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Revised Model GST Law
Revised Model GST Law
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Revised Model GST Law (Nov 2016)Disclaimer Copy right This presentation has been prepared to provide a standard„userpresentation‟. The views expressed in this presentation are those of Speaker(s). The Institute of Chartered Accountants of India may not necessarily subscribe to the views expressed by the speaker(s). The information cited in this presentation has been drawn from various sources. While every efforts have been made to keep the information cited in this presentation error free, the Institute or any office do not take the responsibility for any typographical or clerical error which may have crept in while compiling the information provided in this presentation. Further, the information provided in this presentation are subject to the provisions contained under different acts and members are advised to refer to those relevant provision also. © The Institute of Chartered Accountants of India This standardised PPT may be used by any person with due acknowledgement to the Indirect Taxes Committee of ICAI. www.ThesisScientist.comSome Basic Concepts www.ThesisScientist.comGST: Objective Usher in single rate of tax Uniform tax across the country Reduce cascading effect of taxes Principle of „consumptionbased taxation‟ www.ThesisScientist.comComponents of GST Central GST (CGST) Levy on supply of ALL goods and/ or services within a particular State, by the Central Government State GST (SGST) Levy on supply of ALL goods and/ or services within a particular State, by the respective State Government Integrated GST (IGST) – Levy on ALL interState supplies of goods and/ or services, by the Central Government www.ThesisScientist.comConcept of CGST, SGST and IGST Leviable on Supply of Goods and Services Levy on transaction value with setoff of input tax Backed by Goods and Services Tax Network (GSTN) www.ThesisScientist.comConcept of CGST, SGST and IGST Possible rate structure Exempt Supplies: Nilrate, zero percent supplies ZeroRated Supplies: Exports and supplies to SEZ Supplies taxable at 5 Supplies taxable at 12 Supplies taxable at 18 Supplies taxable at 28 www.ThesisScientist.comConcept of Supply – Sec. 3 GST Model Law Section 3 Meaning and scope of supply Other matters Section 3(1)(a) Section 3(1)(b) Section 3(1)(c) All forms of supply of Importation of Supplies specified• Composite goods and/ or services, service, To be treated as supplies made without a Supply for a consideration for a consideration consideration• Mixed Supply in the course or whether or not furtherance of business in the course or Schedule I: such as: furtherance of 1. Permanent transfer/ disposal of business sale, business assets for which ITC availed transfer, 2. Supplies between related persons/ distinct barter, persons in the course or furtherance of business exchange, 3. Supply of goods by principal (or agent) to license, agent (or principal) rental, 4. Importation of service from a related lease or person or from any of his other establishments disposal outside India, in the course or furtherance of business. www.ThesisScientist.comMeaning and Scope of Supply Supply comprises: Cases to consider: • Included supplies• Purpose of supply – business or not • Implied supplies (Sch I)• Same forms of supply apply to • Excluded supplies (Sch III IV) services • Supply by casual taxable person Chargeability to tax: • ISD or interbranch service transfer Forward charge on supplier • IntraState stock transfer Reverse charge on imports • Free samples and warranty are Lateral charge (ecommerce) supplies for consideration Supply characterization: • Material supplied for jobwork Composite supply or • Sch II not exhaustive but specific Mixed supply • No supply, no tax but no credit too www.ThesisScientist.comPrinciples Determining Supply as interState or intraState www.ThesisScientist.comSection 3 of IGST Act, 2016 – Principles to determine a supply as an interState Supply Determination of supply of goods and/ or services as InterState supply CRITICAL factors: Where the below 2 are in DIFFERENT STATES a) Location of the supplier and b) Place of supply determined u/s 7,8, 9 or 10 of IGST Act Specific INCLUSIONS: • Supply of goods in the course of import, till they cross the customs frontiers of India • Supply of services in the course of import • Supply when place of supply is outside India but supplier is in India • Supply to or by a SEZ developer or an SEZ unit • Residuary supply: Any supply in the taxable territory and which is not an intraState supply (E.g.: Supply of goods from within a Union Territory(“UT”) without Legislature) www.ThesisScientist.comGST on Goods IntraState Supply InterState Supply CGSTSGST ‘From’ location ‘To’ location ‘To’ location IGST Dual tax – CGSTSGST One tax – IGST (higher rate) Registered office not relevant; location of goods is Movement for „delivery‟ relevant; even stock relevant transfer taxable IntraState supply, if „from‟ and „to‟ in one State Imports – basic customs + IGST www.ThesisScientist.comGST on Services IntraState Supply InterState Supply CGSTSGST Place of usage of service or Supplier’s address of Place of usage of recipient’s address of GST GST registration service registration IGST Dual tax – CGSTSGST One tax – IGST (higher rate) Place of usage relevant Imports – receiver to pay IGST „Test‟ of such place listed for various services When „place of usage‟ not fixed, use recipient‟s address www.ThesisScientist.comSection 4 of IGST Act, 2016 – Principles to determine a supply as an intraState Supply Determination of supply of goods and/ or services as IntraState supply CRITICAL factors: Where the below 2 are in the SAME STATE a) Location of the supplier and b) Place of supply determined u/s 7,8, 9 or 10 of IGST Act Specific EXCLUSIONS: • Supplies to or by a SEZ developer/ SEZ unit; • Importation of goods till they cross the customs frontiers of India. www.ThesisScientist.comIllustrations Supply Supplier Place of Supply Result Goods Karnataka Tamil Nadu InterState (IGST) Services Pondicherry Kerala InterState (IGST) Goods Chandigarh Chandigarh InterState (IGST) Services Chandigarh Punjab InterState (IGST) Goods Punjab Chandigarh InterState (IGST) Goods Delhi Delhi IntraState (CGST/SGST) Services Rajasthan Rajasthan IntraState (CGST/SGST) Note: Chandigarh is a UT without Legislature; Explanation to Section 2(2) provides that the term “State” includes a UT with Legislature (Of the 7 UTs, Delhi and Pondicherry are the only 2 UTs with Legislature). In case of a Union Territory if it adopts the legislature of a particular State say Punjab, then it will be intraState supply. www.ThesisScientist.comChapter – III of CGST Act www.ThesisScientist.comLevy Collection Goods means every kind of movable property and: • Includes actionable claim • Excludes money and securities o NO specific exclusion for intangible property Services means anything other than goods : • Includes transactions in money – in relation to use / conversion • Excludes money and securities www.ThesisScientist.comLevy Collection • Services 1: Subject • Goods • Goods as services 2: Supply • Included • Implied • Excluded 3: Place • InterState • IntraState 4: Time • Specified for goods • Specified for services www.ThesisScientist.comLevy Collection Description Composite Supply Mixed Supply Naturally bundled Yes No Supplied together Yes Yes Can be supplied separately No Yes One is predominant supply for recipient Yes No Other supply is not „aim in itself‟ of recipient Yes No Each supply priced separately No No All supplies are goods Yes Yes All supplies are services Yes Yes One supply is goods and other supply is services Yes Yes While, the above tests could be guiding principles in determining as to whether a supply is composite or mixed supply the end user test could be adopted as one of the criteria; Every supply will have to be independently analysed. www.ThesisScientist.comComposition Levy www.ThesisScientist.comComposition Levy– Sec. 9 of Model GST Law Availed Allowed Available COT IGST (2X) Compliance Eligible 2.5 Manufacturers 1 Others www.ThesisScientist.comComposition Levy– Sec. 9 of Model GST Law Optional Scheme Pay an amount in lieu of tax; minimum rate to be: 2.5 of the turnover in case of manufacturers; 1 of the turnover in other cases No tax to be collected; No Input Tax Credit available Conditions for Composition: • Permission of Proper Officer required • Registered persons • Aggregate Turnover Rs. 50 Lakhs (allIndia basis for taxable persons having same PAN – who shall also opt for composition) but excludes Sch III IV • Aggregate turnover = Value of all supplies (taxable + nontaxable + exempt + exports) – Value of (RCM supplies + inward supplies) – taxes under GST RCM supplies refers to value of supplies on which tax is levied on reverse charge basis www.ThesisScientist.comComposition Levy– Sec. 9 of Model GST Law No composition option in the following specific cases: • Services supplied: o Any/ all services (includes goods treated as supply of services by Sch II) • Goods supplied: o Nontaxable goods o InterState outward supplies o Through ecommerce operators o Notified goods manufactured by the supplier If aggregate turnover (all India basis) of preceding FY exceeds 50 Lakhs (If during the FY, the aggregate turnover exceeds 50 Lakhs, no composition from the following day.) www.ThesisScientist.comTaxable Person www.ThesisScientist.comTaxable Person – Sec. 10 of Model GST Law Taxable Person means: Person registered under the Act; or Person who is liable to be registered under Schedule V Distinct persons: A person who has obtained/ is required to obtain: 2/more registrations (for each business vertical within the same State) shall be treated as distinct persons in respect of such registrations. Registration in a State: An establishment in such State and establishments in other States shall be treated as distinct persons. States is the smallest registered unit in GST (except where separate registrations are obtained by business verticals) www.ThesisScientist.comSchedule V • Threshold: Aggregate turnover exceeding Rs.20 Lakhs in a financial year o Aggregate turnover = AllIndia turnover o Threshold shall be 10 Lakhs in case of supplies made from Special Category States (NE, Uttarkhand and JK) and shall be liable for registration in such State o Turnover includes supplies made on behalf of principal(s) o In case of jobwork, direct dispatch from the place of jobworker shall be considered as a supply by the principal (and not by the jobworker) o Registration from every State from which any taxable supply is made • Liability to register shall not arise where: o Person engaged exclusively in the business of supplying nontaxable supplies, or wholly exempt supplies o Person is an agriculturalist, for the purpose of agriculture. www.ThesisScientist.comSchedule V • Special cases: Liability to register o Every person who is registered under any of the laws that are subsumed into GST, on the day immediately preceding the appointed day Shall be liable to register w.e.f the appointed day o Where a business carried on by a taxable person is transferred to another person Such transferee – liable to register w.e.f the date of transfer o In case of transfer pursuant to the sanction of a scheme/ arrangement between 2/more companies, by an order of the High Court Such transferee – liable to register w.e.f the date of order effective date of such scheme/ arrangement www.ThesisScientist.comSchedule V Mandatory registration irrespective of threshold in the below cases: Casual taxable persons; Nonresident taxable person; Person making an interState supply (outward supply); Person required to pay tax under reverse charge mechanism; Persons who supply goods and/ or services on behalf of another registered taxable person (whether as agent or otherwise); Notified persons required to deduct tax u/s 46; Persons required to collect tax u/s 56 i.e., ecommerce operators; Persons required to pay tax on the supply of notified services effected through it u/s 8(4); Persons who supply goods and/ or services other than supplies u/s 8(4) through e commerce operators who are required to collect tax u/s 56 Input service distributors; Persons supplying online information database access or retrieval services from a place outside India to an unregistered person; www.ThesisScientist.comExemptions www.ThesisScientist.comExempt supplies, nontaxable supplies and zerorated supplies Section 2(44) – “exempt supply” means supply of any goods and/ or services • which are not taxable (do not include Sch III IV) • and includes such supply of goods and/ or services o which attract nil rate of tax; or o which may be exempt from tax under Section 11 Section 2(100) – “nontaxable supply” means a supply of goods or services which is not chargeable to tax under this Act Section 16(1) of IGST Act – “zerorated supply” means any of the following taxable supply of goods and/or services, namely a) Export of goods and/or services b) Supply of goods and/or services to a SEZ developer or an SEZ unit www.ThesisScientist.comExemptions provided to certain persons Schedule IV of Model GST Law provides indicative list of services provided by Central/ State Governments, Local authorities, Governmental Authorities • These shall not be shall be treated as “neither a supply of goods nor a supply of services” Examples: • Issue of passport, visa, driving license, birth certificate or death certificate o By a Government or a local authority to individuals o In discharge of its statutory powers • Services towards currency, coinage legal tender, and foreign exchange by Government to any person • Services by a Government or local authority in the course of discharging any liability on account of any tax levied by such Government or local authority. www.ThesisScientist.comPower to grant exemptions: Sec. 11 Model GST Law Central or State Government, based on the recommendation of the Council S.11 (3) On taxable goods and/ or services of any specified description Considers it necessary Is satisfied that it is necessary, For the purpose of clarifying the in the public interest scope or applicability of A or B S.11 (1) S.11 (2) By Notification By Special Order – B By Notification A Exempt Generally Exempt Insert an explanation in A or B, as the case may be, within 1 year (such clarification to have retrospective • Absolutely (not optional); effect) Under exceptional or circumstances, explicitly • Subject to conditions specified in such Order • Whole Tax; or Whole Tax • Part tax www.ThesisScientist.comPower to grant exemptions: Sec. 11 Model GST Law Note: For the purpose Section 11, the effective date or date of issue of the Notification or Order, as the case may be, is determined as under: For A or B (as the case may be) Whether the effective date is mentioned in A/ B Yes No Such date is the Date of issue is the effective date effective date www.ThesisScientist.comSec. 11 – Illustration I Notification issued u/s 11(1): Conditional, partial exemption The tax payable by a registered taxable person under Section 8, on the supply of aluminium ingots, sows, billets and wire rods made, in the course of intraState trade or commerce, to a recipient, being a registered taxable person, shall be calculated 1 subject to the condition that the recipient uses such goods as inputs in the manufacture of other goods Notification dt. 01.05.2017 www.ThesisScientist.comSec. 11 – Illustration II Notification issued u/s 11(1): Absolute exemption Exemption to following taxable services from tax leviable thereon: • Services provided to the United Nations or a specified international organization • Services by a veterinary clinic in relation to health care of animals or birds This notification shall come into force on the 1st day of June, 2018 Notification No. 25/2018 dt. 20.05.2018 www.ThesisScientist.comSec. 11 – Illustration III Special Order issued u/s 11(2) Order: Whereas the recent floods and landslides has caused extensive damage to public and private property in the State of Assam and has adversely affected the life of the common man in the State. There is a need to provide support to ensure sustenance for the local population by revival of the hospitality industry; And whereas taxable supply in the State of Assam is chargeable to GST; Now therefore, in exercise of the powers conferred by subSection (2) of Section 11 of the CGST Act, the Central Government being satisfied that it is necessary so to do, that the circumstances of exceptional nature as mentioned above, hereby exempts the following taxable services supplied to any person in the State of Assam, from the whole of GST leviable thereon under Section 8 of the said Act, namely: • Services by way of renting of a room in a hotel, inn, guest house, club, campsite or other commercial place meant for residential or lodging purposes • Services provided in relation to serving of food or beverages by a restaurant This exemption order is applicable for the above mentioned taxable services supplied during the period 1st July, 2017 to 31st July, 2017. Exemption Order dt.17.09.2017 www.ThesisScientist.comTime of Supply www.ThesisScientist.comSec.12(2): Time of Supply of Goods Actual date of issue of invoice by the supplier Due date for issue of invoice by the supplier Section 28: Supply involves movement: Time of removal of goods for supply As per Section 12(2) of Sale on approval basis: Earlier of time at which it becomes known CGST ACT, time of that the supply has taken place OR 6 months from date of removal supply of goods shall Other cases: Delivery of goods/ making available to the recipient or be earlier of invoice/ payment, i.e., – Notified categories of supplies: Time to be specified by Rules Date on which payment is entered in the books of supplier Date on which payment is credited to the supplier‟s bank a/c Where payment is received in advance, the Supplier shall issue a receipt voucher, and NOT a tax invoice www.ThesisScientist.comSec.13(2): Time of Supply of Services Actual date of issue of invoice by the supplier Due date for issue of invoice by the supplier Section 28: As per Section 13(2) of Before/ after the supply of service, but within 30 days CGST ACT, time of Notified categories of supplies: Any other prescribed document shall supply of services shall be deemed to be the tax invoice be earlier of invoice/ payment, i.e., – Date on which payment is entered in the books of supplier Date on which payment is credited to the supplier‟s bank a/c Where payment is received in advance, the Supplier shall issue a receipt voucher, and NOT a tax invoice www.ThesisScientist.comSec.12: Time of Supply Continuous Supply of Goods Section 28(4): Due date for issue of invoice in case of continuous supply of goods – involving successive statement of accounts (SOA) or successive payments: In case of successive statements of accounts In case of successive payments Before/ at the time of receipt such each Before/ at the time of issue of each SOA payment Examples for Continuous Supply of goods u/s 12(2) read with Section 28(4) Successive Successive Due date for issue of SOA receipt of payments issue of invoice 5Jul17 NA 5Jul17 NA 10Jul17 10Jun17 www.ThesisScientist.comSec.13: Time of Supply – Continuous Supply of Services Section 2(31) “continuous supply of services” means a supply of services which is: provided, or agreed to be provided, continuously or on recurrent basis, under a contract, for a period exceeding three months with periodic payment obligations and includes supply of such service as the Central or a State Government may, whether or not subject to any condition, by notification, specify; Section 28(5) prescribes due date for issue of invoice in case of continuous supply of services: Where the due date of payment is • Within 30 days of recipient becoming ascertainable from the contract: liable for payment Where the due date of payment is not • Within 30 days of receipt of each ascertainable from the contract, time of supply payment shall be earliest of Where the payment is linked to the completion • Within 30 days of completion of event of an event: Note: Government may notify supplies that shall be treated as continuous supply of goods (or services). www.ThesisScientist.comSec.13: Time of Supply – Supply of Services Ceases Before Its Completion Section 28(6): In a case were the supply of services ceases under a contract before the completion of supply: Such services shall be deemed to have been provided at the time when supply ceases AND invoice shall be issued to the extent of supply effected www.ThesisScientist.comTime of Supply of Goods / Services Reverse Charge –S12(3)/S 13(3) Date on which payment is entered in the Date on which payment is debited to the books of recipient recipient‟s bank a/c Where tax liable to be paid on reverse charge basis, the time of supply of goods/services shall be earliest of– st st 31 day (in case of goods, and 61 day in case of services) from the date of issue of invoice by supplier Where it is not possible to determine time of Note: This factor is not relevant in case of supply in the 3 other cases: Date of entry in services from a supplier being an associated the books of account of the recipient enterprise outside India Note: On the date of receipt of goods (or services) from a supplier being an unregistered person, the recipient shall issue an invoice Section 28 www.ThesisScientist.comResidual Provision Sec 12(4)/S 13(4) Time of supply in case of supply of voucher– Date of issue – If supply is identifiable at the point of issue of voucher Date of redemption of voucher – Other cases Note: Voucher not to be separately taxable Voucher– can be for goods or services www.ThesisScientist.comResidual Provision Sec 12(5)/S 13(5) Where it is not possible to determine the time of supply under any of the circumstances discussed, it shall be determined as: Due date for filing of such return – If periodical return has to be filed Date on which the CGST / SGST is paid – Other cases www.ThesisScientist.comSection 14: Change in rate of tax in respect of supply of goods or services Date of supply of Date of Date of receipt Time of supply Rate of tax goods or services invoice of payment (1) (2) (3) (5) (4) Before After After Earlier of (2) and (3) New Before Before After (2) Old Before After Before (3) Old After Before After (3) New After Before Before Earlier of (2) and (3) Old After After Before (2) New www.ThesisScientist.comValue of Supply www.ThesisScientist.comValue of Taxable Supply: Sec 15 Value of Taxable Supply Value of supply of goods and/or services on which CGST/SGST is to be discharged shall be the „Transaction Value‟, where • Supplier and recipient of supply are unrelated • Price is actually paid/ payable – AND price is the sole consideration for the supply Section 2(84) of the CGST Act deems the persons below to be “related persons”: • Officers / Directors of one another‟s business • Partners in business • Employer – employee • A person directly/ indirectly owns/ controls/ holds 25 of shares of both the persons • One directly/ indirectly controls the other • Both are directly/ indirectly controlled by a third person • Together, they directly/ indirectly control a third person • Members of the same family • Sole agent / distributor of the other www.ThesisScientist.comTransaction value: Inclusions exclusions Transaction Value INCLUDES: Transaction Value EXCLUDES Amounts charged by supplier to recipient in respect of any taxes, discount: duties, cesses, fees and charges levied under any statute, other Before/ at the time of supply than taxes paid under GST regime; o Single condition: Such discount Amount incurred by Recipient which is liable to be paid by the is duly recorded in the invoice Supplier; Charges by Supplier to Recipient being: After the supply: Cumulative o Incidental expenses (e.g.: packing, commission) conditions: o Charges for anything done by the Supplier at the time or o Agreement establishing discount before the supply, in respect thereof entered into before/ at the time o Interest/ late fee/ penalty for delayed payment of of supply consideration o Discount specifically linked to o Subsidies directly linked to price – for supplier receiving relevant invoices the subsidy (excluding Central and State Govt subsidies; i.e., Government subsidies will not be included in transaction o ITC reversed by the recipient to value) the extent of discount www.ThesisScientist.comTransaction value: Recourse to Rules A. Where value cannot be determined u/s 15(1), i.e., when: 1. Price is not the sole consideration 2. Supplierrecipient are related persons: Recourse to Rules even if the SupplierRecipient relationship: Did not influence the price; Precedes agreement to the supply; Has no bearing on pricing; Has no bearing on Agreement to the Supply; Has no relevance to the Supply; Was to meet with different criteria or purpose; (Rules will apply both ways – supplier to recipient and recipient to supplier) B. In case of notified supplies www.ThesisScientist.comPlace of Supply of Goods/ Services www.ThesisScientist.comPlace of Supply of Goods – Sec 7 IGST (other than goods imported/ exported) Section 7(6) Section 7(3) Section 7(4) Section 7(2) Section 7(5) Goods supplied on Goods supplied on Supply does not Supply involves Goods are assembled board a conveyance direction of the third involves movement movement of Goods or installed at site e.g. vessel, aircraft, person of Goods train, vehicle etc. Principal Location of Place of goods at the Location of Location at Business of time at which goods at the Place of which such the third movement time of installation or goods are person (i.e., terminates for delivery to assembly taken on address in delivery to the recipient board Registration recipient Certificate) Where none of the above rules apply, place of supply would be determined in the manner to be prescribed www.ThesisScientist.comPlace of Supply of Goods – Sec 8 IGST (goods imported into/ exported from India) Export of goods: Means taking goods out of India to a place outside India; Import of goods: Means bringing goods into India from a place outside India; Section Situation Place of supply 8(1) Goods imported into India Location of importer 8(2) Goods exported from India Location outside India Note: Section 5 provides that IGST shall be levied on goods imported into India as per Section 3 of Customs Tariff Act Point of taxation When duties of customs are levied on the said goods Value As determined as per Customs Act www.ThesisScientist.comPlace of Supply of Services – Sec 9 IGST (where supplier recipient are in India) Services directly in relation to: a) Immovable property – grantofrights, Place of supply Section 9(4): construction, use, accommodation, Location of property/ boat/ letting out, architects, surveyors, etc. vessel b) Boat, Vessel – lodging, club, etc. c) Ancillary services to the above Supply of: a) Restaurant and catering b) Personal grooming Place of supply Section 9(5): c) Fitness Location of „actual‟ d) Beauty treatment performance e) Health service including cosmetic and plastic surgery www.ThesisScientist.comPlace of Supply of Services – Sec 9 IGST (where supplier recipient are in India) S. 9(6): Supply of S. 9(8): Supply of: S. 9(7): Supply of Services of Training a) Organising cultural, arts, Services for admission to: and Performance sports, educational, scientific, a) Cultural artistic Appraisal entertainment, conference, fair b) Sporting exhibition or similar events c)Scientific educational b) Services ancillary to above Registered recipient: d) Entertainment event Registered Location of e) Amusement Park recipient: recipient f) Services ancillary to Location of above recipient Unregistered recipient: Unregistered Place of „actual‟ recipient: Venue of event/ performance Venue of event park www.ThesisScientist.comPlace of Supply of Services – Sec 9 IGST (where supplier recipient are in India) Registered Recipient: Location of Recipient Sec 9(9): Transportation of goods, including by mail or Unregistered Recipient: Location where goods courier handed over got transportation Registered Recipient: Place of Registered Sec 9(10): Passenger Recipient Supply of Transportation Service Unregistered Recipient: Place where passenger services of: (Return journey treated as embarks on the conveyance for a continuous separate journey) journey Sec 9(11): Services on board First scheduled point of departure of that conveyance like vessel, conveyance for that journey aircraft, train, motor vehicle www.ThesisScientist.comPlace of Supply of Services – Sec 9(12) IGST (where supplier recipient are in India) (a) Services of fixed telecommunication line, leased Location of in situ device circuits, internet leased circuit, cable or dish antenna (b) Postpaid mobile connection Location of billing address of the recipient on for telecommunication and record internet services Through internet: Location of recipient on record (c) Prepaid mobile connection for Through selling agents: Location of selling telecommunication and internet agent on record of supplier services Though others: Location where prepayment received • In cases not covered in (b) and (c), address of recipient on records shall be the place of supply; • Where no address of the recipient available in records, location of the supplier shall be the place of supply www.ThesisScientist.com Supply of telecommunication services including data transfer, broadcasting, DTH, cable etc. Place of Supply of Services – Sec 9 IGST (where supplier recipient are in India) Supply of: Sec 9(15) Sec 9(13) Banking and Advertisement Other Financial Sec 9(14) Insurance Services to Services including Services Government, etc. Stock Broking Registered recipient: Location of recipient Place is State of Location of recipient in suppliers records dissemination in Unregistered recipient: (If not available, proportion Location of recipient in location of supplier) supplier‟s records www.ThesisScientist.comPlace of Supply of Services – Sec 9 IGST (where supplier recipient are in India) Section 9(2): Registered recipient: Location of recipient For Supply of any Section 9(3)(a): Unregistered recipient: other Service, Address in supplier‟s records Place of supply is: Section 9(3)(b): Unregistered recipient: Location of supplier if address not available www.ThesisScientist.comPlace of Supply of Services – Sec 10 IGST (where supplier or recipient is outside India) Services i.r.o goods Banking services Service by way of Services supplied Transportation of required to be made to account holders, admission to/ directly in relation goods (other than physically available intermediary organising an to immovable by way of by recipient services, hiring of event, etc. and property mail/courier) means of transport ancillary services (other than aircraft Services requiring vessels) upto 1 physical presence of receiver/ person month acting on his behalf Location of such Location Place where immovable where services Location of Destination of the event is property (or supplier actually the goods actually held where it is performed intended to be located) Where none of the above rules apply, place of supply would be determined in the manner prescribed www.ThesisScientist.comPlace of Supply of Services – Sec 10 IGST (where supplier or recipient is outside India) To prevent double Passenger Service provided taxation/ non Online information transportation on board a taxation, or for the Residuary and database service conveyance uniform access or retrieval application of services rules, CG has power to notify services/ Location of First circumstances the recipient; Place where scheduled If not passenger point of available in embarks on the departure of Location of Place of the ordinary conveyance for that recipient effective use course of a continuous conveyance and enjoyment business, journey for that of a service location of journey supplier www.ThesisScientist.comConcept of Input Tax Credit www.ThesisScientist.comConcept of ITC “Input tax" means IGST (including that on import of goods), CGST and SGST; Charged on any supply of goods or services to him and; Includes the tax payable under subsection (3) of section 8, Excludes the tax paid under section 9 (reverse charge basis) www.ThesisScientist.comPrinciples on Input Tax Credit System for a seamless flow of credit Extends to interState supplies Credit utilization would be as follows: Allowed for Payment of Credit of: IGST CGST SGST IGST (1) (2) (3) CGST (2) (1) SGST (2) (1) The numbers represent the order of utilization of credit Expectation: Accumulation of unutilized GST credits would be avoided except in cases of exports www.ThesisScientist.comEligibility Time Limit for Availing ITC Earlier of : Admissible to take ITC on ITC amount will be credited Registered Taxable 1. Annual Return supplies used/ intended to be to the electronic Credit used in the course/ filing Date Person – 16(1) Ledger furtherance of business 2. Return filing date for September of the following F.Y. Person applied for ITC available in respect of: On the day immediately registration within 30 a) Inputs preceding the date from days of becoming liable b) Semifinished Good which he becomes liable to to register, and c) Finished Goods pay tax registration granted One Year from the Person applied for On the day immediately date of issue of tax Same as above preceding the date of Voluntary invoice 18(5) registration Registration On the day immediately Registered taxable preceding the date from Same as above person ceases to pay which he becomes liable to composition tax pay tax u/s 8 www.ThesisScientist.com Eligibility and Time Limit of ITC AvailmentConditions for Availment of ITC by a Registered Taxable Person Tax actually paid by Basis tax invoice/ the supplier to the debit note issued He has furnished the Goods and/or credit of the monthly return in by a registered services have been appropriate supplier, or other Form GSTR3 under received Government, either prescribed taxpaying Section 34 in cash or by document utilization of ITC Note: • Credit only upon receipt of the last lot/ instalment in case of goods received in lots/ instalments. • Goods deemed to be received by a taxable person when the supplier delivers the goods to the recipient/ any other person, on the direction provided by the taxable person to the supplier. • www.ThesisScientist.comITC on the Basis of use of Inputs For Business ITC Available purposes Attribution of ITC to Use of input tax be made as per the credit manner prescribed in the notification to be For Other ITC not Available issued by the Govt. Purposes www.ThesisScientist.comITC on the Basis of use of Inputs Use of input tax credit: Partly for Note: Attribution of ITC to be made Zero Non Taxable Exempt Nilrated as per the manner rated taxable Supplies Supplies Supplies prescribed in the Supplies Supplies notification to be issued by the Govt. I IT TC CI TC no not t not ITC ITC av availab ailable le Available available Available Alternative to apportionment between taxable exempt supplies in case of banking companies financial institutions: • Yearly option to avail a standard rate of 50 of eligible ITC on inputs, capital goods and input services on a monthly basis www.ThesisScientist.comITC in case of Capital Goods ITC not Available Depreciation claimed on Tax component of the cost of capital goods under IT Act Example: Cost of asset = Rs. 100 Tax10(say) = Rs. 10 Total Cost Rs. 110 If Depreciation charged on If Depreciation charged on Rs.100 Rs.110 ITC Available ITC not Available www.ThesisScientist.comRestrictions on ITC : Sec 17(4) Blocked credits a) Motor Vehicles Transportation of goods, or Making the following taxable services: ITC for Motor Except i. Further supply of such vehicles/ Vehicles will when conveyances, or NOT be they are ii. Transportation of passengers, or available used for: iii. Training for driving/ flying/ navigating such vehicles/ conveyances Note: Where any amount has been paid on goods and/or services, in lieu of tax, under composition scheme, no credit on such amount would be allowed. www.ThesisScientist.comRestrictions on ITC : Sec 17(4) Blocked credits b) Supply of goods and services being: Allowed ONLY if goods/ services of a particular category Cosmetic Food and Outdoor Beauty Health are used towards making and Plastic Beverages Catering Treatment Services taxable outward supplies of the Surgery same category Life/ health Rentacab Insurance Health and Travel Membership Fitness Benefits to Allowed ONLY if where the services of club Centre employees are notified as obligatory for an employer to provide an employee NEVER allowed www.ThesisScientist.comRestrictions on ITC : Sec 17(4) Blocked credits c) Construction of Immovable Property (other than plant machinery) Goods or services received by a Works contract services, except where taxable person for construction of an it is an input service for further supply immovable property on his own of works contract service account even when used in course or furtherance of business; ITC not Available www.ThesisScientist.comITC: Change in Constitution of Taxable Person Transfer of Unutilized ITC On account of: in the books allowed to Sale, such: Change in Constitution Merger, Sold, of Registered Taxable Demerger, Merged, Person Amalgamation, Demerged, Lease, or Amalgamated, Transfer of business Leased, or Transferred Business www.ThesisScientist.comSwitching from regular to over composition Pay and Exit Eligible credit under earlier law carried forward in the return Amount equivalent to the credit of input tax in respect of input held in stock or input contained in semifinished goods or finished goods held in stock as on appointed day Such amount shall be payable by debiting the electronic credit ledger or cash ledger Balance in electronic credit ledger shall lapse www.ThesisScientist.comSupply of Capital goods on which ITC already taken If the recipient of services fails to pay (value + tax) within 3 months from date of invoice, (ITC availed + interest) shall be added to his output tax liability ITC availed earlier – Reduced Percentage of Supply of Capital goods deduction as may be on which ITC had been Pay Tax on higher of: specified taken earlier OR Transaction Value Note: Any credit wrongly taken shall be subjected to the recovery provisions www.ThesisScientist.comITC in respect of goods sent for job work Sec. 20 Inputs/ Capital Goods sent for job work Received back or directly supplied from job Principal Job Worker worker‟s premises within 1 year (inputs) or 3 years (capital goods) of being sent out ITC available if the conditions and restrictions under job work are satisfied If not received/directly supplied in time: Principal to pay ITC availed + Interest. He can reclaim this ITC on receiving back such inputs/ capital goods. www.ThesisScientist.comInput Service Distributor – Sec. 21 ITC is distributed to supplier of goods and/or services of same entity having the same PAN Deemed as ISD is a supplier of Service for distributing credit Common Services used at for Distribution of Credit where ISD and recipient are Office / located in different State under CGST ACT or Corporate SGST ACT office of Supplier Distribution of Credit where ISD and recipient are located in within State under CGST ACT or SGST ACT www.ThesisScientist.comInput Service Distributor ISD Recipient ISD in Same State Recipient in Different States (Business vertical) CGST Act SGST Act CGST Act SGST Act Credit of CGST Credit of CGST Credit of SGST Credit of SGST or IGST as or IGST as or IGST as as IGST IGST CGST SGST www.ThesisScientist.comConditions to distribute credit: Input Service Distributor Credit distributed to recipient through prescribed documents containing prescribed details. Such document should be issued to each of the recipient of credit. Credit distributed should not exceed the credit available for distribution Tax paid on input services used by a particular location (registered as supplier) has to be distributed only to that location. Credit of tax paid on input service used by more than one location who are operational is to be distributed to all of them based on the pro rata basis of turnover of each location in a State to aggregate turnover of all such locations who have used such services www.ThesisScientist.comExcess Credit distributed by Input Service Distributor Excess Credit Distributed by ISD Credit distributed in excess of what Excess credit distributed to one or was available more suppliers Recovery of such excess credit with interest from the supplier(s) www.ThesisScientist.comRegistration www.ThesisScientist.comRegistration Structure under GST – Sec 23 Three Acts applicable on every Person under GST – Central GST Act, (State) GST Act, Integrated GST Act. Registration under SGST Registrations required by every person: Registration • Simultaneous registration under CGST, SGST IGST Single under CGST GSTIN Registration under IGST Separate registration required for each State States Business 29+2 N Total possible registrations for one PAN Verticals + UTs Possible separate registrations for each business vertical within a State as defined u/s 2(18) www.ThesisScientist.comRegistration Structure under GST – Sec 23 PAN based Registration: PAN will be mandatory (except for NonResident) X X X X X X X X X X X X X X X Business Vertical State Code PAN Blank Checksum Place of Registration “from where” Supplier makes a taxable supply of goods and/ or services Provision for Voluntary Registration Central/State Government specify persons exempted from obtaining registration Auto generation of provisional registration for existing assessee based on enrolment Proper officer has powers for suo moto registrations in case of unregistered persons www.ThesisScientist.comProcess to obtain Registration – Sec 23 Schedule V provides for persons liable for registration Application to be filed online within 30 days Application can also be filed through TRP or FC Scanned documents to be attached Status of the Application – Acceptance / Query Rejection only after giving opportunity of being heard Rejection of Application under CGST will be a deemed rejection under SGST and viceversa Deemed Approval, if no query www.ThesisScientist.comRegistration Special Provisions Failure to Register Casual Taxable Person • If person newly applying for • Person who occasionally registration fails to apply for undertakes transactions registration within 30 days involving supply of goods from the date on which he and/or services in the course or becomes liable to registration – furtherance of business, in a ITC credit in respect of goods taxable territory where he has held in stock or contained in no fixed place of business. finished or semifinished goods held in stock will not be available. www.ThesisScientist.comRegistration Provisions, NonResident Taxable Person – Sec 24 Registration Time period Advance Deposit • Person who • Certificate of • They shall be occasionally, Registration issued required to make undertakes to such persons advance deposit of transactions shall be valid only estimated tax involving supply of for a period of 90 liability net tax at goods and services, Days. Can be the time of and who has no extended maximum registration. fixed place of by further 90 days business in India. www.ThesisScientist.comAmendment in Registration – Sec 25 Any change in registration has to be informed Proper officer may approve/reject amendment No rejection without giving an opportunity of being heard Rejection of amendment under CGST will be a deemed rejection under SGST and vicea versa www.ThesisScientist.comCancellation of Registration – Sec 26 Reasons for cancellation • Transfer of business or discontinuation of business • Change in the constitution of business. (Partnership Firm may be changed to Sole Proprietorship due to death of one of the two partners, leading to change in PAN ) • Persons no longer liable to be registered under Schedule V (Except when he is voluntarily registered) • Where registered taxable person has contravened provisions of the Act • A composition supplier has not furnished returns for 3 consecutive tax periods/ any other person has not furnished returns for a continuous period of 6 months • Noncommencement of business within 6 months from date of registration by a person who has registered voluntarily. • Where registration has been obtained by means of fraud, willful statement or suppression of facts, the registration may be cancelled with retrospective effect. www.ThesisScientist.comCancellation of Registration – Sec 26 Cancellation can be done by Proper Officer suo motu or on application made by the registered taxable person Retrospective cancellation in case of fraud, wilful misstatement or suppression of fact Liability to pay tax before the date of cancellation will not be affected Cancellation under CGST Act will be deemed cancellation under SGST Act and viceversa Substantial penalty in case registration obtained with fraudulent intentions Notice of hearing and opportunity of being heard is a MUST before cancellation. Application for revocation or cancellation of registration shall be made within 30 days of date of service of cancellation order. (Sec 27) www.ThesisScientist.comTax Invoice, Debit Credit Notes www.ThesisScientist.comTax Invoice – Sec 28 Before/ at the time of : • Removal of goods for supply (supply involves movement Supply of of goods) taxable goods • Delivery of goods/ making available to the recipient Registered (other cases) taxable person shall issue tax invoice Supply of taxable Before/ after provision of service but within prescribed period services a) Revised invoices may be issued against the invoice already issued during the period starting from the effective date of registration till the date of issuance of certificate of registration within one month from date of issuance of certificate of registration. b) Composition dealers to issue a bill of supply instead of tax invoice c) Tax invoice is deemed to include a document issued by an ISD u/s 21 and a revised invoice d) Amount of tax to be prominently indicated in all documents relating to assessment, tax invoice and other like documents (Sec 30) www.ThesisScientist.comTax Invoice – Sec 28 e) For receipts of advances on supply of goods/ services: Receipt voucher/ other prescribed document f) In case of RCM, if goods/ services are received from an unregistered person, the registered taxable person shall issue an invoice g) In case of continuous supply of goods where successive statements of accounts/ payments are involved, invoice shall be issued before or at the time of each such statements/ payment. h) In case of continuous supply of services Due date ascertainable – invoice to be issued before/ after payment is liable to be made by recipient but within prescribed period (whether or not payment received) Due date not ascertainable – invoice to be issued before/ after each such time supplier receives payment but within prescribed period Payment linked to completion of an event – invoice to be issued before/ after time of completion of that event but within prescribed period www.ThesisScientist.comCredit/ Debit Notes– Sec 31 No Credit Note if incidence of tax and Charged in Tax interest on supply has Invoice Amount Taxable Person to been passed to any Payable or goods issue CREDIT other person returned by recipient Note or services found Where Taxable value th deficient On or before 30 and/or tax September following end of FY of supply or date of annual return Charged in Tax Taxable Person to whichever is earlier Invoice Amount issue DEBIT Note Payable Registered taxable person issuing Debit/ Credit notes to declare its details in the return for the month during which such notes are issued /received or in the return for any subsequent month but not later than September following the end of F.Y. of supply, or the date of filing of the relevant annual return, whichever is earlier, and the tax liability shall be adjusted in the manner specified in this Act. www.ThesisScientist.comReturns www.ThesisScientist.comReturns under GST RETURN PARTICULARS DUE DATE APPLICABLE FOR FORM th GSTR1 Outward Supplies 10 of the next month Normal/ Regular Taxpayer th GSTR2 Inward Supplies 15 of the next month Normal/ Regular Taxpayer th GSTR3 Monthly return periodic 20 of the next month Normal/ Regular Taxpayer th GSTR4 Return by compounding tax payers 18 of the month next to the quarter Compounding Taxpayer a) 20 days after the end of a tax period or Return by non resident tax payers GSTR5 b) within 7 days after expiry of Foreign NonResident Taxpayer foreigners registration whichever is earlier. th GSTR6 Return by input service distributors 13 of the next month Input Service Distributor th GSTR7 TDS return 10 of the next month Tax Deductor Normal/ Regular Taxpayer, st GSTR8 Annual return 31 December next FY Compounding Taxpayer Ledgers ITC ledger, cash ledger, tax ledger On a continuous basis www.ThesisScientist.comOutward Inward Supplies – Return (GSTR 3) Consolidated Return of Outward Supplies and Inward Supplies Return OUTWARD SUPPLIES includes goods INWARD SUPPLIES includes goods /or /or services services Details to Debit Details to Inward Inward Inter be notes, be supplies of supplies of state/Intra Credit furnished Zero Rated credit furnished goods /or goods /or state th th notes, debit by 15 day Supplies notes and by 10 day services services supplies notes succeeding exports supplemen succeeding subject to subject to goods the tax tary the tax RCM IGST return period invoice period Note: Non resident taxable person, ISD registered person opting composition scheme not required to file return of Inward Supplies www.ThesisScientist.comReturns Process Upload Generate GSTR2 Autodrafted GSTR1 by accepting/ GSTR2A based on Can include rejecting/ details from GSTR missing 1 filed by other modifying details invoice upto suppliers from GSTR2A th 17 General net tax: Pay/ Supplier to accept Add missing carried modifications by purchase forward in 17th invoices GSTR 3 www.ThesisScientist.comGST Returns – Important Points Every registered taxable person to furnish returns Submission of return Through online mode Return to be filed even if there is no business activity during the return period Error or omission may be rectified No specific provision for revision prescribed B2B transactions proposed on invoice level – GSTIN, Invoice No. date, Value, Description, rate of tax and value of Tax. B2C invoice wise only for transaction above specified limit HSN Codes – Goods and Accounting Codes Services Separate Tables for Debit / Credit Notes / Input Service Distributor Credit / TDS etc. Common eReturn for CGST, SGST IGST www.ThesisScientist.comMatching, Reversal Recredit Matching Reversal Reclaim Details not matching Details of inward supply resulting in excess to be furnished by a receiver to be communicated to both matched with details of supplier receiver Recipient entitled to output supplies furnished by corresponding supplier reduce output tax Details communicated but not rectified by supplier to liability if supplier be added to the output tax rectifies the return liability of recipient within prescribed Credit details of matching timelines Duplication resulting in supplies only to be accepted excess also to be added to manner to be prescribed output tax liability of recipient www.ThesisScientist.comFirst, Annual and Final Return First Annual Final Return Return Return Every registered dealer to furnish Every registered taxable annual return by 31st December person who has made except: outward supplies between Every registered dealer date of liability to register to • ISD opting for cancellation to date of grant of registration furnish a final return To • casual taxable person be furnished within 3 • Person deducting tax months from date of • Nonresident taxable person cancellation or date of cancellation order, Filed after grant of whichever is later Reconciliation statement to be registration furnished along with the statutory audited report and annual return www.ThesisScientist.comGST Return – Important Points BLACK LISTING OF RECTIFICATION NON FILLING DEALERS Rectification allowed till Cancellation of registration Compliance rating to be September 30 or date of for non filing of returns for introduced. Fall below the filing of annual return 3 consecutive tax periods prescribed level would lead to blacklisting PENALTY NON FILING OF RETURN Late Fees: INR 100 per day subject to a maximum of INR 5,000 Late Fee Annual Return INR 100 per day subject to a maximum of 0.25 of the aggregate turnover of the defaulter www.ThesisScientist.comPayment Process under GST www.ThesisScientist.comTypes of Payments under GST For Supply of Interstate / Intra State: • CGST = A/c of the Central Govt. • SGST = A/c of concerned State Govt. • IGST = Components of both CGST SGST Tax Deducted at Source (TDS) Tax Collected at Source (TCS) Additionally wherever applicable: Interest, Penalty, Fees and Any other payment www.ThesisScientist.comPersons liable for Payment Generally, Supplier is liable to pay the tax In Other cases like: • Imports and other notified supplies, liabilities may be imposed on the recipient under the reverse charge mechanism (RCM) • By third person for example in case of : ECommerce = Operator is responsible for TCS Contractual Payments = Government / Other notified entities are responsible for TDS www.ThesisScientist.comMode of Payment Principal tax liability: Debit to Electronic Credit Ledger of the Taxpayer maintained on the “Common Portal – Only”; Interest, Penalty and Fees cannot be paid by debiting the Electronic Credit Ledger; Cash may be deposited by making EPayment (Internet Banking, Credit Card – pre registration with the portal, Debit Card, RTGS / NEFT) at any authorized branches of Banks to accept GST payments. The cash deposited would be as a debit to the Electronic Cash Ledger of the Taxpayer maintained on the “Common Portal”. www.ThesisScientist.comElectronic Credit Ledger Input tax credit balance uploaded from return filed under earlier laws would be auto populated in this ledger; ITC would be of stock of Inputs, Semifinished goods Finished goods on the relevant date, from which Taxpayer becomes liable; ITC on inward supplies from Registered Tax Payers; ITC distributed from Input Service Distributor (ISD); Permissible ITC on stock held upon conversion from composition scheme; ITC eligible on payment made on reverse charge basis. www.ThesisScientist.comConcept of Electronic Focal Point Branch (EFPB) EFPB are branches of authorized banks designated to collect payment of GST. Each authorized bank will nominate only one branch as its EFPB for pan India Transactions. The EFPB will have to open accounts under each major head for all governments. Total 33 accounts (one each for CGST, IGST and one each for SGST for each State/UT with legislature) will have to be opened. Any amount received by such EFPB towards GST will be credited to the appropriate account held by such EFPB. For NEFT/RTGS Transactions, RBI will act as EFPB www.ThesisScientist.comTime of Payment On occurrence of any one of the following events, GST payment would become due (earliest of the following): • Receipt of advance • Issuance of Invoice • Completion of Supply www.ThesisScientist.comDue Date of Making Tax Payment th CGST/ SGST/ IGST Payment Date = 20 of the Succeeding Month • Normal Taxpayer on Monthly Basis • Composition Taxpayer on Quarterly Basis th TDS/ TCS payment on 10 of the succeeding month on monthly basis Credit to the account of Government will be considered as date of deposit of Tax. www.ThesisScientist.comPayment Process Only electronically generated Challan from GSTN for all 3 modes of payment Unique 14digit Common Portal Identification Number (CPIN) for each challan Challan can be generated by Taxpayer, authorized representative or Departmental officers Single challan for all four types of taxes System of electronic Personal Ledger Account (cash ledger) on GSTN for each taxpayer RBI to act as aggregator and anchor of flow of fund and information about receipts Automation and transparency in flow of information Escroll (statement of tax payment) facility will be provided by RBI www.ThesisScientist.comPayment Process Use of only system generated challans – no redigitization in the entire work flow CPIN to be generated by GSTN to be used as a key identifier up till receipt by Bank CIN to be generated by collecting Bank to be used as a key identifier Accounting Authorities to play a paramount role in reconciliation • Accounting on the basis of RBI data, • Reconciliation on the basis of GSTN and bank data www.ThesisScientist.comReconciliation of Receipts under Payment Process Use of only system generated challans – no redigitization in the entire work flow CPIN to be generated by GSTN to be used as a key identifier up till receipt by Bank CIN to be generated by collecting Bank to be used as a key identifier Accounting Authorities to play a paramount role in reconciliation • Accounting on the basis of RBI data, • Reconciliation on the basis of GSTN and bank data www.ThesisScientist.comRefunds www.ThesisScientist.comRefund – Important Points – Sec. 48 In case of refund arising from earlier law, it will be adjudicated as per earlier law. No refund shall be granted if the amount is less that Rs.1000/ Refund application has to be made within 2 years from the relevant date. Time limit of 2 years not applicable on refund of balance in electronic cash ledger. Such refund can be claimed only in returns furnished u/s 34 Refund allowed only in cases of: Exports (including zerorated supplies) Credit accumulation as a result of inverted duty structure on output supplies other than nil rated and fully exempt www.ThesisScientist.comRefund – Situations Relevant Time Period Situation of Refund 2 years from below Relevant Date On account of excess payment Date of payment of GST On account of Export of Goods Date on which proper officer gives an order for export known as “LET EXPORT ORDER On account of Export of Services Date of BRC On account of finalization of provisional Date of the finalization order assessment In pursuance of an appellate authority‟s order in Date of communication of the appellate authority‟s favour of the taxpayer order www.ThesisScientist.comRefund – Situations Relevant Time Period Situation of Refund 2 years from below Relevant Date On account of no/less liability arising at the time Date of communication of adjudication order or of finalization of investigation proceedings order relating to completion of investigation On account of accumulated credit of GST in Date of providing of service case of a liability to pay service tax in partial reverse charge cases On account of refund of accumulated ITC due Last day of the financial year to inverted duty structure www.ThesisScientist.comRefund – Documents for Application Interest Documents Required for Application of Refund • Documents evidencing tax payments required to be enclosed with the refund application • Copy of proof of deposit of tax invoices Documents evidencing export • A CA Certificate may be called for evidencing that the tax burden has not been passed on to the buyer. (“unjust enrichment”) Interest on Refund • Refund application to be processed within 60 days from the date of application • For refunds made after 60 days from date of application – interest at the rate as may be recommended by the GST Council. www.ThesisScientist.comWithholding of Refund by Department If Taxpayer has not submitted his return(s) If any dues are pending to be paid by the Taxpayer or if cases are pending with the Appellate Authority / Tribunal / Court for Tax, Interest or Penalty Refund will be on hold if Commissioner is of the opinion that grant of refund will adversely affect on revenue in case appeal is filled by either party however opportunity of hearing will be granted. Further refund will be adjusted against any dues of taxes, interest , penalties, fees of existing regime and GST tax regime. On receipt of refund application and on receipt of all documents, 90 provisional refund will be granted. The balance amount will be granted within 60 days from the date of application www.ThesisScientist.comWithholding of Refund by Department If Taxpayer has not submitted his return(s) If any dues are pending to be paid by the Taxpayer or if cases are pending with the Appellate Authority / Tribunal / Court for Tax, Interest or Penalty Commissioner / Board can withhold refund if granting such refund will adversely affect revenue as per Section 38(9) of Model GST Law www.ThesisScientist.comJob Work www.ThesisScientist.comSec. 55: Special procedure for removal of goods for certain purposes On intimation from PO, To send inputs/ capital Subsequently from registered taxable goods without payment there to another job person (“principal”) of tax to a jobworker worker etc. permitted Principal, after completion of jobwork or otherwise, can : • Bring back inputs/ capital goods (other than moulds and dies, jigs and fixtures, or tools) to any place of business without payment of tax for further supply within one year/ three years of their being sent out • Directly supply inputs/ capital goods (other than moulds and dies, jigs and fixtures, or tools) from jobworker premises on payment of tax within India or without payment of tax for export within one year/ three years of their being sent out www.ThesisScientist.comSec. 55: Special procedure for removal of goods for certain purposes Direct supply from jobworker premises not permitted unless such premise is declared as an additional place of business of the „principal Direct Supply is permitted if: • Jobworker is registered under the GST laws • Principal is engaged in supply of certain goods (to be notified) „Principal‟ is responsible for payment of tax and accountability of the goods. If inputs/ capital goods (other than moulds and dies, jigs and fixtures, or tools) are not received back by the principal within one or 3 years of their being sent out Deemed that such inputs/ capital goods had been supplied by principal to jobworker on the day when they were sent out Any waste/ scrap generated during jobwork may be supplied by jobworker directly from his place of business on payment of tax by jobworker if he is registered. If jobworker is unregistered, Principal will have to pay tax www.ThesisScientist.comECommerce www.ThesisScientist.comECommerce Sec. 56: Collection of TCS “Electronic Commerce” means supply of goods and/ or services including digital products over digital or electronic network “Electronic commerce operator” means any person who owns, operates or manages digital or electronic facility or platform for electronic commerce Section 8(4) provides that categories of services may be notified where tax shall wholly be paid by ecommerce operators. All provisions of the GST law shall apply to such ecommerce operators as if such persons is liable to pay tax Every ecommerce operator, not being an agent, has to collect 1 of net value of taxable supplies where consideration is to be collected by the operator Net value = aggregate value of goods/ services other than those notified u/s 8(4) made during the month less returns during the month www.ThesisScientist.comECommerce – Sec. 56: Collection of TCS Compliances for ecommerce operators TCS to be paid to credit of appropriate government; To furnish a statement of such outward supplies of goods and / or services, electronically Both payment and statement to be made/ filed within 10 days from the end of the month in which the collection is made Statement to contain details of amounts collected, supplierwise in respect of all supplies effected through the website / url of the ecommerce operator during the calendar month: Tax credit for the concerned supplier Amount remitted by ecommerce operator treated as tax paid by the supplier Supplier eligible to claim credit of the same in the electronic cash ledger. www.ThesisScientist.comECommerce – Sec. 56: Collection of TCS Verification of the statement filed by the ecommerce operator details of the supplies furnished by the ecommerce operator to be compared with corresponding outward supplies; Discrepancies, if any, to be communicated to both Discrepancy, if not rectified by supplier, to be added to output liability of supplier for the month succeeding the one in which the same was communicated. Additional powers to the tax office Any officer not below Joint Commissioner may call for details like supplies of goods and / or services, stock of goods etc. from supplier through notice Details to be furnished within 15 working days from the date of notice. For noncompliance, penalty of upto Rs. 25,000 www.ThesisScientist.comAssessments www.ThesisScientist.comAssessment : Meaning Types Assessment means determination of tax liability Types of Assessment Assessment Assessment of Self Scrutiny of unregistered Assessment Returns persons S. 57 S. 59 S. 61 Assessment Summary Provisional of nonfilers assessment in Assessment of returns certain special cases S. 58 S. 60 S. 62 www.ThesisScientist.comSelf Assessment Every Registered taxable person Himself assesses the tax payable Furnish the return for each tax period www.ThesisScientist.comProvisional Assessment Ambiguity in Value rate of tax Execution of security bond as may be prescribed Officer may permit to pay tax provisional basis. Final assessment to take place within six months The balance payable or refund due to be settled www.ThesisScientist.comScrutiny of Returns Scrutinize the return to verify the correctness Discrepancy noticed to be intimated On submission of acceptable explanation: No further action required Unsatisfactory explanation: Appropriate action will be initiated www.ThesisScientist.comBest Judgement Assessment Also called Assessment for Nonfilers of Returns Registered taxable person • fails to file returns and • fails to respond to notice Assessed by Proper Officer based on the information available to the best of his judgment On filing of return within 30 days on receipt of assessment order • Best Judgment order deemed to be withdrawn www.ThesisScientist.comAssessment of Unregistered Person Taxable person fails to take registration Assess to the best of his judgment Serving of show cause notice opportunity of personal hearing The assessment to be made with in 5 years from the due date for filing annual return www.ThesisScientist.comSummary Assessment Having evidence and delay may adversely effect the revenue In the interest of revenue and with due permission Application filed or on his own motion Addl. / Joint Commissioner If the order is erroneous; Addl./Joint Commissioner may withdraw such order www.ThesisScientist.comAudit under GST www.ThesisScientist.comWhat is Audit Section 2(14): “Audit” means : • examination of records, returns and other documents maintained or furnished by the taxable person under this Act or rules made thereunder or under any other law for the time being in force to verify, inter alia, • the correctness of turnover declared, taxes paid, refund claimed and input tax credit availed, and • to assess his compliance with the provisions of this Act or rules made thereunder www.ThesisScientist.comKinds of Audits under GST Audit by tax Special Audit authorities Annual Audit CAG Audit by CA/CWA www.ThesisScientist.comAudit by tax authorities Commissioner of CGST / SGST or any officer authorized Audit of taxable person At the place of taxable person or in their office Guidelines for audit Taxable person to provide the required information facility Result of audit to be intimated and further action will be taken www.ThesisScientist.comSpecial Audit Proceedings pending before Dy. / Asst. Commissioner Nature complexity of the case In the interest of revenue Correct value and eligible ITC Direct the taxable person to be subject to special audit Nominated by the Commissioner of CGST / SGST Time limit audit conclusion www.ThesisScientist.comAnnual Audit As per Section 53, every registered taxable person whose turnover during a financial year crosses the threshold limit shall get his accounts audited by • Chartered Accountant or • Cost Accountant Contents of the audit report Other particulars and reconciliation Time limit www.ThesisScientist.comCAG Audit Power of CAG to call for information On the request of CAG, the PO shall furnish information, records and returns required for the conduct of audit www.ThesisScientist.comDemand Recovery www.ThesisScientist.comDetermination of tax not paid or short paid or erroneously refunded Section 66: Applicable in case of nonpayment Section 67: Applicable in case of nonpayment or short payment of tax without fraud or or short payment of tax with fraud or willful willfulmisstatement. misstatement Proper officer to issue a Show Cause Notice in both cases Mere statement containing the nonpayment or short payment can be served for subsequent periods instead of detailed show cause notice, only if the grounds raised are identical to the ones raised in the previous year. Time limit for the proper officer to issue notice – Time limit for the proper officer to issue notice – at least 3 months prior to issuance of order at least 6 months prior to issuance of order Time limit for the proper officer to issue an order Time limit for the proper officer to issue an order is within three years from the due date / actual is within five years from the due date / actual date of filing of annual return. date of filing of annual return www.ThesisScientist.comDetermination of tax not paid or short paid or erroneously refunded Section 66: Section 67: No issue of Show Cause Notice where: Voluntary payment of Tax + Interest as per Voluntary payment of Tax + Interest as per section 45 made before issue of notice either section 45 + 15 of tax as penalty made before • As per the ascertainment of the defaulter or; issue of notice either • As per the ascertainment of the proper officer; • As per the ascertainment of the defaulter or; • As per the ascertainment of the proper officer; However amount paid as per the ascertainment of the defaulter falls short, the Department can issue a notice for the tax still payable. www.ThesisScientist.comDetermination of tax not paid or short paid or erroneously refunded Section 66: Section 67: Case where all proceedings are deemed to be concluded after issue of SCN: Payment of Tax + Interest as per section 45 made Payment of Tax + Interest as per section 45 within 30 days of issue of notice. No penalty +25 of tax as penalty made within 30 days of issue of notice Payment of Tax + Interest as per section 45 Payment of Tax + Interest as per section 45 +(10 of tax or Rs.10,000 w.e.h) as penalty +50 of tax as penalty made within 30 days of made after 30 days of issue of notice communication of order w.e.h means Whichever is Higher www.ThesisScientist.comGeneral provisions relating to demand of tax: Sec 68 Where the service of a notice or an issue of the order has been stayed by an order of a Court or Tribunal, such period of stay shall be excluded from the period of 5 or 3 years accordingly. When a notice has been issued under clause (1) of subsection (B) but the charges of fraud, suppression and misstatement of facts to evade tax are not sustainable or not established, the tax is to be determined only for the normal period of 3 years. Where any order is required to be issued in pursuance of direction of Tribunal/ Court, such order shall be issued within 2 years from date of communication of such order Opportunity of personal hearing has to be granted when requested in writing by the person chargeable with tax or where any adverse decision is proposed to be taken against the person. Personal hearing can be adjourned when sufficient cause is shown in writing. However, such adjournment can be granted for a maximum of 3 times www.ThesisScientist.comGeneral provisions relating to demand of tax: Sec 68 The relevant facts and basis of the decision shall be set out in the order. The amount of tax + interest + penalty shall not be more than what is mentioned in the order and the grounds shall not go beyond what is mentioned in the notice. When the Tribunal/ Court/ Appellate authority modifies the amount of tax, correspondingly interest and penalty shall also be modified. Interest shall be payable in all cases whether specifically mentioned or not. If the order is not issued within the time limits of 3/5 years then the proceedings shall be deemed to be concluded Where any amount of tax in accordance with a return furnished under section 34 remains unpaid, either wholly or partly, or any amount of interest payable on such tax remains unpaid, the same shall be recovered under the provisions of section 72. www.ThesisScientist.comTax collected but not deposited with the Central or State Government: Sec 69 Any amount collected as tax but not remitted to the Central/State Government is required to make the payment forthwith regardless of whether the related supplies are taxable or not. Proper Officer has to serve a notice The person is permitted to make representation against the notice served on him. The person is given an opportunity of being heard where a request is made by him in writing. The Proper Officer shall determine the amount due from the person and pass an order within one year from the date of issue of notice. There is no time limit to commence proceedings under this section. Under the present tax laws, similar provision exists in Central Excise Law(11D) , Customs Law (28B) as well as Service Tax Law (73A). Similar provision also exists in all most all the state VAT Acts www.ThesisScientist.comTax wrongfully collected and deposited with the Central or a State Government: Sec 70 Taxable person has paid CGST/SGST considering a transaction to be intrastate supply • Subsequently held to be interstate supply • Allowed refund of CGST/SGST paid, subject to conditions A taxable person who has paid IGST on a transaction considered by him to be an interstate supply • Subsequently held to be an intrastate supply • Not be required to pay any interest on the amount of CGST/SGST payable. As set off of CGST/SGST is not allowed against IGST, in case the supplier files refund application then, he may not get the refund due to the application of the principle of unjust enrichment. Furthermore, the subsequent payment of integrated GST may become a cost to the supplier who may not be able to recover the same from its receiver www.ThesisScientist.comInitiation of recovery proceedings: Sec 71 Amount payable in pursuance of an order passed shall be paid within a period of ninety days from the date of service of order In the interest of revenue, PO may require the taxable person to make such payment within a shorter period • Reasons to be recorded in writing www.ThesisScientist.comRecovery of Tax : Sec 72 Recovery modes to collect/recover any amount payable under GST laws but not paid: Adjust demand from any money under the control of the PO/ any specified officer to the taxpayer. Detain and sell any goods belonging to the taxpayer and under the control of the Proper Officer . Recovery from any other person who owns money to the tax payer by way of issue of notice Detain any movable or immovable property belonging to or under the control of the taxpayer to recover the amount due and sell it after 30 days in case of nonrecovery; Prepare a Recovery Certificate specifying the amount due and send it to the concerned district Collector in respect of the tax payer. The Collector shall then proceed to recover the amount specified there under from the tax payer as if it were an arrear of land revenue. File an application to the appropriate Magistrate, who shall then proceed to recover the amount specified thereunder from the taxpayer as if it were a fine imposed by him. www.ThesisScientist.comBar on recovery proceedings: Sec 73 Payment of tax and other amount in instalments: Sec 74 Sec 73: No recovery proceedings are to be initiated against the order of demand against which appeal is filed Sec 74: If a tax payer makes an application to either extend the time for payment or allow payment of any amount due (other than the amount due as per the liability selfassessed in any return) in monthly installments (not exceeding 24), the jurisdictional Commissioner/Chief Commissioner may, for reasons to be recorded in writing, allow to do so subject to payment of interest with such restrictions and conditions as may be prescribed. Default in payment of any one installment on its due date would result in the whole outstanding balance payable on such date becoming due and becoming payable forthwith and liable for recovery. www.ThesisScientist.comTransfer of property to be void in certain cases: Sec 75 Where a person, after any amount has become due from him, (i) creates a charge on or (ii) parts with his property by way of sale, mortgage, exchange or any other mode of transfer in favour of any other person with the intention of defrauding the government revenue, Charge or transfer shall be void as against any claim in respect of any tax or other sum payable by such tax payer. However, this provision shall not affect any such charge or transfer if it is made (i) for adequate consideration and without notice of the pendency of proceedings against/ amount(s) payable by the taxpayer, or (ii) with the previous permission of the tax officer www.ThesisScientist.comTax to be first charge on property: Sec 76 Amount payable by a taxable person on account of tax, interest or penalty shall be the first charge on the property of such person This provision also covers any other person since there are many provisions in the CGST Act, which provide for creating a liability or recovery from a person other than the taxable person like a legal representative, member of partitioned HUF etc. www.ThesisScientist.comProvisional attachment to protect revenue in certain cases: Sec 77 During the pendency of any proceedings, the jurisdictional Commissioner may order provisional attachment of any property, including bank account, belonging to the taxpayer • Manner prescribed • Order to be in writing If he is of the opinion that such provisional attachment is necessary for the purpose of protecting the interest of the Government revenue. Such provisional attachment shall cease to have effect after the expiry of 1 year from the date of the provisional attachment order. www.ThesisScientist.comContinuation and validation of certain recovery proceedings: Sec 78 Notice is served for recovery of government dues from a taxable person and upon any appeal, revision application there is : Enhancement of Govt. dues • Commission shall serve another notice on the taxable person, in respect of the enhanced amount. • If notice of demand is already served on taxable person before such appeal, revision or any other proceedings, then recovery of enhanced amount would be continued from the stage at which the initial proceedings stood. There is no need to issue a fresh notice of demand to the extent already covered by earlier notice. www.ThesisScientist.comContinuation of certain recovery proceedings: Sec 78 Reduction of Govt. dues • Commissioner not required to serve fresh notice of demand upon the taxable person. He shall intimate such reduction to taxable person and also to appropriate authority with whom recovery proceedings are pending • Any recovery proceedings are initiated prior to the disposal of such appeal, revision application or other proceeding may be continued in relation to the amount so reduced from the stage at which such proceedings stood immediately before such disposal www.ThesisScientist.comInspection, Search, Seizure Arrest www.ThesisScientist.comPower of Inspection, Search Seizure : Sec 79 For initiating the proceedings Joint Commissioner or any superior officer should have a „reason to believe‟ that the assessee has done any of the following: has contravened any of suppressed any upply information claimed excess input tax the statutory provisions transaction of supply of relating to stock in hand credit or of this act or rules made goods or services or or thereunder Then the Proper Officer can: Inspect: any place of business of Search Seize: the goods or Seal or Break: open the door of the assesse who has evaded the any documents or books or any premises, storage, box or tax or of the transporter who things which are liable for receptacle where goods, books transported such tax evading confiscation and which will be of accounts etc. are concealed goods or godown/warehouse instrumental in the proceedings and when access to the same is operator in which such tax under this act during the enquiry denied to the said officer evading goods or accounts period relating thereto has been stored. www.ThesisScientist.comPower of Inspection, Search Seizure : Sec 79 Custodian of seized documents is entitled to take photocopy or extract, in presence of GST officers. Seized goods shall be released on execution of bond/ furnishing security of such quantum as may be prescribed or on payment of applicable tax, interest and penalty The officer is bound to issue the notice within 6 months of such seizure else seized goods are liable to be returned • Competent authority may extend the notice period of 6 months for a further period of 6 months for sufficient causes Disposal permitted of goods which are of perishable or hazardous nature, or of depreciating value by passage of time or there is constrained for storage immediately after the seizure. Officer to maintain inventory of Goods seized. Provisions of Code of Criminal Procedure, 1973 relating to search and seizure to apply and powers conferred to „Magistrate‟ to be possessed by CGST/ SGST Principal Commissioner or Commissioner. www.ThesisScientist.comPower of Inspection Arrest : Sec 80 81 The Central Govt. or State Govt. may require the person in charge of the conveyance carrying any consignment of goods exceeding the specified value to carry prescribed documents which need to be produced for verification when vehicle is intercepted by Proper Officer. The person committing an offence of tax evasion or repletion of tax evasion (as provided u/s 92) may be arrested by officer on authorization from the Commissioner of CGST/SGST The person so arrested is required to be produced before magistrate within 24 hours in case of cognizable offences. In case of noncognizable and bailable offences the Assistant/Deputy Commissioner may grant the bail. www.ThesisScientist.comPower to issue Summons Access to Business premises : Sec 82 83 If deemed fit, any person may be summoned by authorized CGST/ SGST Officers either to give evidence or to produce a document or any other thing in any inquiry as considered necessary. For the purposes of carrying out any audit, scrutiny, verification and checks as may be necessary to safeguard the interest of revenue authorized CGST/ SGST Officers may access any business premises to inspect: books of a/c documents, computers, computer programs, computer software etc. and such other things as he may require and which may be available at such premises On demand by the audit officer/ CA/ CMA nominated by the Dept. for conducting the audit, the person needs to produce the records related to GST, trialbalance, audited financial reports, IT Reports etc. within 15 working days from the date of demand. All officers of other governmental dept. like Police, Revenue, Customs etc. are required to assist the CGST/SGST officers, if they are called upon to do so by Commissioner of CGST/SGST (sec 65). www.ThesisScientist.comOffences Penalties www.ThesisScientist.comOffences Penalties: Sec 85 Nature of Offence Prescribed Penalty • Supplies any goods without invoice • Issues invoice without supply of goods • Collects tax amount but does not pay the same into the appropriate government treasury Higher of following: • Collects tax in contravention of the Act 1. Rs. 10,000/; or • Fails to deduct or collect tax and also fails to pay it to the appropriate governments 2. An amount • Takes input tax credit without receipt of goods equivalent to the • Obtains refund by fraud amount of tax • Manipulates financial records evaded/not • Fails to get registered deducted/collected • Gives false information or input tax credit • Transports taxable goods without documents availed or • Fails to maintain books of accounts. distributed or • Fails to provide information and required documents. refund claimed in • Takes or distributes credit in violation the matter • Obstructs or prevents a officer in discharge of duty • Suppresses turnover • Tampers or destroys evidence • Disposes or tampers goods detailed or seized etc www.ThesisScientist.comOffences Penalties: Sec 85 Nature of Offence Prescribed Penalty • Registered taxable person repeatedly making short payment of tax. Higher of following: • Short payment of taxes in 3 returns during any 6 consecutive tax 1. Rs. 10,000/; or periods would be deemed to be an offence committed „repeatedly‟. 2. 10 of tax short paid • Applicable to any person who aids or abets any of the offences specified in clauses (i) to (xxi) of subsection 85(1); or • Who acquires possession of, or deals with any goods which he knows or has reason to believe are liable to confiscation; Rs. 25,000/ • Receives any supply of services in contravention • Fails to appear before GST officer to honour the summons; • Fails to issue invoice or record it www.ThesisScientist.comGeneral Discipline related to Penalty : Sec 87 No Penalty for minor breach/mistake where the tax involved is less than Rs. 5,000/ and are easily rectifiable. No penalty will be imposed without issuing SCN or giving personal hearing Penalty cannot be levied suomoto on contravention. Reasonable explanation needs to be provided by the Officer For voluntary disclosure of nonpayment of tax – consideration while levying penalty S87 will not apply, where the penalty is expressly prescribed under the Act as either a fixed sum or expressed as a fixed percentage www.ThesisScientist.comDetention, seizure and confiscation of goods and/ or conveyances: Section 89 90 Sec Nature of Offence Repercussion No. 89 Applicable to any person who: Detention/ seizure of goods and conveyance used • Transports or stores any goods while in transit in violation for transport of goods. Can be released on of provision of Act; or• payment of tax and penalty(100 of tax) where owner comes forward OR • In all other cases, Payment of tax and penalty (50 of value of goodstax paid) 90 Applicable to any person who: All such goods and/ or conveyance shall be liable to • Supplies/receives goods in contravention of any of the confiscation and the person shall be liable to provisions of this Act leading to evasion of tax; OR does penalty under section 85 not account for any goods on which he is liable to pay tax OR supplies goods liable to tax without having applied for Option to pay fine in lieu of confiscation the registration OR contravenes provisions of this Act with intent to evade payment of tax OR uses conveyance as means of transport for carriage of taxable goods in contravention of this Act www.ThesisScientist.comProsecution and Compounding of Offences www.ThesisScientist.comProsecution Compounding of Offences : Sec 92 PROSECUTION – Sec 92 • Provides for power to initiate legal proceedings against the offenders who commits any of the 13 enlisted offences • Offences include clandestine removal of goods, retention of collected taxes beyond 3 months, irregular availment or utilization of input tax credit, obtaining fraudulent refund, fabrication of financial records, abetment etc. Amount of Tax Evaded Period of Maximum without any specific and special reason as Imprisonment Fine recorded in the order by the court the term Exceeding Rs. 250 Lakhs 5 Yrs. and Fine of the imprisonment should not be less than 6 months. Exceeding Rs. 100 Lakhs upto Rs. 250 3 Yrs. and Fine Lakhs Exceeding Rs. 50 Lakhs upto Rs. 100 Lakhs 1 Yr. and Fine All offences are noncognizable and bailable except the cases where tax Commits/ abets in the commission of certain Imprisonment up to 6 evasion is more than Rs. 100 Lakhs. specified offences months and/ or fine In case of repetition of Offence 5 Yrs. and Fine www.ThesisScientist.comProsecution Compounding of Offences : : Sec 93, 94, 95 96 Offences under this Act to be tried only before the Court of Judicial Magistrate First Class or above only with prior approval of designated authority. (Sec 93) Obligation cast on the offender to prove the absence of mensrea, else its implied that offence committed intentionally with guilty mind. (Sec 94) Statement recorded during the course of investigation or enquiry relevant to prove the truthfulness of the facts when (Sec 95): • Made by person not available during proceedings • court admits that statement as evidence after examining the person making the statement as witness. Offence committed by Company : personincharge such as Director, Secretary, Manager etc., considered guilty and liable for punishment along with company Offence Committed by Partnership Firm, Limited Liability Partnership, Hindu Undivided Family or Trust : Partner/ Karta of Family/ Managing Trustee of the Trust deemed to be guilty. • If proved that person was unaware or took suitable precautions to prevent offence – No punishment www.ThesisScientist.comCompounding of Offences : Sec 97 Compounding is available only one time in respect of certain specified offences Compounding is not available for the subsequent time in respect of other offences and offences under SGST IGST, if in the previous compounding case, value of supplies exceeds Rs. 1 Crore. Compounding is not permissible in case the offence is also an offence under Narcotics Act, FEMA or any other law like IPC etc. A person convicted for an offence under this Act cannot apply for compounding A person accused of committing certain specified offences cannot apply for compounding Minimum Compounding amount = Rs. 10,000/ or 50 of tax involved whichever is higher. Maximum compounding amount = Rs. 30,000/ or 150 of tax whichever is higher www.ThesisScientist.comAdvance Ruling www.ThesisScientist.comApplication for Advance ruling – Sec: 113,114 116 AAR (Each State) 1 CGST + 1 SGST 2 Member Member Shall send copy, 1 may call records Prescribed form fees 3 w.r.t. specified Accept or questions only. Reject Prescribed Officer Applicant Reject after opportunity of Hearing Copy Not to admit if already before/decided by any Adjudicating or Appellate Authority. www.ThesisScientist.comProcedure for Advance ruling – Sec: 117 AAR 1 3 If members differs, refer to Opportunity of Appellate Hearing Authority 1 90 Days 2 Applicant Prescribed Officer/ Advance ruling on Jurisdictional Question in CGST/SGST Application Officer Copy www.ThesisScientist.comAppellate Authority for Advance ruling – Sec: 115 117 AAR 1 AAAR 1 Chief Commissioner 1 Commissioner CGST + SGST Within 90 days 2 Advance Ruling Or Decide no ruling can be issued 3 Applicant CGST/SGST Officer Copy to AAR www.ThesisScientist.comAppellate Authority for Advance ruling – Sec: 115 117 AAR 1 AAAR 1 Chief Commissioner 1 Commissioner CGST + SGST Within 90 days 2 Advance Ruling Or Decide no ruling can be issued 3 Applicant Copy to CGST/SGST Officer Note: Rulings pronounced will only have a AAR prospective effect www.ThesisScientist.comAppellate Authority for Advance ruling – Sec: 118 119 AAR Ruling within 30 days of Communication of Ruling Applicant Prescribed Officer or in Prescribed form CGST/SGST Officer No fees AAAR Within 90 days Hearing + Decision OR Note: Appellate Authority may allow further period of 30 days Decide no ruling can be issued www.ThesisScientist.comRectification of Advance ruling – Sec: 120 AAR or AAAR may rectify the ruling brought to its notice For mistake apparent from record. Either on own motion or if brought to notice by prescribed/ jurisdictional CGST/ SGST officer or applicant Opportunity of being heard if prejudicial to Applicant/ Appellant Rectify mistake apparent from record within 6 months of date of order Note: Not to amend substantive part of the order www.ThesisScientist.comApplicability of Advance ruling – Sec:121 Advance Ruling Binding on Jurisdictional tax Applicant Authority UNLESS Law, Facts, Circumstances have changed www.ThesisScientist.comRuling void ab initio – Sec: 122 If AAR/AAAR finds ruling obtained by the applicant /appellant by fraud / misrepresentation / suppression of facts. By order declare advance ruling as voidabinitio, after giving an opportunity of being heard Note: All provisions of the Act shall apply after excluding period in between date of ruling and this order www.ThesisScientist.comPower / Procedure of AAR/ AAAR– Sec: 123 124 Deemed to be civil court. Proceedings treated as judicial proceedings. Power to enforce attendance, examining on oath, issuing commission, compelling production of books/records. Power to regulate its own procedure www.ThesisScientist.comPresumption as to Documents www.ThesisScientist.comDocuments – Sec 125 If any of the following documents are tendered as evidence by prosecution, then the Court shall presume that contents of such document are truthful and is signed or handwritten by the particular person or is executed or attested by the person who is supposed to execute so. Documents seized from the Documents received from Documents produced by any custody or control of any outside India during the person under the Act; person under the Act; course of proceedings. www.ThesisScientist.comMicrofilms, FAX, Computer Printouts– Sec 126 Deemed Documents for purpose of the Act admissible under proceedings without requirement of production of original document: A microfilm document or reproduction of images contained in such microfilm; A facsimile (Fax) copy of document; Computer printed documents; Any information stored on device or media such as CD, Pen drive etc. or printout thereof. www.ThesisScientist.comMiscellaneous Provisions www.ThesisScientist.comDelegation Of Powers – Sec156 Instruction to GST Officers – Sec 157 Delegation Of Powers – Sec 156 The Competent Authority may, by notification in the Gazette may delegate the power exercisable by one Authority to another. Instruction to GST Officers – Sec 157 For maintaining uniformity in implementation of GST, Competent Authority may issue instructions and thereafter all the persons employed under the Act shall comply with such orders or instructions. No order requiring GST Officer to make a particular assessment in a particular manner; No order interfering the work of First Appellate Authority . www.ThesisScientist.comRemoval Of Difficulties– Sec 158 Rounding Off Tax– Sec 159 Removal Of Difficulties– Sec 158 To remove any difficulty, CG/ SG shall pass an order in official gazette. Order shall be passed upto 2 yrs. from the date on which such difficulty has arisen. Orders shall be presented before Parliament or State Legislature. Rounding Off Tax – Sec 159 Rounding off must be done for every part of the tax contained in the invoice. Applicable for assesse, department and appellate authorities. If amt. contains a part of the rupee Effect More than or equal to 50 paisa Must be increased to one rupee Less than 50 paisa Ignored www.ThesisScientist.comService of Notice – Sec 159 Directly or through a messenger to: Taxable Person, his authorized person i.e. manager, advocate, adult family member etc. Post or courier with acknowledgement due; SMS / facsimile/ email/ dashboard of taxpayer Publication in a newspaper circulating in the locality of taxpayer‟s last known residence or business; Affixing such communication at a place to attract attention at his last known address; In case none of the above modes seems practicable, affixing a copy on the notice board of the authority making such issue. Every communication shall be deemed to have been served on the date on which it is tendered/ published/ copy thereof is affixed. Communication through registered post shall be deemed to be received at normal period taken by such posts, unless the contrary is proved www.ThesisScientist.comPublication Of Rules And Notifications And Laying Of Rules Before Parliament/ State Legislature– Sec 162 All Rules made and notifications issued under the Act shall be published in the Official Gazette. Rules, notifications, orders made under specified sections, shall be laid before Parliament or State Legislature (in session) for a total period of 30 days. Above shall not include orders relating to goods or services or both of strategic, secret, individual or personal nature. www.ThesisScientist.comRepeal Saving – Sec 164 Clause relating to repeal/ saving ensures that rights, liabilities etc. created under old laws are intact. The (State) General Sales Tax/Value Added Tax Act, the Central Excise Act 1944, and the Central Excise Tariff Act 1985 will apply only in respect of goods included in the entry 84 and entry 54 of the Union List and the State List respectively Repealed Acts: • The Entry Tax Act,…………………... • The Entertainment Tax, …………………... • The Luxury Tax Act, …………………... • Duty of Excise on Medicinal and Toilet Preparation Act, ………… • Chapter V of the Finance Act, 1994. www.ThesisScientist.comTransitional Provisions www.ThesisScientist.comGeneral Provisions Officers under the existing laws to be subsumed into GST To be appointed as GST Officer / Competent Authority under the respective Act Provided they are continuing in office as on appointed day Central / State Government may issue order / make rules for smooth transition into GST www.ThesisScientist.comMigration of Existing Taxpayers to GST Every registered person under the earlier law having valid PAN will be issued a provisional registration certificate (PRC) Such PRC will be valid for six months or for such extended period Final RC will be issued by Central / State Government on furnishing of the prescribed information The PRC issued to a person not liable for registration under GST shall be deemed to have been cancelled upon filing application Person who is eligible to pay tax under composition scheme and who has been issued a PRC, may opt to pay composition tax in the time and manner prescribed. In case he does not pay tax under composition, he shall be liable to pay tax at usual rates www.ThesisScientist.comCarry forward of CENVAT Credit Registered Such credit Excess credit Credit can be Allowed carry taxable must be taken will be taken in the forward of Input person other eligible recovered as electronic tax/ CENVAT than under earlier arrears of tax credit ledger credit – through composition law and GST under GST a return (CGST) dealer law law www.ThesisScientist.comUnavailed CENVAT Credit on Capital goods A registered taxable Unavailed Credit on person, other than Capital Goods (as per Rule In the electronic credit composition dealer, shall 2(a) CENVAT Credit ledger be eligible to take the Rule,2004) not carried credit forward in a return Unavailed Credit = (Total Such credits must be Excess claim shall be eligible credit – credit eligible under the earlier recovered as arrears of tax availed) under the earlier law AND under GST law under GST law law www.ThesisScientist.comCredit of eligible duties and taxes on input held in stock Person eligible for input Credit available on Conditions tax credit • Goods must be used or intended to • Inputs held in stock and inputs • Person not liable to be be used for taxable supply registered under the earlier contained in semifinished goods or finished goods held in stock as law • The taxable person passes on the on appointed day benefit of such credit to recipients • Person engaged in by way of reduced prices Above benefit not manufacture/ sale of available for input • Eligible to take the credit under exempted goods, provision services GST law of exempted services • Such credit can be taken in the • Such person should be in • Person providing works electronic credit ledger possession of invoice or other contract service and prescribed document availing abatement under notification no. 26/2012 • Invoice or other document should be within 12 months from the • First/ Second stage dealer, appointed day importer • Excess claims will be recovered as arrears of tax under GST law www.ThesisScientist.comCredit of eligible duties and taxes on input held in stock A registered taxable person who was engaged in the manufacture of exempted and non exempted goods under Central Excise will be entitled to take the following amounts of CENVAT credit in his electronic credit ledger: Amount c/f in return furnished under earlier law Amount of eligible duties contained in inputs held in stock and inputs contained in semifinished goods/ finished goods held in stock on the appointed day relating to exempted goods/ services www.ThesisScientist.comCredit of eligible duties and taxes on inputs/ input services during transit CGST A registered taxable person is entitled to take credit in electronic credit ledger of eligible duties and taxes on inputs/ input services received on/ after the appointed day but the duty/ tax has been paid before the appointed day Condition: Invoice/ any other duty/tax paying document recorded in the books of accounts within 30 days from the appointed day SGST A registered taxable person shall be entitled to take credit in his electronic credit ledger of VAT and Entry tax on inputs received on/ after the appointed day but tax has been paid before the appointed day Condition: Invoice/ other tax paying document recorded in the books of accounts within 30 days from the appointed day www.ThesisScientist.comCredit of duties and taxes on inputs held in stock on switching over from composition scheme Person eligible for Credit available on Conditions input tax credit • A registered • Inputs held in stock and • Person not paying taxes under taxable person inputs contained in semi composition scheme under GST law finished goods or finished who was paying • Goods must be used for taxable tax under goods held in stock as on supply composition appointed day • Otherwise eligible to take the credit scheme Above benefit not under earlier law and under GST law available for input • Such person should be in possession services of invoice/ other prescribed • Such credit can be taken in document the electronic credit ledger • Invoices/ other prescribed document was not issued earlier than 12 months preceding appointed day www.ThesisScientist.comExempted goods returned to the place of business on or after the appointed day • Exempted goods were removed/ sold under the earlier law (not prior to six months from appointed day); • Such goods are returned to the said place of business within six months from the appointed day; and Tax not payable when • Such goods are identifiable to the satisfaction of proper officer • Goods are liable for payment of taxes under GST; and • Such goods are returned after six month from the appointed day Tax payable • Tax shall be payable by the person returning the goods when and by whom www.ThesisScientist.comDuty (Tax – SGST law) paid goods returned to the place of business on or after the appointed day • Duty/ tax paid goods were removed/ sold under the earlier law not being prior to six month from appointed day; • Such goods are returned to the said place of business within six months from the appointed day; and Tax not payable when • Such goods are identifiable to the satisfaction of proper officer • Goods are liable for payment of taxes under GST; and • Such goods are returned after six month from the appointed day Tax payable • Tax shall be payable by the person returning the goods when and by whom www.ThesisScientist.comInputs removed for Job work and returned on or after the appointed day Applicability Tax payable when and Tax not payable when of the by whom exemption Goods are liable for payment of taxes Goods were removed/ dispatched under GST; and as such or after partial processing for job work under the earlier law Such goods are returned after six Manufacturer and prior to appointed day; month from the appointed day; Job worker should declare details of Tax shall be payable by job inputs held in stock worker, if goods are returned after by the job worker Such goods are returned within six months or after the extended on behalf of the six months or within the period; manufacturer on the extended period (2 months) from Tax shall be payable by appointed day the appointed day to the said manufacturer , if goods are not factory/to the said place of returned within six months or business within the extended period www.ThesisScientist.comSemifinished goods removed for Job work and returned on or after the appointed day Tax not payable Tax payable when and by Applicability of when whom the exemption Goods are liable for payment of taxes under GST Semifinished goods were Such goods are returned after six removed/dispatched for month or extended period from the processing under the earlier appointed day Manufacturer and Job law prior to appointed day; worker should declare and; Tax shall be payable by person details of inputs held in returning the goods, if the goods are stock by the job returned after a period of six months worker on behalf of the Such goods are returned or extend period manufacturer on the within six months or within appointed day Tax shall be payable by manufacture the extended period (2 / person dispatching the goods, if the month) from the appointed goods are not returned within six day to the said factory/to the month or extended period said place of business www.ThesisScientist.comFinished goods removed for carrying out certain processes and retuned on or after the appointed day Dispatches of Tax not payable Tax payable when goods from other when and by whom premises Goods are liable for payment of taxes under GST; Finished goods were removed without payment of duty Manufacture or person /dispatched for processing Such Goods are returned after dispatching the goods may under the earlier law prior to six month or extended period transfer goods from such appointed day; and from the appointed day; and; other place within six month on payment of taxes in India or export without payment of tax Such goods are returned within Tax shall be payable by person six months or within the returning the goods; extended period from the appointed day www.ThesisScientist.comIssue of supplementary invoice, etc. where price is revised in pursuance of a contract Issue of supplementary Upward revision in the invoice or debit note Contract entered prior price within 30 days from to the appointed day such revision and price of goods and / or services is revised Issue of supplementary on or after the Downward revision in invoice or credit note appointed day the price within 30 days from such revision Note Taxable person shall be allowed to reduce his tax liability, if the recipient of invoice or credit note has reduced his input tax credit corresponding to such reduction of tax liability. www.ThesisScientist.comPending refund claims to be disposed off under earlier law Refund claim of duty/tax and interest and any other amount due under earlier law Application to be filed before the appointed day Refund proceeding will be in terms of earlier law other than Section 11B (2) of Central Excise Act, 1944 Eligible refund to be paid in cash and if fully or partially rejected; balance to lapse (CGST) Eligible refund to be paid in terms of provision of law and if fully or partially rejected; balance to lapse (SGST) www.ThesisScientist.comRefund claims filed in respect of goods/ services exported services not provided Goods/ services exported before/ after appointed day claim of refund of duty/ tax paid under earlier law filed after appointed day Disposed of in accordance with earlier law In case claim of refund rejected partly/ fully, amount rejected will lapse No refund allowed in cases where the same amount had been c/f as Cenvat credit under this Act as on the appointed day Services not provided, however tax deposited under earlier law claim of refund filed after appointed day Disposed of under earlier law Any amount that accrues eventually will be paid in cash www.ThesisScientist.comClaim of CENVAT Credit to be disposed off under the earlier law Proceedings of appeal revision, review or reference relating to claim of input tax / CENVAT credit will be disposed of in accordance with earlier law; Inadmissible Credit to be recovered as arrears of tax under GST law Not eligible for claim of input tax credit under GST law Admissible CENVAT credit to be refunded in cash (CGST) Admissible input tax credit to be refunded in accordance with provision earlier law (SGST) www.ThesisScientist.comFinalization of proceedings relating to output duty liability Proceeding of appeal revision, review or reference relating to any output duty liability initiated before appointed date disposed of in accordance with earlier law Any amount payable to be recovered as arrears of tax under GST law Not eligible for claim of input tax credit under GST law Admissible amount to be refunded in cash (CGST) Admissible amount to be refunded in accordance with provision of earlier law (SGST) www.ThesisScientist.comTreatment of the amount recovered or refunded in pursuance of assessment or adjudication proceedings Assessment or adjudication proceedings instituted under earlier law against recovery of tax, interest or penalty whether before or after the appointed day Amount payable to be recovered as arrears of tax under GST law Not eligible for claim of input tax credit under GST law Admissible amount to be refunded in cash (CGST) Admissible amount to be refunded in accordance with provision of earlier law (SGST) www.ThesisScientist.comTreatment of amount recovered or refunded pursuant to revision of return Recovered as arrears of tax under GST and such Amount payable on amount shall not be account of revision eligible for input tax credit Revision of return furnished under the earlier law Refunded in cash (CGST) Amount refundable on Refund in accordance account of revision with provision of law (SGST) www.ThesisScientist.comTreatment of long term construction / works contracts Goods and / or services supplied on or after appointed day Contract entered prior to the appointed day Liable for payment of taxes under the GST law www.ThesisScientist.comProgressive or periodic supply of goods or services Tax Shall not be payable if Duty or tax payable has Consideration is been already paid received prior to the under the earlier law appointed day ; and www.ThesisScientist.comTaxability of supply of goods and services in certain cases To the extent that point of Provisions to apply taxation arose before the notwithstanding anything appointed day, tax on goods contained in Time of Supply and services will be payable of Goods and Services under earlier law If portion of such supply not covered by this Section such portion liable to GST www.ThesisScientist.comCredit distribution of service tax by ISD (CGST) Input service distributor shall be eligible for distribution of credit Invoices for such services Services are received are received on or after prior to appointed day the appointed day www.ThesisScientist.comTransfer of unutilised Cenvat credit by a person having centralised registration Allowed to take Taxable person has credit of Cenvat c/f Obtained centralised in return furnished registration under registration under under earlier law in GST law earlier law electronic credit ledger For the period ending with the day immediately preceding the appointed day If the taxable person files an original/ revised return within 3 months of the appointed day Credit will be allowed if credit amount is reduced from that claimed earlier Note: 1. Only those credits which are admissible under GST laws will be allowed 2. Credit may be transferred to any registered taxable person having the same PAN for which centralised registration was obtained under earlier law www.ThesisScientist.comTax paid on goods/ capital goods lying with agent to be allowed as credit (SGST) Person eligible for input Credit available on Conditions tax credit Agent must be a registered taxable person under GST Any goods/ capital goods belonging to the Details of goods lying must be declared by the Agent and Principal; and Principal Agent is eligible for taking credit on tax paid Invoices pertaining to such goods goods must be within twelve months from the appointed day; and Such goods are lying at the premises of Agent as Principal either reversed or on the appointed day should not have availed credit www.ThesisScientist.comGoods sent on approval basis returned on or after the appointed day (SGST) • Goods sent on approval basis under earlier law prior to six months from the appointed day; • Such goods are returned within six months or within the extended period from the Tax not to be appointed date payable when • Goods are liable for payment of taxes under GST; and • Such goods are returned after six month or within the extended period from the appointed day • Tax shall be payable by person returning the goods, if the goods are returned after a Tax to be period of six months or extended period of time from the appointed day payable when • Tax shall be payable by person who has sent goods on approval basis, if the and by whom goods are not returned within the six months or extended period of time from the appointed day www.ThesisScientist.comDeduction of tax at source TDS shall not be made when Payment of such invoices Invoices are issued before is made on or after the the appointed day appointed day www.ThesisScientist.comAvailing credit in certain cases Credit can be Cenvat credit reclaimed if Input services reversed due to consideration is provided under nonpayment of paid within 3 consideration earlier law months from the within 3 months appointed day www.ThesisScientist.comImport of service or InterState supply of goods and / or services (IGST) Whether or not such transaction are initiated before the appointed day Tax shall be payable Only to the extent of payment not made under Import of services or the earlier law InterState supply of goods and/ or services If tax on such transaction Tax shall not be payable had been paid in full under the earlier law www.ThesisScientist.comIGST Provisions www.ThesisScientist.comPrinciples for Determining Supply of Goods and/or Services Sec 3 4 State X Intra State supply Location of supplier of Goods/ Services (State X) Supply in the course of State Y interstate trade or commerce Subject to provisions of Section 7,8,9,10 relating to place of supply of goods and/ or services www.ThesisScientist.comLevy and Collection of IGST – Sec 5 To be levied on all interstate supplies of goods and / or services Supplies to be in the course of inter State trade or commerce Value determined u/s 15 of CGST Act (Value of taxable supply) At the rates notified by CG – 5, 12, 18, 28 Rates not to exceed 28 To be paid by every taxable person IGST on goods imported will be levied and collected as per Section 3 of Customs Tariff Act at point when duties are levied on value determined as per the said Act CG has the power to specify the categories of supply of goods and/ or services on which RCM shall apply CG has power to specify categories of services on which tax will be paid by ecommerce operators as if such services are supplied by such operators www.ThesisScientist.comTransfer of ITC under IGST Sec 14 On utilization of IGST ITC for payment of CGST, IGST so utilised shall be transferred by Central Government from IGST account to CGST account On utilization of IGST ITC for payment of SGST, IGST so utilised shall be transferred by Central Government from IGST account to SGST account of the appropriate state IGST account shall get reduced to the said extent www.ThesisScientist.comProvisions of CGST ACT applicable to IGST Sec 17 Registration (Section 23, 24, 25, 26, 27) Valuation Time of supply of goods Section 12, Time of supply of services Section13 Change in rate of tax in respect of supply of goods or services (Section 14) Input tax credit and utilization thereof Section 16, 17, 18, 19, 20; Section 13, 14 of IGST Act also applies Distribution of input tax credit by ISD (Section 21) Job work (Section 55) Accounts and records (Sections 53, 54), Payment (Sections 44, 45) TDS at 2 of payment made/credited to supplier (Section 46) TCS at 2 of value of net supplies (Section 56) Return (Sections 32 43) www.ThesisScientist.comProvisions of CGST ACT applicable to IGST Sec 17 Audit (Section 63, 64, 65) Assessment (Sections 57 62) Adjudication (Section 66, 67), Demands (Sections 66, 67, 68, 69, 70), Refunds (48, 49) Interest Recovery of tax (Sections 71, 72, 73) Offences and penalties (Sections 85 91) Inspection (Sections 79, 80), Search and seizure (Sections 79) Prosecution and power to arrest (Sections 92), Compounding (Section 97) Appeals (Sections 98 108), Review Advance ruling and compounding (Sections 113 122) Note: No corresponding section for the term „review‟ is noticed under the Act. However this word has been used in conjunction with the word „appeal‟ and ‟revision‟ at many places under the Act. www.ThesisScientist.comPower to make Rules Sec 18 Power to make Rules lies with Central Government based on recommendation of GST Council Rules may be made for: a. Settlement of Cases (in accordance with Chapter XII) b. For prescribing all or any matters under provisions of IGST Act GST Council has powers given under Article 279A of the Constitution. www.ThesisScientist.comRefund of IGST wrongfully collected and deposited Sec 19 A taxable person has considered a supply to be interState supply and paid IGST on the same. The transaction is subsequently found to be intraState supply He will be granted refund of the amount of IGST paid Manner and conditions to be prescribed A taxable person has considered a transaction to be intraState supply and paid CGST/ SGST on the same. The transaction is subsequently held to be interState supply He is not required to pay interest on IGST payable www.ThesisScientist.comRefund of IGST paid on supply of goods to outbound tourist IGST paid on supplies to outbound tourists will be refunded if such goods are taken out of India • Conditions and safeguards to be prescribed • Refund allowed only if the goods which are supplied are obtained from a registered taxable person who has complied with all requirements, including those relating issue of invoices www.ThesisScientist.comImport of Services made on or after appointed day Sec 21 If Import of Services made after appointed day: Even if initiated If tax had been If tax had been paid in before appointed paid in full under part under earlier law, day, tax liability earlier law, no tax “balance amount of tax” under IGST under IGST under IGST www.ThesisScientist.comInter State supply of goods made after appointed day Sec 21 If Inter State supply of goods made after appointed day: NOTE : Even if initiated If tax had been 1. The words “Tax paid” appear to before appointed paid in full under mean “Tax admitted to be due”. day, tax liability earlier law, no tax 2. The word “received” used in the under IGST under IGST “Explanation” appears to mean “issued” per se Invoice. www.ThesisScientist.comClasses of Officers under IGST their Appointment Sec 22 23 There are 9 classes of officers with 17 officers and a general class. The Board is the only authority empowered to appoint officers under the Act. However, the Board may authorise specified Officer for appointing officers below the rank of Assistant Commissioner of IGST. The ranks of officer are illustrative and the Board may appoint other class of officers. The Board may appoint such persons as it may think fit to be officers under the IGST Act. The Board may authorize : a) Principal Chief Commissioner /Chief Commissioner b) Principal Commissioner / Commissioner c) Additional / Joint or Deputy /Assistant Commissioner to appoint officers of IGST below the rank of Assistant Commissioner of IGST Act www.ThesisScientist.comThank You For any Clarification, Please Contact Indirect Taxes Committee of ICAI Email: idtcicai.in, Website: www.idtc.icai.org www.ThesisScientist.com
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