Ashu Dalmia FCA, DISA, CISA, ICAI Certified-FAFD,ICAI-Certified Arbitrator, Special - PowerPoint Presentation

1. Ashu Dalmia FCA, DISA, CISA, ICAI Certified-FAFD,ICAI-Certified Arbitrator, Special Auditor u/s 72A of the finance Act 1994 (office of the Commissioner, Service, Tax Audit-II Delhi)PartnerAshu Dalmia & AssociatesDISCUSSION ON PRACTICAL ISSUES RELATED TO REGISTARTION AND MIGRATION UNDER GST BY NIRC OF ICSIREGISTRATION PROVISIONS UNDER GSTDATE-01 MAR 2017Mob:- +91-9810893243Email: ashu.dalmia@ada.org.inWeb:- www.gstindia.biz www.ada.org.in

2. PROVISIONS OF REGISTRATION UNDER GST-CHAPTER VI OF MGL2www.ada.org.in/gstindia.biz

3. 3www.ada.org.in/gstindia.biz

4. 4MANDATORTY REGISTRATION –SCHEDULE V of MGLWAYS OF REGISTRATIONVOLUNTARY REGISTRATIONCASUAL /NON RESIDENT TAXABLE PERSONwww.ada.org.in/gstindia.biz

5. 5Mandatory Registrationwww.ada.org.in/gstindia.biz

6. 6Registration will be effective from the date of grant of registration.Credit available only after date of Registration.Loss of credit of inputs before the date of becoming taxable person.Taxable invoices can not be issued for the intermediate period.IMPACT IF REGISTRATION NOT APPLIED WITH IN 30 DAYSwww.ada.org.in/gstindia.biz

7. 7Where to take registration (Fresh registration) -In every state -From where -The supplier -Is making the taxable supply -and aggregate turnover exceeds Rs.20 Lacs for normal states -Rs.10 lacs in special category states and - states covered in Article 279A (4) (g) States are Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttarakhand. Schedule V –Mandatory to take registrationwww.ada.org.in/gstindia.biz

8. 8Optional -In case of multiple business verticals in a stateWhat is business vertical:As per Section 2(18) of CGST/SGST Act 2016, “Business vertical” means a distinguishable component of an enterprise that is engaged in supplying an individual product or service or a group of related products or services and that is subject to risks and returns that are different from those of other business verticals;Explanation: Factors that should be considered in determining whether products or services are related include:the nature of the products or services;the nature of the production processes;the type or class of customers for the products or services;the methods used to distribute the products or provide the services; andif applicable, the nature of the regulatory environment, for example, banking, insurance, or public utilities.Can multiple registration be taken in a state?www.ada.org.in/gstindia.biz

9. 9Aggregate turnover includes: -taxable supply -exempt supplies -export of Goods and/or services -inter state supplies of a person having same PAN to be computed on all India basis -excludes taxes paid under GST and -Supplies on which tax has been paid under reverse charge.Exempt Supply Includes:not taxable under this ActSupply of nil ratedExempted u/s 11 of the MGLwww.ada.org.in/gstindia.biz

10. 10Supplies made by a person on behalf of his principals will also be considered for threshold limit of agent.Supply of goods by a registered job worker shall be included in turnover of principal.Threshold limit will also include:www.ada.org.in/gstindia.biz

11. 11Mandatory registration without any threshold limitwww.ada.org.in/gstindia.biz

12. 12categories of services the tax on which shall be paid by the electronic commerce operator if such services are supplied through it, and all the provisions of this Act shall apply to such electronic commerce operator as if he is the person liable for paying the tax in relation to the supply of such services.PROVIDED that where an electronic commerce operator does not have a physical presence in the taxable territory, any person representing such electronic commerce operator for any purpose in the taxable territory shall be liable to pay tax.PROVIDED FURTHER that where an electronic commerce operator does not have a physical presence in the taxable territory and also he does not have a representative in the said territory, such electronic commerce operator shall appoint a person in the taxable territory for the purpose of paying tax and such person shall be liable to pay taxTax liability u/s 8(4) of MGLwww.ada.org.in/gstindia.biz

13. 13occasionally undertakes transactionsinvolving supply of goods and/or servicesin the course or furtherance of business whether as principal, agent or in any other capacity,in a taxable territory where he has no fixed place of business.Casual Taxable PersonNon Resident Taxable Personoccasionally undertakes transactionsinvolving supply of goods and/or serviceswhether as principal, agent or in any other capacity,has no fixed place of business in India.www.ada.org.in/gstindia.biz

14. 14Registration before 5 days of starting activitiesInitial registration for maximum 90 days which is further extendable to 90 daysAdvance deposit of tax which will be credited in cash ledgerRegistration of Casual and No resident Taxable Personwww.ada.org.in/gstindia.biz

15. 15Section 18(2) A person who take registration u/s 23(3) will be eligible for input tax in respect of inputs held in respect of StockSemi finished stockFinished stockOn the day immediately preceding the date of grant of registration.Section 18 (1) A person who has applied for registration under the Act within thirty days from the date on which he becomes liable to registration and has been granted such registration shall, subject to such conditions and restrictions as may be prescribed, be entitled to take credit ofinput tax in respect of inputs held in stockinputs contained in semi finished Goodsinputs contained in finished goods held in stock on the day immediately preceding the date from which he becomes liable to pay tax under the provisions of this Act.WHY Voluntary Registrationwww.ada.org.in/gstindia.biz

16. 16WHICH FORM TO BE USEDwww.ada.org.in/gstindia.biz

17. 17FLOW OF REGISTRATIONApplication in FORM GSTREG-01ACKNOWLEDGEMENT in FORM GSTREG-02Information in FORM GSTREG-03Within 3 daysReply in FORM GSTREG-04Within 7 daysReject in FORM GSTREG-05Or Registration in FORM GST REG-06www.ada.org.in/gstindia.biz

18. 18OnlineApplication to the proper OfficerAmendment to Registrationwww.ada.org.in/gstindia.biz

19. 19By own motionWhere the taxpayer has contravened such provisions of the Act as may be prescribed.Person paying tax u/s 8 has not file returns for three consecutive tax periods.Person other than above has not filed the returns for consecutive six months.Any person who has taken voluntary registration has not commenced business within six months from the date of registration.Cancellation of Registrationwww.ada.org.in/gstindia.biz

20. 20On an application filed by registered taxable person i. Where the business has been discontinued ii. Transferred iii. There is a change in constitution of business iv. The person liable to be registered in schedule III is no longer liable to be registered.On an application filed by legal heirs in case of death of such personCancellation of Registrationwww.ada.org.in/gstindia.biz

21. 21List of Forms related to registrationS.No.Form NumberDescription1REG-01Application for Registration u/s 19(1) GST Act, 20162REG-02Acknowledgement3REG-03Notice for Seeking Additional Information relating to Registration / Amendments / Cancellation4REG-04Application for filing clarification Registration / Amendment / Cancellation / Revocation of Cancellation5REG-05Order of Rejection of Application for Registration / Amendment / Cancellation / Revocation of Cancellation6REG-06Registration Certificate issued u/s 19(8A) of the GST Act, 207REG-07Application for Registration as TDS or TCS u/s 19(1) of the GST Act, 208REG-08Order of Cancellation of Application for Registration as TDS /TCS u/s 21 of the GST Actwww.ada.org.in/gstindia.biz

22. 22List of Forms related to registrationS.No.Form NumberDescription9REG-09Application for Allotment of Unique ID to UN Bodies/ Embassies /any other person u/s 19(6) of the GST Act10REG-10Application for Registration for Non Resident Taxable Person.11REG-11Application for Amendment in Particulars subsequent to Registration12REG-12Order of Amendment of existing Registration13REG-13Order of Allotment of Temporary Registration/ Suo Moto Registration14REG-14Application for Cancellation of Registration under GST 2015REG-15Show Cause Notice for Cancellation of Registration16REG-16Order for Cancellation of Registrationwww.ada.org.in/gstindia.biz

23. 23List of Forms related to registrationS.No.Form NumberDescription17REG-17Application for Revocation of Cancelled Registration under GST 2018REG-18Order for Approval of Application for Revocation of Cancelled Registration19REG-19Notice for Seeking Clarification / Documents relating to Application for Revocation of Cancellation20REG-20Application for Enrolment of Existing Taxpayer21REG-21Provisional Registration Certificate to existing taxpayer22REG-22Order of cancellation of provisional certificate23REG-23Intimation of discrepancies in Application for Enrolment of existing taxpayer24REG-24Application for Cancellation of Registration for the Migrated Taxpayers not liable for registration under GST 20www.ada.org.in/gstindia.biz

24. 24List of Forms related to registrationS.No.Form NumberDescription25REG-25Application for extension of registration period by Casual / Non-Resident taxable person.26REG-26Form for Field Visit Reportwww.ada.org.in/gstindia.biz

25. 25www.ada.org.in/gstindia.biz

26. ASHU DALMIA & ASSOCIATES CHARTERED ACCOUNTANTS A-36, 2nd Floor, Guru Nanak Pura Laxmi Nagar, Delhi-110092, INDIA Tel: +91 -11 -22466591, 22422707, 45665691 Mob: +91-9810893243 Email: ashu.dalmia@ada.org.in Website: http://www.gstindia.biz/ada.org.inFor any inquiry