presented by: ca. jayesh gogri on: 15 january, 2017 at: …bhayandercpe.org/image/gst.pdf ·...
TRANSCRIPT
Presented by:CA. Jayesh Gogri
On: 15th January, 2017At: Bhayander CPE Study Circle
Session Design…
Constitutional Aspects
Levy
Composition
Valuation
Rate of tax
Components of GST
Place of supply
Time of supply
2
…Session Design
Compliances
Audits
Assessments &Adjudication
Penalties
Remedial Measures
3
Models of GST across Globe
GST
Central GST
State GST
Dual GST
Concurrent DualGST
Non ConcurrentDual GST
4
GST MODEL ADOPTED BY INDIA
5
Tax on goods as well as service by Centre & State both simultaneously
Origin Based ConsumptionBased Destination
Tax
Non-concurrent Dual GST Model
6
Constitutionalaspects
Taxability
Componentsof GST
Classification
Place ofsupply
Time of supply
Rate of tax
Valuation
Provisionsdetermining
liabilityunder GST
7
Constitutionalaspects
Taxability
Componentsof GST
Classification
Place ofsupply
Time of supply
Rate of tax
Valuation
Provisionsdetermining
liabilityunder GST
8
Constitutional Framework…
Taxes levied by
Central Government State Governments
COI Article 265
No tax shall be leviedor collected except bythe authority of law
Article 246 of COI
Distributes oflegislative powersincluding taxation
9
…Constitutional Framework
Schedule VII enumerates three lists
No overlap between Union and State
10
Union List - List IUnion List - List I
Parliament
100 subjects
State List – List IIState List – List II
State Govt.
61 subjects
Concurrent list – ListIII
Concurrent list – ListIII
Both Union &States
52 subjects
• (1) Notwithstanding anything contained in articles246 and 254, Parliament, and, subject to clause (2),the Legislature of every State, have power to makelaws with respect to goods and services taximposed by the Union or by such State.
• (2) Parliament has exclusive power to make lawswith respect to goods and services tax where thesupply of goods, or of services, or both takes placein the course of inter-State trade or commerce
Article246A
Article246A
Constitutional Validity
11
Article 366
(12A) “goods andservices tax” meansany tax on supply ofgoods, or services orboth except taxes on
the supply of thealcoholic liquor for
human consumption
(26A) “Services”means anything
other than goods
Constitutional Amendments
12
Constitutional Amendments-Union List-Entry 84
Prior to 16th September, 2016Duties of excise on tobacco andother goods manufactured orproduced in India except-(a) alcoholic liquors for humanconsumption(b) opium, Indian hemp and othernarcotic drugs and narcotics,but including medicinal and toiletpreparations containing alcoholor any substance included in sub-paragraph (b) of this entry
W.e.f. 16th September, 2016Duties of excise on the followinggoods manufactured or producedin India, namely;(a) petroleum crude(b) high Speed diesel(c) motor spirit (commonly knownas petrol)(d) natural gas(e) aviation turbine fuel and(f) tobacco and tobacco products
13
Union List
92. Taxes on the sale orpurchase of newspapersand on advertisements
published therein
92C. Taxes on services
Constitutional Amendments-Union List
14
Entry 92 & 92C readas under is deleted
w.e.f. 16th
September, 2016
State List
52. Taxes on the entry of goodsinto a local area for
consumption, use or sale therein
55. Taxes on advertisementsother than advertisements
published in the newspapers andadvertisements broadcast by
radio or television
Constitutional Amendments-State List
15
Entry 52 and 55read as under aredeleted w.e.f. 16th
September, 2016
Constitutional Amendments-StateList-Entry 54
Prior to 16th September, 2016Taxes on the sale or purchaseof goods other thannewspapers, subject to theprovisions of entry 92A of List IEntry 92A: Taxes on the sale orpurchase of goods other thannewspapers, where such saleor purchase takes place in thecourse of inter-State trade orcommerce
W.e.f. 16th September, 2016Taxes on the sale of petroleumcrude, high speed diesel, motorspirit (commonly known aspetrol), natural gas, aviationturbine fuel and alcoholic liquorfor human consumption, but notincluding sale in the course ofinter-State trade or commerce orsale in the course of internationaltrade or commerce of such goods
16
Constitutional Amendments-StateList-Entry 62
Prior to 16th September, 2016Taxes on luxuries, includingtaxes on entertainments,amusements, betting andgambling
W.e.f. 16th September, 2016Taxes on entertainmentsand amusements to theextent levied and collectedby a Panchayat or aMunicipality or a RegionalCouncil or a District Council
17
GST
except taxes onthe supply ofthe alcoholic
liquor forhuman
consumption
SUPPLY of goodsor
services orboth
TAX
18
CompleteIntegration of
Goods and Servicesin one Legislature
Consumptionbased
destination tax
OVERVIEW OF GST MODEL LAW
19
Revised Model GST Law• 25 November, 2016
…Published documents
20
Framework of GST Model Laws
CGST/SGSTLaw Chapters
27Sections
197
21
IGST Law Chapters11
Sections24
Constitutionalaspects
Taxability
Componentsof GST
Classification
Place ofsupply
Time of supply
Rate of tax
Valuation
Provisionsdetermining
liabilityunder GST
22
LEVY, MEANING AND SCOPE OF SUPPLY
23
GST Components
24
TAXES TO BE SUBSUMED ANDCONTINUING TAXES
25
CGST
CentralExciseDuty
Additional Excise
Duty
Excise Dutyunder
Medical andToilet
Preparations Act, 1955Addition
alCustomsDuties
ServiceTax
Centralsurchage
s andCesses
26
27
SGSTSGST
VATVAT
CSTCST
Octroi/Entry tax
LBT
Octroi/Entry tax
LBT
PurchaseTax
PurchaseTax
LuxuryTax
LuxuryTax
Taxes onlottery,betting
andgambling
Taxes onlottery,betting
andgambling
Statesurchargesand Cesses
Statesurchargesand Cesses
EntertainmentTax (other
than levied bylocal bodies)
EntertainmentTax (other
than levied bylocal bodies)
Continuing Taxes
CentralGovernment
CentralGovernment
StateGovernment
StateGovernment
• Basic Customs Duty• Central Excise on: petroleum
crude, petrol, diesel, naturalgas, aviation turbine fuel,tobacco and tobaccoproducts
• Stamp Duty
• Basic Customs Duty• Central Excise on: petroleum
crude, petrol, diesel, naturalgas, aviation turbine fuel,tobacco and tobaccoproducts
• Stamp Duty
• Profession Tax• State Excise on Liquor• Stamp Duty• Land revenue• CST
• Profession Tax• State Excise on Liquor• Stamp Duty• Land revenue• CST
28
GoodsOutside
GST
Alcohol forHuman
Consumption
PetroleumCrude
High SpeedDiesel
AviationTurbine fuelNatural Gas
Tobacco andTobaccoproducts
Motor Spirit
29
Proposed Taxation of Goods outside GST Purview
Goods Production Sale
Alcohol – Completely Outside GST State Excise VAT
Petroleum Crude Central Excise VAT
High Speed Diesel Central Excise VAT
Motor Spirit Central Excise VAT
Natural Gas Central Excise VAT
Aviation Turbine fuel Central Excise VAT
Tobacco and Tobacco products Central Excise GST
30
CHARGING PROVISIONS
31
CGST/SGST Act – Section 8
There shall be levied a taxcalled CGST/SGST
On all Intra State Supplies ofgoods and/or services
On the value determinedunder Section 15
And at such rates as may benotified by CG/SG in thisbehalf, but not exceeding
14%, on the recommendationof the council
And collected in such manneras may be prescribed
32
IGST Act – Section 5
There shall be levied a taxcalled IGST
On all supplies of goodsand/or services in the course
of Inter State trade orcommerce
On the value determinedunder Section 15 of IGST Act,
2016
And at such rates as may benotified by the CG in thisbehalf, but not exceeding
28%, on the recommendationof Council in accordance with
provisions of this Act
33
Supply
Taxable Event in GST
35
SUPPLYSUPPLY
SUPPLY
SUPPLY
Supply??
FreeDistribution
BranchTransfer
Theft
Barter
36
Supply as per Model GST Law- Section 3
What iscovered in
supply?
What iscovered in
supply?
ScheduleI
Whether asupply is ofgoods or ofservices?
Whether asupply is ofgoods or ofservices?
ScheduleII
What is not asupply?
What is not asupply?
ScheduleIII
ScheduleIV
Powers of theGovernment
Powers of theGovernment
Concept ofComposite andmixed supply
Concept ofComposite andmixed supply
37
Taxable Event-Supply
38
Supply includes
All form of supplieswith consideration in
the course orfurtherance of business
Sale, transfer, barter,exchange, license,
rental, lease or disposal
Import of service withconsideration whetheror not in the course or
furtherance of business
Specific supplieswithout consideration
Schedule I
Consideration
39
‘Consideration’ in relation to the supply of goods or services includes:(a) Any payment made or to be made, whether in money or otherwise, inrespect of, in response to, or for the inducement of, the supply of goods orservices, whether by the recipient or by any other person but shall notinclude any subsidy given by the Central Government or a StateGovernment;(b) the monetary value of any act or forbearance, whether or notvoluntary, in respect of, in response to, or for the inducement of, thesupply of goods or services, whether by the recipient or by any otherperson but shall not include any subsidy given by the Central Governmentor a State Government;PROVIDED that a deposit, whether refundable or not, given in respect ofthe supply of goods or services shall not be considered as payment madefor the supply unless the supplier applies the deposit as consideration forthe supply
Is there any supply?
A doctor selling hispersonal car?
A Charteredaccountant selling
scrap ?
Use of a searchengine services,internet charges
paid to thetelecom service
provider?
40
Matters to be treated as supply even if madewithout consideration
Permanent transfer/disposal of business assetswhere credit has been availed on such assets
Supply between related persons or distinctpersons as specified in Section 10
Made in the course or furtherance of business
Supply of goods between Principal & Agent
Importation of services :from a related person or
from any of his other establishment outside India-in the course or furtherance of business
Schedule I
41
Distinct persons as specified in Section 10
42
A person who has obtained or is required to obtain more thanone registration, whether in one State or more than oneState, shall, in respect of each such registration, be treated asdistinct persons for the purposes of this Act
An establishment of a person who has obtained or is requiredto obtain registration in a State, and any of his otherestablishments in another State shall be treated asestablishments of distinct persons for the purposes of this Act
Principal – Agent
43
Agentundertakes to
supply goods onbehalf of the
principal
Agent – Principal
44
Agentundertakes to
receive goods onbehalf of the
principal
What is outside the purview?
• Employee to an employer• Court or Tribunal• Functions performed by Members
of Parliament, etc.• Chairperson/member/ director in a
body established by Government• Foreign diplomatic mission• Funeral, burial, etc
ScheduleIII
• Activities undertaken byGovernment
ScheduleIV
45
Constitutionalaspects
Taxability
Componentsof GST
Classification
Place ofsupply
Time of supply
Rate of tax
Valuation
Provisionsdetermining
liabilityunder GST
46
Definitions
47
“goods” means
every kind of movable property
other than money and securities
but includes actionable claim, growing crops, grass and thingsattached to or forming part of the land which are agreed to besevered before supply or under a contract of supply
Definitions
48
Explanation 2: Services does not include transaction in money other than an activity relating to the useof money or its conversion by cash or by any other mode, from one form, currency or denomination, to
another form, currency or denomination for which a separate consideration is charged
Explanation 1: Services include transactions in money but does not include money and securities
“services” means anything other than goods
Schedule II-Supply of goods…
Transfer of title/futuretransfer
Transfer of goodsforming part ofbusiness assets
Supply byclub/association tomembers
49
…Schedule II-Supply of goods
Person ceases to betaxable person
Goods forming part ofbusiness assets
Deemed to be supplied byhim in the course or
furtherance of his businessimmediately before his
cessation
Exceptions:•Transferred to another person as
going concern•Business is carried on by a
personal representative who isdeemed to be a taxable person
50
Schedule II-Supply of Services
Transfer of goods or right in goods without transfer of title in goods
Lease, tenancy of land/renting/licensing of immovable property
Job work
Goods put to private use whether for consideration or not
Construction
Temporary transfer or permitting use or enjoyment of IPRs
Development, design, programming, customisation, adaption, upgradation, enhancement, implementation of IT software
Agreeing to the obligation to do an act, tolerate an act or refrain from doing an act
Works contract
Transfer of right to use
Food supply
51
Taxable Event-Supply
52
CompositeSupply
CompositeSupply Mixed SupplyMixed Supply
Composite SupplyComprising of two or moresuppliesNaturally bundledIn the ordinary course ofbusinessOne of which is a principalsupplyTreated as a supply of principalsupply
Mixed SupplyComprising of two or moresuppliesSingle priceWhich is not a compositesupply
53
Concept of ‘composite’ and ‘mixed’ supply
Supply
54
Power toissue
notifications:
A supply ofgoods and notas a supply ofservices
A supply ofservices andnot as a supplyof goods
Neither asupply of goodsnor a supply ofservices
COMPOSITION
55
Composition Scheme
56
Aggregate T/O in previous FY < = 50 Lakhs
Pay amount in lieu of taxManufacturer – Min. 2.5%Other cases – Min. 1%
All registered taxable person having same PAN to opt forcompositionPermission stands withdrawn once aggregate T/O duringFY exceeds 50 LakhsNot to collect GSTNo ITC available
Composition Scheme not available to
Servicesupplier
Supplier ofNon-taxable
supplies
Supplier ofInter-State
Supplies
Vendor on E-com operator’splatform who is
required todischarge TCS
Manufacturerof notified
goods
57
Provisions determining liability under GST
Constitutionalaspects
Taxability
Componentsof GST
Classification
Place of supply
Time of supply
Rate of tax
Valuation
58
GST Components
59
Provisions determining liability under GST
Constitutionalaspects
Taxability
Componentsof GST
Classification
Place of supply
Time of supply
Rate of tax
Valuation
60
One rate?
Goods v. Services
State v. Centre
One State v. Another State
One service v. another service
61
Rate of Tax (RNR) - Sub-committee Report
13.91%
12.77%
26.78%
62
Rate of Tax (RNR)-Committee headed by CEA Dr. Arvind Subramanian
GST Rate
Lower Rate
12%
Standard Rate
17-18%(Depends on
exemptions/lowtaxation/Preciousmetal's taxation)
Higher/Demerit Rate
40% on luxury itemssuch as luxury cars,aerated beverages,paan masala and/ortobacco and tobacco
products
63
Band of Rates - Recommended by GST Council
GST Rates
64
Band of Rates - Recommended by GST Council
0% - Food grains
5% - Necessities
12% & 18% - Standard rates
28% - Sin goods and luxury items
Cess – Luxury Cars, Tobacco, Aerated Drinks etc.
Rates for Gold to be decided later
65
Rates
No details announced yet– Schedules– Services
– Exemptions– Abatements
66
Constitutionalaspects
Taxability
Componentsof GST
Classification
Place ofsupply
Time of supply
Rate of tax
Valuation
Provisionsdetermining
liabilityunder GST
67
Valuation
Valuation
TransactionValue
Inclusions
ValuationRules
68
Inclusions in Transaction Value…
Tax/ Duty/ Cesses/Charges /Fees levied under any Statute otherthan GST only when charged separately
Supplier is liable to pay but incurred by recipient but not included inprice
Incidental Expenses such as commission, packaging etc. includingany amount charged for anything done by supplier in respect ofsupply of goods and/or services at the time of or before delivery ofgoods or supply of services
69
…Inclusions in Transaction Value
Interest, late fees or penalty for delayed payment of considerationfor supply
Subsidies directly linked to the price excluding subsidies providedby Central and State Governments• Subsidy amount included in value of supply of supplier who
receives the subsidy
70
Discount/incentive
Discount/incentive
Post effecting supply = Include in TV
Exceptions
Established as per the agreementand is known at or before thetime of supply and specifically
linked to relevant invoices
ITC reversed by recipient as isattributable to discount on the
basis of document issued bysupplier
Before or at the time ofsupply = Exclude from TV
Duly recorded in theinvoice issued in respect
of the supply
71
Valuation
If value cannot bedetermined – Valuation
RulesSpecific value of notified supplies
72
Valuation Rules
Rule 3Transaction
ValueRule 4
Value byComparison
Rule 5Computed
Value MethodRule 6
ResidualMethod
Rule 7Rejection of
DeclaredValue
Rule 8Pure Agentand MoneyChanging
73
Valuation-Where there is no transaction value
ComparisonComparison
• Of like kind and quality• At or about the same time• Adjustments: pertaining to
different:• Dates• Commercial levels• Quantity levels• Composition, quality and
design• Freight and insurance
ComputationComputation
• Cost of production,manufacture, processing
• Charges for design or brand• Profit and general expenses
Reasonable basisReasonable basis
74
Constitutionalaspects
Taxability
Componentsof GST
Classification
Place ofsupply
Time of supply
Rate of tax
Valuation
Provisionsdetermining
liabilityunder GST
75
CST IGST
76
Inter-state supplies of Goods/Services– Sec 3 ofIGST
Supply ofGoods
Subject to Section7
Location ofsupplier and
place of supply indifferent States
Supply ofServices
Subject to Section9
Location ofsupplier and
place of supply indifferent States
77
Deemed Inter-state supplies– Sec 3 of IGST
Supply of goods in the course of import into the territory ofIndia till they cross the customs frontiers of India
Supply of services in the course of import into the territory ofIndia
Supply of goods and/or services, when the supplier is locatedin India and the place of supply is outside India
Supply of goods and/ or services to or by a SEZ developer or anSEZ unit
Any supply of goods and/or services in the taxable territory,not being an intra-State supply and not covered elsewhere
78
Intra-state supplies– Sec 4 of IGST…
Supply of Goods
Subject to Section 7Location of supplier andplace of supply in same
StatesExcept
supply of goods to or bya SEZ developer to or by
an SEZ unit
goods brought into Indiain the course of import
till they cross thecustoms frontiers
79
…Intra-state supplies– Sec 4 of IGST
Supply of Services
Subject to Section 9 Location of supplier and placeof supply in same States Except
supply of services to or by aSEZ developer or to or by an
SEZ unit
80
Location of Supplier of Goods
Unlike “Location of supplier of Service”, location of supplier ofgoods has not been defined
81
Sec. 7 of IGST Act – Place of Supply of Goods
Place of supply ofgoods
Place of supply ofgoods
Movement of GoodsMovement of Goods
Location of goods atthe time of
termination ofmovement for delivery
Location of goods atthe time of
termination ofmovement for delivery
Does not involvemovement of goods
Does not involvemovement of goods
Location of such goodsat the time of deliveryLocation of such goodsat the time of delivery
82
Sale in transit-Place of Supply?
83
Mr. A
West Bengal
Mr. C
Gujarat
SalePurchaser/AgentSupplier
Recipientof goods
Mr. B
By transfer ofdocument of title orotherwise before orduring movement of
goods
By transfer ofdocument of title orotherwise before orduring movement of
goods
Principal place ofbusiness?
Principal place ofbusiness?
Sec. 7 of IGST Act – Place of Supply of Goods
Assembled orinstalled at site• the place of such
installation or assembly
Where the goods aresupplied on board aconveyance• location at which such
goods are taken on board
84
What if place of supply of goods cannot bedetermined by foregoing Sections?
85
Sec. 8 of IGST Act – Import/Export Goods
Place of supply of goodsPlace of supply of goods
Imported into IndiaImported into India
Location of the ImporterLocation of the Importer
Exported from IndiaExported from India
Place outside IndiaPlace outside India
86
PLACE OF SUPPLY OF SERVICES
87
Place of supplyof services
General Rule(Residual)
Specific Rule(Preferred over
general)
88
General Rule
To registeredperson
Location of therecipient
To unregisteredperson
Address existson record
Location of therecipient
Address doesnot exist
Location of theprovider
89
Location of supplier of service means
• Location of such place of businessSupply from registeredplace of business
• Location of fixed establishmentSupply from unregistered
place of business, say, fixedestablishment
• Location of the establishment most directlyconcerned with provision of supply
Supply from more than oneestablishment (business or
fixed establishment)
• Location of usual place of residence ofsupplierOther cases
90
Location of recipient of service means
• Location of such place of businessSupply received at registeredplace of business
• Location of fixed establishmentSupply received at
unregistered place of business,say, fixed establishment
• Location of the establishment mostdirectly concerned with receipt of supply
Supply received at more thanone establishment (business or
fixed establishment)
• Location of usual place of residence ofrecipientOther cases
91
Domestic Place of supply
92
Immovable propertybased Performance based Training &
Performance appraisal Event
Transportation Services on board aconveyance
Telecommunicationservices including datatransfer, broadcasting,cable & DTH services
Banking and otherfinancial services
Insurance services Advertisement services Others
Import of services – Place of supply
93
Online informationand database accessor retrieval services
Performance based Immovable propertybased
Event Banking or financialservices
Intermediaryservices
Transportation Others
Place of effective use and enjoyment of services
94
To prevent doubletaxation or non-taxation or for
uniformapplicability of
rules
CG to notifyservices or
circumstances inwhich the place ofsupply shall be theplace of effective
use andenjoyment of a
service
Supplier
DistributorOverseas Supplier
Supplier
Distributor
Factory
Other statesOutside India
Import
Overseas Customer Export (Zero Rated)
Purchase
TrfinM
aha.
CGST+SGST
Purchase
IGST
Sale
CGST+
SGST
Sale
CGST + SGST
Warehouse
BCD - CostIGST - Credit
IndiaIndia
Maharashtra
Warehouse
CGST + SGST
SUPPLY CHAIN UNDER GST
TransferIGST
95
Constitutionalaspects
Taxability
Componentsof GST
Classification
Place ofsupply
Time of supply
Rate of tax
Valuation
Provisionsdetermining
liabilityunder GST
96
Time of supply
Time ofsupply
Goods(Sec. 12)
Services(Sec. 13)
97
COMPLIANCES
98
Compliances
Registration
Invoice
Payment
Returns
Records
Refunds
99
GSTCompliance
Rating
REGISTRATION
100
Registration
101
Only OnlineRegistration
MultipleRegistration
in one go
Transfer fromexisting
database
Registration (Section 23)
Registration
Mandatoryregistration
Optionalregistration
Voluntaryregistration
Suo Motoregistration
102
GSTIN
103
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
State CodeState Code
PANPAN
Registrationof vertical ofbusinesses0-9 and A-Z
Registrationof vertical ofbusinesses0-9 and A-Z
Blank forFuture UseBlank for
Future Use
PAYMENT
104
105
ElectronicLiability Ledger
ElectronicCreditLedger
ElectronicCash
Ledger
GST Payment
Last Date – 20thChallan format not yet prescribedAccounting codes not known– Goods vs. services– Product and Service specific codes– State specific codes
106
107
14 Digit Unique CPIN10digit + yymm
Data frozen and cannot bemodified
Valid for 7 days
Need to specify the modeof payment
GST Challan
RETURNS
108
GST Return
109
Return Purpose Due Date
GSTR 1 Outward Supplies 10th of next month
GSTR2 Inward Supplies 15th of next month
GSTR 3 Monthly Return 20th of next month
GSTR 4 Composite Dealer 18th of the month next quarter
GSTR 5 Non – Resident Dealers 20th of next month/quarter or within 7days of expiry of registration (whicheveris earlier)
GSTR 6 ISD 13th of next month
GSTR 7 TDS Return 10th of next month
GSTR 8 Annual Return 31st December of next FY
INPUT TAX CREDIT
110
Pre-requisites for claiming ITC (Sec. 16(11))
Possession ofTax Invoice, Debit Note,Tax paying document as
may be prescribed issuedby registered supplier
Possession ofTax Invoice, Debit Note,Tax paying document as
may be prescribed issuedby registered supplier
Receipt of goods/servicesReceipt of goods/services
Tax charged has beenpaid to the credit of
Govt.
Tax charged has beenpaid to the credit of
Govt.
Furnished the Return u/s34 (Monthly Return)
Furnished the Return u/s34 (Monthly Return)
111
Utilisation of ITC
ITCCGST
O.CGST
O. IGST
SGSTO. SGST
O. IGST
IGST O.CGST
O. SGST
O.IGST
112
OTHER IMPORTANT ASPECTS
113
Specific transactions
114
E-commerce
Jobworker
Principal –Agent
Imports-Exports
Specific compliances
115
TDS
TCSReverseCharge
Mechanism
Audits
Audits
Department toAppoint CA or
CMA64
Department toconduct Audit 63
Assessee toAppoint CA or
CMA53 (4)
116
Assessments
117
Selfassessment
Provisionalassessment
Scrutiny
Assessment ofnon-filers of
returns
Assessment ofunregistered
persons
Summaryassessment
Adjudication
Demand andrecovery
Adjudication
Audit
Search, seizureand arrest
Prosecution
118
Penalties (Section 85)…
119
Supply of goods/services without issue of invoiceIssues incorrect or false invoiceIssues invoice/bill without supply of goods/servicesCollection but non-payment of tax beyond 3 months from duedateFailure to deduct or pay TDS or less deduction of TDSFailure to collect or pay TCS or less collection of TCSTakes/utilises ITC without actual receipt of goods/servicesfully or partially
…Penalties (Section 85)…
120
Fraudulently obtains refundTakes/distributes ITC in violation of GST LawFalsifies or substitutes financial records or produces fakeaccounts/documents/information/return with intent to evadeGSTFails to obtain registrationFurnishes false information relating to registration particularsObstructs or prevents officer in discharge of his dutiesTransport taxable goods without cover of documents
…Penalties (Section 85)…
121
Supresses turnover leading to evasion of taxFails to keep, maintain or retain BOAs and other documentsFails to furnish information/documents called for by Departmentalofficer in accordance with provisions of GST Law or furnishes falseinformation/documents during proceedings under GST LawSupplies, transports or stores goods which he has reason to believeare liable to confiscationIssues invoice/documents by using identification number of anothertaxable personTampers with or destroys material evidencesDisposes off or tampers with detailed, seized or attached goods
…Penalties (Section 85)…
122
Penalty– Mala fide cases: Higher of following:
• 10,000/- or• 100% of tax
– Bona fide cases: Higher of following:• 10,000/- or• 10% of tax
…Penalties (Section 85)
123
Penalty: Max. 25,000/-Aids/abets in any of the said offencesAcquires possession of or in any way concerns himself intransporting, removing, depositing, keeping, concealing, supplyingor purchasing or in any other manner deals with goods which heknows or has reason to believe are liable to confiscationReceives or in any way concerned with supply of or in any othermanner deals with supply of services which he knows or has reasonto believe are in contravention of any provisions of GST LawFails to appear before GST Officer when issued with summon forappearance to give evidence/produce document in enquiryFails to issue invoice in accordance with GST law or fails to accountfor invoice in BOAs
…Penalties
124
GeneralPenalty: Max.
25,000/- Disciplines relatedto penalty
Remedial Provisions
Appeals
Advance Ruling
SettlementCommission
125
126
127
Our Offices:
West Region:2/19 Nityanand Nagar, Sahar Road,Andheri (East), Mumbai-400 069.
North Region:A-36, First Floor, Ring Road,Adjacent to Raja Garden Flyover,Rajouri Garden, New Delhi - 110 027
East Region:406A - 406B, 4th Floor, Todi Chamber,2, Lal Bazar Street, Kolkata - 700 001.
South Region:64, Thirumalai Pillai Road,T. Nagar, Chennai – 600 017.
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