GST (Make it Simple) by AUBSP October 2018 Edition: Goods and Services Tax by Suresh Prasad

This GST Act book is amended up to 2nd October 2018. It has been prepared for the benefit of Students and Professionals. It is based on the Central Goods and Services Tax (CGST) Act, 2017, the State Goods and Services Tax (SGST) Act 2017, the Union Territory Goods and Services Tax (UTGST) Act 2017 and the Integrated Goods and Services Tax (IGST) Act 2017, the Central Goods and Services Tax Rules, 2017, Orders, Circulars and Notifications as notified by the Ministry of Finance.

Extract from INDEX of this ebook are

Introduction
History of GST Act 2017
Taxes subsumed within the GST
GST Notifications
The Central Goods and Services Tax Act, 2017
PRELIMINARY (Sections 1-2)
ADMINISTRATION (Sections 3-6)
LEVY AND COLLECTION OF TAX (Sections 7-11)
TIME AND VALUE OF SUPPLY (Sections 12-15)
INPUT TAX CREDIT (Sections 16-21)
REGISTRATION (Sections 22-30)
TAX INVOICE, CREDIT AND DEBIT NOTES (Sections 31-34)
ACCOUNTS AND RECORDS (Sections 35-36)
RETURNS (Sections 37-48)
PAYMENT OF TAX (Sections 49-53)
REFUNDS (Sections 54-58)
ASSESSMENT (Sections 59-64)
AUDIT (Sections 65-66)
INSPECTION, SEARCH, SEIZURE AND ARREST (Sections 67-72)
DEMANDS AND RECOVERY (Sections 73-84)
LIABILITY TO PAY IN CERTAIN CASES (Sections 85-94)
ADVANCE RULING (Sections 95-106)
APPEALS AND REVISION (Sections 107-121)
OFFENCES AND PENALTIES (Sections 122-138)
TRANSITIONAL PROVISIONS (Sections 139-142)
MISCELLANEOUS (Sections 143-174)
SCHEDULEs

The Integrated Goods and Services Tax Act, 2017
The Union Territory Goods and Services Tax Act, 2017
The Goods and Services Tax (Compensation to States) Act, 2017
The Central Goods and Services Tax Rules, 2017
The Integrated Goods and Services Tax Rules, 2017
The Union Territory GST Rules, 2017
The Goods and Services Tax Compensation Cess Rules, 2017

The CGST/IGST/UTGST Tax Rates with HSN Code
No e-Way Bill Required in Certain Cases

CGST/IGST/UTGST Exemption Schedule and Conditional Exemption

CGST on Reverse Charge Basis
Exemption in Excess of 2.5% CGST Tax
Input Tax Credit (ITC)
Canteen Stores Department (CSD)
Exemption for Inward Supplies of Goods
Exemption for Supplies received from Unregistered Person
Exemption for Supplies to a Registered Recipient for Export
Exemption for Supplies received by Deductor u/s 51
Exemption for intra-State supplies of second hand goods
Exemption for intra-State supplies of Services of Description
The Integrated Goods and Services Tax Exemptions
UTGST Conditional Exemption for supply of services
UTGST on Reverse Charge Basis for supply of services

There are mainly two types of GST viz. Central GST and State GST. For transaction within a State, there are two components of GST Central GST (CGST) and State GST (SGST) being levied on the value of goods and services. In case of inter-state transactions, the Centre would levy and collect the Integrated GST (IGST). The IGST would roughly be equal to CGST plus SGST.

Central Government levied CGST for intra-State supply and IGST for inter-State supply. State Governments including Union Territories with legislatures levied SGST or Union territories without legislatures levied UTGST for intra-State supply.

All four Bills related to GST i.e. Central GST Bill, Integrated GST Bill, GST (Compensation to States) Bill, and Union Territory GST Bill 2017 passed in Lok Sabha on Wednesday, March 29, 2017. After having obtained the assent of the President of India on Wednesday, April 12, 2017, it has now become the Central Goods and Services Tax Act i.e. CGST Act 2017, the State Goods and Services Tax Act i.e. SGST Act 2017, the Integrated Goods and Services Tax Act i.e. IGST Act 2017 and the Union Territory Goods and Services Tax Act i.e. UTGST Act 2017.