Highlights of Draft GST Rules (Registration, Invoicing, Payment, Return & Refund)
Following Draft GST Rules & formats were put on the public domain inviting suggestions upto 28th Sept 2016 giving only 1-2 days.
DRAFT GST FORMATS:
Business Process Reports on registrations, payment, return and refund were put on the public domain in the month of October 2015 and number of suggestions were invited. Model GST Law was put on the public domain on 14th June 2016 and around 40,000 suggestions were received. Stake Holders Meeting was arranged by Department of Revenue, CBEC and Empowered Committee of Finance Ministers independently and jointly and thereafter these rules were put on the public domain which may be perhaps approved and recommended by GST Council on 30th Sept, 16th& 17th October 2016. However, there is hardly any change in the provisions as mentioned in the Business
Process Reports. Most of the provisions without any changesare appearing in the Draft GST Rules.
Salient features of the same are given below:
1. Existing registered unit under Central Excise, Service Tax, VAT will be automatically registered and they will be granted Provisional Registration Certificate in Form GST REG-21andeach person will have to file the application in Form GST REG 20 within 6months from obtaining the provisional registration certificate.
2. Each person will have to obtain separate registration in each State online. However,the said registration is valid for CGST, IGST, SGST.
3. Registration Certificate would be granted in Form GST REG-06
4. GST Number will be 15 digit. State wise PAN-based 15-digit GSTIN
1st & 2nd Digit – State Code as defined under the Indian Census 2011 – unique two digit code
3rd to 12th Digit – PAN
13th Digit – alpha-numeric – 1 to 9 and then A to Z
14th Digit – Blank for future use
15th Digit – Check Digit
5. Registration will be granted to the person as defined under Income Tax Act 1961, i.e. “person” includes
(i) an individual,
(ii) a Hindu undivided family,
(iii) a company,
(iv) a firm,
(v) an association of persons or a body of individuals, whether incorporated or not,
(vi) a local authority, and
(vii) every artificial juridical person, not falling within any of the preceding sub-clauses.
Explanation.- For the purposes of this clause, an association of persons or a body of individuals or a local authority or an artificial juridical person shall be deemed to be a person, whether or not such person or body or authority or juridical person was formed or established or incorporated with the object of deriving income, profits or gains;
6. Registration will be granted to the following categories:
i. Normal Tax payer/ Regular: Any person can obtain the registration who had crossed the turnover of threshold limit or opted for such registration even though the turnover is less than threshold limit. Though the limit has not been specified in the business process report, it is expected to be Rs. 20 Lacs, however it will be substantially lower for North Eastern States. If any person wish to off for multiple registrations in one state that will also would be allowed at its option subject to having two different business verticals however no ITC credit / refund can be adjusted between such business verticals even though it is of same legal entity.
ii. Compounding Dealer Registration: The person whose turnover is below certain specified limit but above the threshold limit can opt for compounding registration. However once such specified limit crossed such registration will be automatically considered as normal tax payer. Though the limit has not been specified in the business process report, it is expected to be up to Rs. 50 Lacs.
iii. Casual Dealer Registration: Any person who do not have registration in particular State wish to obtain temporary registration for limited period, registration will be granted till the time it is require and it will be cancelled after 7 days of such validity of the period is This facility will be beneficial to the participants in any exhibition! event.
iv. Unique identification number (ID) for specified organization like UN, Government authorities / PSUs : Where it is expected to not have the incidence of tax like UN or when there are B2B transactions between any dealer and Government Authorities! PSUs unique identification number will be granted.
v. Input Service Distributor for Services: When any person have got multiple units but availing services at one unit!corporate office in such case such amount of GST will be distributed to other units and hence separate registration will have to be obtained by such unit.
vi. Suo-moto registration for enforcement cases by Tax Authorities: Whenever any enforcement Department visits to the non-registered dealer and certain amount is getting deposited, then suo-moto registration will be given and such dealer will be considered as registered dealer.
vii. Non-resident Supplier: Any non-resident person if recipient of supplier of the goods in India! state and do not have permanent establishment in India!State Such person can be granted the registration under the said category and such person needs to fulfil the requirement as required by casual tax payer.
7. Registration application will have following details:
I. Name of the Applicant
II. Trade Name
III. Address of Principal place of Business
IV. Address for Correspondence (Email, Mobile, Landline, Etc.)
V. Constitution of Business
VII. State Code
VIII. Option for Composition
IX. Date of Commencement of business
X. Date on which liability to tax pay arises
XI. Reason for liability to obtain registration (Drop down list will be provided)
XII. Details of existing registration if any
XIII. Nature of Business
XIV. Details pf Bank Account
XV. Details of Goods! Commodities supplied by the business
XVI. Details of services supplied by the business
XVII. Details of additional place of Business
XVIII. Details of Proprietor/ all partners/ karta/ M*anaging Director and whole time director/ member of Managing committee of associations ! Board of trustees – Name, PAN, Passport No. , UID No., DIN No, Contact Details and residential Address
XIX. Details of authorized signatories – Name, PAN, Passport No. UID No., DIN No, Contact Details and residential Address
XX. Details of authorized representative (TRP / CA / Advocate etc)
XXI. State specific information
8. Application has to done within 30 days of the liability however registration will be granted from the date of application It means any transaction prior to the date of application liability will be payable but ITC credit may not be allowed.
9. Online Application on GST Portal digitally signed – Manual submission required if not signed digitally and scanned copies will be submitted online.
10. Application will be processed within 3 common working days by both CGST and SGST authority and queries to be raised within 7 common working days. if no such queries are sent then registration will be deemed to be granted. If query is received it has to be replied within 7 common working days. Confirmatory mail will be send on SMS and Email. Further GSTN No. will be informing on email or SMS.Once any authority issue s the registration it will deemed to be issue by another authority also. If registration is cancelled it will be cancelled only after issuing speaking order which is appealable.
11. After getting GSTN Login Id and temporary password will be provided to the authorized signatory.
12. GST Registration certificate to be displayed at the principal place of business of the taxpayer
13. Perhaps definition of Gross turn over will be provided in forthcoming GST Act and it may include
14. Rejection of registration by either Centre ! State deems to be the rejection by the other Authority
15. Rating of Tax payer
This is the bold and perhaps first step in the Indian Taxation history. Risk profiling will be done by taxes authorities
The tax payer will be black listed and such trigger will be forwarded to all customers to whom supplies are made by such person and black listing would be done on the following events.
Continuous default for 3 months in paying ITC that has been reversed.
There are 26 formats prescribed under the registration rules mainly to have the uniformity from the stage of application till cancellation.
Details to be mentioned on Tax invoice
Details to be mentioned on ISD invoice :
Details to be mentioned Goods transport agency
Time limit for issue of Tax invoice
|Supply of Goods||At the time of supply|
|Supply of service||30 days from the date of supply of service|
|Continuous supply of services||30 days from the date when each event specified in the contract|
|Banking company & or a financial institution & non-banking financial||45 days from the date of supply of service|
Manner of issue of Tax invoice
|Supplier||Type of document|
|Supplier of goods and/ or services||Tax invoice|
|Banking company & or a financial institution & non-banking financial||a tax invoice or any other document|
|A goods transport agency||a tax invoice or any other document|
|Input Service Distributor||ISD Tax invoice|
|Non-taxable goods||Bill of supply|
|Composition levy||Bill of supply|
|Passenger transportation service||Ticket|
Payment will be made through following made:
1. Cash through challan at departmental counter upto 10,000/- only
2. Internet banking
3. Credit card/debit card
4. NEFT/ RTGS
Payment will be made by each tax payer and cash ledger and ITC ledger will be maintained by GSTN. Payment through cash/ internet banking will be from the date on which it is credited with bank portal to the Govt. account.
Any payment of through credit/debit card will be considered only from the date of credit of such amount to Govt. account. Interest will be charged on delayed payment.
In case of NEFT and RTGS if there are any disputes it will be responsibility of the tax payer and he needs to take up the issue with the banker, Govt./GSTN will not be responsible.
It has been recommended 26 banks and such bankers are authorized to collect separate processing charges from tax payer in addition to tax.
As a matter of fact tax payer is the agent to collect the Govt. revenue from purchaser and at present no bank charges are levied on tax collection and hence there will be additional cost burden for payment of tax.
Business process report provide detailed role to be played by each stake holder and also given the mechanism of reconciliation and accounting system including penalty mechanism on bankers.
|GSTR – 1||Details of outward supplies of taxable goods and/or services effected||* Provision for mentioning place of supply when different from the location of recipient||10 of subsequent month||1|
|GSTR – 1||* Provision for mentioning tax payable under reverse charge|
|GSTR – 1||* provision for mentioning provisional assesment|
|GSTR – 1||* Provision for corrections of previous month in outward supplies -B2B Supply – Intra state and inter state|
|GSTR – 1||* Provision for B2C Supply – Intra state and inter state|
|GSTR – 1||* Details for mentioning debit note and credit note and impact on tax including amendment in previous month’s debit note and credit note|
|GSTR – 1||* Details of outward supplies which are exempted, non-taxable and having Nil rate|
|GSTR – 1||* Details of Exports and Deemed Exports including amendment of previous month’s supplies|
|GSTR – 1||* Details of tax already paid on advances and subsequently corresponding invoice issued|
|GSTR – 1||* Documents reference to be generated for advance received and tax paid|
|GSTR – 1||* Provision for supply made to E-Commerce operator and amendment in subsequent month|
|GSTR – 1||* Invoice cut off and invoice control|
|GSTR – 1||* Auto correction after 1A acceptance|
|GSTR-1A||* Autopopulated for corrections
* Details of outward supplies as added, corrected or deleted by the recipient
|Acceptance / rejection option is with supplier on receipt of GSTR-2||1|
|GSTR – 2||* Inward supplies after acceptance (2-2A)
* Details of inward supplies of taxable goods and/or services claiming input tax credit
|Auto populated based on suppliers GSTR-1 and GSTR-2A||15||2|
|GSTR – 2||* Provision for mentioning place of supply when different from the location of recipient|
|GSTR – 2||* Eligibility of ITC Credit on inputs, capital goods & input services, partial or full or ineligibility to be mentioned against each transactions of inward supplies|
|GSTR – 2||* Provision to include any inward supplies which has not been auto populated|
|GSTR – 2||* Provision to include the inward supplies for which tax is required to be paid on reverse charge basis and which has not been auto populated|
|GSTR – 2||* Provision of amending inward supplies received in previous months|
|GSTR – 2||* Provision to include details of imported inward supplies of goods & services and amendment of inward supplies of goods & services received in previous months|
|GSTR – 2||* Provision to include debit note & credit note which are not auto populated and also amendment for such debit notes credit notes received pervious months|
|GSTR – 2||* Provision to include Supplies received from composition taxable person/unregistered person & other exempt/nil/non GST supplies – Inter State & Intra State|
|GSTR – 2||* Details of credit received on account of TDS, TCS and ISD and details of partial credit availed in previous month (capital goods)|
|GSTR – 2||* Provision to give the details of advances on which reverse charge is requird to be paid and amendment thereto for previous month
* Details of ITC reversal on account of mismatch and any other reason & amendment thereto in subsequent month
|GSTR – 2A||* Autopopulated Inward Supplies statement to recipient
* Details of inward supplies made available to the recipient on the basis of FORM GSTR-1 furnished by the supplier
|To be confirmed by the receipient||2|
|GSTR – 3||* Monthly Final Return on the basis of finalization of details of outward supplies & inward supplies along with the payment of amount of tax||* Provision to give total turnover seperately for Taxable Turnover, Export Turnover, Nil rated and Exempted Turnover, Non GST Turnover||20||3|
|GSTR – 3||* Most of the information of outward supplies and inward supplies are auto populated based on GSTR -1 & GSTR -2|
|GSTR – 3||* provision for Output tax added/reduced on account of non-rectification/rectification of communicated mismatches|
|GSTR – 3||* provision for Total tax liability for the month for goods & Services separately|
|GSTR – 3||* provision for ITC received during the month, mainly from electronic ITC ledger|
|GSTR – 3||* Auto populated Tax, interest, late fee and penalty paid from Electronic cash ledger and ITC ledger|
|GSTR – 3||* provision for Refunds claimed from cash ledger|
|GSTR – 3A||Notice to a registered taxable person who fails to furnish return under section 27 and section 31||9|
|GSTR – 4||* Quarterly Return for compounding Taxable persons||* Provision for Inward supplies including supplies received from unregistered persons other than auto populated and amendment thereto in the subsequent month||18th day of subsequent quarter||4|
|GSTR – 4||* Provision to include details of imported inward supplies of capital goods, input & services and amendment of inward supplies of capital goods, input & services received in previous months|
|GSTR – 4||* Provision for outward supplies made intra state & inter state and amendment thereto|
|GSTR – 4||* Details of credit received on account of TDS, TCS and ISD and details of partial credit availed in previous month (capital goods)|
|GSTR – 4||* Provision to include the inward supplies for which tax is required to be paid on reverse charge basis and which has not been auto populated|
|GSTR – 4||* Provision to give the details of advances on which reverse charge is requird to be paid and amendment thereto for previous month|
|GSTR – 4||* Documents reference to be generated for advance received and tax paid|
|GSTR – 4||* Provision for Liability payable, Tax payable and refund claim|
|GSTR-4A||Autopopulated Inward supplies of taxable person under composite scheme to be add / amended
* Details of inward supplies made available to the recipient registered under composition scheme on basis of FORM GSTR-1 furnished by the supplier
|To be confirmed by the receipient||4|
|GSTR – 5||Return for Non- Resident foreign taxable person||* Provision for goods & Services imported and amendment thereto||20th of the month succeeding tax period & within 7 days after expiry of registration||5|
|GSTR – 5||* Provision for outwards supplies and amendment thereto|
|GSTR – 5||* Details of debit note and credit note and amendment thereto|
|GSTR – 5||* Provision for Tax paid|
|GSTR – 5||* Provision for closing stock of goods|
|GSTR – 5||* Provision for refund claim from cash ledger|
|GSTR – 6||Input Service Distributor Return||* From Registered Taxable Persons (to be auto- populated from counter party GSTR-1 and GSTR-5) and provision for non- autopopulated and amendment thereto||13||6|
|GSTR – 6||* Details of debit note and credit note and amendment thereto||13||6|
|GSTR – 6||* Provisions for details of Input Service Distribution and amendment thereto||13||6|
|GSTR – 6||Provision for ISD Ledger giving details of Opening Balance
ITCs received, ITC Reversal, ITC Distributed, Distributed as IGST, Distributed as CGST, Distributed as SGST, Closing balance
|GSTR -6A||* Auto Populated from 6 inward
* Details of inward supplies made available to the ISD recipient on the basis of FORM GSTR-1 furnished by the supplier
|To be confirmed by the receipient||6|
|GSTR – 7||* TDS Return for authorities deducting tax at source||* Provision for details of TDS & amendment thereto
* Details of liability payable, paid & refund claim
|GSTR -7A||Auto Populated from 7 – TDS Certificate||7|
|GSTR – 8||* Details of supplies effected through e-commerce operator and the amount of tax collected as reqd. under sub-section (1) of section 43C||10||8|
|GSTR – 9||Annual Return for normal dealer||Details of expenditure giving for goods & services rceived quantity, value & HSN code! accounting code (inter-state & intra state, import) including other expenditure.||31st December||21|
|GSTR – 9||Details of income giving for goods & services rceived quantity, value & HSN code! accounting code (interstate & intra state, export, deemed export, purchase return) including other income|
|GSTR – 9||* Return reconciliation Statement giving details of IGST, CSGT, SGST, arrears, & refund|
|GSTR – 9||* Provision for Profit as Per the Profit & Loss Statement, Gross Profit, Profit after Tax, Net Profit and|
|GSTR – 9A||Annual Return for compounded dealer||* Gross Turnover details||31st December||21|
|GSTR – 9A||* Details of expenditure giving for goods & services rceived quantity, value & HSN code! accounting code (inter-state & intra state, import) including other expenditure.|
|GSTR – 9A||* Details of goods & services attracting reverse charge|
|GSTR – 9A||Details of income giving for goods & services received quantity, value & HSN code! accounting code (interstate & intra state, Exempted supplies ,Nill rate & non-GST supplies, export, deemed export, purchase return) including other income|
|GSTR – 9A||* Return reconciliation Statement giving details of IGST, CSGT, SGST, arrears, & refund with Annual return vis-à-vis profit and loss account and balance sheet giving details of reasons of reconciliation as illustration|
|GSTR – 9A||* Provision for Profit as Per the Profit and Loss Statement, Gross Profit, Profit after Tax, Net Profit &|
|GSTR – 9B||* Annual Return where Turnover is more than Rs. 1 Cr. for Audit
* Reconciliation Statement
|Details of expenditure giving for goods & services rceived quantity, value & HSN code! accounting code (inter-state & intra state, import) including other expenditure||31st December||21|
|GSTR – 9B||Details of income giving for goods & services rceived quantity, value & HSN code! accounting code (interstate & intra state, export, deemed export, purchase return) including other income|
|GSTR – 9B||* Return reconciliation Statement giving details of IGST, CSGT, SGST, arrears, & refund with Annual return vis-à-vis profit and loss account and balance sheet giving details of reasons of reconciliation as illustration|
|GSTR – 9B||* Provision for Profit as Per the Profit and Loss Statement, Gross Profit, Profit after Tax, Net Profit &|
|GSTR – 9B||* Return to be certified by Cost Accountant or Chartered Accountant along with audit report|
|GSTR – 10||Final Return||* Provision for date of surrender and details of cancellation order||within
|GSTR – 10||* Details of closing stock held on the date of cancellation|
|GSTR – 10||* Details of amount of tax payable on closing stock|
|GSTR – 11||Details of inward supplies to be furnished by a person having UIN||23|
|GSTITC-1||* Auto populated credit
*communication of acceptance, discrepancy or duplication of input tax credit claim
|Final ITC matched credit and duplicate entries, otherwise mismatch amount will be addedd in output tax liability||End of every month||11|
|GST PMT||– 3||Refund of interest on reclaim of reversal||18|
Rule 11: GST ITC – 1 Return
Due Date: End of Every month
” Auto populated credit
” Communication of acceptance, discrepancy or duplication of input tax credit claim
” Final ITC matched credit and duplicate entries, otherwise mismatch amount will be added in output tax liability
” Final ITC matched credit and duplicate entries, otherwise mismatch amount will be added in output tax liability
” Summary of ITC Claimed in current tax period, Matched ITC claim for current tax period, Mismatched ITC of earlier tax period matched in current tax period, ITC Mismatched – Current Period, Mismatched ITC of earlier tax period- Added as Output tax liability, Output Tax added due to Duplicate ITC Claim for CGST, SGST & IGST will be provided
” ITC mismatch report will be provided in 2 parts
a. Where Both supplier and recipient has filed valid relevant returns
b. Where Supplier has not filed valid return
” Additional invoices added by recipient will remain under mismatch category till these are accepted by pairing supplier.
” All invoices will remain under mismatch pertaining to those suppliers who have not filed the valid returns till date
” Difference between ITC claimed by receiver taxpayer and output tax paid by supplier taxpayer will be highlighted
” Report for duplicate claims also will be provided
” ITC Mismatch Report due to credit notes will be provided
” Details of month wise reversal, reclaim of reversed ITC & reduction in output tax, Summary of mismatches and list for tax authorities, Difference between output tax reduced by supplier taxpayer and ITC reduced by receiver taxpayer will be highlighted
” Report on credit notes issued by supplier but recipient is yet to reduce ITC giving summary of Output tax reduced by Supplier in current tax period, Corresponding ITC reduced by receiver in current tax period, Mismatched reduction in output tax of earlier tax period matched in current tax period , Reduction in output tax not matched by corresponding decrease in ITC, Mismatched reduction in output tax of earlier tax period – Added as Output Tax liability in current tax period
” Mismatch report- Outward supplies made through e-commerce operator (For Supplies to Registered Dealers & unregistered persons separately)
” Separate Mismatch Reports for E-commerce Operators
” Refund” includes
1. refund of tax on goods and / or services exported out of India or
2. refund of tax on inputs or input services used in the goods and / or services which are exported out of India, or
3. refund of tax on the supply of goods regarded as deemed exports, or
4. refund of unutilized input tax credit as provided under sub-section (2).
Sec 2(37):” deemed exports’, as notified by the Central Government/State Government on the recommendation of the Council, refer to those transactions in which the goods supplied do not leave India, and payment for such supplies is received either in Indian Rupees or in convertible foreign exchange;
|Rebate/Refund on account of||Relevant date|
|Export of Goods by sea or air||Let export date|
|Export of Goods by land||the date on which such goods pass the frontier|
|Export of Goods by Post||the date of dispatch of goods by Post Office|
|Export of Services||Date of Receipt of payment / date of issue invoice for receipt of advance|
|Deemed Export||Date of filing of return|
|Provisional Assessment||The date of adjustment of tax after the final assessment|
|Duty / Tax during Investigation / Adjudication||the date of communication of such judgment, decree, order or direction|
|Credit Accumulation due to Inverted Duty Structure||the end of the financial year|
|Unutilized tax credit due to exports of goods and / or services||the end of the financial year|
|FORM GST RFD-1||Application for refund of any tax, interest, penalty, fees|
|FORM GSTR-3, FORM GSTR-4 or FORM GSTR-7
(return for the relevant tax period)
|Refund relating to balance in the electronic cash ledger|
|FORM GST RFD-2||Acknowledgement w.r.t. filing of refund|
|FORM GST RFD-3||Communicating the deficiencies to the applicant|
|FORM GST RFD-4||Order sanctioning the amount of refund on provisional basis|
|FORM GST RFD-8||Payment advice for provisional refund payment|
|FORM GST RFD-5||Order sanctioning refund|
|FORM GST RFD-6||Order for adjustment of outstanding liability against refund|
|FORM GST RFD-7||Notice that amount claimed as refund is not admissible|
|FORM GST RFD-8||Payment advice for final payment|
|FORM GST RFD-9||Order for interest payment|
|FORM GST RFD-10||Application for refund on inward supplies|
|FORM GST RFD-11||Statement of inward supplies of goods and / or services by specified persons|
Refund Amount=(Export turnover of goods + Export turnover of services ) x Net ITC / Adjusted Total Turnover
a. the reference number of the order and a copy of the order passed by the proper officer or an appellate authority or any competent court resulting in such refund including refund of pre-deposit under chapter XVIII along with the reference number of the payment of the amount claimed as refund;
b. a statement containing the number and date of shipping bills or bills of export and the number and date of relevant export invoices, in a case where the refund is on account of export of goods;
c. a statement containing the number and date of invoices as prescribed in rule Invoice._in case of supply of goods made to an SEZ unit or a developer;
d. a statement containing the number and date of invoices, in a case where the refund is on account of deemed exports;
e. a statement containing the number and date of invoices and the relevant Bank Realization Certificates or Foreign Inward Remittance Certificates, as the case may be, in a case where the refund is on account of export of services;
f. a statement containing the number and date of invoices and the details of payment, along with proof thereof, made by the claimant to the supplier for authorized operations as defined under the SEZ Act, 2005, in a case where the refund is on account of supply of services made to an SEZ unit or a developer;
g. a statement in Annex 1 of FORM GST RFD-1 containing the number and date of invoices received and issued during a tax period in a case where the claim pertains to refund of any unutilized input tax credit under subsection (2) of section 38 where the credit has accumulated on account of rate of input tax being higher than the rate of output tax
h. the reference number of the final assessment order and a copy of the said order in a case where the refund arises on account of finalisation of provisional assessment;
i. a declaration to the effect that the incidence of tax and interest claimed as refund has not been passed on to any other person, in a case where the amount of refund claimed is less than five lakh rupees:
Provided that a declaration is not required to be furnished in respect of cases covered under clause (a), (b) or (d) of sub-section (6) of section 38;
j. a Certificate in Annex 2 of FORM GST RFD-1 issued by a Chartered Accountant or a Cost Accountant to the effect that the incidence of tax and interest claimed as refund has not been passed on to any other person, in a case where the amount of refund claimed is five lakh rupees or more
Time limit for sanction of claim:
1. registered taxable persons, refund eighty percent of the total amount so claimed to be sanctioned on provisional basis within a period of 7 days of issue of acknowledgement.
2. The remaining twenty percent may be refunded after due verification of documents furnished by the applicant.
3. Provisional refund will be allowed if (a) the person claiming refund has, during any period of five years immediately preceding the tax period to which the claim for refund relates, not been prosecuted for any offence under the Act or under an earlier law where the amount of tax evaded exceeds two hundred and fifty lakh rupees; (b) the GST compliance rating of the applicant is not less than five on a scale of ten; (c) no proceeding of any appeal, review or revision is pending on any of the issues which form the basis of the refund and if pending, the same has not been stayed by the appropriate authority or court.
1. The refund order to be issued within ninety days from the date of receipt of application.
2. No refund shall be paid to an applicant if the amount is less than rupees one thousand.
We would like to thank CMA Harshad Deshpande, who is also the Chief Editor of WIRC Bulletin, ICAI, for his effort to make the content on GST available to larger section of people and for dissemination of knowledge on the topic , which is of prime importance not only for the taxpayers but also for common man of the Country.
Article been published with permission from CMA Harshad Deshpande given on behalf of Western India Regional Council of India of The Institute of Cost Accountants of India.