GST Notifications

We are summarizing herewith gist of the various Notifications at one place.

1. The Government has eased out requirement to mention HSN code of items in tax invoice under GST as mentioned in a table below:- 12/2017-Central Tax,dt. 28-06-2017

Serial No	Annual turnover in the preceding Financial Year	Number of Digits of HSN Code
1	Upto rupees one crore fifty lakhs	Nil
2	More than rupees one crore fifty lakhs and upto rupees five crores	2
3	More than rupees five crores	4

2. The Government has fixed the rate of interest for the following cases as mentioned in table below:- 13/2017-Central Tax,dt. 28-06-2017

Serial No.	Description	Rate of Interest
1	In case of non-payment of tax amount	18%
2	In case of undue or excess claim of input tax credit or undue or excess reduction in output liability	24%
3	In case refund is withheld and which as a result of appeal or further proceedings is sanctioned	6%
4	In case of refund not granted within 60 days from the date of making application for refund	6%
5	In case of refund not granted within 60 days from the date of receipt of application filed consequent to an order passed by an adjudicating authority or Appellate Authority or Appellate Tribunal or Court	9%

3. The Government has prescribed the list for the goods on which GST is applicable on reverse charge basis. 04/2017-Central Tax (Rate),dt. 28-06-2017

Serial No.	Tariff item, sub-heading, heading or Chapter	Description of supply of Goods	Supplier of goods	Recipient of supply
1	0801	Cashew nuts, not shelled or peeled	Agriculturist	Any registered person
2	1404 90 10	Bidi wrapper leaves (tendu)	Agriculturist	Any registered person
3	2401	Tobacco leaves	Agriculturist	Any registered person
4	5004 to 5006	Silk yarn	Any person who manufactures silk yarn from raw silk or silk worm cocoons for supply of silk yarn	Any registered person
5	-	Supply of lottery.	State Government, Union Territory or any local authority	Lottery distributor or selling agent.

4.       The Government has exempted the Intra-State supplies of goods or services or both received by a registered person from any supplier, who is not registered, from the whole of the GST leviable thereon, if amount of such supply from any or all the un-registered suppliers is upto Rs. 5,000 in a day. 08/2017-Central Tax (Rate),dt. 28-06-2017

5. The registered person may issue a consolidated invoice at the end of a month for all supplies from unregistered suppliers covered under RCM, where the aggregate value of such supplies exceeds Rs. 5,000 from all the suppliers. 08/2017-Central Tax (Rate),dt. 28-06-2017

6. The Government has exempted intra-State supplies of second hand goods received by a registered person, dealing in buying and selling of second hand goods and who pays the GST on the value of outward supply of such second hand goods, from any supplier, who is not registered, from the whole of the tax leviable thereon under RCM. 10/2017-Central Tax (Rate),dt. 28-06-2017

7. The Government has exempted intra-State supplies of goods/services received by a TDS deductor, from any supplier, who is not registered, from the whole of the tax leviable under RCM, subject to the condition that the deductor is not liable to be registered otherwise than under the category of mandatory registration. 09/2017-Central Tax (Rate),dt. 28-06-2017

8.       The rate of tax on services namely, construction of a complex, building, civil structure or a part thereof, including a complex or building intended for sale to a buyer, wholly or partly, except where the entire consideration has been received after issuance of completion certificate, where required, by the competent authority or after its first occupation, whichever is earlier, has been increased from 12% to 18%.

Note:  However, the requirement to include land value from computation of tax liability has been removed and it has been stated that the value of land or undivided share of land, as the case may be, in such supply shall be deemed to be 1/3rd of the total amount charged for such supply.

9. The Government has notified that, no refund of unutilised Input Tax Credit shall be allowed in relation to taxes paid on supply of services, relating to construction of complex, building, civil structure or part thereof, including a complex or building intended for sale to a buyer, wholly or partly, except where the entire consideration has been received after issuance of completion certificate. 15/2017-Central Tax (Rate) ,dt. 28-06-2017

10. The word “room tariff & room rent” as mentioned in the rate schedules approved by the GST council has been replaced “declared tariff”. With effect of this amendment, the GST rate applicable on room rent shall be determined based on declared tariff. However, tax shall be levied on the transaction value.

11.    Rate of GST on fertilisers has been reduced from 12% to 5%.

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