Section 2(87) of CGST Act 2017 :"Prescribed" means prescribed by rules made under this Act on the recommendations of the Council.

Section 2(88) of CGST Act 2017 :"Principal" means a person on whose behalf an agent carries on the business
of supply or receipt of goods or services or both.

Section 2(89) of CGST Act 2017 :"Principal Place of Business" means the place of business specified as the
principal place of business in the certificate of registration.

Section 2(90) of CGST Act 2017 :"Principal Supply" means the supply of goods or services which constitutes the predominant element of a composite supply and to which any other supply forming part of that composite supply is ancillary.

Section 2(85) of CGST Act 2017 :"Place of Business" includes -
(a) a place from where the business is ordinarily carried on, and includes a warehouse, a godown or any other place where a taxable person stores his goods, supplies or receives goods or services or both; or
(b) a place where a taxable person maintains his books of account; or
(c) a place where a taxable person is engaged in business through an agent, by whatever name called.

Section 2(86) of CGST Act 2017 :"Place of Supply" means the place of supply as referred to in Chapter V of the Integrated Goods and Services Tax Act.
( As per section 11 of IGST Act 2017, Place of Supply means - 
a) imported into India, shall be location of importer.
b) exported from India, shall be location outside India.)

Section 2(83) of CGST Act 2017 :"Outward Supply" in relation to a taxable person, means supply of goods or
services or both, whether by sale, transfer, barter, exchange, licence, rental, lease or disposal or any other mode, made or agreed to be made by such person in the course or furtherance of business.

Section 2(84) of CGST Act 2017 :"Person" includes—
(a)  an individual;
(b)  a Hindu Undivided Family;
(c)  a company;
(d)  a firm;
(e)  a Limited Liability Partnership;
(f)  an association of persons or a body of individuals, whether incorporated or not, in India or outside India;
(g)  any corporation established by or under any Central Act, State Act or Provincial Act or a Government company as defined in clause (45) of section 2 of the Companies Act, 2013 (Government Company);
(h) any body corporate incorporated by or under the laws of a country outside India;
(i)  a co-operative society registered under any law relating to co-operative societies;
(j)  a local authority;
(k) Central Government or a State Government;
(l)  society as defined under the Societies Registration Act, 1860;
(m) trust; and
(n) every artificial juridical person, not falling within any of the above.

Section 2(79) of CGST Act 2017 :"Non Taxable Territory" means the territory which is outside the taxable territory.

Section 2(80) of CGST Act 2017 :"Notification" means a notification published in the Official Gazette and the
expressions “notify” and “notified” shall be construed accordingly.

Section 2(81) of CGST Act 2017 :"Other Territory" includes territories other than those comprising in a State and those referred to in sub-clauses (a) to (e) of clause (114).

Section 2(82) of CGST Act 2017 :"Output Tax" in relation to a taxable person, means the tax chargeable under this Act on taxable supply of goods or services or both made by him or by his agent but excludes tax payable by him on reverse charge basis.

Section 2(77) of CGST Act 2017 :"Non Resident Taxable Person" means any person who occasionally
undertakes transactions involving supply of goods or services or both, whether as principal or agent or in any other capacity, but who has no fixed place of business or residence in India.


Section 2(78) of CGST Act 2017 :"Non Taxable Supply" means a supply of goods or services or both which is not leviable to tax under this Act or under the Integrated Goods and Services Tax Act.

Section 2(76) of CGST Act 2017 :"Motor Vehicle" shall have the same meaning as assigned to it in clause (28)
of section 2 of the Motor Vehicles Act, 1988.

Definition of Motor Vehicle as per Section 2(28) of Motor Vehicles Act, 1988 - means  any  mechanically propelled vehicle adapted for use upon roads whether the power of 1    Subs. & ins. by Act. propulsion is  transmitted thereto from an external or internal source and includes  a chassis  to which  a body  has not been attached and a trailer; but  does not include a vehicle running upon fixed rails or a vehicle of  a special type adapted for use only in a factory or in any other enclosed  premises or  a vehicle  having less  than four  wheels fitted  with  engine  capacity  of  not  exceeding  thirty-five  cubic centimeters.

Section 2(75) of CGST Act 2017 :"Money" means the Indian legal tender or any foreign currency, cheque, promissory note, bill of exchange, letter of credit, draft, pay order, traveller cheque, money order, postal or electronic remittance or any other instrument recognised by the Reserve Bank of India when used as a consideration to settle an obligation or exchange with Indian legal tender of another denomination but shall not include any currency that is held for its numismatic value.

Numismatic  is the study or collection of currency, including coins, tokens, paper money, and related objects. While numismatists are often characterized as students or collectors of coins, the discipline also includes the broader study of money and other payment media used to resolve debts and the exchange of goods.

Section 2(74) of CGST Act 2017 :"Mixed Supply" means two or more individual supplies of goods or services, or any combination thereof, made in conjunction with each other by a taxable person for a single price where such supply does not constitute a composite supply. 

Illustration— A supply of a package consisting of canned foods, sweets, chocolates, cakes, dry fruits, aerated drinks and fruit juices when supplied for a single price is a mixed supply. Each of these items can be supplied separately and is not dependent on any other. It shall not be a mixed supply if these items are supplied separately.

Section 2(72) of CGST Act 2017 :"Manufacture" means processing of raw material or inputs in any manner that results in emergence of a new product having a distinct name, character and use and the term “manufacturer” shall be construed accordingly.


Section 2(73) of CGST Act 2017 :"Market Value" shall mean the full amount which a recipient of a supply is
required to pay in order to obtain the goods or services or both of like kind and quality at or about the same time and at the same commercial level where the recipient and the
supplier are not related.

Section 2(71) of CGST Act 2017 :"Location of the supplier of services " means,—
(a) where a supply is made from a place of business for which the registration has been obtained, the location of such place of business;

(b) where a supply is made from a place other than the place of business for which registration has been obtained (a fixed establishment elsewhere), the location of such fixed establishment;

(c) where a supply is made from more than one establishment, whether the place of business or fixed establishment, the location of the establishment most directly concerned with the provisions of the supply; and

(d) in absence of such places, the location of the usual place of residence of the supplier.

Section 2(70) of CGST Act 2017 :"Location of the recipient of services "means,—
(a) where a supply is received at a place of business for which the registration has been obtained, the location of such place of business;

(b) where a supply is received at a place other than the place of business for which registration has been obtained (a fixed establishment elsewhere), the location of such fixed establishment;

(c) where a supply is received at more than one establishment, whether the place of business or fixed establishment, the location of the establishment most directly concerned with the receipt of the supply; and

(d) in absence of such places, the location of the usual place of residence of the recipient.

Section 2(68) of CGST Act 2017 :"Job Work" means any treatment or process undertaken by a person on goods belonging to another registered person and the expression “job worker” shall be construed accordingly.

Section 2(69) of CGST Act 2017 :"Local Authority" means–

(a) a “Panchayat” as defined in clause (d) of article 243 of the Constitution;
(b) a “Municipality” as defined in clause (e) of article 243P of the Constitution;
(c) a Municipal Committee, a Zilla Parishad, a District Board, and any other authority legally entitled to, or entrusted by the Central Government or any State Government with the control or management of a municipal or local fund;
(d) a Cantonment Board as defined in section 3 of the Cantonments Act, 2006;
(e) a Regional Council or a District Council constituted under the Sixth Schedule to the Constitution;
(f) a Development Board constituted under article 371 of the Constitution;
or
(g) a Regional Council constituted under article 371A of the Constitution;

Renting of immovable property-GST Regime 

Under GST Regime, 'renting of immovable property' is included in schedule II which defines it as the supply of services on which the GST rate is 18%. However Entry no. 12 of exemption Notification no. 12/2017 dated 28.06.2017 exempts the services by way of renting of residential dwelling for use as a residence, meaning thereby that if the residential dwelling is leased out for commercial purposes then no exemption will apply and the rental from such residential property being leased out for commercial activity shall be taxable to GST.

Supply is Interstate or Intrastate, a tricky proposition

Service tax was a Central Tax there was no State Tax on services. But in GST regime we need to bifurcate the supply of services into interstate supply and intrastate supply has arisen such that the portion of state tax can go to the State of consumption of services.
For this purpose 'Place of Supply of Services' [refer to section 12 of IGST Act] and second is the location of supplier of services' [refer to section 2(15) of IGST Act].

If these two coordinates fall in two different States then it is an interstate supply and if both of these two coordinates fall in the same state then it is an intra-state (local) supply.
Now going by the above yardstick let us see what will happen to a case of rental from immovable property. Let us take an example of a landowner who is located in Delhi and owns an immovable commercial property in Mumbai which he has rented out there at. The question is whether the land owner will have to take GST registration in the State of Maharashtra which is undisputedly the place of supply or instead whether the land owner can take GST registration in Delhi which is his usual place of residence and treat it as interstate supply and accordingly charge IGST. For that let us examine the above two co-ordinates.

a. Place of Supply

As per section 12(3) of IGST Act the place of supply of service in relation to an immovable property shall be the location at which the immovable property is located. Therefore, in this case, the place of supply is undisputedly Mumbai because the property is located thereat.

b. Location of supplier

For this the reference is directed to section 2(15) of IGST Act. Section 2(15) contains four clauses (a),(b),(c),(d) to determine the location of the supplier of service.

Clause (a) says that location of a supplier means a place of business where from the supply is made. To fulfill this test we have to see whether the land owner is having any place of business in Mumbai just by having an immovable property thereat.

For the meaning of 'place of business' reference is directed to section 2(85) of CGST Act 2017 which defines a 'place of business' where from a business is ordinarily carried on and/or where a warehouse or go down or any other place for storage of goods is located and/or books of accounts are maintained and/or the business through agent is carried on.

Just having an immovable property doesn't qualify this test as per section 2(85) of CGST Act 2017, so in our example there is no 'place of business' of the landlord in Mumbai.

Now let us examine clause (b) whether the land lord is having fixed establishment in Mumbai and for that reference is directed to section 2(50) of CGST Act 2017, wherein a fixed establishment is a place which is characterized by a sufficient degree of permanence and suitable structure in terms of human and technical resources. This test of having human and technical resources is also not qualified by just having immovable property at Mumbai. So Clause (b) has no application in our case.

Now let us examine Clause (c) of Sec 2(15) of IGST Act 2017. It pertains to a supply of service from more than one establishment and thus has no application in our case.

Therefore our case finally falls in the residual clause (d) which says that in the absence of clause (a),(b),(c) being applicable, the location of usual place of residence shall be the location of the supplier of services within the meaning of clause (d) of sec 2(15) of IGST Act 2017.

Conclusion

Therefore in our example the location of the landlord will be Delhi while the place of supply will be Mumbai and hence as per section 7 of IGST Act this will be an interstate supply subject to IGST and there is no need for the landlord to take GST registration in the Mumbai (State of Maharashtra).

Section 2(63) of CGST Act 2017 :"Input Tax Credit"  means the credit of input tax.

Section 2(64) of CGST Act 2017 :"Intra-State Supply of Goods " shall have the same meaning as assigned to it in section 8 of the Integrated Goods and Services Tax Act.

Section 2(65) of CGST Act 2017 :"Intra-State Supply of Services " shall have the same meaning as assigned to it in section 8 of the Integrated Goods and Services Tax Act.

Section 2(66) of CGST Act 2017 :"Invoice or Tax Invoice" means the tax invoice referred to in section 31.

Section 2(67) of CGST Act 2017 :"Inward Supply" in relation to a person, shall mean receipt of goods or services or both whether by purchase, acquisition or any other means with or without consideration.

Section 8 of IGST Act 2017 (For Reference)
(1) Subject to the provisions of section 10, supply of goods where the location of the supplier and the place of supply of goods are in the same State or same Union territory shall be treated as intra-State supply:
Provided that the following supply of goods shall not be treated as intra-State supply, namely:–– 
(i) supply of goods to or by a Special Economic Zone developer or a Special Economic Zone unit; 
(ii) goods imported into the territory of India till they cross the customs frontiers of India; or 
(iii) supplies made to a tourist referred to in section 15. 

(2) Subject to the provisions of section 12, supply of services where the location of the supplier and the place of supply of services are in the same State or same Union territory shall be treated as intra-State supply: 
Provided that the intra-State supply of services shall not include supply of services to or by a Special Economic Zone developer or a Special Economic Zone unit. 
Explanation 1 For the purposes of this Act, where a person has,–– 
(i) an establishment in India and any other establishment outside India; 
(ii) an establishment in a State or Union territory and any other establishment outside that State or Union territory; or 
(iii) an establishment in a State or Union territory and any other establishment being a business vertical registered within that State or Union territory, then such establishments shall be treated as establishments of distinct persons. 
Explanation 2 A person carrying on a business through a branch or an agency or a representational office in any territory shall be treated as having an establishment in that territory.

GOODS TRANSPORT AGENCY (GTA)

As per notification no 11 and 13 issued on 28.06.17 GTA services are under reverse charge and rate of tax is 5%.
In these notifications GTA is also defined through explanation. GTA means a person who is providing only transportation services nothing else. It means a person who is providing other services like packer and movers, ware housing facility like om logistics will not come in GTA definition. Therefore on such service provider no reverse charge will be applicable and rate of GST tax will be 18 % as per above-mentioned notifications.

Maintenance of accounts and records by a registered person as per newly notified CGST Rules, 2017

According to rule 56 of the Central Goods and Services Tax (Second Amendment) Rules, 2017, as per Notification No. 10/2017- Central Tax, dated 28.06.2017, the following accounts and records have to be maintained by a registered person:

(1) Every registered person shall keep and maintain, in addition to the particulars mentioned in sub-section (1) of section 35, a true and correct account of the goods or services imported or exported or of supplies attracting payment of tax on reverse charge along with the relevant documents, including invoices, bills of supply, delivery challans, credit notes, debit notes, receipt vouchers, payment vouchers and refund vouchers.

(2) Every registered person, other than a person paying tax under section 10, shall maintain the accounts of stock in respect of goods received and supplied by him, and such accounts shall contain particulars of the opening balance, receipt, supply, goods lost, stolen, destroyed, written off or disposed of by way of gift or free sample and the balance of stock including raw materials, finished goods, scrap and wastage thereof.

(3) Every registered person shall keep and maintain a separate account of advances received, paid and adjustments made thereto.

(4) Every registered person, other than a person paying tax under section 10, shall keep and maintain an account, containing the details of tax payable (including tax payable in accordance with the provisions of sub-section (3) and sub-section (4) of section 9), tax collected and paid, input tax, input tax credit claimed, together with a register of tax invoice, credit notes, debit notes, delivery challan issued or received during any tax period.

(5) Every registered person shall keep the particulars of –

(a) names and complete addresses of suppliers from whom he has received the goods or services chargeable to tax under the Act;

(b) names and complete addresses of the persons to whom he has supplied goods or services, where required under the provisions of Chapter VII;

(c) the complete address of the premises where goods are stored by him, including goods stored during transit along with the particulars of the stock stored therein.

(6) If any taxable goods are found to be stored at any place(s) other than those declared under sub-rule (5) without the cover of any valid documents, the proper officer shall determine the amount of tax payable on such goods as if such goods have been supplied by the registered person.

(7) Every registered person shall keep the books of account at the principal place of business and books of account relating to additional place of business mentioned in his certificate of registration and such books of account shall include any electronic form of data stored on any electronic device.

(8) Any entry in registers, accounts and documents shall not be erased, effaced or overwritten, and all incorrect entries, otherwise than those of clerical nature, shall be scored out under attestation and thereafter, the correct entry shall be recorded and where the registers and other documents are maintained electronically, a log of every entry edited or deleted shall be maintained.

(9) Each volume of books of account maintained manually by the registered person shall be serially numbered.

(10) Unless proved otherwise, if any documents, registers, or any books of account belonging to a registered person are found at any premises other than those mentioned in the certificate of registration, they shall be presumed to be maintained by the said registered person.

(11) Every agent referred to in clause (5) of section 2 shall maintain accounts depicting the,-

(a) particulars of authorisation received by him from each principal to receive or supply goods or services on behalf of such principal separately;

(b) particulars including description, value and quantity (wherever applicable) of goods or services received on behalf of every principal;

(c) particulars including description, value and quantity (wherever applicable) of goods or services supplied on behalf of every principal;
(d) details of accounts furnished to every principal; and

(e) tax paid on receipts or on supply of goods or services effected on behalf of every principal.

(12) Every registered person manufacturing goods shall maintain monthly production accounts showing quantitative details of raw materials or services used in the manufacture and quantitative details of the goods so manufactured including the waste and by products thereof.

(13) Every registered person supplying services shall maintain the accounts showing quantitative details of goods used in the provision of services, details of input services utilised and the services supplied.

(14) Every registered person executing works contract shall keep separate accounts for works contract showing –

(a) the names and addresses of the persons on whose behalf the works contract is executed;

(b) description, value and quantity (wherever applicable) of goods or services received for the execution of works contract;

GIFT UNDER GST

1. Gifts up to a value of Rs 50,000/- per year by an employer to his employee are outside the ambit of GST. However, gifts of value more than Rs 50,000/- made without consideration are subject to GST, when made in the course or furtherance of business.

2. The question arises as to what constitutes a gift. Gift has not been defined in the GST law. In common parlance, gift is made without consideration, is voluntary in nature and is made occasionally. It cannot be demanded as a matter of right by the employee and the employee cannot move a court of law for obtaining a gift.

3. Another issue is the taxation of perquisites. It is pertinent to point out here that the services by an employee to the employer in the course of or in relation to his employment is outside the scope of GST (neither supply of goods or supply of services). It follows therefrom that supply by the employer to the employee in terms of contractual agreement entered into between the employer and the employee, will not be subjected to GST. Further, the Input Tax Credit (ITC) Scheme under GST does not allow ITC of membership of a club, health and fitness centre [section 17 (5) (b) (ii)]. It follows, therefore, that if such services are provided free of charge to all the employees by the employer then the same will not be subjected to GST, provided appropriate GST was paid when procured by the employer. The same would hold true for free housing to the employees, when the same is provided in terms of the contract between the employer and employee and is part and parcel of the cost-to-company (C2C).

Section 2(61) of CGST Act 2017 :"Input Service Distributor" means an office of the supplier of goods or
services or both which receives tax invoices issued under section 31 towards the receipt of input services and issues a prescribed document for the purposes of distributing the credit of central tax, State tax, integrated tax or Union territory tax paid on the said services to a supplier of taxable goods or services or both having the same Permanent Account Number as that of the said office.

Section 2(62) of CGST Act 2017 :"Input Tax" in relation to a registered person, means the central tax, State tax, integrated tax or Union territory tax charged on any supply of goods or services or both made to him and includes-
(a) the integrated goods and services tax charged on import of goods;
(b) the tax payable under the provisions of sub-sections (3) and (4) of section 9 (Tax Payable on Reverse Charge basis);
(c) the tax payable under the provisions of sub-sections (3) and (4) of section 5 of the Integrated Goods and Services Tax Act (Tax Payable on Reverse Charge basis);
(d) the tax payable under the provisions of sub-sections (3) and (4) of section 9 of the respective State Goods and Services Tax Act; or
(e) the tax payable under the provisions of sub-sections (3) and (4) of section 7 of the Union Territory Goods and Services Tax Act, but does not include the tax paid under the composition levy. 

Major Impact under GST

⛳ON SALES
1. Tax is levied by centre and states concurrently on destination based consumption principal. Thus, final tax accrues in the hands of state where goods/services are consumed.
22. 🌴2. Tax will be levied on supply to agents, Interstate Branch transfer and transfer to different vertical within same state but having different registration.
3. 3. 🌴3. Place of supply is to be checked to identify Whether CGST and SGST or IGST is to be charged, considering place of supply provisions.
🌴4. Tax liability will arise on advance receipts/ payment.
5🌴5. Tax will be payable under Reverse charge on all purchases made from unregistered dealers and on other goods as notified.
🌴6. Interest, late fee and penalty charged for delayed payment of consideration is to be included in valuation for the purpose of calculation of tax.
7. Anti-profiteering measure is introduced to ensure that credit is passed on to the final consumer.

⛳ ON PURCHASES1. Credit is available; be it used for manufacture or not, like office equipment, stationery etc. subject to the condition that it is used in the furtherance of business.
2. Credit of GST paid on any purchase for use in furtherance of Business (including interstate) is available.
3. In GST the Invoice should be received before 30th September after the end of FY to avail the credit.
4. Tax is payable on Advance payment for purchase of goods or services.
5. Complete matching is required. If tax is not paid by the seller then the tax credit will not be available to the buyer.
6. It will be very necessary for the buyer to check beforehand about vendor being tax compliant.
7. Government has come up with GST rating mechanism where it will be easy to find out the status of supplier.

ON ACCOUNTING AND COMPLIANCES
1. Most of the compliances are online on GST portal.
2. One GST laws to be complied.
3. Time Period of maintaining and keeping accounts is 6 years from the date of Annual Return.

4. GST Audit is required to be conducted by a Chartered Accountant or Cost Accountant for each registration having turnover exceeds turnover limit of Rs. 2 Crore.
5. No statutory forms or statutory registers are required to be maintained. Books can also be maintained in electronic form.
6. Invoice is to be raised in all cases at the time of removal of goods except in certain specified circumstances.

 Composition Scheme Under GST

⛳ A registered person, whose aggregate turnover in the preceding FY doesn’t exceed Rs. 75 Lakhs may opt for Composition Scheme and pay tax.
⛳ It would be applicable for all transactions under the same PAN-India bases.
⛳ Composition taxable person shall not be eligible for any Input tax credit.
⛳ CTP shall not collect any tax on supply.
⛳ CTP will issue Bill of Supply instead of Tax Invoice.
⛳ CTP is liable to pay tax on receipts of goods or services from un-registered person.
⛳ CTP is liable to pay tax on receipts of services under RCM.
⛳ No ITC allowed for taxed paid under reverse charge.

⛳ Persons not eligible:
🌴 Effecting inter-state outward supplies.
🌴 Making supply of exempted goods.
🌴 Engaged in supply of any other service except food/restaurant services.
🌴 Making any supply of goods through an e-commerce operator.
🌴 Manufacturer of notified goods.

⛳ The Registered person paying tax under composition scheme is required to pay tax on quarterly basis and also required to file a quarterly return in Form GSTR-4 by the 18th of the month following the end of the quarter.

⛳ The option availed by a registered person shall lapse with effect from the day on which his aggregate turnover during a financial year exceeds fifty lakh rupees.

⛳ Person Registered Before GST Regime (Opt for Composition)
🌴 Having Prov. ID shall file an intimation in FORM GST CMP-01 within 30 days from AD.
🌴 Required to file detail of stock from all suppliers (including unregistered) AND Input credit in Return as on 30 June 2017 in FORM TRAN-1.
🌴 Further, detail of stock from all suppliers (including unregistered) AND Inward supply as on 30 June 2017 in FORM GST CMP-03 within 60 days of opting for composition.

⛳ Person Registered Under GST Regime (Opt for Composition)
🌴 Any Person who are not registered under the existing law and applies for registration under GST regime with an option to pay under composition in Form GST REG-01.
🌴 Further, registered taxable person files an intimation to pay tax under composition in FORM GST CMP-02 prior to commencement of FY.
🌴 Further, furnish the statement in Form GST ITC-03 within 60 days (Regular to Composition) of commencement of FY.

⛳ Condition & restriction to Opt for Composition
🌴 Cannot be a Casual Taxable Person or a Non-resident taxable person.
🌴 Goods in stock on transition date must not have been purchased in the course of inter-State trade or commerce or imported from a place outside India or received from his branch situated outside the State or from his agent or principal outside the State.
🌴 If goods held in stock on AD purchased from an unregistered supplier or any notified goods or services or both, then pay tax under RCM.
🌴 Not engage in the manufacture of notified goods during the preceding FY.
🌴 On every notice or signboard mandatory to mention the words “Composition Taxable Person”.
🌴 On top of Bill of Supply mandatory to mention the words “Composition Taxable Person, not eligible to collect tax on supplies”.

⛳ Validity of composition levy (Opt Out from Composition)
🌴 If CTP ceases to satisfy any condition or suo-motu, require to furnish FORM GST CMP-04 within 7 days of occurrence of such event then, shall liable to issue Tax Invoice.
🌴 Proper officer may issue SCN in FORM GST CMP-05 & the recipient gives his reply in FORM GST CMP-06 within 15 days, thereafter the proper officer issue an order in FORM GST CMP-07 within 30 days.
🌴 Further, furnish the statement in FORM GST ITC-01 for the ITC CLAIM within 30 days.

⛳ Rate of Tax
S. No. Category of Registered Person Rate of tax
CGST+SGST
1. Manufacturers or other than manufacturers notified by the govt. (ice-cream, tobacco, pan masala) 1%+1%= 2%
2. Suppliers of food & any human consumption article or drink except alcohol. 2.5%+2.5%= 5%
3. Any other Supplier eligible to opt CS 0.5%+0.5%= 1%

Section 2(57) of CGST Act 2017 :"Integrated Goods and Services Tax Act" means the Integrated Goods and Services Act 2017.

Section 2(58) of CGST Act 2017 :"Integrated Tax" means the integrated goods and services tax levied under the Integrated Goods and Services Tax Act.

Section 2(59) of CGST Act 2017 :"Input" means any goods other than capital goods used or intended to be used by a supplier in the course or furtherance of business.

Section 2(60) of CGST Act 2017 :"Input Service" means any service used or intended to be used by a supplier in the course or furtherance of business.

CGST Rate Notified under sec 9(1) Notification Dated 28 June 2017 [http://gstcouncil.gov.in/sites/default/files/gst%20rates/Notification-for-CGST-rate-Schedule.pdf]


CGST Exempted Goods Notification Dated 28 June 2017 [http://gstcouncil.gov.in/sites/default/files/gst%20rates/Notification-for-CGST-exemption.pdf]

FAQ's FOR TRADERS