Aino Communique Febhvj.co.in/Magazines/Feb-18.pdf · 2018-02-23 · PF Monthly payment and Return...

HVJ COMMUNIQUE – FEB 2018

VOLUME 14

MONTHLY COMMUNIQUE

Dear Professional Colleagues,

Effective Networking isn't a result of luck

Howes

Networking and Relationship Building

profession it is essential to maintain cor

the course of our day-to-day professional activities we interact with governmental agencies

and key regulators on a day-

work – life balance too!

Keeping bonds of relationship strong is of quite essential importance. A good Relationshipis not when two 'Perfect people' come together; it is when two 'Imperfect people' learn toenjoy the differences. Learn the wisdom of compromisethan to break a relationship forever. Thanks to the social network, the internet andwhatsapp; it’s much easier to stay in touch.

We are pleased to bring out our 52nd edition ofthe latest significant tax and financial developments of last month.

The Finance Budget, 2018 was presented by Finance Minister ShriArunJaitley in theLokaSabhaon 1st February, 2018. Tbudget are given in the subsequent pages.

MCA - With the rapid development in the macro level of Indian economy, the ministry ofcorporate affairs has come out with schemes to make easier the starting of any business,The company can be started with Zero fee, with so much simplified procedure, retime and without even the DIN.Service (Reserve unique name) where in the procedure to reserve name has been madeeasier and also can be done without filing a form or use a DSC.

GST – Has got ample changes like introduction of enotifications etc.

We hope you find this journal is informative and of continued interest. We welcome your

feedback at Communique@ainog

With warm Regards,

CA. SudheerJavali

On behalf of HVJ Team!!

Determination determines your destination!

MONTHLY COMMUNIQUE

Dear Professional Colleagues,

Effective Networking isn't a result of luck - it requires hard work and persistence

Relationship Building are key point for every professionals. For our

profession it is essential to maintain cordial ties every friend, family or acquaintance. In

day professional activities we interact with governmental agencies

-to-day basis. It becomes necessity for us to have a healthy

Keeping bonds of relationship strong is of quite essential importance. A good Relationshipis not when two 'Perfect people' come together; it is when two 'Imperfect people' learn toenjoy the differences. Learn the wisdom of compromise - It is better to bthan to break a relationship forever. Thanks to the social network, the internet andwhatsapp; it’s much easier to stay in touch.

We are pleased to bring out our 52nd edition of HVJ COMMUNIQUE which summarizestax and financial developments of last month.

The Finance Budget, 2018 was presented by Finance Minister ShriArunJaitley in theon 1st February, 2018. The highlights of the tax proposal introduced in the

budget are given in the subsequent pages.

With the rapid development in the macro level of Indian economy, the ministry ofcorporate affairs has come out with schemes to make easier the starting of any business,The company can be started with Zero fee, with so much simplified procedure, retime and without even the DIN. The MCA, in its amendment rules has also launched RUNService (Reserve unique name) where in the procedure to reserve name has been madeeasier and also can be done without filing a form or use a DSC.

mple changes like introduction of e-way bill, decrease in GST rates, many


[email protected]

Determination determines your destination!

Page1 of 25

it requires hard work and persistence – Lewis

are key point for every professionals. For our

dial ties every friend, family or acquaintance. In

day professional activities we interact with governmental agencies

day basis. It becomes necessity for us to have a healthy

Keeping bonds of relationship strong is of quite essential importance. A good Relationshipis not when two 'Perfect people' come together; it is when two 'Imperfect people' learn to

It is better to bend a little, ratherthan to break a relationship forever. Thanks to the social network, the internet and

COMMUNIQUE which summarizes

The Finance Budget, 2018 was presented by Finance Minister ShriArunJaitley in theoposal introduced in the

With the rapid development in the macro level of Indian economy, the ministry ofcorporate affairs has come out with schemes to make easier the starting of any business,The company can be started with Zero fee, with so much simplified procedure, reduced

The MCA, in its amendment rules has also launched RUNService (Reserve unique name) where in the procedure to reserve name has been made

way bill, decrease in GST rates, many


MONTHLY COMMUNIQUE

Calendar Month Overview

Statutory Due Dates In the month of February

Foreign Exchange Fluctuation

Stock Market Fluctuation

Commodity Market Fluctuation

New Notification / Circulars / Amendments

Union Budget Highlights 2018

Income Tax & TDS

Goods and Service Tax (GST)

The Companies Act, 2013

Director General of Foreign Trade

Monthly Articles

Article 1:Monthly Article I: Incorporation Of Companies as per

Companies Amendment Act,2017 & Companies (incorporation)Amendment Rules, 2018

Article 2: Major Amendments in Goods & Service Tax, 2017

Compendium

Knowledge has ab

MONTHLY COMMUNIQUE

Page No.

ue Dates In the month of February 20183

Foreign Exchange Fluctuation3

t Fluctuation3

Commodity Market Fluctuation3

/ Amendments

Union Budget Highlights 2018-19

Goods and Service Tax (GST)

Companies Act, 2013

Director General of Foreign Trade (DGFT)

Monthly Article I: Incorporation Of Companies as per

Companies Amendment Act,2017 & Companies (incorporation)

Major Amendments in Goods & Service Tax, 2017

Compendium

Knowledge has abeginning but no end!

Page2 of 25

4

6

6

8

9

10

13

MONTHLY COMMUNIQUE

Statutory

Due Dates In the month of February

Particulars

TDS/TCS TDS payment

Issue of TDS certificateTDS Deducted under Sec 194

Form 24 G (Other than salary cases)

TDS deducted for payments other than salaries

PF Monthly payment and Return filing

ESIC Monthly payment and return filing

PT Monthly payment and return filing

Goods & Service Tax(GST)

GSTR

GSTR

GSTR

Foreign Exchange Fluctuations

Currency As on 31st Dec 2017

USD 63.9273

GBP 86.0653

EURO 76.3867

Stock Exchange Fluctuations

Stock Exchange As on 31st

2017BSE Sensex 34,056.83

Nifty 10,530.70

Commodity Market (MCX) FluctuationsCommodity As on 31

Gold (10 grams) 22carat

29,156.00

Silver (1 kg)


MONTHLY COMMUNIQUE

ue Dates In the month of February 2018

Nature of payment/Return Filing

TDS payment

TDS Deducted under Sec 194-IA & Sec 194 IB

Form 24 G (Other than salary cases)

TDS deducted for payments other than salaries

Monthly payment and Return filing

Monthly payment and return filing

Monthly payment and return filing

GSTR- 3B for the month of January-18

GSTR-1 for the Quarter Oct- Dec 2017 (<1.5 Cr)

GSTR-1 for the month of Dec 2017 (>1.5 Cr)

Foreign Exchange Fluctuations

Dec 2017 As on 31st Jan 2018 Change

63.6878 0.239

90.3539 4.2886

79.2149 2.8282

Stock Exchange Fluctuations

Dec As on 31st Jan 2018

34,056.83 35,965.02

10,530.70 11,027.70

CX) FluctuationsAs on 31st Dec 2017 As on 31st Jan 2018

29,156.00 28,550

38,700 42,200


Page3 of 25

Due date

7th Feb

14th Feb

15th Feb

15th Feb

15th Feb

15th Feb

20th Feb

20th Feb

15th Feb

10th Feb

0.2395

2886

2.8282

Change

1,908.19

497

Change

606.00

3,500.00


MONTHLY COMMUNIQUE

The Finance Budget, 2

LokaSabha on 1st Fe

introduced in the budge

Direct Taxes

Individual:

1.Standard Deduction

reimbursement and con

Medical Reimbursemen

2.Hike in deduction lim

Rs. 30,000 to Rs. 50,00

3.Increase in deduction

60,000 (in case of seni

Rs. 1 lakh for all senior

4.Exemption of interes

from Rs. 10,000 to Rs.

Companies:

1. Domestic Companie

crores in Financial year

MONTHLY COMMUNIQUE


Sabha on 1st Fe

Standard Deduction

reimbursement and con


Hike in deduction lim

Rs. 30,000 to Rs. 50,00

Increase in deduction


Rs. 1 lakh for all senior

f interes

from Rs. 10,000 to Rs.

Domestic Companie



Hike in deduction lim

Increase in deduction


f interes

Domestic Companie

018 was presented by Finance Minister ShriArunJaitley in t

bruary, 2018. Following are th

t.

of Rs 40,000 for salaried employees

veyance

t of Rs 15,000 under Section 17(2) are benefit withdrawn.

it for health insurance premium and/ or medical expenditure from

0 under section 80D.

limit for medical expenditure for certain critical illness from Rs.

or citizens) and from Rs. 80,000 (in case of very senior citizens) to

citizens, under section 80DDB.

t income on deposits with banks and post offices to be increase

50,000 to senior citizens u/s 80TTA.

s having total turnover or gross receipts not exceeding Rs 250

2016

Union Budget 2018

018 was presented by Finance Minister ShriArunJaitley in t

bruary, 2018. Following are the highlights of the tax proposal

of Rs 40,000 for salaried employees in respect of medical

veyance. However benefit of transport allowance of Rs 19,200 and



0 under section 80D.



citizens, under section 80DDB.

t income on deposits with banks and post offices to be increase

50,000 to senior citizens u/s 80TTA.


6-17 shall be liable to pay tax at 25%.

Union Budget 2018-19

Page4 of 25

018 was presented by Finance Minister ShriArunJaitley in the

e highlights of the tax proposal

in respect of medical

nefit of transport allowance of Rs 19,200 and





t income on deposits with banks and post offices to be increased


MONTHLY COMMUNIQUE

2. Difference between Stamp Duty Value and Actual cons

seller and buyer u/s 50C, 43CA and 56. It is now provided that if the difference is not

more that 5% of consideration the provision

3. Section 80P provides for 100 percent ded

Society which provide assistance to its members engaged in primary agricultural

activities.It is proposed to extend similar benefit to Farm Prod

having a total turnover uptoRs 100 Crore.

4. At present, under section 80

to normal deduction of 100% in respect of emoluments paid to eligible new employees who

have been employed for a minimum period of 240 days during the year. However, the

minimum period of employment is relaxed to 150 days in the case of apparel industry. In

order to encourage creation of new employment, it is proposed to extend this relaxation to

footwear and leather industry.

Trust:

Provision of section 40 (ia) and 40 A(3) and 40A(3A) Cash payment exceeding Rs. 10,000/

are being made applicable to Charitable Trust . Hence expenditure incurred without

deduction of TDS and in cash will not be eligible as

10(23C) and section 11(1)(a).

General changes applicable to all assesses:

1. Long term Capital gain exemption under section 10(38) in respect of listed STT paid

shares being withdrawn. Tax on LTCG

more than Rs. 1,00,000. However sale upto 31/1/2018 not covered. Further gains

accrued till 31/1/2018 not taxable if sale upto 31/7/18.

2. Education cess and Secondary Higher education of 3% gets replaced by 4% Health

and Education cess and

3. Income Distribution Tax payable by Equity Oriented Mutual Funds @10%

4. E assessments will be done across the country for removing person to person

interface.

Indirect Taxes:

1. No significant indirect tax changes as gst has

2. Custom duty on mobile phones increased to 20% and some mobile and tv parts to

15% to promote make in india.

Employee’s provident fund:

Women employees’ contribution limit reduced to 8% under the Employees

Provident Fund and Miscellaneous Pro

MONTHLY COMMUNIQUE

Difference between Stamp Duty Value and Actual consideration is taxable for both


more that 5% of consideration the provisions shall not be attracted.

Section 80P provides for 100 percent deduction in respect of profit of Cooperative

ociety which provide assistance to its members engaged in primary agricultural

activities.It is proposed to extend similar benefit to Farm Producer Companies (FPC),

having a total turnover uptoRs 100 Crore.

At present, under section 80-JJAA of the Act, a deduction of 30% is allowed in addition


loyed for a minimum period of 240 days during the year. However, the



and leather industry.

Provision of section 40 (ia) and 40 A(3) and 40A(3A) Cash payment exceeding Rs. 10,000/


deduction of TDS and in cash will not be eligible as application of income under section

General changes applicable to all assesses:

Long term Capital gain exemption under section 10(38) in respect of listed STT paid

shares being withdrawn. Tax on LTCG-STT paid will be applicabl


accrued till 31/1/2018 not taxable if sale upto 31/7/18.

Education cess and Secondary Higher education of 3% gets replaced by 4% Health

and Education cess and Secondary Higher education cess.

Income Distribution Tax payable by Equity Oriented Mutual Funds @10%

E assessments will be done across the country for removing person to person

No significant indirect tax changes as gst has included most.

Custom duty on mobile phones increased to 20% and some mobile and tv parts to

15% to promote make in india.

Employee’s provident fund:


Provident Fund and Miscellaneous Provisions Act.

Page5 of 25

ideration is taxable for both


uction in respect of profit of Cooperative

ociety which provide assistance to its members engaged in primary agricultural

ucer Companies (FPC),

JJAA of the Act, a deduction of 30% is allowed in addition


loyed for a minimum period of 240 days during the year. However, the



Provision of section 40 (ia) and 40 A(3) and 40A(3A) Cash payment exceeding Rs. 10,000/-


application of income under section

Long term Capital gain exemption under section 10(38) in respect of listed STT paid

STT paid will be applicable at 10% if gains


Education cess and Secondary Higher education of 3% gets replaced by 4% Health

Income Distribution Tax payable by Equity Oriented Mutual Funds @10%

E assessments will be done across the country for removing person to person

Custom duty on mobile phones increased to 20% and some mobile and tv parts to


MONTHLY COMMUNIQUE

Income Tax& TDS

Processing of income-tax returns under section 143(1) of the Incomefiled in Forms ITR-l to 6 & applicability of section 143(1)(a)(vi)of income, prescribes that the total incomfor addition of income appearing in Form 26AS or Form 16A or Form 16 (the three Forms)which has not been included in computing the total income in thCBDT has issued Instruction No .(s) 9/2017 dated 11.lD. 2017 & 10/2017 dated 15.11.2017for identification of instances in which section 143(1)(a)(vi) of the Act may be invoked by CPCITR, Bengaluru on the basis of information con

http://www.incometaxindia.gov.in/communications/circular/circular1_2018.pdf

Case Study: John Baptist Lasrado vs. Income Tax Settlement Commission (T.S.Sivagnanam J.)with respect to 234BWhere duty is cast upon payer to pay tax at source, on failure, no interest can be imposed onpayee/assessee. Thus, in respect of salary income earned by assessee an employee of amultinational company outside India, employer abroad having paid interest un201(1A) for not deducting tax at source, assessee would not be liable for payment of interestunder section 234B

Goods & Service TaxEffective Rate Of Tax Under Composition Scheme(Notification No. 1/2018- Central Tax dated 1st January 2018)With the effect from 1st January, 2018Prescribed effective rate of tax under composition scheme formanufacturers and other suppliers i.e. 0.5% CGST. EarlierComposite tax shall be paid on entire Turnover (Exempted + Taxable + Nil) now the same shallbe substituted with the words “half per cent of the turnover of taxable supplies of goods”.http://www.cbec.gov.in/resources//htdocsEnglish.pdf

Late fees for filing Form GSTR(Notification No. 4/2018 – Central Tax dated 23January, 2018, Late fees for filing GSTRfor rest (Payable or Carry forward ITC) it is Rs.25 per day per tax.

http://www.cbec.gov.in/resources//htdocsEnglish.pdf

Late fees for filing Form GSTR(Notification No. 5/2018 – Central Tax dated 23rd January 2018January, 2018Late fees for filing GSTRtax & for rest) it is Rs.25 per day per tax.http://www.cbec.gov.in/resources//htdocsEnglish.pdf


MONTHLY COMMUNIQUE

tax returns under section 143(1) of the Income-tax Act which werel to 6 & applicability of section 143(1)(a)(vi)While processing the return

of income, prescribes that the total income or loss shall be computed after making adjustmentfor addition of income appearing in Form 26AS or Form 16A or Form 16 (the three Forms)which has not been included in computing the total income in the retur

No .(s) 9/2017 dated 11.lD. 2017 & 10/2017 dated 15.11.2017for identification of instances in which section 143(1)(a)(vi) of the Act may be invoked by CPCITR, Bengaluru on the basis of information contained in the ITR Forms 1 to 6.


: John Baptist Lasrado vs. Income Tax Settlement Commission (T.S.with respect to 234B

Where duty is cast upon payer to pay tax at source, on failure, no interest can be imposed onpayee/assessee. Thus, in respect of salary income earned by assessee an employee of amultinational company outside India, employer abroad having paid interest un201(1A) for not deducting tax at source, assessee would not be liable for payment of interest

Goods & Service TaxEffective Rate Of Tax Under Composition Scheme

Central Tax dated 1st January 2018)January, 2018

Prescribed effective rate of tax under composition scheme formanufacturers and other suppliers i.e. 0.5% CGST. EarlierComposite tax shall be paid on entire Turnover (Exempted + Taxable + Nil) now the same shall

substituted with the words “half per cent of the turnover of taxable supplies of goods”.http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-1-2018-central_tax

Late fees for filing Form GSTR-1Central Tax dated 23rd January 2018)With the effect from 23

Late fees for filing GSTR-1 in case of nil return it is Rs.10 per day per tax &rest (Payable or Carry forward ITC) it is Rs.25 per day per tax.

http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-4-

Late fees for filing Form GSTR-5Central Tax dated 23rd January 2018)With the effect from 23

Late fees for filing GSTR-5 in case of nil CGST payment it is Rs.10 per day perper day per tax.

http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-5-2018-central_tax


Page6 of 25

tax Act which wereWhile processing the return

e or loss shall be computed after making adjustmentfor addition of income appearing in Form 26AS or Form 16A or Form 16 (the three Forms)

e return. In this regard,No .(s) 9/2017 dated 11.lD. 2017 & 10/2017 dated 15.11.2017

for identification of instances in which section 143(1)(a)(vi) of the Act may be invoked by CPC-tained in the ITR Forms 1 to 6.


: John Baptist Lasrado vs. Income Tax Settlement Commission (T.S.

Where duty is cast upon payer to pay tax at source, on failure, no interest can be imposed onpayee/assessee. Thus, in respect of salary income earned by assessee an employee of amultinational company outside India, employer abroad having paid interest under section201(1A) for not deducting tax at source, assessee would not be liable for payment of interest

Composite tax shall be paid on entire Turnover (Exempted + Taxable + Nil) now the same shallsubstituted with the words “half per cent of the turnover of taxable supplies of goods”.

central_tax-

With the effect from 23rd

1 in case of nil return it is Rs.10 per day per tax &rest (Payable or Carry forward ITC) it is Rs.25 per day per tax.

-2018-central_tax-

With the effect from 23rd

5 in case of nil CGST payment it is Rs.10 per day per

central_tax-


MONTHLY COMMUNIQUE

E-way bill made compulsory from(Notification No. 74/2017-Central Tax, Dated 29E-way bill would be applicable from February 01, 2018 as recommended by GSTCouncil.http://www.cbec.gov.in/resources//htdocs

Late fees for filing Form GSTRWith the effect from 23rd January, 2018January 2018)Late fees for filing GSTRtax & for rest) it is Rs.25 per day per tax.

http://www.cbec.gov.in/resourEnglish.pdf

Late fees for filing Form GSTRWith the effect from 23rd January, 2018January 2018)Late fees for filing GSTRtax.http://www.cbec.gov.in/resources//htdocsEnglish.pdf

Time limit for furnishing the return by an Input ServiWith the effect from 23rd JanuaJanuary 2018)Hereby extends the time limit for furnishing the return by an Input ServiceDistributor in FORM GSTR-6 for the period July 2017 to FebruarMarch, 2018.


Common Goods and Service Tax Electronic Portal for facilitating registration, paymentof tax,etc.

Hereby notifies www.gst.gov.in as the Common Goods and Services Tax Electronic Portal forfacilitating registration, payment of tax, furnishing of returns and computatioof integrated tax and www.ewaybillgst.gov.in as the Common Goods and Services TaxElectronic Portal for furnishing electronic way bill.


(Notification No. 5/2018-Seeks to exempt Central Government’s share of Profit Petroleum from Central tax.effect from 25th January, 2018

http://www.cbec.gov.in/resources//htdocs


MONTHLY COMMUNIQUE

way bill made compulsory from February 01, 2018Central Tax, Dated 29-12-2017)Govt. has notified that

way bill would be applicable from February 01, 2018 as recommended by GST

http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-74-central-tax

Late fees for filing Form GSTR-5AJanuary, 2018(Notification No. 6/2018 – Central Tax dated 23

for filing GSTR-5A in case of nil IGST payment it is Rs.10 per day pertax & for rest) it is Rs.25 per day per tax.


Late fees for filing Form GSTR-6January, 2018(Notification No. 7/2018 – Central Tax dated 23

)Late fees for filing GSTR-6 is Rs.25 per day perhttp://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-7-2018

Time limit for furnishing the return by an Input Service DistributorWith the effect from 23rd January, 2018 (Notification No. 8/2018 – Central Tax dated 23January 2018)Hereby extends the time limit for furnishing the return by an Input Service

6 for the period July 2017 to February 2018 till the 31


s and Service Tax Electronic Portal for facilitating registration, payment

Hereby notifies www.gst.gov.in as the Common Goods and Services Tax Electronic Portal forfacilitating registration, payment of tax, furnishing of returns and computatioof integrated tax and www.ewaybillgst.gov.in as the Common Goods and Services TaxElectronic Portal for furnishing electronic way bill.


- Central Tax (Rate) dated 25th

Seeks to exempt Central Government’s share of Profit Petroleum from Central tax.January, 2018

http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-05-2018-cgst

http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-05-2018-igst

Page7 of 25

2017)Govt. has notified thatway bill would be applicable from February 01, 2018 as recommended by GST

tax-english.pdf

Central Tax dated 23rd

5A in case of nil IGST payment it is Rs.10 per day per

central_tax-


6 is Rs.25 per day per2018-central_tax-


January 2018)Hereby extends the time limit for furnishing the return by an Input Servicey 2018 till the 31st day of

central_tax-

s and Service Tax Electronic Portal for facilitating registration, payment

Hereby notifies www.gst.gov.in as the Common Goods and Services Tax Electronic Portal forfacilitating registration, payment of tax, furnishing of returns and computation and settlementof integrated tax and www.ewaybillgst.gov.in as the Common Goods and Services Tax

central_tax-

January 2018)Seeks to exempt Central Government’s share of Profit Petroleum from Central tax.With the

cgst-rate-english.pdf

igst-rate-english.pdf

MONTHLY COMMUNIQUE

(Notification No. 1/2018 – Integrated Tax dated 23No. 11/2017-Integrated Tax dated 13.10.2017 for crossprocessing and grant of refund

http://www.cbec.gov.in/resources//htd

(Notification No. 6/2018- Integrated Tax (Rate) dated 2525th January, 2018Seeks to exempt royalty and license fee from Integrated tax to the extent itis paid on the consideration attributable to royalty and license fee included in transactionvalue under Rule 10(1)(c) of Customs Valuation (Determination of value of imported Goods)Rules, 2007.


Clarifications regarding levy of GST on accommodation services, betting and gambling incasinos, horse racing, admission to cinema, homestays, priCircular No. 27/01/2018-GST dated 04th January 20182018


Clarification on supplies made to the Indian Railways classifiable under any chapter, otherthan Chapter 86Circular No. 30/4/2018

With the effect from 25th January, 2018

Conclusion: it is hereby clarified that

• only the goods classified under Chapter 86, supplied to the railways attract 5% GST ratewith no refund of unutilised input tax credit and

• other goods [falling in any other chapter], would attract the general applicable GST rates tosuch goods, under the aforesaid notifications, even if supplied to the railways.


Refer to Monthly Article

The Companies Act, 2013The Companies Amendment Act, 2018

The Companies Amendment Act, 2018 has amended the rules with regard to incorporation likeRUN and Zero Incorporation Fee, etc.

http://www.mca.gov.in/Ministry/pdf/CompaniesIncorporationAmendmentRules2018_25012018.pdf

Refer to Monthly Article

MONTHLY COMMUNIQUE

Integrated Tax dated 23rd January 2018)Amendment of notificationIntegrated Tax dated 13.10.2017 for cross-empowerment of State tax officers for

processing and grant of refund

http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-1-2018-igst-english.pdf

Integrated Tax (Rate) dated 25th January 2018)With the effect fromSeeks to exempt royalty and license fee from Integrated tax to the extent it

eration attributable to royalty and license fee included in transactionvalue under Rule 10(1)(c) of Customs Valuation (Determination of value of imported Goods)


Clarifications regarding levy of GST on accommodation services, betting and gambling incasinos, horse racing, admission to cinema, homestays, printing, legal services etc.

GST dated 04th January 2018) With the effect from 04th January,

http://www.cbec.gov.in/resources//htdocs-cbec/gst/circularno-27-gst.pdf

Clarification on supplies made to the Indian Railways classifiable under any chapter, otherCircular No. 30/4/2018-GST dated 25th January 2018

January, 2018

rified that

• only the goods classified under Chapter 86, supplied to the railways attract 5% GST ratewith no refund of unutilised input tax credit and

• other goods [falling in any other chapter], would attract the general applicable GST rates togoods, under the aforesaid notifications, even if supplied to the railways.

http://www.cbec.gov.in/resources//htdocs-cbec/gst/circularno-30-cgst.pdf

Monthly Article – 2 for details of the notification….

The Companies Act, 2013The Companies Amendment Act, 2018

The Companies Amendment Act, 2018 has amended the rules with regard to incorporation likeRUN and Zero Incorporation Fee, etc.

http://www.mca.gov.in/Ministry/pdf/CompaniesIncorporationAmendmentRules2018_250120

icle – 1 for details of the rule….

Page8 of 25

January 2018)Amendment of notificationempowerment of State tax officers for

english.pdf

With the effect fromSeeks to exempt royalty and license fee from Integrated tax to the extent it

eration attributable to royalty and license fee included in transactionvalue under Rule 10(1)(c) of Customs Valuation (Determination of value of imported Goods)


Clarifications regarding levy of GST on accommodation services, betting and gambling inng, legal services etc. – Reg.

With the effect from 04th January,

gst.pdf

Clarification on supplies made to the Indian Railways classifiable under any chapter, other

• only the goods classified under Chapter 86, supplied to the railways attract 5% GST rate

• other goods [falling in any other chapter], would attract the general applicable GST rates togoods, under the aforesaid notifications, even if supplied to the railways.

cgst.pdf .

The Companies Amendment Act, 2018 has amended the rules with regard to incorporation like

http://www.mca.gov.in/Ministry/pdf/CompaniesIncorporationAmendmentRules2018_250120

MONTHLY COMMUNIQUE

Director Identification Number for the Directors of the Companies

Individual who do not have a DIN for incorporating the Company, the same can be applied forand allotted through Spice Form during the Incorporation process and Form DIRspecifically to applied by the individuals who wish to be appointed as Director in the ExistingCompany.http://www.mca.gov.in/Ministry/pdf/AppointmentQualificationDir_25012018.pdf

Condonation of Delay Scheme

CODS which is introduced on 01.01.2018 will be in force upto 31.03.2018.Ewill be available from 20.02.2018.

http://www.mca.gov.in/Ministry/pdf/Generalcircular16_29122017.pdf

Director General of ForeignTrade

Operational Modification of IEC Registration

To make changes done in the IEC Registration which is done in offline mode, to be migrated toE-IEC- i.e.,from of offline to online.

http://dgft.gov.in/Exim/2000/PN/PN15/pn3615.pdf

Leadership is the capacity to translate VISION into REALITY!

MONTHLY COMMUNIQUE

Identification Number for the Directors of the Companies

Individual who do not have a DIN for incorporating the Company, the same can be applied forand allotted through Spice Form during the Incorporation process and Form DIR

by the individuals who wish to be appointed as Director in the Existing

http://www.mca.gov.in/Ministry/pdf/AppointmentQualificationDirectoramendmentrules2018

Condonation of Delay Scheme

CODS which is introduced on 01.01.2018 will be in force upto 31.03.2018.Ewill be available from 20.02.2018.

http://www.mca.gov.in/Ministry/pdf/Generalcircular16_29122017.pdf

f ForeignTrade

Operational Modification of IEC Registration

To make changes done in the IEC Registration which is done in offline mode, to be migrated toi.e.,from of offline to online.

http://dgft.gov.in/Exim/2000/PN/PN15/pn3615.pdf


Page9 of 25

Individual who do not have a DIN for incorporating the Company, the same can be applied forand allotted through Spice Form during the Incorporation process and Form DIR-03 is

by the individuals who wish to be appointed as Director in the Existing

ectoramendmentrules2018

CODS which is introduced on 01.01.2018 will be in force upto 31.03.2018.E-form for CODS

To make changes done in the IEC Registration which is done in offline mode, to be migrated to


MONTHLY COMMUNIQUE

Introduction

The Central Government hereby makes the following rules further to ame

(Incorporation) Rules, 2014, namely, These rules may be called the Companies (Incorporation)

Amendment Rules, 2018.

Background of the Rule

Prior to Companies Amendment Act, 2017, Rules in respect to Reservation of Name andApplication for Incorporation Of Companies, the power was vested with Registrar, CentralRegistration Centre.

The Name Application was to be Filed in INC(Registration offices and fees) Rules, 2014 to the Registrar, Centrapplication submitted to the registrar will be approved and reserved for a period of 60 days.

The application for incorporation of a company under this rule shall be in FORM No. INC(SPICe) alongwith e-Memorandum of AssociatAssociation (e-AOA) in Form No. INCProvided that in case of incorporation of a company falling under section 8 of the Act, FORM No.INC-32 (SPICe) shall be filed along with FORM No. INCFORM No. INC-31 (Articles of Association) as attachments.

Applicability

TheCompanies (Incorporation) Amendment Rules, 2018 will apply for the incorporation of the

companies with effect from 26.01.2018.

Incorporation Process Under The N

An application for reservation of name shall be madethrough the web service available at

www.mca.gov.in by using RUN (Reserve Unique Name) along with fee as provided in the

Companies (Registration offices and fees) Rules, 2014, which may either be

rejected, as the case may be, by the Registrar, Central Registration Centre. Name approved and

reserved under RUN will be valid only 20 days.

Screenshot of the same is given below:

Monthly Article I:Incorporation Of Companies as per

Companies Amendment

Amendment Rules, 2018

MONTHLY COMMUNIQUE

The Central Government hereby makes the following rules further to ame


Prior to Companies Amendment Act, 2017, Rules in respect to Reservation of Name andIncorporation Of Companies, the power was vested with Registrar, Central

The Name Application was to be Filed in INC-1along with the fee as provided in the Companies(Registration offices and fees) Rules, 2014 to the Registrar, Central Registration Centre.Theapplication submitted to the registrar will be approved and reserved for a period of 60 days.

The application for incorporation of a company under this rule shall be in FORM No. INCMemorandum of Association (e-MOA) in Form No. INC-

AOA) in Form No. INC-34.Provided that in case of incorporation of a company falling under section 8 of the Act, FORM No.

32 (SPICe) shall be filed along with FORM No. INC-13 (Memorandum o31 (Articles of Association) as attachments.


es with effect from 26.01.2018.

Incorporation Process Under The New Rule.



Companies (Registration offices and fees) Rules, 2014, which may either be


reserved under RUN will be valid only 20 days.

Screenshot of the same is given below:

Incorporation Of Companies as per

Amendment Act,2017& Companies (incorporation)

Amendment Rules, 2018

Page10 of 25

The Central Government hereby makes the following rules further to amend the Companies


Prior to Companies Amendment Act, 2017, Rules in respect to Reservation of Name andIncorporation Of Companies, the power was vested with Registrar, Central

1along with the fee as provided in the Companiesal Registration Centre.The

application submitted to the registrar will be approved and reserved for a period of 60 days.

The application for incorporation of a company under this rule shall be in FORM No. INC-32-33 and e-Articles of

Provided that in case of incorporation of a company falling under section 8 of the Act, FORM No.13 (Memorandum of Association) and




Companies (Registration offices and fees) Rules, 2014, which may either be approved or


Incorporation Of Companies as per

& Companies (incorporation)

MONTHLY COMMUNIQUE

Key Highlights of the Rule

INC-1 discarded. Now _Registrati

Name and Change of Name of existing companies.

Central Registration Center (CRC) will be vested with job of processing RUN applications.

No resubmission for RUN*. Either approval or rejection.

RUN* comes with *_Auto Check_* feature for checking name availability. However,

scrutiny of name shall still be done by MCA. Onus to comply with _Name Availability

Provisions_ still rests upon applicant. Same is now required to be declared by Applicants

in SPICe (INC-32).

Documents such as NOC for Name, SectoralRegulator Approval, Self

to be attached to *RUN*

expect it to be existing 6MB.

MONTHLY COMMUNIQUE

1 discarded. Now _Registration of Unique Name_*(RUN)* to be used for Reservation of

Name and Change of Name of existing companies.


No resubmission for RUN*. Either approval or rejection.

mes with *_Auto Check_* feature for checking name availability. However,



Documents such as NOC for Name, SectoralRegulator Approval, Self-Declaration, etc. has

*RUN*. _Though, size of attachments still remian undisclosed_*. We can

expect it to be existing 6MB.

Page11 of 25

on of Unique Name_*(RUN)* to be used for Reservation of


mes with *_Auto Check_* feature for checking name availability. However,



Declaration, etc. has

. _Though, size of attachments still remian undisclosed_*. We can

MONTHLY COMMUNIQUE

Brief of Main Objects to be entered in

Incorporation to be done only through SPICe Route now i.e. INC

SPICe (INC-32) to be now used for Incorporation of Chapter XXI (Part

Section 366 companies.

e-MOA and e-AOA (i.e. INC

foreign subscribers or cases where subscribers are more than 7. In both such cases

separate MOA-AOA has to be attached.

Form INC-7 discontinued for Incorporation matters.

For incorporating companies having less than or equal

companies which are without share capital and have members less than 20

Incorporation fee._* Only Stamp Duty for registration of MOA and AOA has to be paid

as per the State Act.

As per Companies Amendment Act, 2017,

Subscribers and First Directors of the Company has been scrapped off. As per the New

Incorporation Rules, only Declarations regarding the same has to be submitted by

Subscribers and First Directors of the Comp

the requirement of procuring stamp papers for Affidavits and Notarising the same.

Thus to conclude the Companies Am

hassle free, economical, and time saving

warmly welcomed by the Professionals and Entreprenuers.

When the going gets tough, the tough get going!

MONTHLY COMMUNIQUE

Brief of Main Objects to be entered in *RUN* in comments section.

Incorporation to be done only through SPICe Route now i.e. INC-32

32) to be now used for Incorporation of Chapter XXI (Part

AOA (i.e. INC-33 and INC-34) to be *not applicable* for companies having


AOA has to be attached.

7 discontinued for Incorporation matters.

For incorporating companies having less than or equal to Rs.10 lakh nominal capital or

companies which are without share capital and have members less than 20

Only Stamp Duty for registration of MOA and AOA has to be paid

As per Companies Amendment Act, 2017, the clause of submitting the Affidavits by the



Subscribers and First Directors of the Company. Thus, make the Process hassle free from


Companies Amendment Act,has made the Incorporation

hassle free, economical, and time saving. This new initiative brought up by the Central Govt. is

Professionals and Entreprenuers.

When the going gets tough, the tough get going!

Page12 of 25

32) to be now used for Incorporation of Chapter XXI (Part-I) companies i.e.

plicable* for companies having


to Rs.10 lakh nominal capital or

companies which are without share capital and have members less than 20 - *_No

Only Stamp Duty for registration of MOA and AOA has to be paid

the clause of submitting the Affidavits by the



any. Thus, make the Process hassle free from


Act,has made the Incorporation process simpler,

. This new initiative brought up by the Central Govt. is

MONTHLY COMMUNIQUE

Major Changes that can be observed below which has happened as on 23

With the effect from 23rd January, 2018

Point-wise analysis of major amendments in Central Goods & Service Tax, 2017 :

Any person who has been granted registration on a provisional basis under clause (b) of

sub-rule (1) of rule 24 and who opts to pay tax under section 10, shall

an intimation in FORM GST CMP

code, on the common portal, either directly or through a Facilitation Centre notified by the

Commissioner, prior to the appointed day, but not lat

day (earlier 90 days).

Sl.No

Category of CompositeDealer

1. Manufacturers, other thanmanufacturers of such goodsas may be notified by theGovernment

2. Suppliers making suppliesreferred to in clause (b) ofparagraph 6 of Schedule II(Restaurants)

3. Any other supplier eligiblefor composition levy undersection 10 and theprovisions of this Chapter(Others)

Proviso to Rule. 20 has been omitted

registration shall be considered in case of a taxable person, who has registered

voluntarily, before the expiry of a period of one year from the effective date of

registration”- is omitted.

Migration of persons registered under the existing law Rule 24

Amendment in Sub Rule 4 “Every person registered under any of the existing laws, who is not

liable to be registered under the Act may,

December, 2017) at his option, submit an application electronically in FORM GST REG

common portal for the cancellation of registration granted to him and the proper officer shall,

after conducting such enquiry as deemed fit, cancel the said registration.

Monthly Article II : Major Amendments in Goods &

MONTHLY COMMUNIQUE

Major Changes that can be observed below which has happened as on 23rd January 2018.

January, 2018

wise analysis of major amendments in Central Goods & Service Tax, 2017 :


rule (1) of rule 24 and who opts to pay tax under section 10, shall

an intimation in FORM GST CMP-01, duly signed or verified through electronic verification


Commissioner, prior to the appointed day, but not later than 180 days after the said

Category of Composite Rate of Tax

Manufacturers, other thanmanufacturers of such goodsas may be notified by the

0.5% (Earlier 1%) of the turnover in theState or Union territory

Suppliers making suppliesreferred to in clause (b) ofparagraph 6 of Schedule II

2.5% (No change) of the turnover in the Stateor Union territory

Any other supplier eligiblefor composition levy undersection 10 and the

visions of this Chapter

0.5% (No Change) half per cent. of theturnover of taxable supplies of goodsthe State or Union territory

Proviso to Rule. 20 has been omitted – “Provided that no application for the cancellation of

be considered in case of a taxable person, who has registered


is omitted.

Migration of persons registered under the existing law Rule 24 –

le 4 “Every person registered under any of the existing laws, who is not

liable to be registered under the Act may, on or before 31st March, 2018

December, 2017) at his option, submit an application electronically in FORM GST REG

mmon portal for the cancellation of registration granted to him and the proper officer shall,

after conducting such enquiry as deemed fit, cancel the said registration.


Service Tax, 2017

Page13 of 25

January 2018.

wise analysis of major amendments in Central Goods & Service Tax, 2017 :


rule (1) of rule 24 and who opts to pay tax under section 10, shall electronically file

01, duly signed or verified through electronic verification


180 days after the said

of the turnover in the

2.5% (No change) of the turnover in the State

0.5% (No Change) half per cent. of thetaxable supplies of goods in

“Provided that no application for the cancellation of

be considered in case of a taxable person, who has registered


le 4 “Every person registered under any of the existing laws, who is not

on or before 31st March, 2018 (earlier 31st

December, 2017) at his option, submit an application electronically in FORM GST REG-29 at the

mmon portal for the cancellation of registration granted to him and the proper officer shall,


MONTHLY COMMUNIQUE

Rule 31A “Value of supply in case of lottery, betting, gambling and horse racing” has

been inserted.

Sl.No

Particulars

1. Lottery run by StateGovernments (means alottery not allowed to besold in any State otherthan the organizingState)

2. Lottery authorised byState Governments(means a lottery which isauthorised to be sold inState(s) other than theorganising State)

Manner of determination of input tax credit in respect of inputs or input services and

reversal thereof & Manner of determination of input tax credit in respect of capital goods

and reversal thereof in certain cases :

Amendment:

It is hereby clarified that the

Sl. No1. The value of supply of services specified in the notification of the

Government of India in the Ministry of Financ42/2017-Integrated Tax (Rate), dated the 27th October, 2017 published inthe Gazette of India, Extraordinary, Part II, Section 3, Subnumber GSR 1338(E) dated the 27th October, 2017;having place of supply in Nepal or Bhutan, against payment in IndianRupees”

2. The value of services by way of accepting deposits, extending loans oradvances in so far as the consideration is represented by way of interestor discount, except in case of aincluding a non-by way of accepting deposits, extending loans or advances; and

3. The value of supply of services by way of transportation of goods by avessel from the customs station of clearance in India to a place outsideIndia.”

Insertion of Sub Rule 1A to Rule 54:

A registered person, having the same PAN and State code as an Input Service Distributor,

may issue an invoice or, as the case may be, a c

common input services to the Input Service Distributor, which shall contain the following

details:-

MONTHLY COMMUNIQUE


Valuation

Lottery run by StateGovernments (means alottery not allowed to besold in any State otherthan the organizing

100/112 of the face value of ticket or of the priceas notified in the Official Gazette bState, whichever is higher

Lottery authorised byState Governments(means a lottery which isauthorised to be sold inState(s) other than theorganising State)

100/128 of the face value of ticket or of the priceas notified in the Official Gazette by the organisingState, whichever is higher.



eof in certain cases :

It is hereby clarified that the aggregate value of exempt supplies shall exclude

ParticularsThe value of supply of services specified in the notification of theGovernment of India in the Ministry of Finance, Department of Revenue No.

Integrated Tax (Rate), dated the 27th October, 2017 published inthe Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), videnumber GSR 1338(E) dated the 27th October, 2017; - “Supply of services

ng place of supply in Nepal or Bhutan, against payment in Indian

The value of services by way of accepting deposits, extending loans oradvances in so far as the consideration is represented by way of interestor discount, except in case of a banking company or a financial institution

-banking financial company, engaged in supplying servicesby way of accepting deposits, extending loans or advances; andThe value of supply of services by way of transportation of goods by a

ssel from the customs station of clearance in India to a place outside

Insertion of Sub Rule 1A to Rule 54:


may issue an invoice or, as the case may be, a credit or debit note to transfer the credit of


Page14 of 25


100/112 of the face value of ticket or of the priceas notified in the Official Gazette by the organising

100/128 of the face value of ticket or of the pricecial Gazette by the organising



aggregate value of exempt supplies shall exclude:

The value of supply of services specified in the notification of thee, Department of Revenue No.

Integrated Tax (Rate), dated the 27th October, 2017 published insection (i), vide

“Supply of servicesng place of supply in Nepal or Bhutan, against payment in Indian

The value of services by way of accepting deposits, extending loans oradvances in so far as the consideration is represented by way of interest

banking company or a financial institutionbanking financial company, engaged in supplying services

by way of accepting deposits, extending loans or advances; andThe value of supply of services by way of transportation of goods by a

ssel from the customs station of clearance in India to a place outside


redit or debit note to transfer the credit of


MONTHLY COMMUNIQUE

Sl.No1. name, address and Goods and Services Tax Identification Number of the

registered personService Distributor;

2. a consecutive serial number not exceeding sixteen characters, in one ormultiple series, containing alphabets or numerals or special charactershyphen or dash and slash symbolcombination thereof, unique for a financial year;

3. date of its issue;4. Goods and Services Tax Identification Number of supplier of common

service and original invoice number whose credit is sought to betransferred to the Input Service Distributor;

5. name, address and Goods and Services Tax Identification Number of theInput Service Distributor;

6. taxable value, rate and amount of the credit to be transferred; and7. signature or digital signature of the

representative

The taxable value in the invoice issued under clause (a) shall be the same as the value of

the common services.

Insertion of GST rule no.55A. Tax Invoice or bill of supply to accompany transport of

goods.- The person-in-charge of the conveyance shall carry a copy of the tax invoice or the

bill of supply issued in accordance with the provisions of rules 46, 46A or 49 in a case

where such person is not required to carry an e

With effect from 23rd October, 2017, in rule 89, for sub

following sub-rules shall be substituted, namely:

Sl.No

Particulars

1. In the case of supplies received on which the supplier has availed thebenefit of DEEMED EXrespect of other inputs or input services used in making zerosupply of goods or services or both, shall be granted.

2. In the case of supplies received on which the supplier has availed thebenefit of the Government of India, Ministry of Finance, notification No.40/2017-Central Tax (Rate) dated the 23rd October, 2017 (CGST @0.05% on intra-to a registered recipient for export subject to specifiednotification No. 41/20172017 ( Rate Changes in Schedule I goods ) or notification No. 78/2017Customs dated the 13th October, 2017 or notification No. 79/2017Customs dated the 13th October, 20tax credit, availed in respect of inputs received under the saidnotifications for export of goods and the input tax credit availed inrespect of other inputs or input services to the extent used in makingsuch export of goods, shall be granted.”

(Read with Customs notification no. 78 & 79)

MONTHLY COMMUNIQUE

Particularsname, address and Goods and Services Tax Identification Number of theregistered person having the same PAN and same State code as the InputService Distributor;a consecutive serial number not exceeding sixteen characters, in one ormultiple series, containing alphabets or numerals or special charactershyphen or dash and slash symbolised as “-” and “/” respectively, and anycombination thereof, unique for a financial year;date of its issue;Goods and Services Tax Identification Number of supplier of commonservice and original invoice number whose credit is sought to be

ferred to the Input Service Distributor;name, address and Goods and Services Tax Identification Number of theInput Service Distributor;taxable value, rate and amount of the credit to be transferred; andsignature or digital signature of the registered person or his authorised



charge of the conveyance shall carry a copy of the tax invoice or the


where such person is not required to carry an e-way bill under these rules.”;

With effect from 23rd October, 2017, in rule 89, for sub-rule (4A) and sub

rules shall be substituted, namely:-

In the case of supplies received on which the supplier has availed theDEEMED EXPORTS, refund of input tax credit, availed in

respect of other inputs or input services used in making zerosupply of goods or services or both, shall be granted.In the case of supplies received on which the supplier has availed the

he Government of India, Ministry of Finance, notification No.Central Tax (Rate) dated the 23rd October, 2017 (CGST @

0.05% on intra-State supply of taxable goods by a registered supplierto a registered recipient for export subject to specified condition ) ornotification No. 41/2017-Integrated Tax (Rate) dated the 23rd October,2017 ( Rate Changes in Schedule I goods ) or notification No. 78/2017Customs dated the 13th October, 2017 or notification No. 79/2017Customs dated the 13th October, 2017 or all of them, refund of inputtax credit, availed in respect of inputs received under the saidnotifications for export of goods and the input tax credit availed inrespect of other inputs or input services to the extent used in making

goods, shall be granted.”

(Read with Customs notification no. 78 & 79)

Page15 of 25

name, address and Goods and Services Tax Identification Number of thehaving the same PAN and same State code as the Input

a consecutive serial number not exceeding sixteen characters, in one ormultiple series, containing alphabets or numerals or special characters -

” and “/” respectively, and any

Goods and Services Tax Identification Number of supplier of commonservice and original invoice number whose credit is sought to be

name, address and Goods and Services Tax Identification Number of the

taxable value, rate and amount of the credit to be transferred; andregistered person or his authorised



charge of the conveyance shall carry a copy of the tax invoice or the


way bill under these rules.”;

rule (4A) and sub-rule (4B), the

In the case of supplies received on which the supplier has availed the, refund of input tax credit, availed in

respect of other inputs or input services used in making zero-rated

In the case of supplies received on which the supplier has availed thehe Government of India, Ministry of Finance, notification No.

Central Tax (Rate) dated the 23rd October, 2017 (CGST @State supply of taxable goods by a registered supplier

condition ) orIntegrated Tax (Rate) dated the 23rd October,

2017 ( Rate Changes in Schedule I goods ) or notification No. 78/2017-Customs dated the 13th October, 2017 or notification No. 79/2017-

17 or all of them, refund of inputtax credit, availed in respect of inputs received under the saidnotifications for export of goods and the input tax credit availed inrespect of other inputs or input services to the extent used in making

MONTHLY COMMUNIQUE

Rule 138 has been inserted “Information to be furnished prior to commencement of

movement of goods and generation of e

with effect from 23rd October, 2017, in rule 96, (a) in sub

exporter”, the words “an exporter of goods” shall be substituted; (b) in sub

words “relevant export invoices”, the words “relevant export invoices in respect of expo

of goods” shall be substituted; (c) in sub

the Customs shall process the claim for refund”, the words “the system designated by the

Customs or the proper officer of Customs, as the case may be, shall pro

refund in respect of export of goods ” shall be substituted;

The application for refund of integrated tax paid on the services exported out of India

shall be filed in FORM GST RFD

provisions of rule 89”

The persons claiming refund of integrated tax paid on exports of goods or services should

not have received following supplies on which the supplier has availed the benefit of the

Government of India, Ministry of Finance,

notification No. 48/2017


of 0.05% on intra

registered recipient for export subject


DEEMED EXPORTS

read with notification No. 78/2017

79/2017-Customs dated the 13th October, 2017.


English_New.pdf

CGST Rates Amendments:

(Notification No. 1/2018-Central Tax (Rate) dated 25th January 2018 read with Notification No.

11/2017-Central Tax (Rate)


Services CGSTRate

Composite supply of workscontract as defined inclause (119) of section 2 ofthe Central Goods andServices Tax Act, 2017provided by a sub-contractor to the main

6%

MONTHLY COMMUNIQUE


movement of goods and generation of e-way bill – with the effect from 1

m 23rd October, 2017, in rule 96, (a) in sub-rule (1), for the words “an

exporter”, the words “an exporter of goods” shall be substituted; (b) in sub

words “relevant export invoices”, the words “relevant export invoices in respect of expo

of goods” shall be substituted; (c) in sub-rule (3), for the words “the system designated by


Customs or the proper officer of Customs, as the case may be, shall pro

refund in respect of export of goods ” shall be substituted;


shall be filed in FORM GST RFD-01 and shall be dealt with in accordance with the



Government of India, Ministry of Finance,

o. 48/2017- Central Tax dated the 18th October, 2017

notification No. 40/2017-Central Tax (Rate) 23rd October, 2017

of 0.05% on intra-State supply of taxable goods by a registered supplier to a

registered recipient for export subject to specified conditions.

notification No. 41/2017-Integrated Tax (Rate) dated the 23rd October, 2017

DEEMED EXPORTS

read with notification No. 78/2017-Customs dated the 13th October, 2017 notification No.

Customs dated the 13th October, 2017.


mendments:-

Central Tax (Rate) dated 25th January 2018 read with Notification No.

January, 2018

CGSTRate

Conditions

6% Provided that where the services are supplied to aGovernment Entity, they should have been procuredby the said entity in relation to a work entrusted to itby the Central Government, State Government, Unionterritory or local authority, as the case may be.

Page16 of 25


with the effect from 1st Feb 2018”

rule (1), for the words “an

exporter”, the words “an exporter of goods” shall be substituted; (b) in sub-rule (2), for the

words “relevant export invoices”, the words “relevant export invoices in respect of export

rule (3), for the words “the system designated by


Customs or the proper officer of Customs, as the case may be, shall process the claim of


01 and shall be dealt with in accordance with the



Central Tax dated the 18th October, 2017 -

Central Tax (Rate) 23rd October, 2017 - Central Tax rate

State supply of taxable goods by a registered supplier to a

Integrated Tax (Rate) dated the 23rd October, 2017 –

Customs dated the 13th October, 2017 notification No.

central_tax-


Provided that where the services are supplied to aGovernment Entity, they should have been procuredby the said entity in relation to a work entrusted to itby the Central Government, State Government, Union

ority, as the case may be.

MONTHLY COMMUNIQUE

contractor providingservices specified in item(iii) or item (vi) to theCentral Government, StateGovernment, Unionterritory, a local authority,a Governmental Authorityor a Government Entity.Composite supply of worksProvided that where theservices are 3 contract asdefined in clause (119) ofsection 2 of the CentralGoods and Services TaxAct, 2017 provided by asub-contractor to the maincontractor providingservices specified in item(vii) to the CentralGovernment, StateGovernment, Unionterritory, a local authority,a Governmental Authorityor a Government Entity.

2.5%

Services by way ofhousekeeping, such asplumbing, carpentering,etc. where the personsupplying such servicethrough electroniccommerce operator is notliable for registration undersubsection (1) of section 22of the Central Goods andServices Tax Act, 2017

2.5%

(xii) Construction servicesother than (i), (ii), (iii), (iv),(v), (vi), (vii), (viii),(ix), (x)and(xi) .

9%

Time charter of vessels fortransport of goods.

2.5%

Rental services of transportvehicles with or withoutoperators, other than (i)and (ii)

9%

Services by the CentralGovernment, StateGovernment, Unionterritory or local authorityto governmental authorityor government entity, by

NIL

MONTHLY COMMUNIQUE

2.5% Provided that where the services are supplied to aGovernment Entity, they should have beenby the said entity in relation to a work entrusted to itby the Central Government, State Government, Unionterritory or local authority, as the case may be.

2.5% Provided that credit of input tax charged on goodsand services has not been taken [Please refer toExplanation no. (iv)].

9%

2.5% Provided that credit of input tax charged on(other than on ships, vessels including bulk carriersand tankers) has not been taken

9%

NIL

Page17 of 25

Provided that where the services are supplied to aGovernment Entity, they should have been procuredby the said entity in relation to a work entrusted to itby the Central Government, State Government, Unionterritory or local authority, as the case may be.

Provided that credit of input tax charged on goodsaken [Please refer to

Provided that credit of input tax charged on goods(other than on ships, vessels including bulk carriers

MONTHLY COMMUNIQUE

way of lease of landSupply of land orundivided share of land byway of lease or sub leasewhere such supply is apart of composite supply ofconstruction of flats, etc.specified in the entry incolumn (3), against serialnumber 3, at item (i); sub-item (b), sub-item (c),subitem (d), sub-item (da)and sub-item (db) of item(iv); sub-item (b), sub-item(c), sub-item (d) and sub-item (da) of item (v); andsub-item (c) of item (vi).Provided that nothingcontained in this entryshall apply to an amountcharged for such lease andsub-lease in excess of onethird of the total amountcharged for the saidcomposite supply. Totalamount shall have thesame meaning for thepurpose of this proviso asgiven in paragraph 2 of thisnotification

NIL

Real estate services otherthan (i) and (ii)

9%

Time charter of vessels fortransport of goods.

2.5%

Leasing or rental services,with or without operator,other than (i), (ii), (iii), (iv),(v), (vi) and (vii)

Same rateof centraltax asapplicableon supplyof likegoodsinvolvingtransferof title ingood

Services by way of house-keeping, such as plumbing,carpentering, etc. wherethe person supplying suchservice through electroniccommerce operator is not

2.5%

MONTHLY COMMUNIQUE

NIL

9%

2.5% Provided that credit of input tax charged on goods(other than on ships, vessels includingand tankers) has not been taken

Same rateof centraltax asapplicableon supplyof likegoodsinvolvingtransferof title ingoods2.5% Provided that credit of input tax charged on goods

and services has not been taken [Please refer toExplanation no. (iv)].

Page18 of 25

Provided that credit of input tax charged on goods(other than on ships, vessels including bulk carriers

Provided that credit of input tax charged on goodsand services has not been taken [Please refer to

MONTHLY COMMUNIQUE

liable for registration undersub-section (1) of section 22of the Central Goods andServices Tax Act, 2017.Support services other than(i) and (ii) .

9%

Service of exploration,mining or drilling ofpetroleum crude or naturalgas or both.

6%

Support services to mining,electricity, gas and waterdistribution other than (ii) .

9%

Services by way of house-keeping, such as plumbing,carpentering, etc. wherethe person supplying suchservice through electroniccommerce operator is notliable for registration undersub-section (1) of section 22of the Central Goods andServices Tax Act, 2017.

2.5%

Maintenance, repair andinstallation (exceptconstruction) services,other than (i)

9%

Tailoring services. 2.5%Manufacturing services onphysical inputs (goods)owned by others, otherthan (i), (ia), (ii), (iia) and(iii)

9%

Services by way oftreatment of effluents by aCommon EffluentTreatment Plant.

6%

Sewage and wastecollection, treatment anddisposal and otherenvironmental protectionservices other than (i) .

9%

Services by way ofadmission to amusementparks including themeparks, water parks, joyrides, merry-go rounds, go-carting and ballet.

9%

Services by way ofadmission to entertainmentevents or access toamusement facilities

14%

MONTHLY COMMUNIQUE

9%

6%

9%

2.5% Provided that credit of input tax charged on goodsand services has not been taken

9%

2.5%9%

6%

9%

9%

14%

Page19 of 25

Provided that credit of input tax charged on goods

MONTHLY COMMUNIQUE

including exhibition ofcinematograph films,casinos, race club, anysporting event such asIndian Premier League andthe like.http://www.cbec.gov.in/resources//htdocs


Amendment in NIL rated supplies:


Notification No. 2/2018- Central Tax (Rate) 25th January 2018 read with No


Goods/ServiceComposite supply of goods and services inwhich the value of supply of goodsconstitutes not more than 25 per cent. of thevalue of the said composite supply providedto the Central Government, StateGovernment or Union territory or localauthority or a Governmental authority or aGovernment Entity by way of any activityin relation to any function entrusted to aPanchayat under article 243G of theConstitution or in relation to aentrusted to a Municipality under article243W of the ConstitutionServices by way of transportation of goodsby an aircraft from customs station ofclearance in India to a place outside India.

Services by way of transportation of goodsby a vessel from customs station ofclearance in India to a place outside India.

Services of life insurance provided oragreed to be provided by the Naval GroupInsurance Fund to the personnel of CoastGuard under the Group Insurance Schemesof the Central Government.Services by way of reinsurance of theinsurance schemes specified in serialnumber 35 or 36.Services by an intermediary of financialservices located in a multi services SEZwith International Financial Services Centre(IFSC) status to a customer located outsideIndia for international financialcurrencies other than Indian rupees (INR)

MONTHLY COMMUNIQUE

http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-01-2018-cgst-rate

http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-01-2018-igst-rate

Amendment in NIL rated supplies:

January, 2018

Central Tax (Rate) 25th January 2018 read with Notification No.

CGST Rate ConditionsComposite supply of goods and services inwhich the value of supply of goodsconstitutes not more than 25 per cent. of thevalue of the said composite supply provided

ral Government, StateGovernment or Union territory or localauthority or a Governmental authority or aGovernment Entity by way of any activityin relation to any function entrusted to aPanchayat under article 243G of theConstitution or in relation to any functionentrusted to a Municipality under article

Nil -

Services by way of transportation of goodsby an aircraft from customs station ofclearance in India to a place outside India.

Nil Nothing contained in thisserial numberafter the 30th day ofSeptember, 2018

Services by way of transportation of goodsby a vessel from customs station ofclearance in India to a place outside India.

Nil Nothing contained in thisserial number shall applyafter the 30th day ofSeptember, 2018

Services of life insurance provided oragreed to be provided by the Naval GroupInsurance Fund to the personnel of CoastGuard under the Group Insurance Schemes

Nil

Services by way of reinsurance of theschemes specified in serial

Nil

Services by an intermediary of financialservices located in a multi services SEZwith International Financial Services Centre(IFSC) status to a customer located outsideIndia for international financial services incurrencies other than Indian rupees (INR)

Nil

Page20 of 25

rate-english.pdf

rate-english.pdf

tification No.

Nothing contained in thisshall apply

after the 30th day ofSeptember, 2018Nothing contained in thisserial number shall applyafter the 30th day of

ptember, 2018

MONTHLY COMMUNIQUE

Services by way of fumigation in awarehouse of agricultural produce.Services by way of providing informationunder the Right to Information Act, 2005(22 of 2005).http://www.cbec.gov.in/resources//htdocs


english.pdf;jsessionid=BCC7319CF7D6D8CE60CDE29272CE79D1

Old Car Sale & GST Impact

With the effect from 25th January

Notification No. 8/2018 -Central Tax (Rate) dated 25th January 2018 read with Notification No.

1/2017-Central Tax (Rate) dated 28th June 2017

Sl.No

Description of Goods

1. Old and used, petrol Liquefied petroleum gases (LPG) or compnatural gas (CNG) driven motor vehicles of engine capacity of 1200 cc ormore and of length of 4000 mm or more. Explanation.of this entry, the specification of the motor vehicle shall be determinedas per the Motor Vehicles Act,there under.

2. Old and used, diesel driven motor vehicles of engine capacity of 1500 ccor more and of length of 4000 mm Explanation.this entry, the specification of the motor vehicle shall bper the Motor Vehicles Act, 1988 (59 of 1988) and the rules made thereunder.

3. Old and used motor vehicles of engine capacity exceeding 1500 cc,popularly known as Sports Utility Vehicles (SUVs) including utilityvehicles. Explanation.motor vehicle of length exceeding 4000 mm and having groundclearance of 170 mm. and .

4. All Old and used Vehicles other than those mentioned from S. No. 1 toS.No.3

This notification shall not apply, if the supplier of such goods has availed input tax credit as

defined in clause (63) of section 2 of the Central Goods and Services Tax Act, 2017, CENVAT as

defined in CENVAT Credit Rules, 2004 or the input tax credit of Value Added Tax or any other

taxes paid, on such goods.



Following specific changes are with the effect from 25

Items taxable @ CGST 2.5%

Notification No. 6/2018-Central Tax (Rate) dated 25


Following items are taxable @ CGST 2.5%

MONTHLY COMMUNIQUE

Services by way of fumigation in awarehouse of agricultural produce.

Nil

Services by way of providing informationunder the Right to Information Act, 2005

Nil



english.pdf;jsessionid=BCC7319CF7D6D8CE60CDE29272CE79D1

Old Car Sale & GST Impact

January, 2018


Central Tax (Rate) dated 28th June 2017

Description of Goods

Old and used, petrol Liquefied petroleum gases (LPG) or compressednatural gas (CNG) driven motor vehicles of engine capacity of 1200 cc ormore and of length of 4000 mm or more. Explanation. - For the purposesof this entry, the specification of the motor vehicle shall be determinedas per the Motor Vehicles Act, 1988 (59 of 1988) and the rules made

Old and used, diesel driven motor vehicles of engine capacity of 1500 ccor more and of length of 4000 mm Explanation. - For the purposes ofthis entry, the specification of the motor vehicle shall be determined asper the Motor Vehicles Act, 1988 (59 of 1988) and the rules made there

Old and used motor vehicles of engine capacity exceeding 1500 cc,popularly known as Sports Utility Vehicles (SUVs) including utility

. - For the purposes of this entry, SUV includes amotor vehicle of length exceeding 4000 mm and having groundclearance of 170 mm. and .All Old and used Vehicles other than those mentioned from S. No. 1 to

ply, if the supplier of such goods has availed input tax credit as



http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-08-2018-cgst-rate

http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-for-CGST-rate

Following specific changes are with the effect from 25th January, 2018

Items taxable @ CGST 2.5%



Page21 of 25


igst-rate-


CGSTRate in %

ressednatural gas (CNG) driven motor vehicles of engine capacity of 1200 cc or

For the purposesof this entry, the specification of the motor vehicle shall be determined

1988 (59 of 1988) and the rules made

9%

Old and used, diesel driven motor vehicles of engine capacity of 1500 ccFor the purposes of

e determined asper the Motor Vehicles Act, 1988 (59 of 1988) and the rules made there

9%

Old and used motor vehicles of engine capacity exceeding 1500 cc,popularly known as Sports Utility Vehicles (SUVs) including utility

For the purposes of this entry, SUV includes amotor vehicle of length exceeding 4000 mm and having ground

9%

All Old and used Vehicles other than those mentioned from S. No. 1 to 6%

ply, if the supplier of such goods has availed input tax credit as



rate-english.pdf

rate-Schedule.pdf

January 2018 read with Notification No.

MONTHLY COMMUNIQUE

i. Tamarind kernel powder

ii. Mehendi paste in cone

iii. Rice bran (other than de

iv. Liquefied Propane and Butane mixture, Liquefied Propane, Liquefied Butane and

Liquefied Petroleum Gases (LPG) for supply to household domestic consumers”;

v. Scientific and technical instruments, apparatus, equipment, accessories, parts,

components, spares, tools, mock ups and modules, raw material and consumables required for

launch vehicles and satellites and payloads”;

Following items are taxable @ CGST 6%

i. Sugar boiled confectionery”;

ii. Drinking water packed in 20 litres bottles”;

iii. Fertilizer grade phosphoric acid”;

iv. Bio-pesticides, namely -

var. kurstaki 3 Bacillus thuringiensis var. galleriae 4 Bacillus sphaericus 5 Trichodermaviride 6

Trichodermaharzianum 7 Pseudomonas f

Helicoverpaarmigera 10 NPV of Spodopteralitura 11 Neem based pesticides 12 Cymbopogan”;

v. Bio-diesel”;

vi. Bamboo wood building joinery

vii. Tableware and Kitchenware of wood”;

viii. Sprinklers; drip irrigation syste


i. derived from vegetable products[other than tamarind kernel powder]

ii. groundnut sweets, gajak and sugar boiled confectionery

matter nor flavoured ([other than Drinking wa

iii. Fertilizer grade Phosphoric acid

iv. Preparations for use on the hair [except Mehendi pate in Cones]

v. shingles and shakes[other than bamboo wood building joinery]

vi. Cigarette Filter rods”;

vii. Ghamella

viii. Sanitary ware and parts thereof, of iron and steel”;

ix. Buses for use in public transport which exclusively run on Bio


MONTHLY COMMUNIQUE

Tamarind kernel powder

Rice bran (other than de-oiled rice bran)

Liquefied Propane and Butane mixture, Liquefied Propane, Liquefied Butane and


Scientific and technical instruments, apparatus, equipment, accessories, parts,

ares, tools, mock ups and modules, raw material and consumables required for

launch vehicles and satellites and payloads”;


Sugar boiled confectionery”;

Drinking water packed in 20 litres bottles”;

r grade phosphoric acid”;

- 1 Bacillus thuringiensis var. israelensis 2 Bacillus thuringiensis


Trichodermaharzianum 7 Pseudomonas fluoresens 8 Beauveriabassiana 9 NPV of


Bamboo wood building joinery

Tableware and Kitchenware of wood”;

Sprinklers; drip irrigation system including laterals; mechanical sprayers”;


derived from vegetable products[other than tamarind kernel powder]

groundnut sweets, gajak and sugar boiled confectionery

matter nor flavoured ([other than Drinking water packed in 20 litres bottles)

Fertilizer grade Phosphoric acid

Preparations for use on the hair [except Mehendi pate in Cones]

shingles and shakes[other than bamboo wood building joinery]

tary ware and parts thereof, of iron and steel”;

Buses for use in public transport which exclusively run on Bio-fuels”;


Page22 of 25

Liquefied Propane and Butane mixture, Liquefied Propane, Liquefied Butane and


Scientific and technical instruments, apparatus, equipment, accessories, parts,

ares, tools, mock ups and modules, raw material and consumables required for

1 Bacillus thuringiensis var. israelensis 2 Bacillus thuringiensis


luoresens 8 Beauveriabassiana 9 NPV of


m including laterals; mechanical sprayers”;

MONTHLY COMMUNIQUE

i. “Motor vehicles for the transport of ten or more persons, including the driver [other tha

buses for use in public transport, which exclusively run on Bio

ii. Actionable claim in the form of chance to win in betting, gambling, or horse racing in race

club”;


i. Semi-precious stones, whether or not

semi-precious stones, temporarily strung for convenience of transport [other than Unworked or

simply sawn or roughly shaped]

ii. Synthetic or reconstructed semi

strung, mounted or set; ungraded synthetic or reconstructed semi

strung for convenience of transport]

iii. Imitation jewellery [other than bangles of lac/shellac]


i. Semi-precious stones, unworked or simply sawn or roughly shaped

ii. Precious stones (other than diamonds), ungraded precious stones (other than diamonds)

iii. Synthetic or reconstructed precious stones

iv. Synthetic or reconstructed semi

shaped


english.pdf;jsessionid=1B0FA49206A996CFDF66444A0BB29E24


Schedule.pdf

Exempted Items from CGST

Notification No.7/2018-Central Tax (Rate) dated 25th January 2018 read with Notification No.

2/2017-Central Tax (Rate) dated 28th June 2018

Following items are exempted from CGST:

i. Aquatic feed including shrimp feed and prawn feed, pou

including grass, hay & straw, supplement & husk of pulses, concentrates &

additives, wheat bran & de

ii. De-oiled rice bran

iii. Cotton seed oil cake

iv. Agricultural implements manually operated or animal driv

spades, shovels, mattocks, picks, hoes, forks and rakes; axes, bill hooks and similar

hewing tools; secateurs and pruners of any kind; scythes, sickles, hay knives, hedge

shears, timber wedges and other tools of a kind used in a

forestry. used in agriculture, horticulture or forestry the words,

v. Vibhuti

vi. Parts for manufacture of hearing aids

MONTHLY COMMUNIQUE

“Motor vehicles for the transport of ten or more persons, including the driver [other tha

buses for use in public transport, which exclusively run on Bio-fuels]

Actionable claim in the form of chance to win in betting, gambling, or horse racing in race


precious stones, whether or not worked or graded but not strung, mounted or set;

precious stones, temporarily strung for convenience of transport [other than Unworked or

simply sawn or roughly shaped]

Synthetic or reconstructed semi-precious stones, whether or not worked or grad

strung, mounted or set; ungraded synthetic or reconstructed semi-precious stones, temporarily

strung for convenience of transport]

Imitation jewellery [other than bangles of lac/shellac]


cious stones, unworked or simply sawn or roughly shaped

Precious stones (other than diamonds), ungraded precious stones (other than diamonds)

Synthetic or reconstructed precious stones

Synthetic or reconstructed semi-precious stones, unworked or simply sawn or roughly


nglish.pdf;jsessionid=1B0FA49206A996CFDF66444A0BB29E24

http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-for-CGST


Central Tax (Rate) dated 28th June 2018

Following items are exempted from CGST:

Aquatic feed including shrimp feed and prawn feed, poultry feed & cattle feed,


additives, wheat bran & de-oiled cake [other than rice-bran]

Agricultural implements manually operated or animal driven i.e. Hand tools, such as



shears, timber wedges and other tools of a kind used in agriculture, horticulture or

forestry. used in agriculture, horticulture or forestry the words, other than ghamella

Parts for manufacture of hearing aids

Page23 of 25

“Motor vehicles for the transport of ten or more persons, including the driver [other than

Actionable claim in the form of chance to win in betting, gambling, or horse racing in race

worked or graded but not strung, mounted or set;

precious stones, temporarily strung for convenience of transport [other than Unworked or

precious stones, whether or not worked or graded but not

precious stones, temporarily

Precious stones (other than diamonds), ungraded precious stones (other than diamonds)

or simply sawn or roughly

cgst-rate-

CGST-rate-


ltry feed & cattle feed,


en i.e. Hand tools, such as



griculture, horticulture or

other than ghamella

MONTHLY COMMUNIQUE


english.pdf;jsessionid=95ED242378594E535CA04659B3EC7A01


exemption.pdf

http://www.cbec.gov.in/htdocs


Notification No 9/2018-Central Tax (Rate) dated 25

45/2017 of Central (Rate) dated 14

CGST needs to be charged @ 2.5% for few entities as per notification 45/2017 of Central (Rate)

dated 14th November 2017

The following entry shall be substituted in notification 45/2017, namely:

1. “Public funded research institution or a University or an Indian Institute of Technology or

Indian Institute of Science, Bangalore or a Regional Engineering College, oth

hospital”;

2. Department of Scientific and Research”, the words “Department of Scientific and

Industrial Research”, shall be substituted.


http://www.cbec.gov.in/htdocs


http://gstcouncil.gov.in/sites/default/files/gst%20rates/notfctn

Procedure with respect to payment of tax.

(Notification No. 4/2018-

Seeks to provide special procedure

supplying service by way of construction against transfer of development right and vice versa.

Personregistered persons who supplydevelopment rights to a developer, builder,construction company or any otherregistered person against consideration,wholly or partly, in the form ofconstruction service of complex, buildingor civil structure; - (a)registered persons who supplyconstruction service of complex, buildingor civil structure to supplier ofdevelopment rights against consideration,wholly or partly, in the form of transfer ofdevelopment rights – (b)

MONTHLY COMMUNIQUE


english.pdf;jsessionid=95ED242378594E535CA04659B3EC7A01

http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-for-CGST

/www.cbec.gov.in/htdocs-cbec/gst/Notification-for-CGST-rate-Schedule.pdf


Central Tax (Rate) dated 25th January 2018read with notification

45/2017 of Central (Rate) dated 14th November 2017


The following entry shall be substituted in notification 45/2017, namely:

“Public funded research institution or a University or an Indian Institute of Technology or

Indian Institute of Science, Bangalore or a Regional Engineering College, oth

Department of Scientific and Research”, the words “Department of Scientific and

Industrial Research”, shall be substituted.

cbec.gov.in/resources//htdocs-cbec/gst/notfctn-09-2018-cgst-rate

http://www.cbec.gov.in/htdocs-cbec/gst/notfctn-45-cgst-rate-english.pdf

http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-10-2018-igst-rate

http://gstcouncil.gov.in/sites/default/files/gst%20rates/notfctn-47-igst-rate

Procedure with respect to payment of tax.

-Central Tax (Rate) dated 25th

Seeks to provide special procedure with respect to payment of tax by registered person


Taxability & Time of Supplyregistered persons who supplydevelopment rights to a developer, builder,construction company or any otherregistered person against consideration,wholly or partly, in the form ofconstruction service of complex, building

as the registered persons in whose case theliability to pay central tax on supsaid services, on the consideration receivedin the form of construction service referred toin clause (a) and in the form of developmentrights referred to in clause (b) , shall arise atthe time when the said developer, builder,construction company or any other registeredperson, as the case may be, transferspossession or the right in the constructedcomplex, building or civil structure, to theperson supplying the development rights byentering into a conveyance deed or similarinstrument (for example allotment letter).

registered persons who supplyconstruction service of complex, buildingor civil structure to supplier ofdevelopment rights against consideration,wholly or partly, in the form of transfer of

Page24 of 25

cgst-rate-

CGST-

Schedule.pdf


January 2018read with notification


“Public funded research institution or a University or an Indian Institute of Technology or

Indian Institute of Science, Bangalore or a Regional Engineering College, other than a

Department of Scientific and Research”, the words “Department of Scientific and

rate-english.pdf

rate-english.pdf

rate-english.pdf

January 2018)

with respect to payment of tax by registered person


as the registered persons in whose case theliability to pay central tax on supply of thesaid services, on the consideration receivedin the form of construction service referred toin clause (a) and in the form of developmentrights referred to in clause (b) , shall arise atthe time when the said developer, builder,

company or any other registeredperson, as the case may be, transferspossession or the right in the constructedcomplex, building or civil structure, to theperson supplying the development rights byentering into a conveyance deed or similar

for example allotment letter).

MONTHLY COMMUNIQUE



Specification Of services supplied by the Central Govt., State Govt. Union Territory, or

Local Territory

(Notification No. 3/2018- Central Tax (Rate) dated 25

Seeks to amend notification No. 13/2017

by the Central Government, State Government, Union territory or local authority by way of

renting of immovable property

Reverse Charge Mechanism (RCM)

Service

Services supplied by the CentralGovernment, State Government,Union territory or local authority byway of renting of immovableproperty to a person registeredunder the Central Goods andServices Tax Act, 2017 (12 of 2017).http://www.cbec.gov.in/resources//htdocs


We are encouraged by our readers and the complements received.In our endeavor to improve our

quality we request you to give two minutes time to give feedback.

write us at–[email protected]

Thanking You,

HVJ & Team…!

This is meant for private circulation only

HVJ & Ass

No. 18/1, Jain Bhawan,Shanthinagar,BangaloreTel . 080 4E-Mail : info@Web : www.

Follow Us

MONTHLY COMMUNIQUE




ntral Tax (Rate) dated 25th January 2018)

Seeks to amend notification No. 13/2017- Central Tax (Rate) so as to specify services supplied


to a registered person under CGST Act, 2017 to be taxed under

Reverse Charge Mechanism (RCM)

Service Provider Service Receiver whoneeds to pay tax underRCM

Services supplied by the CentralGovernment, State Government,

authority byway of renting of immovableproperty to a person registeredunder the Central Goods andServices Tax Act, 2017 (12 of 2017).

Central Government,State Government,Union territory orlocal authority

Any person registeredunder the Central Goodsand Services Tax Act,2017.




y we request you to give two minutes time to give feedback.

[email protected]

This is meant for private circulation only

ssociates

No. 18/1, Jain Bhawan, Third Floor, Andree Road,Shanthinagar,Bangalore – 560027

41158620 | 7353444222|Mail : [email protected]

Web : www.hvj.co.in

on

Page25 of 25




Central Tax (Rate) so as to specify services supplied


to a registered person under CGST Act, 2017 to be taxed under

Service Receiver whoneeds to pay tax under

Any person registeredunder the Central Goodsand Services Tax Act,




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