Goods & Services Tax: Acts and Rules, Notifications and Circulars - Issued by Central Board of Indirect Taxes and Customs, Ministry of Finance (Department of Revenue) + Related Acts & Rules

Goods and Services Tax (GST) in India is governed by a comprehensive framework of Acts, Rules, notifications, and circulars issued by the Central Board of Indirect Taxes and Customs (CBIC), under the Ministry of Finance, Department of Revenue. These documents provide the regulatory and operational guidelines for the implementation and administration of GST.

Key Documents and Their Overview

1. GST Acts and Rules

1. Central GST Act, 2017 (CGST Act):

   • Governs the levy and collection of GST on intra-state supplies of goods and services.
   • Includes provisions related to registration, payment of tax, input tax credit, returns, and refunds.

2. State GST Acts (SGST Acts):

   • Each state has its own GST Act to govern the intra-state supplies of goods and services.
   • Similar in structure to the CGST Act but implemented by the respective state governments.

3. Integrated GST Act, 2017 (IGST Act):

   • Governs the levy and collection of GST on inter-state supplies of goods and services, including imports and exports.
   • Provisions for determining the place of supply and apportionment of tax revenue between the center and states.

4. Union Territory GST Act, 2017 (UTGST Act):

   • Governs the levy and collection of GST in Union Territories without a legislature.

5. GST (Compensation to States) Act, 2017:

   • Provides for compensation to states for any revenue loss arising due to the implementation of GST.

6. GST Rules:

   • Detailed rules for various aspects of GST such as registration, invoicing, returns, payment, refund, and assessment.
   • Examples include the CGST Rules, IGST Rules, and SGST Rules.

2. Notifications

1. Rate Notifications:

   • Specify the applicable GST rates for different categories of goods and services.
   • Include changes and updates to tax rates as decided by the GST Council.

2. Exemption Notifications:

   • Provide exemptions from GST for specified goods and services.
   • Conditions and criteria for claiming exemptions are detailed in these notifications.

3. Procedural Notifications:

   • Outline procedures for compliance with various GST provisions, such as registration, filing of returns, and payment of tax.
   • Include amendments and updates to existing procedures.

4. Amendment Notifications:

   • Introduce changes to the GST Acts and Rules, including modifications to tax rates, procedural requirements, and compliance norms.

3. Circulars

1. Clarification Circulars:

   • Provide clarifications on various provisions of the GST laws to address ambiguities and interpretational issues.
   • Help taxpayers understand and comply with GST regulations.

2. Instructional Circulars:

   • Offer detailed instructions on the implementation of specific provisions of the GST laws.
   • Guidance on procedural aspects such as filing of returns, claiming refunds, and maintaining records.

3. Policy Circulars:

   • Communicate policy decisions taken by the GST Council and the CBIC regarding the implementation and administration of GST.

Key Aspects Covered

• GST Rates: Applicable rates for different goods and services, including exemptions and concessional rates.
• Compliance Requirements: Procedures for registration, filing of returns, payment of tax, and maintenance of records.
• Input Tax Credit (ITC): Conditions and procedures for claiming input tax credit, reversals, and restrictions.
• Refunds: Procedures for claiming refunds of excess tax paid, export refunds, and other eligible refunds.
• Assessments and Audits: Guidelines for self-assessment, scrutiny, audit, and assessment proceedings under GST.
• Appeals and Dispute Resolution: Procedures for filing appeals, dispute resolution mechanisms, and penalties for non-compliance.