National Academy of Customs, Indirect Taxes and Narcotics (NACIN) GST Update Weekly Update 12.08.2017 National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

National Academy of Customs, Indirect Taxes and Narcotics (NACIN) Background This Presentation covers the GST changes / observations/ press releases/ Tweet FAQs/ Sectoral FAQs released by CBEC since the last update on 05.08.2017. It supplements the earlier GST Updates. This presentation is based on CGST Act/Rules/ Notifications. Similar parallel provisions in State Laws may be referred to as required CST/VAT/CE/ST …all will be subsumed in GST; Electricity duty/ petroleum products…. Not subsumed; CGST/SGST/UTSGST/IGST? ; National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

Exports under Bond/LUT http://www.cbec.gov.in/resources//htdocs-cbec/gst/circularno-5-gst.pdf Clarification on issues related to furnishing of Bond/Letter of Undertaking for Exports issued vide Circular No. 05/2017-GST Conditions to be fulfilled for export under Letter of Undertaking (LUT) in place of bond Any registered person who has received a minimum foreign inward remittance of 10% of export turnover in the preceding financial year is eligible for availing the facility of LUT provided that the amount received as foreign inward remittance is not less than Rs. One crore. National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

Exports under Bond/LUT Status holders as specified in paragraphs 3.20 and 3.21 of the Foreign Trade Policy 2015-2020 eligible for LUT facility regardless of the above conditions. Form for LUT Bonds are furnished on non-judicial stamp paper; LUTs are generally submitted on the letterhead containing signature and seal of the person or the person authorized LUT/bond should be processed on top most priority and should be accepted within a period of three working days from the date of submission of LUT/bond along with complete documents by the exporter National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

Forward inward remittance in Indian Rupee Para A (v) Part-I of RBI Master Circular no. 14/2015-16 dated July 1, 2015 “there is no restriction on invoicing of export contracts in Indian Rupees in terms of the Rules, Regulations, Notifications and Directions framed under the Foreign Exchange Management Act 1999. Further, in terms of Para 2.52 of the Foreign Trade Policy (2015-2020), all export contracts and invoices shall be denominated either in freely convertible currency or Indian rupees but export proceeds shall be realized in freely convertible currency. However, export proceeds against specific exports may also be realized in rupees, provided it is through a freely convertible Vostro account of a non-resident bank situated in any country other than a member country of Asian Clearing Union (ACU) or Nepal or Bhutan”. National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

Forward inward remittance in Indian Rupee Supplies of goods to Nepal or Bhutan or SEZ developer or SEZ unit LUT instead of a bond permissible irrespective of whether the payments are made in Indian currency or convertible foreign exchange as long as they are in accordance with applicable RBI guidelines. Supply of services to SEZ developer or SEZ unit will also be permissible on the same lines. The supply of services, however, to Nepal or Bhutan will be deemed to be export of services only if the payment for such services is received by the supplier in convertible foreign exchange National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

Acceptance of LUT/Bond Bond/LUT shall be accepted by the jurisdictional Deputy/Assistant Commissioner having jurisdiction over the principal place of business of the exporter Exporter is at liberty to furnish the bond/LUT before Central Tax Authority or State Tax Authority till the administrative mechanism for assigning of taxpayers to respective authority is implemented. Documents as proof for LUT Self-declaration by exporters Self-attested copy of the proof of Status National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

National Academy of Customs, Indirect Taxes and Narcotics (NACIN) GSTR-1 Notification No. 18/2017 – Central Tax dt. 08.08.17 Sl. No. Month Time period for filing of details of outward supplies in FORM GSTR-1 1 July, 2017 1st to 5th September, 2017 2 August, 2017 16th to 20th September, 2017 National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

National Academy of Customs, Indirect Taxes and Narcotics (NACIN) GSTR-2 Notification No. 19/2017 – Central Tax dt. 08.08.17 Sl. No. Month Time period for filing of details of outward supplies in FORM GSTR-2 1 July, 2017 6th to 10th September, 2017 2 August, 2017 21st to 25th September, 2017 National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

National Academy of Customs, Indirect Taxes and Narcotics (NACIN) GSTR-3 Notification No. 20/2017 – Central Tax dt. 08.08.17 Sl. No. Month Time period for filing of details of outward supplies in FORM GSTR-3 1 July, 2017 11th to 15th September, 2017 2 August, 2017 26th to 30th September, 2017 National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

National Academy of Customs, Indirect Taxes and Narcotics (NACIN) GSTR- 3B Notification No. 21/2017 – Central Tax dt. 08.08.17 Sl. No. Month Time period for filing of details of outward supplies in FORM GSTR-3B 1 July, 2017 20th August, 2017 2 August, 2017 20th September, 2017 National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

National Academy of Customs, Indirect Taxes and Narcotics (NACIN) ROSL http://www.cbec.gov.in/resources//htdocs-cbec/customs/cs-circulars/cs-circulars-2017/circ34-2017cs.pdf Export of Garments and Made-ups; Circular No. 34/2017-Customs dated 9th Aug 2017 Pre-GST Rates of Return of State Levies (RoSL) Continued for transition period of three months up to 30.09.2017 Revised undertaking to be submitted National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

GST Portal- www.gst.gov.in E-Sign services from GST Portal disabled as the services are not stable at the moment. The moment they become stable, it will be made available on portal again. GSTR-3B filing started; Last date of filing the GSTR-3B for July month is 20th August, 2017 National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

National Academy of Customs, Indirect Taxes and Narcotics (NACIN) GST and Exports Quoting GSTIN in Shipping bill is mandatory, if the export product attracts GST for domestic clearances The claim for refund of IGST paid or Input Tax Credit on inputs consumed in goods exported cannot be processed without GSTIN and GST Invoice details in Shipping Bill. Without GSTIN or PAN or UIN, the Shipping bill cannot be filed. Taxable value and Tax amount should be mentioned against each item in the Shipping bill for processing the refund amount. Multiple tax invoices issued by same GSTIN holder are allowed in one Shipping bill for the same consignee. http://www.cbec.gov.in/resources//htdocs-cbec/gst/GST%20and%20Exports%20-materail%20for%20advertisement%20v2.1.pdf National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

Legacy work of Central Excise & Service Tax post GST Delegation of powers for the purpose of assignment of adjudication of show cause notices Power of assigning the adjudication of SCN under CEA, 1944 and Finance Act, 1994 exercisable by Board ..delegated to Principal Chief Commissioner of Central Excise / Chief Commissioner of Central Excise http://www.cbec.gov.in/resources//htdocs-cbec/excise/cx-act/notifications/notfns-2017/cx-nt2017/cent14-2017.pdf National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

Legacy work of LTUs post GST http://www.cbec.gov.in/resources//htdocs-cbec/excise/cx-circulars/cx-circulars-2017/circ1056-2017cx.pdf Detailed procedure for listing of files, shifting of files from LTUs to Jurisdictional Central Excise Commissionerates outlined Special Audit Cases to be transferred to territorial Jurisdictional Audit Commissionerates All files pertaining to technical/planning sections to be preserved by a CGST Commissionerate as nominated by the local Chief Commissioner National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

National Academy of Customs, Indirect Taxes and Narcotics (NACIN) Any ISSUES/ queries? Twitter Handles For General Questions https://twitter.com/askGST_GoI For technology related issues https://twitter.com/askGSTech NACIN twitter https://twitter.com/GSTNACIN National Academy of Customs, Indirect Taxes and Narcotics (NACIN)

National Academy of Customs, Indirect Taxes and Narcotics (NACIN) THANK YOU National Academy of Customs, Indirect Taxes and Narcotics (NACIN)