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Important GST Notifications Issued in the Month of June 2017

Important GST Notifications Issued in the Month of June 2017

Important GST Notifications Issued in the Month of June 2017

Important GST Notifications Issued in the Month of June 2017 : The introduction of Goods and Services Tax (GST) would be a very significant step in the field of indirect tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax, it would mitigate cascading or double taxation in a major way and pave the way for a common national market. From the consumer point of view, the biggest advantage would be in terms of a reduction in the overall tax burden on goods, which is currently estimated to be around 25%-30%.

Introduction of GST would also make Indian products competitive in the domestic and international markets. Studies show that this would have a boosting impact on economic growth. Last but not the least, this tax, because of its transparent and self-policing character, would be easier to administer.

Important GST Notifications Issued in the Month of June 2017

With the introduction of GST today, the regulatory body of indirect taxes, the Central Board of Excise and Customs (CBEC) has issued certain important notifications.

The notifications could be broadly categorised under the following heads:

  1. Central Tax Notifications
  2. Central Tax (Rate) Notifications
  3. Integrated Tax Notifications
  4. Integrated Tax (Rate) Notifications
  5. Union Territory Tax
  6. Union Territory Tax (Rate)

Important GST Notifications Issued in the Month of June 2017

  1. Central Tax Notifications

Notification No. 7/2017 dated 27 June 2017 – Amendments to the Central Goods and Services Tax (CGST) Rules, 2017
The following key amendments have been made to the CGST Rules, 2017:

Earlier provisionAmendmentEffect of amendment
Registration granted to a person shall be liable to be cancelled if there is non-compliance with the provisions of anti-profiteering measures.It would be pertinent for every assesse to strictly comply with the anti-profiteering measures.
If a certificate of registration has not been made available to a migrating applicant within 15 days from the date of furnishing of required information and particulars, and no notice has been received, the registration would be deemed to have been granted.The migrating applicant would not have to wait for confirmation of registration after the lapse of 15 days.
When an order of temporary/suo moto registration has been passed by an officer in relation to any person in Form REG-12, such person has a period of thirty days to file application for proper registration.The words ‘thirty days’ have been substituted with the words ‘ninety days’ in Form REG-12.The person to whom a temporary registration is granted should file an application within a period of 90 days from the date of grant of such registration.

Important GST Notifications Issued in the Month of June 2017

Sr. No.Notification No.Subject
  8/2017 dated
28 June 2017 – CGST Act, 2017
The notification seeks to notify the turnover limit for the composition levy for CGST.
  9/2017 dated
28 June 2017 – CGST Act, 2017
and
3/2017 dated 28 June 2017 – IGST Act, 2017
The notification provides for the enforcement of certain sections of the CGST Act, 2017 and the IGST Act, 2017 respectively with effect from 1 July 2017
  10/2017 dated
28 June 2017 – CGST Act, 2017
The Notification No.3/2017 has been amended vide Notification No.10/2017-Central Tax to notify the following rules:

  • Valuation Rules
  • ITC Rules
  • Tax Invoice, Credit and Debit Notes
  • Accounts and Records Rules
  • Return Rules
  • Payment of Tax Rules
  • Refund Rules
  • Assessment and Audit Rules
  • Advance Ruling Rules
  • Appeals and Revision Rules
  • Transition Rules
  • Ant-profiteering Rules
  • E-way Rules (Currently, such rules have not been implemented and have been postponed up to a time when an e-way bill system is developed and approved by the council)
4. 11/2017 dated
28 June 2017
 
  12/2017 dated
28 June 2017 – CGST Act, 2017
and
5/2017 dated
28 June 2017 – IGST Act, 2017
The requirement of mentioning the Harmonised System of Nomenclature (HSN) codes in the tax invoice has been notified:

Sr. No.Annual turnover in the preceding financial yearNumber of digits of HSN code
 Up to INR 15 millionNil
 More than INR 15 million and up to INR 50 million2
 More than INR 50 million4
  13/2017 dated
28 June 2017 – CGST Act, 2017
and
6/2017 dated 28 June 2017 – IGST Act, 2017
Interest rates for the purpose of certain provisions of the CGST Act, 2017 have been notified. The interest rates range from 6% to 24% in various scenarios.

Important GST Notifications Issued in the Month of June 2017

  1. Central Tax Rates notifications
Sr. No.Notification No.Subject
  1/2017 dated
28 June 2017
The schedule of CGST rates applicable on goods and services has been notified vide such notification.

For the purpose of interpretation of these notifications, the rules of interpretation of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), including the section and chapter notes and the general explanatory notes of the First Schedule, shall apply.

  2/2017 dated
28 June 2017
Certain goods which are going to be exempt from the levy of CGST have been notified vide such notification.
  3/2017 dated
28 June 2017
Certain supplies which are to be taxed at a concessional rate of CGST have been notified vide such notification.

The concession is provided to the goods which are covered in the petroleum and oil exploration industry.

  4/2017 dated
28 June 2017
The goods and services on which tax is required to be paid under the reverse charge mechanism have been notified videsuch notification.
  5/2017 dated
28 June 2017
The notification provides that the taxpayers dealing in commodities with inverted tax structures (where the rate of tax on inputs is higher than the rate of tax on the output supplies, other than nil rated or fully exempt supplies), shall be able to claim a refund of unutilised input tax credit.
  8/2017 dated
28 June 2017
The notification provides that intra-state supplies of goods or services, or both, received by a registered person from an unregistered supplier have been exempted from the reverse charge mechanism up to the extent of INR 5,000 per day.
  9/2017 dated
28 June 2017
The notification provides that no tax would be required to be paid under the reverse charge mechanism in case of intra-state supply to a deductor by an unregistered supplier.
  10/2017 dated
28 June 2017
Intra-state supplies of second-hand goods received by a registered person, dealing in buying and selling of second-hand goods and who pays central tax on the value of outward supply of such second-hand goods, from any supplier, who is not registered, shall be exempt vide such notification.
  11/2017 dated
28 June 2017
The CGST rate of 37 services has been notified vide such notification.
  12/2017 dated
28 June 2017
Certain services which have been exempted have been provided vide such notification.
  13/2017 dated
28 June 2017
Nine services have been prescribed in respect of which the tax would be required to be paid under the reverse charge mechanism.
  14/2017 dated
28 June 2017
Certain activities which would neither be treated as supply of goods nor supply of services are covered under this notification.
  15/2017 dated
28 June 2017
No refund of ITC in the case of services of ‘construction of a complex, building, civil structure or a part thereof, including a complex or building intended for sale to a buyer, wholly or partly, except where the entire consideration has been received after the issuance of a completion certificate.
 16/2017 dated 28 June 2017The notification has provided for the refund of taxes paid on notified supplies of goods or services, or both, received by certain specialised agencies
  17/2017 dated
28 June 2017
The notification has provided that in case of intra-state supply of certain services, the tax shall be paid by the e-commerce operator

Important GST Notifications Issued in the Month of June 2017

  1. Integrated Tax notifications
    Notifications corresponding to those issued under the CGST Act, in relation to rates on supply of goods and services, have been issued under the provisions of the IGST Act. They can be accessed here.

    Integrated Tax Notifications

    Notification No.
    Date of Issue
    Subject
    06/2017-Integrated Tax28-06-2017Seeks to prescribe rate of interest under CGST Act, 2017
    05/2017-Integrated Tax28-06-2017Seeks to notify the number of HSN digits required on tax invoice
    04/2017-Integrated Tax28-06-2017Seeks to notify IGST Rules, 2017
    03/2017-Integrated Tax28-06-2017Seeks to bring into force certain sections of the IGST Act, 2017 w.e.f 01.07.2017
    02/2017-Integrated Tax19-06-2017Seeks to empower the Principal Commissioner of Central Tax, Bengaluru West to grant registration in case of online information and database access or retrieval services provided or agreed to be provided by a person located in non-taxable territory and received by a non-taxable online recipient.
    01/2017-Integrated Tax19-06-2017Seeks to bring certain sections of the IGST Act, 2017 into force w.e.f. 22.06.2017

    Important GST Notifications Issued in the Month of June 2017

    4. Integrated Tax (Rate) Notifications

Notification No.  
Date of Issue
Subject
18/2017-Integrated Tax (Rate)05-07-2017IGST exemption to SEZs on import of Services by a unit/developer in an SEZNotification 64/2017-Cus,dt. 05-07-2017 – IGST exemption to SEZs on import of Goods by a unit/developer in an SEZ   
17/2017-Integrated Tax (Rate) 05-07-2017Rescinding Notification No. 15/2017-Integrated Tax (Rate) dated 30.06.2017
16/2017-Integrated Tax (Rate) 30-06-2017Seek to reduce the rate of Central Tax, Union Territory Tax, on fertilisers from 6% to 2.5% and Integrated Tax rate on fertilisers from 12% to 5%
15/2017-Integrated Tax (Rate) 30-06-2017Notification for Exemption from Integrated Tax to SEZ
14/2017-Integrated Tax (Rate)28-06-2017To notify the categories of services the tax on inter-State supplies of which shall be paid by the electronic commerce operator
13/2017-Integrated Tax (Rate) 28-06-2017To notify specialised agencies entitled to claim a refund of taxes paid on the notified supplies of goods or services or both received by them under IGST Act
12/2017-Integrated Tax (Rate) 28-06-2017To notify the supplies not eligible for refund of unutilized ITC under IGST Act
11/2017-Integrated Tax (Rate) 28-06-2017To notify the supplies which shall be treated neither as a supply of goods nor a supply of service under the IGST Act
10/2017-Integrated Tax (Rate) 28-06-2017To notify the categories of services on which integrated tax will be payable under reverse charge mechanism under IGST Act
09/2017-Integrated Tax (Rate) 28-06-2017To notify the exemptions on supply of services under IGST Act

Important GST Notifications Issued in the Month of June 2017

Notification No. & 
Date of Issue
Subject
08/2017-Integrated Tax (Rate) 28-06-2017To notify the rates for supply of services under IGST Act
07/2017-Integrated Tax (Rate)28-06-2017Exemption from IGST supplies by CSD to Unit Run Canteens and supplies by CSD / Unit Run Canteens to authorised customers under section 6 (1)
06/2017-Integrated Tax (Rate)28-06-2017Notification prescribing refund of 50% of IGST on supplies to CSD under section 20
05/2017-Integrated Tax (Rate)28-06-2017Supplies of goods in respect of which no refund of unutilised input tax credit shall be allowed
04/2017-Integrated Tax (Rate)28-06-2017Reverse charge on certain specified supplies of goods under section 5 (3)
03/2017-Integrated Tax (Rate)28-06-2017Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on the recommendations of the Council, hereby notifies the rate of the integrated tax.
02/2017-Integrated Tax (Rate)28-06-2017Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on the recommendations of the Council, hereby notifies the rate of the integrated tax.
01/2017-Integrated Tax (Rate)28-06-2017Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on the recommendations of the Council, hereby notifies the rate of the integrated tax.

Important GST Notifications Issued in the Month of June 2017

5. Union Territory Tax
Notification No. 
Date of Issue
Subject
03/2017-Union Territory Tax28-06-2017Seeks to appoints the 1stday of July, 2017, as the date on which the provisions of sections 6 to 16, 18 to 20 and 23 to 26 of Union Territory Goods and Services Tax Act, 2017 (14 of 2017)shall come into force.
02/2017-Union Territory Tax27-06-2017Seeks to notify the turnover limit for Composition Levy for UTGST
01/2017-Union Territory Tax21-06-2017

Important GST Notifications Issued in the Month of June 2017

6. Union Territory Tax (Rate)

 

Notification No. & Date of Issue
Date of Issue
Subject
18/2017-Union Territory Tax (Rate)30-06-2017Seek to reduce the rate of Central Tax, Union Territory Tax, on fertilisers from 6% to 2.5% and Integrated Tax rate on fertilisers from 12% to 5%
17/2017-Union Territory Tax (Rate) 28-06-2017To notify the categories of services the tax on intra-State supplies of which shall be paid by the electronic commerce operator
16/2017-Union Territory Tax (Rate)28-06-2017To notify specialised agencies entitled to claim a refund of taxes paid on the notified supplies of goods or services or both received by them under UTGST Act
15/2017-Union Territory Tax (Rate) 28-06-2017To notify the supplies not eligible for refund of unutilised ITC under UTGST Act
14/2017-Union Territory Tax (Rate)28-06-2017To notify the supplies which shall be treated neither as a supply of goods nor a supply of service under the UTGST Act
13/2017-Union Territory Tax (Rate)28-06-2017To notify the categories of services on which union territory tax will be payable under reverse charge mechanism under UTGST Act
12/2017-Union Territory Tax (Rate)28-06-2017To notify the exemptions on supply of services under UTGST Act
11/2017-Union Territory Tax (Rate)28-06-2017To notify the rates for supply of services under UTGST Act
10/2017-Union Territory Tax (Rate)28-06-2017UTGST exemption for dealers operating under Margin Scheme notified under section 8 (1)
09/2017-Union Territory Tax (Rate)28-06-2017Notification exempting supplies to a TDS deductor by a supplier, who is not registered, under section 8 (1)

Important GST Notifications Issued in the Month of June 2017

Notification No.
Date of Issue
Subject
08/2017-Union Territory Tax (Rate)28-06-2017UTGST exemption from reverse charge upto Rs.5000 per day under section 8 (1)
07/2017-Union Territory Tax (Rate)28-06-2017Exemption from UTGST supplies by CSD to Unit Run Canteens and supplies by CSD / Unit Run Canteens to authorised customers notified under section 8 (1) and section 55 CSD of CGST Act
06/2017-Union Territory Tax (Rate)28-06-2017Notification prescribing refund of 50% of UTGST on supplies to CSD under section 55 of CGST Act
05/2017-Union Territory Tax (Rate) 28-06-2017Notification specifying supplies of goods in respect of which no refund of unutilised input tax credit shall be allowed under section 54 (3) of CGST Act
04/2017-Union Territory Tax (Rate) 28-06-2017Notification prescribing reverse charge on certain specified supplies of goods under section 7 (3)
03/2017-Union Territory Tax (Rate) 28-06-20172.5% concessional UTGST rate for supplies to Exploration and Production notified under section 8 (1)
02/2017-Union Territory Tax (Rate)28-06-2017UTGST exempt goods notified under section 8 (1)
01/2017-Union Territory Tax (Rate) 28-06-2017UTGST Rate Schedule notified under section 7 (1)

Important GST Notifications Issued in the Month of June 2017

Check here to know more on GST and to download GST Billing Rules :

SL NO. TOPICSLINK
1.Invoicing Under GST CHECK HERE
2.Invoicing Under GST RulesCHECK HERE

Check here to know more on GST HSN Code with Rate :

SL NO. TOPICSLINK
1.GST Rate ScheduleCHECK HERE
2.GST Rate by GST CouncilCHECK HERE
3.GST HSN Codes EnrollnmentCHECK HERE

Check here to know more on GST HSN CODE in Excel Format :

SL NO. TOPICSLINK
1.GST HSN Code list in Excel FormatCHECK HERE
2.GST Rate List with HSN Code – All Items ListCHECK HERE
3.GST Invoice Format PDFCHECK HERE
4.GST Invoice Format ExcelCHECK HERE
5.

HSN Code List for GST in Word

CHECK HERE 
6. Item Wise GST Rates Decided on 18th June 2017 on Certain ServicesCHECK HERE

Check here to know more on GST Delivery Challan :

SL NO. TOPICSLINK
1.GST Delivery Challan Excel format 1CHECK HERE
2.GST Delivery Challan Excel format 2CHECK HERE
3.GST Delivery Challan PDF formatCHECK HERE

For more on GST and Important GST Notifications Issued in the Month of June 2017 log onto www.cakart.in

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