R.K. Jain's GST Tariff of India | Set of 2 Volumes

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All disputes are subject to Delhi jurisdiction only.

Amendment of section 10.

FINANCE BILL 2023 1

FINANCE BILL, 2023 (RELEVANT EXTRACTS)

Central Goods and Services Tax

128. In the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the Central Goods and Services Tax Act), in section 10,—

(a) in sub-section (2), in clause (d), the words “goods or” shall be omitted;

(b) in sub-section (2A), in clause (c), the words “goods or” shall be omitted.

Amendment of section 16.

129. In section 16 of the Central Goods and Services Tax Act, in sub-section (2),—

(i) in the second proviso, for the words “added to his output tax liability, along with interest thereon”, the words and figures “paid by him along with interest payable under section 50” shall be substituted;

(ii) in the third proviso, after the words “made by him”, the words “to the supplier” shall be inserted.

Amendment of section 17.

130. In section 17 of the Central Goods and Services Tax Act,—

(a) in sub-section (3), in the Explanation, for the words and figure “except those specified in paragraph 5 of the said Schedule”, the following shall be substituted, namely:—

“except,—

(

i) the value of activities or transactions specified in paragraph 5 of the said Schedule; and

(ii) the value of such activities or transactions as may be prescribed in respect of clause (a) of paragraph 8 of the said Schedule”;

(b) in sub-section (5), after clause (f), the following clause shall be inserted, namely:—

“(fa) goods or services or both received by a taxable person, which are used or intended to be used for activities relating to his obligations under corporate social responsibility referred to in section 135 of the Companies Act, 2013 (18 of 2013);”

Substitution of new section for section 23.

131. For section 23 of the Central Goods and Services Tax Act, the following section shall be substituted and shall be deemed to have been substituted with effect from the 1st day of July, 2017, namely:—

“23. Persons not liable for registration.—Notwithstanding anything to the contrary contained in sub-section (1) of section 22 or section 24,—

(

(

a) the following persons shall not be liable to registration, namely:—

(i) any person engaged exclusively in the business of supplying goods or services or both that are not liable to tax or wholly exempt from tax under this Act or under the Integrated Goods and Services Tax Act, 2017 (13 of 2017);

(ii) an agriculturist, to the extent of supply of produce out of cultivation of land;

b) the Government may, on the recommendations of the Council, by notification, subject to such conditions and restrictions as may be specified therein, specify the category of persons who may be exempted from obtaining registration under this Act.”.

Amendment of section 37.

132. In section 37 of the Central Goods and Services Tax Act, after sub-section (4), the following sub-section shall be inserted, namely:—

“(5) A registered person shall not be allowed to furnish the details of outward supplies under sub-section (1) for a tax period after the expiry of a period of three years from the due date of furnishing the said details:

Provided that the Government may, on the recommendations of the Council, by notification, subject to such conditions and restrictions as may be specified therein, allow a registered person or a class of registered persons to furnish the details of outward supplies for a tax period under sub-section (1), even after the expiry of the said period of three years from the due date of furnishing the said details.”.

Amendment of section 39.

133. In section 39 of the Central Goods and Services Tax Act, after sub-section (10), the following sub-section shall be inserted, namely:—

“(11) A registered person shall not be allowed to furnish a return for a tax period after the expiry of a period of three years from the due date of furnishing the said return:

Provided that the Government may, on the recommendations of the Council, by notification, subject to such conditions and restrictions as may be specified therein, allow a registered person or a class of registered persons to furnish the return for a tax period, even after the expiry of the said period of three years from the due date of furnishing the said return.”.

Amendment of section 44.

134. Section 44 of the Central Goods and Services Tax Act shall be re-numbered as sub-section (1) thereof, and after sub-section (1) as so re-numbered, the following sub-section shall be inserted, namely:—

“(2) A registered person shall not be allowed to furnish an annual return under sub-section (1) for a financial year after the expiry of a period of three years from the due date of furnishing the said annual return:

Provided that the Government may, on the recommendations of the Council, by notification, and subject to such conditions and restrictions as may be specified therein, allow a registered person or a class of registered persons to furnish an annual return for a financial year under sub-section (1), even after the expiry of the said period of three years from the due date of furnishing the said annual return.”.

Amendment of section 52.

135. In section 52 of the Central Goods and Services Tax Act, after sub-section (14), the following sub-section shall be inserted, namely:—

“(15) The operator shall not be allowed to furnish a statement under sub-section (4) after the expiry of a period of three years from the due date of furnishing the said statement:

Provided that the Government may, on the recommendations of the Council, by notification, subject to such conditions and restrictions as may be specified therein, allow an operator or a class of operators to furnish a statement under sub-section (4), even after the expiry of the said period of three years from the due date of furnishing the said statement.”.

Amendment of section 54.

136. In section 54 of the Central Goods and Services Tax Act, in sub-section (6), the words “excluding the amount of input tax credit provisionally accepted,” shall be omitted.

Amendment of section 56.

FINANCE BILL, 2023 (RELEVANT EXTRACTS)

137. In section 56 of the Central Goods and Services Tax Act, for the words “from the date immediately after the expiry of sixty days from the date of receipt of application under the said sub-section till the date of refund of such tax”, the words “for the period of delay beyond sixty days from the date of receipt of such application till the date of refund of such tax, to be computed in such manner and subject to such conditions and restrictions as may be prescribed” shall be substituted.

Amendment of section 122.

138. In section 122 of the Central Goods and Services Tax Act, after sub-section (1A), the following sub-section shall be inserted, namely:—

“(1B) Any electronic commerce operator who—

(i) allows a supply of goods or services or both through it by an unregistered person other than a person exempted from registration by a notification issued under this Act to make such supply;

(ii) allows an inter-State supply of goods or services or both through it by a person who is not eligible to make such inter-State supply; or

(iii) fails to furnish the correct details in the statement to be furnished under sub-section (4) of section 52 of any outward supply of goods effected through it by a person exempted from obtaining registration under this Act, shall be liable to pay a penalty of ten thousand rupees, or an amount equivalent to the amount of tax involved had such supply been made by a registered person other than a person paying tax under section 10, whichever is higher.”.

Amendment of section 132.

139. In section 132 of the Central Goods and Services Tax Act, in sub-section (1),—

(a) clauses (g), (j) and (k) shall be omitted;

(b) in clause (l), for the words, brackets and letters “clauses (a) to (k)”, the words, brackets and letters “clauses (a) to (f) and clauses (h) and (i)” shall be substituted;

(c) in clause (iii), for the words “any other offence”, the words, brackets and letter “an offence specified in clause (b),” shall be substituted;

(d) in clause (iv), the words, brackets and letters “or clause (g) or clause (j)” shall be omitted.

Amendment of section 138.

140. In section 138 of the Central Goods and Services Tax Act,—

(a) in sub-section (1), in the first proviso,—

(i) for clause (a), the following clause shall be substituted, namely:—

“(a) a person who has been allowed to compound once in respect of any of the offences specified in clauses (a) to (f), (h), (i) and (l) of sub-section (1) of section 132;”;

(ii) clause (b) shall be omitted;

(iii) for clause (c), the following clause shall be substituted, namely:—

“(c) a person who has been accused of committing an offence under clause (b) of sub-section (1) of section 132;”;

(iv) clause (e) shall be omitted;

(b) in sub-section (2), for the words “ten thousand rupees or fifty per cent of the tax involved, whichever is higher, and the maximum amount not being less than thirty thousand rupees or one hundred and fifty per cent of the tax, whichever is higher”, the words “twenty-five per cent of the tax involved and the maximum amount not being more than one hundred per cent of the tax involved” shall be substituted.

Insertion of new section 158A.

141. After section 158 of the Central Goods and Services Tax Act, the following section shall be inserted, namely:—

“158A. Consent based sharing of information furnished by taxable person.— (1) Notwithstanding anything contained in sections 133, 152 and 158, the following details furnished by a registered person may,

(

FINANCE BILL, 2023 (RELEVANT EXTRACTS) iv subject to the provisions of sub- section (2), and on the recommendations of the Council, be shared by the common portal with such other systems as may be notified by the Government, in such manner and subject to such conditions as may be prescribed, namely:—

a) particulars furnished in the application for registration under section 25 or in the return filed under section 39 or under section 44;

(

b) the particulars uploaded on the common portal for preparation of invoice, the details of outward supplies furnished under section 37 and the particulars uploaded on the common portal for generation of documents under section 68;

(c) such other details as may be prescribed.

(2) For the purposes of sharing details under sub-section (1), the consent shall be obtained, of —

(

a) the supplier, in respect of details furnished under clauses (a), (b) and (c) of sub-section (1); and

(

b) the recipient, in respect of details furnished under clause (b) of sub-section (1), and under clause (c) of sub-section (1) only where such details include identity information of the recipient, in such form and manner as may be prescribed.

(3) Notwithstanding anything contained in any law for the time being in force, no action shall lie against the Government or the common portal with respect to any liability arising consequent to information shared under this section and there shall be no impact on the liability to pay tax on the relevant supply or as per the relevant return.”.

Retrospective exemption to certain activities and transactions in Schedule III to the Central Goods and Services Tax Act.

142. (1) In Schedule III to the Central Goods and Services Tax Act (12 of 2017), paragraphs 7 and 8 and the Explanation 2 thereof (as inserted vide section 32 of Act 31 of 2018) shall be deemed to have been inserted therein with effect from the 1st day of July, 2017.

(2) No refund shall be made of all the tax which has been collected, but which would not have been so collected, had sub-section (1) been in force at all material times.

Amendment of section 2.

Integrated Goods and Services Tax

143. In the Integrated Goods and Services Tax Act, 2017 (13 of 2017) (hereinafter referred to as the Integrated Goods and Services Tax Act), in section 2,—

(a) for clause (16), the following clause shall be substituted, namely:—

‘(16) “non-taxable online recipient” means any unregistered person receiving online information and database access or retrieval services located in taxable territory.

Explanation.—For the purposes of this clause, the expression “unregistered person” includes a person registered solely in terms of clause (vi) of section 24 of the Central Goods and Services Tax Act, 2017 (12 of 2017)’;

(

b) in clause (17), the words “essentially automated and involving minimal human intervention and” shall be omitted.

Amendment of section 12.

144. In section 12 of the Integrated Goods and Services Tax Act, in sub-section (8), the proviso shall be omitted.

CHAPTER V MISCELLANEOUS

FINANCE BILL, 2023 (RELEVANT EXTRACTS)

PART VI

AMENDMENT TO THE FINANCE ACT, 2001

Amendment of Seventh Schedule to Act 14 of 2001.

153. In the Finance Act, 2001, the Seventh Schedule shall be amended in the manner specified in the Sixth Schedule.

THE SIXTH SCHEDULE

[See section 153]

In the Seventh Schedule to the Finance Act, 2001, —

(i) for the entry in column (4) occurring against tariff item 2402 20 10, the entry “Rs. 230 per thousand” shall be substituted;

(

ii) for the entry in column (4) occurring against tariff item 2402 20 20, the entry “Rs. 290 per thousand” shall be substituted;

(

iii) for the entry in column (4) occurring against tariff items 2402 20 30 and 2402 20 40, the entry “Rs. 510 per thousand” shall be substituted;

(

iv) for the entry in column (4) occurring against tariff item 2402 20 50, the entry “Rs. 630 per thousand” shall be substituted;

(

v) for the entry in column (4) occurring against tariff item 2402 20 90, the entry “Rs. 850 per thousand” shall be substituted;

(

vi) for the entry in column (4) occurring against tariff item 2402 90 10, the entry “Rs. 690 per thousand” shall be substituted.

GST Tariff

GST Tariff

The Calculation of actual amount of tax payable under GST is based on two factors. Firstly, the rate of tax and secondly, value of supply (Goods or Services). The rate of tax multiplied by the value of supply, divided by 100, is the amount of the tax payable under the GST, of course subject to Compensation Cess, if applicable.

For computing the amount of tax under GST, the following 6 steps are required to be taken :

— Find the HSN code for goods as given in the Commodity Index (Page 2069) and locate the applicable rate of GST from the seven schedService Codes (SAC) for supply of services, see the list of Service Codes given in Part 3 of this Tariff.

— There are four types of GST which are leviable on goods and services. On supplies of goods and services, supplies of goods and services, you have to pay a single tax, i.e., IGST. In addition,

(1) In case, supply of your goods is exempted from CGST as per schedule ofspective authorities. Similarly, if your annual turnover is below ` exemption.

(2) Threshold Exemption — There is a threshold limit of ` ` ` 10 lakhs as the case may be below which GST on supply of goods or services or both is neither payable nor any registration is required.

(3) Composition Scheme — If you are working under composition scheme for Intra-State supplyplying alcoholic liquor) where the rate of composition levy is 2½% CGST and 2½% SGST. Composition SGST) having an Annual Turnover in the preceding Financial Year up to ` 50 lakhs. This scheme is not applicable on Inter-State supplies.

— On the basis of the HSN code and Service Code (SAC), the actual rate at which GST is payable may be worked out, for different types of transactions, in the following manner :

(a) Intra-State (within State) supply of Goods. — For other taxable supplies of goods, GST has to be paid on making supply. For intra-State supplies, you have to pay two types of GST viz.

(b) Inter-State (Outside State) supply of Goods. — For Inter-State supply of goods, only one GST, i.e., IGST has to be paid. For rates please see seven Schedules with IGST rate of 5%, 12%, the applicable rate against description of goods supplied by you. Goods which are neither

(c) Cess on Goods. — For Compensation Cess on some goods viz. Pan Masala, aerated water, CGST or SGST as the case may be.

(d) Intra-State (within State) supply of services. — For Intra-State supply of services rates of-

(e) Inter-State (Outside State) supply of services. — For Inter-State supply of services, only one -

(f) Cess on services. — Compensation Cess is also payable on services of transfer of rights in CGST as the case may be.

— As per the provisions of the value on the basis of which the GST is payable.

(2) Inclusions in Transaction Value — Broadly, transaction value will include all taxes, duties, cess, fees and charges levied under any act, except GST law (including compensation cess); any incidental pay which has been incurred by the recipient and is not included in the price like freight; subsidies linked

(3) Exclusion from Transaction Valuecluded from transaction value.

— The value of supply of goods -

Based on above position of law, the illustration below will make the concept very clear :

(a) If discount is not known at the time of supply, no deduction thereof will be permitted from assessable value at the time of supply.

(b) Incidental expenses include all expenses connected with supply viz. packing, commission, loading, unloading, insurance, etc.

SECTION I LIVE ANIMALS; ANIMAL PRODUCTS

1. Any reference in this Section to a particular genus or species of an animal, except where the context otherwise requires, includes a reference to the young of that genus or species.

2. Except where the context otherwise requires, throughout this Schedule, any reference to “dried” products also covers products which have been dehydrated, evaporated or freeze-dried.

CHAPTER 1

This Chapter covers all live animals except :

»

– Nil

– Nil

Horses:

Pure-bred breeding animals .........u

Other:

Horses for polo ..............u

Other ..................u 12%Nil

Asses:

Pure-bred breeding animals ........uNilNilNilNil

Livestock ................uNilNilNilNil

Other ..................uNilNilNilNil

Other:

Mules and hinnies as livestock .......uNilNilNilNil

Other ..................uNilNilNilNil

» Nil IGST – Nil CGST – Nil SGST/UTGST

Refers to Chapter/Heading/Sub-heading/Tariff Item of the Customs Tariff.

other related matters - See Part 2 of this Tariff.

Central CGST State/UT SGST/ UTGST

Inter-State IGST ‡ Compensation Cess

Bulls ..................uNilNilNilNil

Cows ..................uNilNilNilNil

Other:

Bulls ..................uNilNilNilNil

Other, including calves ..........uNilNilNilNil

Pure-bred breeding animals ........uNilNilNilNil

Other ..................uNilNilNilNil

Other:

Pure-bred breeding animals ........uNilNilNilNil

Other ..................uNilNilNilNil

» Nil IGST – Nil CGST – Nil SGST/ —

Pure-bred breeding animals ........uNilNilNilNil

Other: ..........uNilNilNilNil ..........uNilNilNilNil

» Nil IGST – Nil CGST – Nil SGST/ —

Sheep including lamb for breeding purpose ..uNilNilNilNil

Other ..................uNilNilNilNil

Goats ..................uNilNilNilNil

» Nil IGST – Nil CGST – Nil SGST/ — Vide .....uNilNilNilNil

Turkeys .................uNilNilNilNil

Ducks ..................uNilNilNilNil

Geese ..................uNilNilNilNil

Guinea fowls ...............uNilNilNilNil

Primates

Whales, dolphins and porpoises (mammals of the order mana tees and dugongs (mammals of the order seals, sea lions and walruses (mammals of the suborder )

Camels and other camelids

Rabbits and hares

Other

Reptiles (including snakes and turtles)

Birds:

Birds of prey

Psittaciformes (including parrots, parakeets, macaws and cockatoos)

Other

Bees:

Pureline stock

Other

Other:

Pureline stock

Exemption to Small Taxpayers with annual turnover up to

to the Government, local authority or to a Government entity in relation to an activity entrusted to Panchayat or Municipality is exempted from whole of the CGST

Exemption to supplies to or by Canteen Stores Department (CSD) —

Goods and services received by a TDS deductor from unregistered supplier - Exemption —

Second hand goods received by registered person from unregistered supplier - Exemption —

Old and used motor vehicles - Concessional Rate of tax —

Export supplies - Concessional Rate of tax —

Leasing of motor vehicles - Concessional Rate of tax —

The above exemptions for CGST also hold good for SGST/UTGST as GST Rates and Exemptions are uniform throughout —

to the Government, local authority or to a Government entity in relation to an activity entrusted to Panchayat or Municipality is exempted from whole of the IGST

Exemption to supplies to or by Canteen Store Department (CSD) —

Export supplies - Concessional Rate of tax —

Leasing of motor vehicles - Concessional Rate of tax —

Old and used motor vehicles - Concessional Rate of tax —

SEZ - Exemption to import of goods and services by a unit or developer in SEZ —

Skimmed milk powder and concentrated milk - Exemption from tax —

Exemption to supply of goods by a retail outlet established in the departure area of an international airport, beyond the immigration counters, to an outgoing international tourist, from the whole of the Integrated Tax —

In case the consignee/recipient taxpayer stores his goods in the godown of the transporter, then the transporter’s godown has to be declared as an additional place of business by the recipient taxpayer. In such cases, mere declaration by the recipient taxpayer to this effect with the concurrence of the transby the recipient taxpayer, the transportation under the e-way bill shall be deemed to be concluded once the goods have reached the transporter’s godown (recipient taxpayer’ additional place of business). Hence, e-way bill validity in such cases will not be required to be extended.

place of business of the recipient taxpayer, to any other premises of the recipient taxpayer then, the relevant provisions of the e-way bill rules shall apply. Hence, whenever the goods move from the transporter’s godown (i.e., recipient taxpayer’s additional place of business) to the recipient taxpayer’s any other place of business, a valid e-way bill shall be required, as per the

to goods stored at the transporter’s godown (i.e., the recipient taxpayer’s additional place of business) by the recipient taxpayer may be maintained by him at his principal place of business.—

Inter-state movement of various modes of conveyance, between be treated “neither as a supply of goods nor supply of service” and therefore would not be leviable to IGST.

where movement of such goods is for further supply of the same goods, such inter-state movement shall be treated ‘neither as a supply of goods nor supply of service,’ and consequently no IGST would be applicable on such movements. However, applicable CGST/SGST/IGST, as the case may be, is leviable on repairs and maintenance done for such goods.

Inter-state movement of machinery like tower cranes, rigs, batching plants, concrete pumps and mixers which are not mounted on wheels, but require regular means of conveyance (used by companies in Infrastructure business) for provision of service on own account by a service provider, where no transfer of title in such goods or transfer of goods to the distinct person by way of stock transfer is not involved, does not constitute a supply of such goods. Therefore, any such movement on own account (not involving distinct person in terms of section 25), where such movement is not intended for further supply of such goods does not constitute a supply and would not be liable to GST.

The goods which are taken for supply on approval basis can be moved from the place of business of the registered supplier to another place within the same State or to a place outside the State on a delivery challan along with the e-way bill wherever where the supplier carries goods from one State to another and supplies them in a different State, will be inter-state supplies

The original/ are the same as those imported by the company at concessional rate. The importer is required to maintain records and should used, not merely for public display/study/conservation but for amusement purposes, by v An appeal against this order was partly Laterals/parts to be used solely or Section Note and Chapter Notes to HSN, shall attract GST as applicable to the respective heading.

—The art work for supply on approval basis can be moved from the place of business of the registered person (artist) to another place within the same State or to a place outside the State on a delivery challan along with the e-way bill wherever applicable and the invoice may be issued at the time of actual supply of art work.

Supplies of the art work from one State to another State will be inter-State supplies and attract integrated tax in terms art works are sent to the gallery for exhibition and therefore, the same is not a supply. It is only when the buyer selects a particular art work displayed at the gallery, that the actual supply takes place and applicable GST would be payable at the time of such supply.

R.K. JAIN'S GST TARIFF OF INDIA

SET OF 2 VOLUMES

AUTHOR : R.K. JAIN

PUBLISHER : TAXMANN

DATE OF PUBLICATION : FEBRUARY 2023

EDITION : 17th Edition

ISBN NO : 9789391055073

NO.OF PAGES : 2218

BINDING TYPE : PAPERBACK

DESCRIPTION

This book provides complete details about the taxability & GST rates for goods & services. It also includes a ready reckoner for GST rates, GST Notifications, Advanced Rulings & Case Laws. Lastly, it incorporates basic details, such as:

• How to use GST Tariff?

• How to Calculate Tax under GST

• Introduction to GST Tariff

• Classification of Goods & Services under GST

• Interpretative Rules, as applicable to GST Tariff

• List of Abbreviations used in the Tariff

The Present Publication is the 17th Edition and has been amended as on 1st February 2023. This book is authored by R.K. Jain and edited by CA (Dr) Arpit Haldia. It consists of nine parts.

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