1. GST – Notifications & Circulars December 2018 Impact on Industry
CA Shankara Narayanan V
Chennai

2. CA Shankara Narayanan V
Goods Taxable
234. Following renewable energy devices & parts for their manufacture (a) Bio-gas plant (b) Solar power based devices (c) Solar power generating system (d) Wind mills, Wind Operated Electricity Generator (WOEG) (e) Waste to energy plants / devices (f) Solar lantern / solar lamp (g) Ocean waves/tidal waves energy devices/plants (h) Photo voltaic cells, whether or not assembled in modules or made up into panels
CA Shankara Narayanan V

3. CA Shankara Narayanan V
Notification : 24/2018 CTR
“Explanation: If the goods specified in this entry are supplied, by a supplier, along with supplies of other goods and services, one of which being a taxable service specified in the entry at S. No. 38 of the Table mentioned in the notification No. 11/2017-Central Tax (Rate), dated 28th June, [G.S.R. 690(E)], the value of supply of goods for the purposes of this entry shall be deemed as seventy per cent. of the gross consideration charged for all such supplies, and the remaining thirty per cent. of the gross consideration charged shall be deemed as value of the said taxable service.”;
CA Shankara Narayanan V

4. CA Shankara Narayanan V
Notification : 24/2018 CTR
Effective Tax Rate Goods = 70% * 5% = 3.5% Service = 30% * 18% = 5.4% Total 8.9%
CA Shankara Narayanan V

5. CA Shankara Narayanan V
Notification : 27/2018 CTR
Transportation of passengers, with or without accompanied baggage, by air, by non-scheduled air transport service or charter operations, engaged by specified organisations in respect of religious pilgrimage facilitated by the Government of India, under bilateral arrangement.
5% - Without ITC on Goods
CA Shankara Narayanan V

6. CA Shankara Narayanan V
Notification : 27/2018 CTR
Service of third party insurance of “goods carriage”
6% - With ITC
Leasing or renting of goods
Same rate of central / state tax as applicable on supply of like goods involving transfer of title in goods
CA Shankara Narayanan V

7. CA Shankara Narayanan V
Notification : 27/2018 CTR
Services by way of admission exhibition of cinematograph films where price of admission ticket is one hundred rupees or less
18% to 12%
(iia) Services by way of admission to exhibition of cinematograph films where price of admission ticket is above one hundred rupees
28% to 18%
CA Shankara Narayanan V

8. CA Shankara Narayanan V
Notification : 29/2018 CTR
RCM – GTA respite for
(a) a Department or Establishment of the Central Government or State Government or Union territory; or
(b) local authority; or
(c) Governmental agencies,
which has taken registration only for TDS
CA Shankara Narayanan V

9. CA Shankara Narayanan V
Notification : 29/2018 CTR
RCM – Additions
Service
Supplier
Recipient
CA Shankara Narayanan V

10. CA Shankara Narayanan V
Circular - 86/05/2019
What is the value to be adopted for the purpose of computing GST on services provided by BF/BC to a banking company?
Banks agreement with BC specifically prohibits them
from directly charging any fee to the customers
for services rendered by them on behalf of the bank
Bank charges to Customers in Transparent manner
CA Shankara Narayanan V

11. CA Shankara Narayanan V
Circular - 86/05/2019
What is the scope of services provided by BF/BC to a banking company with respect to accounts in its rural area branch that are eligible for existing GST exemption?
Rural Branch is decided by RBI
Exempted if above is satisfied
CA Shankara Narayanan V

12. CA Shankara Narayanan V
Notification : 29/2018 CTR
RCM – Additions
Service
Supplier
Recipient
CA Shankara Narayanan V

13. CA Shankara Narayanan V
Notification : 29/2018 CTR
RCM – Security Services respite for
(a) a Department or Establishment of the Central Government or State Government or Union territory; or
(b) local authority; or
(c) Governmental agencies,
which has taken registration only for TDS
a registered person paying tax under section 10 of the said Act
CA Shankara Narayanan V

14. CA Shankara Narayanan V
Notification : 30/2018 CTR
Explanation 2.-Nothing contained in this item shall apply to supply of a service other than by way of transport of goods from a place in India to another place in India
CA Shankara Narayanan V

15. CA Shankara Narayanan V
Notification : 78/2018 CT
Job Work
GST - ITC – 04 from July 2017 to December 2018
Due Date – 31st March 2019
CA Shankara Narayanan V

16. CA Shankara Narayanan V
Notification : 74/2018 CT
E-Way Bill – Restriction (a) being a person paying tax under section 10, has not furnished the returns for two consecutive tax periods; or (b) being a person other than a person specified in clause (a), has not furnished the returns for a consecutive period of two months
CA Shankara Narayanan V

17. CA Shankara Narayanan V
Notification : 74/2018 CT
Annual Return
Additional liability for the FY
not declared in FORM GSTR-1 and FORM GSTR-3B
may be declared in this return
CA Shankara Narayanan V

18. CA Shankara Narayanan V
Notification : 74/2018 CT
Annual Return
HSN Summary
Upto 1.5 crs – NIL ; 1.5 crs to 5 crs – 2 digits ; > 5 crs – 4 digits
only for inward supplies which in value independently account for 10 % or more of the total value of inward supplies
CA Shankara Narayanan V

19. CA Shankara Narayanan V
Notification : 73/2018 CT
TDS
Provided also that nothing in this notification shall apply to the supply of goods or services or both which takes place between one person to another person specified under clauses (a), (b), (c) and (d) of sub-section (1) of section 51 of the said Act
CA Shankara Narayanan V

20. CA Shankara Narayanan V
Circular - 85/04/2019
clarified that supply of food and beverages
to its students, faculty and staff
by the educational institution itself, is exempt
by any person under contract – 5%
Words ‘School, College’ removed from Notification 11/ CTR
CA Shankara Narayanan V

21. CA Shankara Narayanan V
Circular - 84/03/2019
Service of printing of pictures covered under – 18%
Also classifiable under HSN “Printing and reproduction services of recorded media, on a fee or contract basis – 12%
Explanatory Notes referred
Clarified as Taxable under 18%
CA Shankara Narayanan V

22. CA Shankara Narayanan V
Circular - 74/48/2018
TCS by Tea Board of India
Considered as ECO
For Sellers on NET VALUE of Supply of Goods
Auctioneers on NET Value of Supply of Services (i.e. Brokerage)
CA Shankara Narayanan V

23. CA Shankara Narayanan V
Circular - 76/50/2018
Supply of used vehicles, seized and confiscated goods, old and used goods, waste and scrap by Government departments
To Registered Person – RCM
To Unregistered Person – Govt. Dept to Register & PAY
CA Shankara Narayanan V

24. CA Shankara Narayanan V
Circular - 76/50/2018
Sec 73 (11) Penalty – when GSTR 3B has been filed
Tax Due not remitted within 30 days from Due Date - Penalty
“provisions of section 73 of the CGST Act are generally not invoked in case of delayed filing of the return in FORM GSTR-3B”
Only General Penalty u/s 125
CA Shankara Narayanan V

25. CA Shankara Narayanan V
Circular - 76/50/2018
Debit Note / Credit Note post GST for Supply before GST
Shall be Treated as Supply under GST
Rate to be taken accordingly
CA Shankara Narayanan V

26. CA Shankara Narayanan V
Circular - 76/50/2018
GST on TCS under Income Tax Act
Taxable Value to INCLUDE TCS
Kerala HC – PSN Automobile Pvt. Ltd - STAY
CA Shankara Narayanan V

27. CA Shankara Narayanan V
Circular - 76/50/2018
Sec 129 – Who is owner of Goods
If Invoice accompanies – Consignor or Consignee deemed as Owner
Otherwise – Proper Officer should determine
CA Shankara Narayanan V

28. CA Shankara Narayanan V
Circular - 79/53/2018
Physical submission of refund claims - few simplifications
Instead of copies of invoices, a statement of invoices to be submitted
Only those invoices not found in FORM GSTR-2A – to be submitted
Above can be uploaded – Physical NOT mandatory – Manual Option to continue
CA Shankara Narayanan V

29. CA Shankara Narayanan V
Circular - 79/53/2018
Refund of ITC due to Inverted Duty Structure
Calculation of Maximum Refund amount
After deducting Tax Payable on Inverted Duty Structure
Only INPUTS eligible for REFUND
CA Shankara Narayanan V

30. CA Shankara Narayanan V
Circular - 79/53/2018
Refund Disbursal – Officers
Instructed to give Order of Disbursal within 45 days of ARN
To enable payment within 60 days
CA Shankara Narayanan V

31. CA Shankara Narayanan V
Circular - 79/53/2018
Refund Application made before 31st Dec 2018 – Physical Copy NOT Submitted
ITC Refund cases – ITC Debited shall be RE-CREDITED
Other Refund up to Rs. 1,000/- - REJECT & RE-CREDIT
Other Refund more than Rs. 1,000/- - – 15 days time to Submit
CA Shankara Narayanan V

32. CA Shankara Narayanan V
Circular - 79/53/2018
Refund of Compensation Cess
Available on Zero Rated Outward Supplies
Available from 1st July 2017
Available on Inputs used for making Outputs which are Zero Rated Supplies
CA Shankara Narayanan V

33. CA Shankara Narayanan V
Circular - 79/53/2018
Refund of ITC – Invoice Issue
Invoice dated August 2017
ITC Availed in September 2017
Refund Claimed in September 2017
Such ITC AVAILED in September SHALL be INCLUDED for Refund calculation
CA Shankara Narayanan V

34. CA Shankara Narayanan V
Circular - 79/53/2018
Interpretation of INPUTS
inward supplies of stores and spares
packing materials etc.
shall be available as ITC if other conditions satisfied
CA Shankara Narayanan V

35. CA Shankara Narayanan V
Thank You
CA Shankara Narayanan V
CA Shankara Narayanan V