{"id":20031,"date":"2022-11-30T09:48:13","date_gmt":"2022-11-30T09:48:13","guid":{"rendered":"http:\/\/34.100.199.175\/?page_id=20031"},"modified":"2023-06-15T10:47:52","modified_gmt":"2023-06-15T10:47:52","slug":"gst-act","status":"publish","type":"page","link":"https:\/\/mybillbook.in\/s\/gst-goods-and-services-tax\/gst-act\/","title":{"rendered":"GST Act"},"content":{"rendered":"<p>[vc_row][vc_column][vc_column_text]<\/p>\n<h1 class=\"zox-post-title left entry-title\" style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"GST_Act\"><\/span>GST Act<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<h2 id=\"h-what-is-the-gst-act\"><span class=\"ez-toc-section\" id=\"What_is_the_GST_Act\"><\/span>What is the GST Act?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The\u00a0GST Act\u00a0has been adopted to make a facility for collection of tax as well as a levy on the supply of goods or services of intrastate or both by the Central Government and the affairs associated with it.[\/vc_column_text][vc_column_text]<span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;\\n&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\"><div class='ai-viewports ai-viewport-1 ai-insert-15-79421251' style='margin: 8px 0px; clear: both; padding-left: 325px;' data-insertion-position='prepend' data-selector='.ai-insert-15-79421251' data-insertion-no-dbg data-code='PGRpdiBjbGFzcz0nY29kZS1ibG9jayBjb2RlLWJsb2NrLTE1JyBzdHlsZT0nbWFyZ2luOiA4cHggMHB4OyBjbGVhcjogYm90aDsgcGFkZGluZy1sZWZ0OiAzMjVweDsnPgo8YSBocmVmPSJodHRwczovL215YmlsbGJvb2suaW4vY3JlYXRlLWFjY291bnQvIj4gPGltZyBzcmM9Imh0dHA6Ly9teWJpbGxib29rLmluL3Mvd3AtY29udGVudC91cGxvYWRzLzIwMjMvMDYvR2VuZXJhdGUtR1NULVJlcG9ydHMtTm93LnBuZyIgYWx0PSJnZW5lcmF0ZSBnc3QgcmVwb3J0cyI+IDwvYT4KPC9kaXY+Cg==' data-block='15'><\/div>\n<script>\n  ai_run_605325963623 = function(){ai_insert_viewport_code ('ai-insert-15-79421251');};\n  if (document.readyState === 'complete' || (document.readyState !== 'loading' && !document.documentElement.doScroll)) ai_run_605325963623 (); else document.addEventListener ('DOMContentLoaded', ai_run_605325963623);\n<\/script>\n<br \/>\n<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<h2 id=\"h-how-many-sections-are-there-in-the-gst-act\"><span class=\"ez-toc-section\" id=\"How_many_sections_are_there_in_the_GST_Act\"><\/span>How many sections are there in the GST Act?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Under\u00a0GST Act 2017, there are a total of 174 sections or acts which you would find category-wise right below:<\/p>\n<p><strong>Section 1 \u2013 2<\/strong>\u00a0is all about definitions, commencement, and a short title that comes under GST law.<\/p>\n<p><strong>Section 3 \u2013 6<\/strong>\u00a0explains the administration of the GST regime including power, authorization, and appointment of officers.<\/p>\n<p><strong>Section 7 \u2013 11<\/strong>\u00a0deals with the levy and collection of tax under GST.<\/p>\n<p><strong>Section 12 \u2013 15<\/strong>\u00a0is all about time and the value of the supply of goods and services as well.<\/p>\n<p><strong>Section 16 \u2013 21<\/strong>\u00a0includes input tax credit matters such as appointment, distribution, eligibility, availability, etc.<\/p>\n<p><strong>Section 22 \u2013 30<\/strong>\u00a0explains about registration process under\u00a0<strong>GST Act<\/strong>.<\/p>\n<p><strong>Section 31 \u2013 34<\/strong>\u00a0involves tax invoice, credit, and debit notes.<\/p>\n<p><strong>Section 35 \u2013 36<\/strong>\u00a0is about accounts and other records and the period of retention of accounts.<\/p>\n<p><strong>Section 37 \u2013 48<\/strong>\u00a0deals with returns under GST like first return, annual return, final return, and so on.<\/p>\n<p><strong>Section 49 \u2013 53A<\/strong>\u00a0is all about the payment of tax as per the GST regime.<\/p>\n<p><strong>Section 54 \u2013 58<\/strong>\u00a0includes GST-related refund matters such as consumer welfare fund, utilization of fund, refund of tax, etc.<\/p>\n<p><strong>Section 59 \u2013 64<\/strong>\u00a0comprises provisional assessment, self-assessment, assessment of unregistered persons, and more under GST law.<\/p>\n<p><strong>Section 65 \u2013 66<\/strong>\u00a0is about special audits and audits by tax authorities.<\/p>\n<p><strong>Section 67 \u2013 72<\/strong>\u00a0constitutes seizure, arrest, search, and inspection that comes under GST law.<\/p>\n<p><strong>Section 73 \u2013 84<\/strong>\u00a0deals with demands and recovery that are related to the GST regime.<\/p>\n<p><strong>Section 85 \u2013 94<\/strong>\u00a0is all about liability to pay in a certain case under GST.<\/p>\n<p><strong>Section 95 \u2013 106<\/strong>\u00a0all these sections under the GST act deal with the advance ruling that includes application, procedure, and authority, etc.<\/p>\n<p><strong>Section 107 \u2013 121<\/strong>\u00a0explains appeals and revision in GST.<\/p>\n<p><strong>Section 122 \u2013 138<\/strong>\u00a0describes penalties and offences in the GST regime.<\/p>\n<p><strong>Section 139 \u2013 142<\/strong>\u00a0is about transitional provisions like the migration of existing taxpayers, miscellaneous transitional provisions, etc.<\/p>\n<p><strong>Section 143 \u2013 174<\/strong> includes a long list of miscellaneous items in GST such as common portal, job work procedure, the burden of proof, deemed exports, levy of fee, etc.[\/vc_column_text][vc_column_text]<span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;\\n&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\"><div class='ai-viewports ai-viewport-1 ai-insert-15-66078474' style='margin: 8px 0px; clear: both; padding-left: 325px;' data-insertion-position='prepend' data-selector='.ai-insert-15-66078474' data-insertion-no-dbg data-code='PGRpdiBjbGFzcz0nY29kZS1ibG9jayBjb2RlLWJsb2NrLTE1JyBzdHlsZT0nbWFyZ2luOiA4cHggMHB4OyBjbGVhcjogYm90aDsgcGFkZGluZy1sZWZ0OiAzMjVweDsnPgo8YSBocmVmPSJodHRwczovL215YmlsbGJvb2suaW4vY3JlYXRlLWFjY291bnQvIj4gPGltZyBzcmM9Imh0dHA6Ly9teWJpbGxib29rLmluL3Mvd3AtY29udGVudC91cGxvYWRzLzIwMjMvMDYvR2VuZXJhdGUtR1NULVJlcG9ydHMtTm93LnBuZyIgYWx0PSJnZW5lcmF0ZSBnc3QgcmVwb3J0cyI+IDwvYT4KPC9kaXY+Cg==' data-block='15'><\/div>\n<script>\n  ai_run_909296821191 = function(){ai_insert_viewport_code ('ai-insert-15-66078474');};\n  if (document.readyState === 'complete' || (document.readyState !== 'loading' && !document.documentElement.doScroll)) ai_run_909296821191 (); else document.addEventListener ('DOMContentLoaded', ai_run_909296821191);\n<\/script>\n<br \/>\n<\/span>[\/vc_column_text][vc_column_text]<\/p>\n<h2 id=\"h-objectives-of-the-gst-act-2017\"><span class=\"ez-toc-section\" id=\"Objectives_of_the_GST_Act_2017\"><\/span>Objectives of the GST Act 2017<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Under the 2017 GST Act, the Central Government imposed taxes on the provision of certain services in the form of service tax, manufacture of certain goods in the form of Central Excise duty, inter-state sale of goods in the form of Central Sales tax, and more. Likewise, the State Governments imposed taxes on the entry of goods in the State in the form of entry tax, retail sales in the form of value-added tax, purchase tax, luxury tax, and so on. There are several difficulties faced under old taxation laws such as cascading of taxes, disparate tax rates, dissimilar tax practices, non-tariff barriers, and so on. All of these taxes come under the list of GST (goods and services tax) that would be imposed on supplies right from manufacture or import to the last level of retail. Therefore any tax imposed by the State Governments or the Central Government on the distribution of goods or services has now been added to GST. It is nothing but a dual levy where the State Government (SGST Act 2017) and the Central Government (CSGT Act 2017) will levy and collect tax in the form of central and state goods or services tax.[\/vc_column_text][vc_column_text]<\/p>\n<h2 id=\"h-who-is-liable-for-registration-under-gst-act-2017\"><span class=\"ez-toc-section\" id=\"Who_is_liable_for_registration_under_GST_Act_2017\"><\/span>Who is liable for registration under GST Act 2017?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Except for the suppliers of special category states, every supplier should register under GST Act in the State or Union territory if his aggregate turnover is more than<span class=\"WebRupee\">\u00a0Rs.\u00a0<\/span>20 lakhs in a fiscal year.<\/li>\n<\/ul>\n<ul>\n<li>Suppliers of special category states should register under this act if their aggregate turnover is<span class=\"WebRupee\">\u00a0Rs.\u00a0<\/span>10 lakhs in a fiscal year.<\/li>\n<\/ul>\n<ul>\n<li>Every individual who has a license or is registered under an existing law right after the appointed day should register under the act<\/li>\n<\/ul>\n<ul>\n<li>Any taxable person who undertakes a business should register under this act.<\/li>\n<\/ul>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<h3 id=\"h-features-of-cgst-act-2017\">Features of CGST Act 2017<\/h3>\n<p>The salient features of the\u00a0<strong><a href=\"https:\/\/mybillbook.in\/blog\/cgst-act\/\" target=\"_blank\" rel=\"noreferrer noopener\">CGST Act<\/a><\/strong>\u00a02017 are given below:<\/p>\n<ul>\n<li>To make the base of the input tax credit broad by making it accessible with regards to taxes paid on supply of services or goods or both intended to be used or just used in the furtherance or course of business;<\/li>\n<li>To impose a tax on all supplies of goods or services of intra-State or both;<\/li>\n<li>To render for the conduct of an audit of registered individuals to check compliance with the provisions of the Act;<\/li>\n<li>To adopt obligation on electronic commerce operators to accommodate TDS at 1% of the value of taxable supplies and out of payments to distributors distributing services or goods through their online portals;<\/li>\n<li>To form facilities for penalties to contravene the provisions of the proposed regime;<\/li>\n<li>To provide for powers of seizure, search, arrest, and inspection to the officers;<\/li>\n<li>To implement the Goods and Services Tax Appellate Tribunal by the Central Government to hear requests against the orders given by the Revisional Authority or the Appellate Authority;<\/li>\n<li>To provide for the elaboration of transitional provisions to make the transition of existing taxpayers smooth;<\/li>\n<li>To provide for self-assessment of the registered person who pays taxes on supplied goods and services;<\/li>\n<li>To offer for an anti-profiteering clause to make sure that business is carried out on the advantage of reduced tax incidence on goods or services or both to the customers; and<\/li>\n<li>To provide for recovering the arrears of tax with the use of different models like movable and immovable property of defaulting taxable person, detaining and sale of goods<\/li>\n<\/ul>\n<p>[\/vc_column_text][vc_column_text]<span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;\\n&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\"><div class='ai-viewports ai-viewport-1 ai-insert-15-73749730' style='margin: 8px 0px; clear: both; padding-left: 325px;' data-insertion-position='prepend' data-selector='.ai-insert-15-73749730' data-insertion-no-dbg data-code='PGRpdiBjbGFzcz0nY29kZS1ibG9jayBjb2RlLWJsb2NrLTE1JyBzdHlsZT0nbWFyZ2luOiA4cHggMHB4OyBjbGVhcjogYm90aDsgcGFkZGluZy1sZWZ0OiAzMjVweDsnPgo8YSBocmVmPSJodHRwczovL215YmlsbGJvb2suaW4vY3JlYXRlLWFjY291bnQvIj4gPGltZyBzcmM9Imh0dHA6Ly9teWJpbGxib29rLmluL3Mvd3AtY29udGVudC91cGxvYWRzLzIwMjMvMDYvR2VuZXJhdGUtR1NULVJlcG9ydHMtTm93LnBuZyIgYWx0PSJnZW5lcmF0ZSBnc3QgcmVwb3J0cyI+IDwvYT4KPC9kaXY+Cg==' data-block='15'><\/div>\n<script>\n  ai_run_143281219846 = function(){ai_insert_viewport_code ('ai-insert-15-73749730');};\n  if (document.readyState === 'complete' || (document.readyState !== 'loading' && !document.documentElement.doScroll)) ai_run_143281219846 (); else document.addEventListener ('DOMContentLoaded', ai_run_143281219846);\n<\/script>\n<br \/>\n<\/span>[\/vc_column_text][vc_column_text]<\/p>\n<h3 id=\"h-what-is-gst-amendment-act\">What is GST Amendment Act<\/h3>\n<p>When it comes to the\u00a0GST amendment act\u00a0as a whole, duty on imported goods has been levied under the Customs Act. It further enables facilities that have been proposed to adopt GST and IGST compensation cess in imported goods into India. There is an amendment in the Excise legislation that restricts certain goods such as Petroleum products, Cigarettes, Tobacco products, and so on which cannot be subsumed in GST or at a later date. Various key cesses to be repealed like education cess and secondary and higher education cess on excisable goods, sugar cess, Krishi Kalyan Cess on services, Clean energy cess, NCCD, infrastructure cess, etc.[\/vc_column_text][vc_column_text]\t\t<div class=\"wp-faq-schema-wrap\">\n\t\t\t\t\t\t\t<h2><span class=\"ez-toc-section\" id=\"FAQS_about_GST_Act\"><\/span>FAQS about GST Act<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\t\t\t\t<div class=\"wp-faq-schema-items\">\n\t\t\t\t\t\t\t\t\t<h3>Does the value of inward supplies received is included in the aggregate turnover?<\/h3>\n\t\t\t\t\t<div class=\"\">\n\t\t\t\t\t\t<p>As per Section 2(6) of the CGST Act, the value of inward supplies on which tax is payable on a reverse charge basis is not included in the aggregate turnover.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<h3>Does the trader of country liquor need to register under GST from VAT as liquor is not included in the GST law?<\/h3>\n\t\t\t\t\t<div class=\"\">\n\t\t\t\t\t\t<p>No, there is no need to register under GST if an individual is involved in the supply of goods that do not come under GST.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<h3>Do rental earnings up to Rs. 20 lakhs attract any other charge or GST?<\/h3>\n\t\t\t\t\t<div class=\"\">\n\t\t\t\t\t\t<p>GST is imposed only if aggregate turnover exceeds Rs. 20 lakhs whereas it is applicable in special category States if turnover exceeds Rs. 10 lakhs. <\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t[\/vc_column_text][\/vc_column][\/vc_row][vc_section][vc_row][vc_column][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/3&#8243;][vc_column_text][\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/3&#8243;][vc_column_text][\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/3&#8243;][vc_column_text][\/vc_column_text][\/vc_column][\/vc_row][\/vc_section]<\/p>\n","protected":false},"excerpt":{"rendered":"[vc_row][vc_column][vc_column_text] GST Act [\/vc_column_text][vc_column_text] What is the GST Act? The\u00a0GST Act\u00a0has been adopted to make a facility for collection of tax as well as a levy on the supply of goods or services of intrastate or both by the Central [...]","protected":false},"author":9,"featured_media":20042,"parent":19178,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.5.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is GST | GST Act | Goods And Service Tax Act in India<\/title>\n<meta name=\"description\" content=\"About GST Act. 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