GST Notification No. 48-2018-CT to 52-2018-CT – an analysis

Notification No. 48/2018 Central Tax dated 10^th September, 2018 extract and an analysis

The Central Government, exercising the powers conferred by section 164 of the CGST Act, 2017 made amendment to CGST Rules, 2017 which may be called as CGST (Ninth Amendment) Rules, 2018.

Notwithstanding anything contained in sub-rule (1) of rule 117, sub-rule (1A) of rule 117 of the CGST Rules, 2017 shall be inserted to state that the Commissioner may, on the recommendations of the Council, in respect of registered persons who couldnt submit the said declaration within due date, due to technical difficulties on the common portal, extend the date for submitting the said declaration electronically in FORM GST TRAN-1, not beyond 31^st March, 2019.

A proviso shall be inserted in sub-rule (4), in clause (b), in sub-clause (iii) to state that registered persons filing declaration in FORM GST TRAN-1 in accordance with sub-rule (1A), may submit the statement in FORM GST TRAN-2 by 30^th April, 2019.

In rule 142, in sub-rule (5), after the words and figures of section 76, the words and figures or section 125 shall be inserted.

Analysis

1. Sub-rule (1A) of rule 117 of CGST Rules, 2017 inserted to facilitate registered taxpayers, who couldnt file FORM GST TRAN-1, to claim transitional credit due to technical difficulties on the common portal. Such registered taxpayers have been granted extended period of not later than 31^st March, 2019 to file.
2. Registered taxpayers, who would file FORM GST TRAN-1 under sub-rule (1A) supra, may submit statement in FORM GST TRAN-2 by 30^th April, 2019.

4. Rule 142 of the CGST Rules, 2017 stipulates notice and order for demand of amounts payable under the Act, while sub-rule (5) of rule 142 inter alia includes summary of orders to be issued under different sections, section 125 shall be inserted after section 76. Section 125 stipulates about general penalty in case of contraventions of any provisions of the Act or any rules made there under for which no penalty has been separated provided in the Act.

Notification No. 49/2018 Central Tax dated 13^th September, 2018 extract and an analysis

The Central Government, exercising the powers conferred by section 164 of the CGST Act, 2017 made amendment to CGST Rules, 2017 which may be called as CGST (Tenth Amendment) Rules, 2018.

FORM GSTR-9C shall be inserted after FORM GSTR-9A.

Reference may be drawn to rule 80(3) of CGST Rules, 2017 which stipulates that every registered person whose aggregate turnover during a financial year exceeds two crore rupees shall get his accounts audited as specified under sub-section (5) of section 35 and shall furnish a copy of audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR-9C, electronically through the common portal.
Salient points of FORM GSTR-9C

Notification No. 50/2018 Central Tax dated 13^th September, 2018 extract and an analysis

The Central Government, exercising the powers conferred by sub-section (3) of section 1 of the CGST Act, 2017 and in supercession of the notification no. 33/2017 Central Tax, dated 15^th September, 2017, hereby appoints 1^st October, 2018 be the date on which provisions of section 51 (Tax deduction at source) of the CGST Act, 2017 shall come in to force with respect to the persons specified below:

a. an authority or a board or any other body, –

1. set up by an Act of Parliament or a State Legislature; or
2. established by any Government,

with fifty-one per cent. or more participation by way of equity or control, to carry out any function;

b. society established by the Central Government or the State Government or a Local Authority under the Societies Registration Act, 1860;

c. public sector undertakings.

SKS Alert:

1. In case of intra-State supply, rate of deduction of tax at source shall be @1% CGST and @1% SGST, and in case of inter-State supply, rate of deduction of tax at source shall be @2%.
2. Value of supply, on which tax shall be deducted, shall be taken as excluding central tax, State tax, Union territory tax, integrated tax and cess indicated in the invoice.
3. This provision is applicable where total value of supply of goods or services or both, under a contract, exceeds two lakh and fifty thousand rupees.
4. Registered persons, as specified above, are required to take registration under Section 24 (vi) of the CGST / SGST Act, 2017.
5. Tax (GST) deducted at source, shall be paid to the Central Government within 10 (ten) days after the end of the month in which tax was deducted at source, failing which the deductor shall pay interest in accordance with provision of section 50(1), i.e, at a rate of interest not exceeding 18%.

Notification No. 51/2018 Central Tax dated 13^th September, 2018 an analysis

The Central Government, exercising the powers conferred by sub-section (3) of section 1 of the CGST Act, 2017, hereby appoints 1^st October, 2018 be the date on which provisions of section 52 (Collection of tax at source) of the CGST Act, 2017 shall come in to force.

SKS Alert:

1. Section 52 is applicable for every electronic commerce operator, not being an agent.
2. Tax to be collected at source at a rate, to be separately notified, in terms of sub-section (1) of section 52 of the Act on net value of supply.
3. Tax (GST) collected at source, shall be paid to the Central Government within 10 (ten) days after the end of the month in which tax was collected at source.

Notification No. 52/2018 Central Tax dated 20^th September, 2018 an analysis

The Central Government, exercising the powers conferred by sub-section (1) of section 52 of the CGST Act, 2017, hereby notifies the rate of tax at which an electronic commerce operator, not being an agent, shall collect an amount calculated at a rate of half per cent. of the net value of intra-State supplies made through it by other suppliers where the consideration with respect to such supplies is to be collected by the said operator.

Disclaimer: This publication contains information solely for general guidance and education purpose only. An endeavour to the best of the ability has been made to present the information of the above stated notifications in a simple and accurate way along with an analysis for ease of understanding and information. It is neither a guidance note nor is a professional advice, nor is intended to address any specific circumstance of any individual or entity. The undersigned does not accept any responsibility for loss incurred by any person for acting or refraining to act as a result of any matter in this publication.

About theAuthor : CMA. Susanta Kumar Saha

A seasoned professional with around 24 years experience in Corporate Finance, Direct & Indirect taxation, Financial & ManagementAccounting, Fund Management, Budgeting, ERP Implementation in different sectors of industry.
Corporate trainer in Goods and Services Tax, implementation and compliance consultant, advisory and litigation management.