GOODS AND SERVICES TAX ACT

Launched on 01-07-2017
CBIC – Central Board of Indirect Taxes and Customs

Acts governing GST in INDIA

Integrated Goods and Services Tax Act, 2017 – ( IGST )

Central Goods and Services Tax Act, 2017 – ( CGST )
State Goods and Services Tax Act, 2017 – ( SGST )
Union Territory Goods and Services Tax Act, 2017 – ( UTGST)
GST (Compensation to States) Act 2017

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TAXES SUBSUMED BY GST
CENTRAL TAXES STATE TAXES

• Central Excise Duty • Value Added Tax

(CENVAT) • Entertainment Tax
• Additional Excise Duty • Sales Tax
• Additional Customs Duty – • Octroi
CVD
• Entry Tax
• Surcharges & Cesses levied by
Centre • Surcharges & Cesses levied by
State.
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Types of GST

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 Applicability for Registration
Sec 22 : Persons Liable for Sec 24 : Person who is
Registration Compulsory required
Registration under GST

• Casual Taxable Person

• Non Resident Taxable Person
• TDS Deductor
• Input Service Distributor
• Supplies made through E Commerce
Operator Eg Amazon
• OIDAR Etc

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GSTIN : GST Identification Number

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 • Monthly – By 11th of
• Reporting details of All outwards Succeeding Month
Supplies
• Quarterly – 13th of
GSTR1 • Eg Sales, Debit Notes Month Following Qtr

• Input Tax Credit Available for the • Auto Generated after

Period 13th Of Every Month
GSTR
2B • Eg Purchases, Credit Notes

• Summary of Outward and Inward • Monthly – 20th

Supplies Succeeding Month
GSTR • Tax Liability, Credit Claimed & Taxes • Quarterly – 22nd of the
3B Paid Month Following Qtr

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Non Filing or Late Filing of Returns

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 Composition Scheme
Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover. This
scheme can be opted by any taxpayer whose turnover is less than Rs. 1.5 crore.

• No Input Tax Credit can be claimed by a dealer opting for composition scheme
• The taxpayer has to mention the words ‘composition taxable person’ on every bill of
supply issued by him. He Cannot issue “Tax Invoice”
• GST Payment has to be made out of pocket for the supplies made.
• Cannot make Interstate Supplies of Goods or Services.
• A composite dealer has to file a quarterly return CMP-08 by 18th of the month following
the quarter. In addition to this, the dealer has to file an annual return GSTR-4 by 30th
April of the next year.

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Eligibility for Claiming ITC
• Possession of a tax invoice or debit note or document evidencing
payment.
• Receipt of goods and/or services.
• The supplier should have filed returns and paid such tax thereon
to the government.
• Where goods are received in parts or in installments, ITC maybe
claimed on receipt of last lot or installment.
• Additionally, to be eligible for claiming Input Tax Credits,
ensure that your purchases are intended for use, either wholly
or partially, in your business operations

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 E Way Bill
For Invoice Amount more than Rs.50,000/-

Documents to be Carried by Person In Charges

*Invoice or Bill of Supply
*A Copy of E way Bill

Validity of E Way Bill

Distance Time Period

Less Than 100 Kms 1 Day
For Every 100 Kms or Part 1 Additional Day
Thereof

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 What is E-Invoicing under GST?
E-invoicing under GST involves the generation of invoices (B2B) in a
standardized electronic format, which is then reported to the government's
GST portal in real-time. This process aims to enhance transparency, reduce
errors, and prevent tax evasion.

Applicable to every tax payer having aggregate turnover of more than Rs.
5Cr in any preceeding financial year( w.e.f 01-08-2023)

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Notes
• Under the electronic invoicing system, an identification number will be issued against every
invoice by the Invoice Registration Portal (IRP).
• All invoice information gets transferred from this portal to both the GST portal and the e-way bill
portal in real-time. Therefore, it eliminates the need for manual data entry while filing GSTR-1
returns and generation of part-A of the e-way bills, as the information is passed directly by the
IRP to the GST portal.
• E Invoice Cannot be generated Backdated.
• The invoice issued to the customer must contain the IRN number and the QR Code. Along with
this, you may send the standard invoice too.
• An e-invoice cannot be partially cancelled, it has to be cancelled fully. Once cancelled, it will need
to be reported on the IRN within 24 hours. Cancellation done after 24 hours cannot be done on
the IRN and needs to be manually cancelled on the GST portal in the GSTR-1 return, before the
same is filed.
• Once an IRN is cancelled, the same invoice number cannot be used again to generate another
invoice. If used again, the IRP will reject the same.

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