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READING DOWN MODEL IGST ACT (MISCELLANEOUS PROVISIONS)(LAST PART-12)

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 5-8-2016 - The part of the series of articles on IGST covers the following provisions Chapter Sections In Relation to IX 27 to 30 Miscellaneous Provisions X 31 Transitional Provisions XI 32, 33 Administration of IGST Miscellaneous Provisions Application of Provisions of CGST Act Section 27 provides that certain provisions of the CGST Act, 2016 shall apply to IGST also in the manner they apply to levy of tax under CGST Act. These p .....

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er As per section 28, The Central Government may, on recommendation by GST Council, by notification in the Official Gazette, make rules for carrying out the purposes of IGST In particular and without prejudice to the generality of the foregoing power, such rules may provide settlement of powers and for all or any of the matters which under any provision of this Act are required to be prescribed or to be provided for by rules Section 28 is the enabling provision by which Central Government shall .....

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f the GST Council. The interest shall be paid for the period of delay, i.e. from the first day the tax is due to be paid to the actual date of payment or actual number of days of delay. Interest shall be applicable on the tax or any part thereof. It has been provided, unlike in the present provisions, that the person liable to pay interest shall pay interest on his own. This would mean that the liability to pay interest is automatic and no demand notice / adjudication would be necessary to confi .....

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ation when tax is wrongfully collected and deposited with the Central or State Government. Accordingly, a taxable person who has paid IGST on a transaction considered by him to be an inter-state supply, but which is subsequently held to be an intra-state supply, shall, upon payment of CGST and SGST in the appropriate State, be allowed to take the amount of IGST so paid as refund subject to the provisions of refund as per section 38 of the CGST Act, 2016 and such other conditions as may be prescr .....

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elf, taking advantage of IT platform. Alternatively, time bound refund should be made suo motu without any refund claim. Transitional Provisions Section 31 contains the transitional provisions which will take care of applicability of provisions for transactions which are into transition (i.e. pending) as on the appointed day, i.e. the date from which IGST law shall come into force. It applies to import of services or inter-state supply of goods and / or services made on or after the appointed da .....

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eceived or made before the appointed day. Following transitional provisions have been provided - import of services or inter-state supply of goods and/or services made after the appointed day shall be liable to tax under the provisions of this Act regardless of whether the transactions for such import of services or inter-state supply had been initiated before the appointed day. if the tax on such import or inter-state supply had been paid in full under the earlier law, no tax shall be payable o .....

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