Opportunity Misc Prov PDF

FAQ : It is a destination based tax on consumption of goods
and services. It is proposed to be levied at all stages right

from manufacture up to final consumption with credit of
taxes paid at previous stages available as setoff. In a
nutshell, only value addition will be taxed and burden of tax
is to be borne by the finalCAconsumer.
01.07.18 Gadia Manish R 2
01.07.18 CA Gadia Manish R 3
Preliminary
Biggest
Boost to the
Economic Fall in prices
economy
Reform
Widening of 1 Nation 1 Ease of doing

tax base Tax? business
GDP expected
Increase in
to increase by Import?
exports?
2%
Increase in Everything Make in

FDI will be online India?
Presumption as to documents in
certain cases - Sec 144
• Documents produced by any person
• has been seized from any person
• has been received from any place outside India
• Under any law
• and such document is tendered by the
prosecution in evidence against him or any
other person who is tried jointly with him,
• Unless contradictory is proved
Admissibility as evidence – Sec 145
• a micro film of a document or the
reproduction of the image or images
embodied in such micro film; or
• a facsimile copy of a document; or
• a statement contained in a document and
included in a printed material produced
by a computer; or
• any information stored electronically in
any device or media, including any hard
copies made of such information,
• without further proof or production of
the original, as evidence of any contents
of the original or of any fact
Common Portal – Sec 146
Registration
Any other
functions as may Payment of Tax
be prescribed
Furnishing of
E way Bill
Returns
Computation and
settlement of IGST

Deemed Export – Sec 147
• As notified by the CG/ SG on the
recommendation of the Council, refer to those
transactions in which the goods supplied do not
leave India, and payment for such supplies is
received either in Indian Rupees or in
convertible foreign exchange if the goods are
manufactured in India.

Notification 48/2017 CT 18th Oct
• Supply of goods by a RTP against Advance
Authrisation
• Supply of capital goods by a RTP against
Export Promotion Capital Goods Authorisation
• Supply of goods by a registered person to
EOU/ STP, etc.
• Supply of gold by a bank or PSU specified in
the notification No. 50/2017-Customs, dated
the 30th June, 2017 (as amended) against
Advance Authorisation
Special procedure for certain
processes – Sec 148
• This section deals with notification of certain classes
of registered persons, who would be required to
follow certain special procedures.
• The Government can notify such persons upon
recommendation of the GST Council. Such notified
persons would be required to follow certain special
procedures inter-alia relating to registration,
returns, tax payment and administration aspects.
• Notification – 40, 66 , 57- 2017 & 17 - 2018 (CT)
have been issued in exercise of powers conferred
by sec. 148
Time of supply of Goods
Issue of Invoice by the
supplier
Earliest of
Last date on which require to
issue invoice with respect of
supply
Earliest of
Receipt of payment by
supplier in respect of supply
Notification 40/2017 CT - 13th Oct
• Applicability:
Registered Person (other than persons registered
under composition scheme) having aggregate
turnover of less than Rs. 1.5 crores in the preceding
financial year/ likely to be less than 1.5 crores in the
year of registration.
• Relaxation provided:
not required to pay tax on advances received
against supply of goods.
• The time of supply of goods shall be the date of
issue of invoice or the last date on which the invoice
is to be issued as per section 31(1)
Notification 66/2017 CT - 15th Nov
• Applicability:
All registered person other than person
registered under composition scheme
• Relaxation provided :
Not required to pay tax on
advances received against supply of goods.
• The time of supply of goods shall be the
date of issue of invoice or the last date on
which the invoice is to be issued as per
section 31(1)
Analysis :Notification 40 & Notification 66
• W.e.f. 13th October, 2017 to
15th November, 2017, this
benefit was available to
suppliers having aggregate
turnover less than Rs. 1.5 crores
only - Notification 40
• Therefore, w.e.f 15th November,
2017 no tax needs to be paid on
advances received by registered
persons against goods supplied,
irrespective of turnover –
Notification 66
Notification Nos.57/2017 CT & 17/2018
• Applicability:
same as notification No. 40 (aggregate turnover of
less than Rs. 1.5 crores )
• Relaxation provided :
quarterly furnishing of FORM GSTR-1 for those
taxpayers
Sl. No. Quarter Time period for furnishing
return – GSTR 1
1 July – September, 2017 31st December, 2017
2 October – December, 2017 15th February, 2018
3 January – March, 2018 30th April, 2018
4 April – July, 2018 31st July, 2018
GST Compliance Rating - 149
• “GST compliance rating” where a dealer is given a rating and any
fall in the rating below a prescribed level will have impact of
blacklisting of a Dealer.
• While making a purchase from the dealer his compliance rating
can be verified and decision of purchase will be dependent on the
rating of selling dealer.
• The ITC on purchase from a blacklisted dealer shall not be
available unless the rating of the dealer is improved to normal and
on the other hand ITC from a non blacklisted is not assured by
Govt. and it mainly depends on tax invoices and payment of due
taxes.
• In case the above dealer file his return and pay due taxes with
interest his rating shall be improved to normal and in that case
reversed ITC can be reclaimed by the buyer.
Trigger points for blacklisting
• Depending on various factors following are the key points for
blacklisting of a dealer:
 Continuous default for 3 months in paying ITC that has been
reversed.
 Continuous default of 3 months or any 3 month-period over
duration of 12 months in uploading outward supply details leading
to reversal of ITC for others.
 Continuous short reporting of outward supply beyond a prescribed
limit of 5% (of total turnover ) for a period of 6 months.
 The profiles for all dealers would be posted in public domain so that
the dealer community is kept aware of the compliance profile of all
registered dealers with whom they may have to deal with during
the course of their business.
Advantage of Black Listing
• It will act as panacea for regulating ITC for buyer. A
proactive buyer can take decision based on the
compliance rating of his seller
• Auto-SMS will be sent to all dealers who have pre-
registered this dealer (black listed now) as their
supplier.
• Blacklisted GSTINs cannot be uploaded in purchase
details and result in denial of ITC
• Once blacklisting is lifted, buyers can avail unclaimed
ITC subject to this dealer uploading outward supplies
details along with payment of tax and interest.
Information Return Sec 150
• a taxable person; or
• a local authority or other public body or
association; or
• VAT or sales tax or State excise duty authority; or
• excise duty or customs duty Authority; or
• an income tax authority; or
• a banking company
• a State Electricity Board or an electricity
distribution or transmission
• the Registrar or Sub-Registrar
Information Return
• ROC; or
• RTO; or
• the Collector referred to in clause (c) of section 3 of the
Right to Fair Compensation and Transparency in Land
Acquisition, Rehabilitation and Resettlement Act, 2013;
or
• Recognised Stock Exchange
• DP
• an officer of the RBI; or
• GSTN; or
• UIN hoder; or
• any other person as may be specified
Information Return
• If Return is defective
• Intimate and give him an
opportunity of rectifying the
defect within a period of 30
days
• Defect not rectified than
treated as not furnished
• Penalty under section 123 Rs.
100+100 per day subject to
maximum 5000+5000
Information Return
• If Return is not furnished
• Serve notice
• Requiring information return within a period
of 90 days from date of service of notice

Power to collect statistics Sec 151
• Commissioner, if he considers
necessary, direct that statistics may be
collected relating to any matter dealt
with by or in connection with this Act.
• Upon such notification being issued,
the Commissioner, or any person
authorized by him in this behalf, may
call upon the concerned persons to
furnish such information or returns, in
such form and manner as may be
prescribed, relating to any matter in
respect of which statistics is to be
collected
Bar on disclosure of Info.
Sec 152
• No information of any
individual given for the purpose
of sec.150 and sec. 151, shall
be published without prior
approval of the concerned
person or his authorized
representative and no such
information shall be used for
the purpose of any proceeding
under the Act.
• Except for the purpose of
prosecution, no person who
is engaged in the collection
of statistics under this Act,
shall be permitted to access
to information return u/s151
• Information pertaining to
person/class of person shall
be published if in the opinion
Commissioner it is desirable
in public interest to publish
such information.
Taking assistance from an expert
Sec 153
• Officer – not below the rank
of AC
• Having regard to nature,
complexity of case,
• Interest of revenue,
• Take assistance of any
expert
• At any stage of scrutiny,
inquiry , investigation or any
other proceeding before
him
Power to take sample Sec 154
• Commissioner / officer
authorized by him
• Where he considers
necessary
• may take possession of
• Samples of goods , from
taxable person
• And provide receipt for the
sample so taken

Section 155
Burden of
proof of
eligibility is
on RTP

Persons deemed to be public
servants Sec 156
• All persons discharging

function under this Act
• Shall be deemed to be public
servants
• Within the meaning of Sec.
21 of the Indian Penal code

Section 21 of Indian Penal Code,
1860
• A person who is in actual possession of the situation
of a public servant is a public servant within the
meaning of the section even if there might be any
legal defect in his right to hold the situation.
• Suspended public servant continues to be a public
servant.

Indian Penal Code, 1860
• Chapter X (covering sec. 172 to 190) of IPC deals with
“Of Contempts of the lawful authority of Public
Servants” i.e. various offences affecting functioning
of public servant and the punishment thereof.
• Absconding to avoid service of

172 summons or other proceeding
• Preventing service of summons
173 or other proceeding, or
preventing publication thereof.
• Non-attendance in obedience
174 to an order from public servant
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• Omission to produce document
175 to public servant by person
legally bound to produce it
• Omission to give notice or
176 information to public servant by
person legally bound to give it.
177 • Furnishing false information.
• Refusing oath or affirmation

178 when duly required by public
servant to make it.
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179 • Refusing to answer public servant
authorized to question
180 • Refusing to sign statement
• False statement on oath or affirmation

181 to public servant or person authorized to
administer an oath or affirmation
• False information, with intent to cause

182 public servant to use his lawful power
to the injury of another person
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• Resistance to the taking of
183 property by the lawful authority
of a public servant
• Obstructing sale of property
184 offered for sale by authority of
public servant
• Illegal purchase or bid for
185 property offered for sale by
authority of public servant
186 • Obstructing public servant in

discharge of public functions

• Omission to assist public
187 servant when bound by law to
give assistance
188 • Disobedience to order duly

promulgated by public servant
189 • Threat of injury to public

servant
• Threat of injury to induce

190 person to refrain from applying
for protection to public servant
Protection against action Sec 157
• No suit, legal proceeding shall lie
against –
• President, State President,
Members, officers or other
employees of the Appellate Tribunal
or any other person authorized by
the said Appellate Tribunal
• for anything which is in good faith
done or intended to be done under
this Act or the rules made
thereunder
Publication of Names Sec 159
• Commissioner, or any other officer
authorized by him in this behalf
• is of the opinion that it is necessary
or expedient in the public interest
• to publish the name of any person
and any other particulars relating to
any proceedings or prosecution
under this Act in respect of such
person
• may cause to be published such
name and particulars in such
manner as it thinks fit.
Assessment proceedings not to be
invalid Sec 160
• assessment, re-assessment, adjudication, review, revision,
appeal, rectification, notice, summons or other proceedings
• shall not be invalid or deemed to be invalid merely by reason of
any mistake, defect or omission
• Provided proceedings are in substance and effect in conformity
with or according to the intents, purposes and requirements of
this Act or any existing law
• The service of any notice, order or communication shall not be
called in question, if such document, has already been acted
upon by the person to whom it is issued or where such service
has not been called in question at or in the earlier proceedings
commenced, continued or finalised pursuant to such notice,
order or communication
Rectification of errors apparent
from record Sec 161
• any authority, who has passed or issued any decision or
order or notice or certificate or any other document,
• may rectify any error which is apparent on the face of
record
• No such rectification shall be done after a period of 6
months
• Period of 6 months shall not apply in cases where the
rectification is purely in the nature of correction of a
clerical or arithmetical error, arising from any accidental
slip or omission
Service of Notice Sec 169
If none of the
Service of Notice above is practicable
• By tendering (Hand • Affixing a copy
Delivery) • On Place of Business or
• Courier/Registered Post/ residence.
Speed Post • On the notice board of
• Authorised Representative issuing officer/authority
• Email
• Making it available on
GSTN
• Publication in local news
paper
Service of Summons by Speed Post
Mirzapur Electrical Industries Ltd. Amidev Agro Care Pvt. Ltd.
V/s CCE., Allahabad V/s U.o.I
[2014 (300) E.L.T. 496 (All.)] [2012 (279) E.L.T. 353 (Bom)]
• Order sent by speed post • Order sent by speed post
• Returned undelivered since factory • Remained undelivered
closed • Held - Section 37C not
• Copy affixed on premises of noticee complied with
• Date of serving taken as date of
• Deemed to be severed on
seeing the order
date of tender or publication
• Held - Section 37C complied • In case of Speed Post, etc.
• Facts would have been different has deemed to received at the
assessee not come to know about period normally taken unless
the affixed order the contrary is proved
Witness require?
• CCE, Kanpur v/s U.P. Enginerring
Corporation [2010 (261) E.L.T. 888 (Tri. -
Del.)]
– Show cause notice affixed in presence of two
witness
– Section 37C complied
• Qualimax Electronics Pvt. Ltd. [2010 (257)
E.L.T. 42 (Del.)]
– Order in Original affixed in presence of two panchas
– Section 37C complied

Rounding of Tax Sec 170
• Tax, interest, penalty,
fine, or any other sum
payable, or refund
• Rounded off to nearest
rupee
• 50 paise or more
increase to one rupee
• Less than 50 paise it
shall be ignored
Anti Profiteering Sec 171
• Any reduction in rate of tax on any supply of
goods or services or
• the benefit of input tax credit
• shall be passed on to the recipient by way of
commensurate reduction in prices

Duty of Authority Rule 127
• to determine whether any reduction in the rate
of tax on any supply of goods or services or the
benefit of input tax credit has been passed on
to the recipient by way of commensurate
reduction in prices
• to identify the registered person who has not

passed on the benefit of reduction in the rate
of tax on supply of goods or services or the
benefit of input tax credit to the recipient by
way of commensurate reduction in prices
To order
• reduction in prices;
• return to the recipient, an amount
equivalent to the amount not passed
along with interest at the rate of 18%
from the date of collection of the higher
amount till the date of the return of such
amount or recovery of the amount not
returned, in case the eligible person does
not claim return of the amount or is not
identifiable, and depositing the same in
the Fund referred to in section 57
• Imposition of penalty
• Cancellation of Registration
Profit is fine, Profiteering is not
• Thus, if a trader is paying,
say, Rs 100 less in the new
tax rate on a certain item,
he has to compulsorily sell
that item for Rs 100
cheaper, so the customer
benefits proportionally.
Failure to do so would mean
the trader is indulging in
‘profiteering’.

Anti Profiteering- MRP Based Goods
In November, the Rate on
these Goods is Reduced to
18%. However the Retailer
still has certain stock which
Transaction value = Rs.70/-
has the GST
MRP ofof Rs.19.60/-
Rs.128/- Paid by
Manufacturer Packed Manufacturer
the Goods Indicating Retailer sells the
MRP of Rs. 128/- In this case the Customer goods at Rs.128/-
is not benefitting from
On 1st July, 2017 Rate Transaction value = Rs.
the Rate reduction in fact
was 28% 100/- Can the
the Retailer is
GST of Rs.28/- Paid by
Government Should
customer.
Retailer Sell at
have Collected Rs.28/-
a Rate below
GST paid by retailer
as Tax from sale of this C
Product =8.40/- [28 – 19.6 the
(ITC)]
MRP??O
S
Now the goods will be sold by the Retailer at U
Rs.128 only, however he is liable to pay GST of M
Rs.19.6 only. (He will actually pay GST of 0[19.6- E
19.6]) R
Anti Profiteering- Restaurants
Thus,2017
On 1st July, in this case the
Rate
was 18% Customer is not
benefitting from the Rate
reduction i.e. the benefit
has not been passed on
Amount charged Rs.100/- plus
to the customer
GST of Rs.18/-
GST paid by Restaurant to However, the

Govt. = 18-3 (ITC) = 15/- restaurant charges Consumer pays Rs.100/- plus
Rs.118 from the GST of Rs.18/-, a total of
Government Should customer thereby Rs.118/-
have Collected Rs.18/- profiting Rs.9.85/-
as GST (118-108.15)
In November, the
Rate is Reduced to
Now the actual cost to the Restaurant is
5% without the
Rs.103/- (100+ITC of Rs.3), & the restaurant is
liable to pay GST of Rs.5.15 only. Therefore total benefit of ITC.
amount to be charged to customer should be
Rs.108.15/-
Anti Profiteering- Transport
• Further, under the earlier law, during
transportation of goods, goods were
checked at the checkpost.
• such checking would result in a delay of
atleast 1-2 days for the goods to reach
destination and thus increasing the cost
of transportation.
• However, as the concept of checkpost
has been done away with post
introduction of GST , there would be no
extra cost on transportation of goods.
• Accordingly, this benefit needs to be
passed on to the customer?
Anti Profiteering- Builder
This Credit was not
Pre GST Period Material Cost:- Eligible to a Builder
Rs. 2000 earlier
Particulars Amount +12.5% Excise = 250
+ 12.5% VAT = 281.25
Sale Value Per Sq. Feet Rs.20,000/-
Total Cost :- 2531.25
Cost :-
The Credit of ST,
Material Rs.2531.25 KKC was Eligible to
Labour Cost:-
Labour Rs.2010 Rs. 2000 a Builder earlier
Hence the Maximum +14% Service Tax = 280
Total Cost Rs.4541.25
Benefit that the Builder
+ 0.5% SBC can
= 10
Post GST Period pass on due to Anti-KKC = 10 Some goods are @
+ 0.5%
profiteering would Total
by:- 2.7%
2300 18% some @ 28%,
Particulars Amount Assuming Avg. Rate of
only. (4541.25-4000/20000)
Material Cost:- 20%. Entire Credit is
Sale Value Per Sq. Feet Rs.20,000/- Rs. 2000 eligible to builder.
Cost :- + 20% GST = 400
Total :- 2400
Material Rs.2000 Labour Cost:-
Labour Rs.2000 Rs. 2000
Entire Credit is + 18% GST = 360
Total Cost Rs.4000
01.07.18 Eligible
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Transitional Provision - Sec 142 (2)(b)
(Credit Note)
• Contract entered prior to appointed date
• Price of goods/ services is revised downward on or
after appointed day,
• The registered person, making such supply shall-
• Issue a credit note to the recipient containing such
particulars as prescribed
• Within 30 days of such downward price revision

• The registered person making such supply will be
allowed to reduce his tax liability only if the
• Recipient of credit note reduces his ITC
corresponding to such reduction of tax liability

Budgetary support under GST regime to units located
in NE and other regions –
F.No.10(1)/2017- DBA-II/NER
 The Government of India was implementing North East Industrial
and Investment Promotion Policy (NEIIPP), 2007 for North Eastern
States including Sikkim and Package for Special Category States for
Jammu & Kashmir, Uttarakhand and Himachal Pradesh to promote
industrialization, benefits of which were excise duty exemption for
first 10 years after commencement of commercial production.
 Upon repeal of the Central Excise duty laws, the Government of
India has withdrawn the said facilities and has decided to pay a
budgetary support equal to the central share of the cash component
of CGST and IGST paid by the affected eligible industrial units. The
support shall be available for the residual period (ten years from
the date of the commercial production).
Coverage of Scheme:
The scheme shall be called Scheme of Budgetary Support under
Goods and Services Tax (GST) Regime to the units located in State of
Jammu & Kashmir, Uttarakhand, Himachal Pradesh and North
Eastern States including Sikkim.
Applicability of scheme:
The Scheme of Budgetary Support under Goods and Services Tax
(GST) Regime applicable only units which were eligible under the
erstwhile Schemes and were in operation through exemption
notifications issued by the Department of Revenue in the Ministry of
Finance.

CRITERIA FOR ELIGIBLE UNIT:
The manufacturer applying for benefit under this scheme
for the first time shall also file the following documents:
a. the copy of the option filed by the manufacturer with
the jurisdictional Deputy Commissioner/ Assistant
Commissioner of Central Excise officer at the relevant
point of time, for availing the exemption notification
issued by the Department of Revenue;
b. document issued by the concerned Director of
Industries evidencing the commencement of
commercial production
c. the copy of last monthly/quarterly return for
production and removal of goods under exemption
notification of the Department of Revenue .
d. An Affidavit-cum-indemnity bond, to be
submitted on one time basis, binding
itself to pay the amount repayable
e. Any other document evidencing the
details required in clause (a) to (c) may
be accepted with the approval of the
Commissioner.
SPECIAL RATE
The provisions relating to facility of
determination of special rate under the
respective exemption notifications would
not apply under this scheme.

The amount of budgetary support under
the scheme for specified goods
manufactured by the eligible unit shall be
sum total of –
 58% of the CGST paid through debit in
the cash ledger account maintained by
the unit in terms of sub-section(1) of
section 49 the Central Goods and
Services Act, 2017 after utilization of ITC
of CGST and IGST.
 29% of the IGST paid through debit in
the cash ledger account maintained by
the unit in terms of section 20 of the
Integrated Goods and Services Act, 2017
after utilization of the IGST and CGST.
ALLIED LAWS
The Sale of Goods Act, 1930
Goods has been defined under the u/s 2(7) of The Sale of
Goods Act, 1930 as follows-
““goods” means every kind of movable property other
than actionable claims and money; and includes stock
and shares, growing crops, grass, and things attached
to or forming part of the land which are agreed to be
severed before sale or under the contract of sale;”

The CGST Act, 2017
Goods has been defined under the u/s 2(52) of The
CGST Act, 2017 as follows-
““goods” means every kind of movable property other
than money and securities but includes actionable
claim, growing crops, grass and things attached to or
forming part of the land which are agreed to be
severed before supply or under a contract of supply;”

Comparison – Definition of Goods
Sale of Goods Act, 1930 CGST Act, 2017

Included Included
 Stocks & Shares  Actionable claims
 Growing crops Growing crops
 Grass & things attached Grass & things attached
to or forming part of land to or forming part of land
Excludes Excludes
 Actionable claims  Money
 Money Securities

General Clauses Act, 1897
• Sec 174 of the CGST Act, 2017 which deals with

repeal of the earlier Acts provides that, the
provisions of sec.174 of the CGST Act will not
prejudice or effect the general application of Sec 6
of the General Clauses Act, 1897
• Sec 6 of the General Clauses Act, 1897, also deals
with the effect of repeal of Acts.
• Thus in case of any conflict between the two Acts,
the General Clauses Act, 1897 would have an
overriding effect over the CGST Act, 2017.

Opportunity for CA Professionals

Opportunity for CA Professionals
Impact Agreement Transaction
Training
analyses advisory structuring
Supply Chain Assistance in Pricing Finance

management software advisory advisory
Basic Due diligence

Transitional
preparation of ITC under Accounting
advisory
for Migration existing law
Anti-
Refund
Profiteering
certificate
certificate
Supply
Input Tax
Valuation
Credit
Consultancy
Place of Time of
Supply Supply
Compliance
Registration
Return
Payment
Outsourcing
ITC Match and mismatch
Due diligence
Audit
Appeal
Reply to
Settlement
SCN
Advance
Assessment
Ruling
Anti
Refund Profiteering
Authority
AC can take
Business Representation assistance
Audit for Tax Payer 153

Audit based on Turnover Sec. 35(5)
Every registered person
A/Cs to be
Prescribed audited by CA/
limit Cost accountant
Turnover
As per sec. 2(6) Aggregate
Turnover means- value of all
taxable supplies, exempt
supplies , export of goods or
Aggregate Turnover services or both & inter- state
of Rs. 2 crore as per supplies of persons having the
same PAN on all India basis -
Rule 80 (3) CGST CT, ST, UT, IT , cess excluded.
Rules, 2017
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Special Audit (Sec. 66)
• Officer – not below the rank of AC
• Having regard to nature, complexity of case,
• Interest of revenue
• & is of the opinion that value not correctly declared,
credit availed not within limits
• With the approval of Commissioner
• Direct such person to get books audited
• by a CA or Cost Accountant
• Irrespective of audit conducted under
any other law for time in force.
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Appearance by authorised representative
(Sec. 116)
• A Chartered Accountant, who holds a certificate of
practice is authorized to appear before an officer
appointed under this Act, or the Appellate Authority or
the Appellate Tribunal as an authorized representative i.e.
on behalf of the assessee.
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Anti-Profiteering
• One of the measures to curb undue profiteering
could be to take a declaration or undertaking from
vendors / suppliers that the due benefits accruing to
them because of GST have been passed on.
• In case of large clients such as public sector
enterprises or banks or large listed companies, there
could even be mechanism of getting verification
done by any external agency / internal auditor etc.
• Alternatively, such vendors or suppliers could be asked
to tender a Chartered Accountant certificate to this
effect.
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CA Certificate requirement
• Chartered Accountant certificate would be required in
case of ITC claim under special circumstances [sec.
18(1)(a) to sec. 18 (1)(d)] on the inputs held in stock or
inputs contained in semi-finished or finished goods
held in stock, or the credit claimed on capital goods.
• A CA certificate would be required in case of transfer
of credit when there is change in constitution of
registered person as per sec. 18(3).
• A CA shall certify the amount of tax to be paid in
respect of credit of input tax under circumstances
mentioned u/s 18(4)
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ITC on Registration
ITC of Inputs held in Stock, semi-finished,
finished goods
Where exempt
supply by RTP
Applied for Applied for Switched from
becomes taxable
registration Voluntary Composition to
supply, ITC of stock
within 30 days of Registration, Normal Levy, ITC of
held and Capital
becoming liable, ITC of stock stock held and
goods exclusively
ITC of stock held held Capital goods
used for such
immediately immediately immediately
exempted supply
preceding the preceding the preceding the date
immediately
date from liable date of from liable to pay
preceding the date
to pay tax registration tax
from which supply
becomes taxable
No Credit after the expiry of 1 year from the date of issue of invoice
for such supply
Manner of Claiming Credit in special
circumstances Rule 40
• Within 30 days to becoming eligible for ITC, file Form GST ITC-01
specifying inputs in stock, semi/finishes goods, CG
– Held on day preceding the date from which liable to pay GST
– Held on day preceding the date of grant of registration (for
voluntary registration)
– Held on day preceding the date from which liable to pay under
normal levy instead of composition
– Held on day preceding the date from which exempt supplies
become taxable
• Form ITC-01 to be certified by practicing CA/Cost Accountant if
claim of CGST, SGST.IGST exceeds 2 lakhs
• ITC claimed shall be verified with GSTR-1 of supplier
Change in the Constitution 18(3)
on account of
sale, merger, demerger, amalgamation, lease or

transfer of the business
With the specific provision for transfer of liabilities
allowed to transfer the unutilised ITC in the

manner prescribed
Rule 41
• Registered Transferor shall file Form GST ITC-02 with
request to transfer unutilized ITC lying in electronic
credit ledger to transferee
• In case of de-merger, ITC to be apportioned in ratio of
value of assets of new units specified in demerger
scheme
• Transferor to submit certificate from practicing CA/CS
that sale/merger/de-merger, etc. done with specific
provision for transfer of liabilities
• Transferee shall accept ITC-02 on common portal
• Inputs and CG transferred to be accounted for by the
transferee in his BOA
• On cancellation of Certificate of Registration u/s 29(5),
a CA shall certify the amount of tax to be paid in
respect of credit of input tax on the day immediately
preceding the date of cancellation.
• A CA certificate would be required for, the eligible units
located in NE and other region which are entitled for
budgetary support on manufacture of specified goods.
CA Gadia Manish R
01.07.18 79
Refund of IGST
Circular 12/2018-
Customs, has been
issued for sanctioning
IGST refund claims
where the records
have not been
transmitted from the
GSTN to DG Systems

IGST Refund where there is no Short-Payment of
Tax in GSTR – 3B
• Custom Policy wing will prepare a list of exporters whose IGST
amount paid as per GSTR 3B is ≥ amount indicated in GSTR 1
for July 2017 to March 2018.
• A confirmatory email shall be sent to such exporters
• Above mentioned exporters shall submit a certificate from CA

before 31st October, 2018 to custom office at port of export.
• A copy of such certificate shall be submitted to Jurisdictional
GST Officer
Non submission of CA Certificate
shall affect future IGST Refunds
01.07.18 CA Gadia Manish Rof Exporter 81
IGST Refund where there is Short-Payment of Tax in
GSTR – 3B Compared to GSTR - 1
Custom Policy wing will Exporters will have
prepare a list of exporters An E-mail shall be sent to make Payment of
whose IGST amount paid as to such exporters for Such Shortfall in
per GSTR 3B is < amount Short-Payment of GST Subsequent GSTR 3-
indicated in GSTR 1 for July B
2017 to March 2018.
If the Aggregate Amount If the Aggregate Amount Proof of Payment

of Refund Claimed is > Rs. of Refund Claimed is ≤ (i.e. Challan + Filed
10 Lacs then Proof of Rs. 10 Lacs the Proof of GSTR 3-B) to be
Payment will have to be Payments have to be submitted to the
Certified by a CA that Self-Certified relevant Customs
payment has been made Officer
An Undertaking that if Wrong A CA Certificate stating

Refund is claimed we shall that Refund has been
pay the same will have to be claimed only to the
furnished extent of IGST Paid.
Refund (Rule 89 of CGST Rules, 2017)
Person claiming File application
refund of any tax, electronically in
interest, penalty, fee FORM GST RFD – 01
or any other amount through common
paid by him portal.
a Certificate in issued by a
Chartered Accountant to the
effect that the incidence of tax,
interest or any other amount Along with the
claimed as refund has not been following
passed on to any other person, in documentary
a case where the amount of evidences in
refund claimed exceeds two lakh Annexures
rupees CA Gadia Manish R
01.07.18 83
Refund
• Refund on Export of supplies under GST
• Refund due to GST rate on inward supplies more
than outward supplies
• Refund of pending refund claim– transition cases
• Claims pending in appeal stage
• CENVAT accumulation- Whether to filed revised
Form ST-3 to claim refund of CENVAT in cash
• Rule 6(3) - Refund of credit notes not adjusted –
no adjustment in GST of credit notes issued in
service tax.
Opinions or views
are like wrist
watches.
Every watch shows
different time from
others.
But every one
believes that their
time is right!

Information contained herein is of a
general nature and is not intended to
CA Gadia Manish R
address the circumstances of any
particular individual or entity. Although we
manish@gmj.co.in
endeavor to provide accurate and timely
information, there can be no guarantee
that such information is accurate as of the
date it is received or that it will continue to
be accurate in the future. No one should
act on such information without
appropriate professional advice after a
thorough examination of particular Ph : 9820537986
situation.

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FAQ : It is a destination based tax on consumption of goods

and services. It is proposed to be levied at all stages right

Widening of 1 Nation 1 Ease of doing

Increase in Everything Make in

01.07.18 CA Gadia Manish R 9

01.07.18 CA Gadia Manish R 10

01.07.18 CA Gadia Manish R 24

01.07.18 CA Gadia Manish R 29

01.07.18 CA Gadia Manish R 30

• All persons discharging

01.07.18 CA Gadia Manish R 31

01.07.18 CA Gadia Manish R 32

• Absconding to avoid service of

177 • Furnishing false information.

• Refusing oath or affirmation

180 • Refusing to sign statement

• False statement on oath or affirmation

• False information, with intent to cause

186 • Obstructing public servant in

01.07.18 CA Gadia Manish R 36

188 • Disobedience to order duly

189 • Threat of injury to public

• Threat of injury to induce

01.07.18 CA Gadia Manish R 44

01.07.18 CA Gadia Manish R 46

• to identify the registered person who has not

01.07.18 CA Gadia Manish R 49

GST paid by Restaurant to However, the

01.07.18 CA Gadia Manish R 54

01.07.18 CA Gadia Manish R 55

01.07.18 CA Gadia Manish R 57

01.07.18 CA Gadia Manish R 59

01.07.18 CA Gadia Manish R 61

01.07.18 CA Gadia Manish R 62

Sale of Goods Act, 1930 CGST Act, 2017

01.07.18 CA Gadia Manish R 63

• Sec 174 of the CGST Act, 2017 which deals with

01.07.18 CA Gadia Manish R 64

01.07.18 CA Gadia Manish R 65

Supply Chain Assistance in Pricing Finance

Basic Due diligence

ITC Match and mismatch

01.07.18 CA Gadia Manish R 69

sale, merger, demerger, amalgamation, lease or

With the specific provision for transfer of liabilities

allowed to transfer the unutilised ITC in the

01.07.18 CA Gadia Manish R 80

• A confirmatory email shall be sent to such exporters

• Above mentioned exporters shall submit a certificate from CA

If the Aggregate Amount If the Aggregate Amount Proof of Payment

An Undertaking that if Wrong A CA Certificate stating

01.07.18 CA Gadia Manish R 85

01.07.18 CA Gadia Manish R 86

SEND TO +91 9820537986

01.07.18 CA Gadia Manish R 87

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