 183 - 14.2 Furnishing Details of Outward Supply [Section 37] 185 - 14.3 Communication of Details of Inward Supplies and Input Tax Credit [Section 38] 189 - 14.4 Furnishing of Return [Section 39] 191 - 14.5 Form GSTR-3B [Section 39, Rule 61(1) and 61A of CGST Rules] 192 - 14.6 Reversal of Ineligible ITC 193 - 14.7 Summary of GST Return & their Due Dates 195 - 14.8 First Return [Section 40] 197 - 14.9 Annual Return [Section 44] 199 - 14.10 Final Return [Section 45] 202 - 14.11 Notice to Return Defaulter [Section 46] 202 - 14.12 Levy of Late Fee [Section 47] 202 - 14.13 Goods & Services Tax Practitioner [Section 48] 204 - 15. Payment of Tax 207 - 15.1 Statutory Provision 207 - 15.2 Type of Tax Register/Ledger [Section 49] 207 - 15.3 Procedure of Payment of Tax [Section 9(3) & 9(4)] 211 - 15.4 Procedure of Payment of Tax 211 - 15.5 Interest on Delayed Payment of Tax [Section 50] 212 - 15.6 TDS Provision under GST [Section 51] 214 - 15.7 Tax Collection at Source (TCS) [Section 52] 217 - 15.8 Transfer of Input Tax Credit [Section 53] 219 - 15.9 Tax Wrongly Collected & Paid to Central Government or State Government [Section 77] 219 - 15.10 Payment of Tax and Other Amount in Installments [Section 80] 220 - 16. Refund Mechanism Under GST 221 - 16.1 Statutory Provision 221 - 16.2 Types of Refund under GST 222 - 16.3 Refund in Case of Deemed Exports 222 - 16.4 Refund of Un-utilised Input Tax Credit (ITC) 222 - 16.5 Claim of GST Deposited on Advance Received but Subsequently Refunded to - the Buyer due to Cancellation of Contract or Non-supply of Goods or Services 224 - 16.6 When Refund not Available 225 - 16.7 Time Limi