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Important GST Updates –

1
November 2017

Discussion by:
CA Gaurav Gupta
Partner
MGS & Co.
Chartered Accountants
Supply of Bonded Goods 2

• Circular No. 46/2017-Cus dated 24 November 2017


• Any transaction of supply of bonded goods to be exigible to IGST
• Sale of inbond goods shall be exigible to IGST
Such person files
Ex Bond Bill of
Sale of Bonded entry and pays
Goods to another Customs Duty
Filing of inbond person
Bill of entry
Import of Goods computing
Customs thereon
(section 3(7)
deferred)

CA Gaurav Gupta
Supply of Bonded Goods 3

• Circular No. 46/2017-Cus dated 24 November 2017


• Against the concept explained in Circular No.33/2017-Cus
dt.1.8.2017
• Para 5 clearly states that in respect of imported goods all duties,
cess, etc shall be collected at the time of importation i.e. when
import declarations are filed before custom authorities for
clearance purpose.
• Against proviso to Section 5 of IGST Act
• Double taxation
CA Gaurav Gupta
Taxability of Printing contracts 4

• Circular No. 11/11/2017-GST dated 20th October 2017


• Issue - Supply of printed material – whether supply of goods or
supply of services
• In case of books, pamphlets, brouchers, annual report - Principal
supply held to be printing and material used including paper
shall fall within the ambit of principal supply
• In case of envelopes, letter heads, printed boxes, tissues, etc -
Principal supply held to be supply of goods and printing shall fall
within the ambit of principal supply

CA Gaurav Gupta
Procurement of goods from DTA 5

• Circular No. 14/14/2017-GST dated 6th November 2017


• Issue – Procedure of supplies from DTA by EOU/ STP/ BTP
• Such supplies considered as deemed export under Section 147 of
CGST Act, 2017 [Notification No. 48/2017-CT dt. 18.10.2017
Maintenance
of records in
Receipt of Form B
Tax invoice
Sending on receipt of
goods with goods to be
Filing of tax invoice submitted
intimation in
Form A
CA Gaurav Gupta
Availability of ITC in respect of certain
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services

• Circular No. 16/16/2017-GST dated 15th November 2017


• Issue 1 – warehousing of agricultural produce
• Not. No. 12/2017 dt 28.6.2017 entry 54
• Processed outputs of agricultural produce shall not be exigble to
this benefit
• Green tea- Tea : sugar cane – Jaggery : Coffee beans – Coffee :
pulses : dehusked or split pulses

CA Gaurav Gupta
GST on movement of goods otherwise than
7
for Supply

• Circular No. 21/21/2017-GST dated 22nd November 2017


• Issue 1 – Movement of goods on wheels
• Movement of rigs, tools and spares and goods on wheels shall be
treated as neither supply of goods nor supply of services

CA Gaurav Gupta
GST on inputs in respect of exporters of
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fabrics

• Circular No. 18/18/2017-GST dated 16th November 2017


• A manufacturer of fabrics will be eligible for refund of unutilised
ITC if GST paid on inputs (not on capital goods)
• Such refund is not available when sold to SEZ

CA Gaurav Gupta
Issues clarified on email FAQ 9

S.No. Issue Clarifiaction


2 Can trader selling on e No
commerce can opt
composition scheme
6. Supply to Nepal / Bhutan Goods – export, services – Exempt
7. Will GST be debited in duty No
scrips like MEIS, SEIS

15. Would HO will raise invoices Yes


for finance, IT and other
admin functions to other units
18. Procedure for sending free Delivery challan
replacements
Issues clarified on email FAQ 10

S.No. Issue Clarifiaction


37 Penal interest on loans and It shall be taxable
advances
38 Taking over of business of Company can file Tran 1
partnership firm by company,
who will take credit on
opening stock
42 Would tax be payable on Yes
business asset on which no
credit was claimed

43 What kind of facilities Fringe benefit to employee are taxable if not


provided employer to exempted
employee would be liable to
GST
Issues clarified on email FAQ 11

S.No. Issue Clarifiaction


47 Whether GST is leviable on Yes, unless, benefit of pure agent is available –
other government taxes which to consider EDC, IDC
are levied on same value of
supply
52 TOS in case of government TOS shall be 30 days from supply of services
work where engineers prepare i.e. when the supply is finalised by engineer or
measurement book and no supplier whichever is earlier.
invoicing is done by supplies
60 Credit of reverse charge paid Yes
whether available in same
month
Issues clarified on email FAQ 12

S.No. Issue Clarifiaction


63 Whether RCM on Hiring of This is vehicle taken on lease ad is taxable
transport from unregistered under 9966 or 9973
traders
66 Reimbursement of expenses Yes
to staff comes under RCM?
76 Can traders below 20 Lakhs Yes, except goods on which reverse charge is
buy from other states applicable

78 I am a company dealing in No
exempted goods, having HO at
Mumbai and branch at Gujrat
and UP. Do I need to register?
Issues clarified on email FAQ 13

S.No. Issue Clarifiaction


81 Whether licensed tour guide Yes, in every state where he is supplying
having registered office in one services from and his presence is there in all
state but supplying services such states.
across India need to register
91 All excess tax paid in June, Yes
can the same be used for
payment of GST
Thank you 14

CA Gaurav Gupta
Partner

MGS & Co.


LD- 65, Pitampura, Delhi – 110034

+91 11 4781 8819

+91 98110 13940

cagauravmgs@gmail.com

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