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Frequently Asked Questions about Goods and Services Tax (GST)1. What is GST? How does it work? GST is one indirect tax for the whole nation, which will make India one unified common market. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer; 2. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage; 3.
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The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set- off benefits at all the previous stages. What are the benefits of GST? The benefits of GST can be summarized as under. Backed with a robust end- to- end IT system, GST would be simpler and easier to administer than all other indirect taxes of the Centre and State levied so far; 2) Better controls on leakage: GST will result in better tax compliance due to a robust IT infrastructure - due to the seamless transfer of input tax credit from one stage to another in the chain of value addition, there is an in- built mechanism in the design of GST that would incentivize tax compliance by traders; 3) Higher revenue efficiency: GST is expected to decrease the cost of collection of tax revenues of the Government, and will therefore, lead to higher revenue efficiency.
Under GST, there would be only one tax from the manufacturer to the consumer, leading to transparency of taxes paid to the final consumer; 2) Relief in overall tax burden: Because of efficiency gains and prevention of leakages, the overall tax burden on most commodities will come down, which will benefit consumers. Which taxes at the Centre and State level are being subsumed into GST?
At the Central level, the following taxes are being subsumed: 1) Central Excise Duty; 2) Additional Excise Duty; 3) Service Tax; 4) Additional Customs Duty commonly known as Countervailing Duty; and 5) Special Additional Duty of Customs. At the State level, the following taxes are being subsumed: 1) Subsuming of State Value Added Tax/Sales Tax; 2) Entertainment Tax (other than the tax levied by the local bodies), Central Sales Tax (levied by the Centre and collected by the States); 3) Octroi and Entry Tax; 4) Purchase Tax; 5) Luxury tax; and 6) Taxes on lottery, betting and gambling. How would GST be administered in India?
Keeping in mind the federal structure of India, there will be two components of GST – Central GST (CGST) and State GST (SGST); Both Centre and States will simultaneously levy GST across the value chain; Tax will be levied on every supply of goods and services; Centre would levy and collect Central Goods and Services Tax (CGST), and States would levy and collect the State Goods and Services Tax (SGST) on all transactions within a State; The input tax credit of CGST would be available for discharging the CGST liability on the output at each stage; Similarly, the credit of SGST paid on inputs would be allowed for paying the SGST on output; No cross utilization of credit would be permitted. How will technology be used for the implementation of GST? For the implementation of GST in the country, the Central and State Governments have jointly registered Goods and Services Tax Network (GSTN) as a not- for- profit, non- Government Company to provide shared IT infrastructure and services to Central and State Governments, tax payers and other stakeholders; The key objectives of GSTN are to provide a standard and uniform interface to the taxpayers, and shared infrastructure and services to Central and State/UT governments; A team is working on developing a state- of- the- art comprehensive IT infrastructure including the common GST portal providing front- end services of registration, returns and payments to all taxpayers, as well as the backend IT modules for certain States that include processing of returns, registrations, audits, assessments, appeals, etc.; All States, accounting authorities, RBI and banks, are also preparing their IT infrastructure for the administration of GST; There would no manual filing of returns and all taxes can also be paid online; All mis- matched returns would be auto- generated, and there would be no need for manual interventions since most returns would be self- assessed. What are the major features of the proposed registration procedures under GST?
The major features of the proposed registration procedures under GST are as follows: 1) Existing dealers: Existing VAT/Central excise/Service Tax payers will not have to apply afresh for registration under GST; 2) New dealers: Single application to be filed online for registration under GST; 3) The registration number will be PAN based and will serve the purpose for Centre and State; 4) Unified application to both tax authorities; 5) Each dealer to be given unique ID GSTIN; 6) Deemed approval within three days; 7) Post registration verification in risk based cases only. What are the major features of the proposed returns filing procedures under GST? The major features of the proposed returns filing procedures under GST are as follows: 1) Common return would serve the purpose of both Centre and State Government; 2) There are eight forms provided for in the GST business processes for filing for returns; 3) Most of the average tax payers would be using only four forms for filing their returns; 4) These are return for supplies, return for purchases, monthly returns and annual return; 5) Small taxpayers who have opted composition scheme shall have to file return on quarterly basis; 6) Filing of returns shall be completely online.
All taxes can also be paid online. Who is an Existing Taxpayer? An existing taxpayer is an entity currently registered under any of the Acts as specified below: -a. Central Exciseb. Service Taxc. State Sales Tax / VAT (except exclusive liquor dealers if registered under VAT)d. Luxury Taxf. Entertainment Tax (except levied by the local bodies)9. What does the word enrolment under GST system portal mean?
Enrolment under GST means validating the data of existing taxpayers and filling up the remaining key fields. Do I need to enroll for GST?
All existing taxpayers registered under any of the Acts as specified in Q1 will be transitioned to GST. Enrolment for GST will ensure smooth transition to GST regime. The data available with various tax authorities is incomplete and thus fresh enrolment has been planned. Also, this will ensure latest data is available in GST Database without any recourse to amendment process, which is the norm to update the data under tax statutes today. Why do I need to enroll myself as a user on the GST System Portal? GST System portal has been created for this purpose as no paper based enrolment will be allowed. You need to enroll as a user on the GST system portal, so that you may be enabled as a registrant for GST Compliance requirement viz.
When do I need to enroll with the GST Systems Portal? The taxpayers registered under any Acts as specified under Q1 are required to enroll at GST System Portal. State VAT and Central Excise can start enrolling from October, 2. GST System Portal as per plan indicated on GST System portal. The taxpayers registered under Service Tax will be enrolled on a later date for which separate intimation will be sent.
Is there any concept of deemed enrolment on GST System Portal? No. There is no deemed enrolment on GST system portal. All the taxpayers registered under any of the Acts as specified in Q1, are expected to visit the GST System Portal and enroll themselves. Is there any fee/charge levied for the enrolment on GST System Portal? No. There is no fee/charge levied for the enrolment of a taxpayer with GST System Portal. Is the enrolment process different for taxpayers registered under Centre /State/UT tax Acts as specified in Q1? No. The enrolment process is common for all taxpayers registered under Centre /State/UT tax Acts as specified in Q1.
Are taxpayers required to enroll separately with Central and State authorities under GST? No, any person who wants to seek enrolment under the GST Act has to apply on the GST System Portal. Enrolment under the GST is common for both Central GST and the State GST. There will be common registration, common return and common Challan for Central and State GST.
What is the format of Provisional ID? What information should be readily available with me before I begin to enroll with GST? Before enrolling with GST System Portal, you must ensure to have the following information/ documents available with you: -I.
Provisional ID received from State/Central Authorities; II. Password received from the State/Central Authorities; III. Valid Email Address; IV. Valid Mobile Number; V. Bank Account Number. VI. Bank IFSCDocumentsa. Proof of Constitution of Business: I.
In case of Partnership firm: Partnership Deed of Partnership Firm (PDF and JPEG format in maximum size of 1 MB)II. In case of Others: Registration Certificate of the Business Entity (PDF and JPEG format in maximum size of 1 MB)b. Photograph of Promoters/ Partners/Karta of HUF (JPEG format in maximum size of 1. KB)c. Proof of Appointment of Authorized Signatory (PDF and JPEG format in maximum size of 1 MB)d. Photograph of Authorized Signatory (JPEG format in maximum size of 1. KB)e. Opening page of Bank Passbook / Statement containing Bank Account Number of < Account Number> , Address of Branch, Address of Account holder and few transaction details (PDF and JPEG format in maximum size of 1 MB)1.
Which username do I need to provide during first time login. Can I use the same username and password which I used to login as State registrant?
For the first time login, you need to provide username and password that you received from the State VAT/Centre Tax Department. For subsequent login, you need to enter username and password as created by you while enrolling with GST System Portal. What user ID can I choose after first login?