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Key highlights of Draft GST Rules on Accounts & Records, Appeals & Revision and Advance Ruling

Goods and Services Tax - GST - By: - Bimal jain - Dated:- 22-4-2017 Last Replied Date:- 30-12-1899 - Dear Professional Colleague, Key highlights of Draft GST Rules on Accounts & Records, Appeals & Revision and Advance Ruling In order to engage with the stakeholders and invite comments from the public at large, recently, the Central Government has issued 3 more Draft Goods and Services Tax ( GST ) Rules viz. Draft GST Rules on Accounts & Records, Appeals & Revision and Advance Rul .....

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ers, in the following manner: Every registered person shall keep and maintain, in addition to the particulars mentioned in Section 35(1) of the CGST Act, 2017 [i.e. true and correct account of production/manufacture of goods, inward and outward supply, stock of goods, input tax credit (ITC) availed etc.], a true and correct account of the goods or services imported or exported or of supplies attracting payment of tax on reverse charge along with relevant documents, including invoices, bills of s .....

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stored including goods stored during transit. If any taxable goods are found to be stored at any place(s) other than those declared above, without the cover of any valid documents, the proper officer shall determine the amount of tax payable on such goods as if such goods have been supplied by the registered person. Every registered person manufacturing goods shall maintain monthly production accounts, showing the quantitative details of raw materials or services used in the manufacture and qua .....

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e certificate of registration. Each volume of books of account shall be serially numbered and the records maintained in electronic form shall be authenticated by means of a digital signature. Proper electronic back-up of records shall be maintained and preserved in such manner that, in the event of destruction of such records due to accidents or natural causes, the information can be restored within reasonable period of time. Owner or operator of godown or warehouse and transporters who is requi .....

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on: The Draft GST Rules on Appeals & Revision provides clarity on various aspects including filing of appeal or application to the Appellant Authority/Appellant Tribunal, production of additional evidence before the Appellate Authorityor the Appellate Tribunal, Appeal to the High Court, disqualification for misconduct etc., in the following manner: An appeal to the Appellate Authority shall be filed in FORMGSTAPL-01 [either electronically or otherwise] and an appeal to the Appellate Tribunal .....

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number shall be issued in FORM GST APL-02. Where the hard copy of the appeal and documents are submitted within 7 days from the date of filing the Appeal, the date of filing of the appeal shall be the date of issue of provisional acknowledgement and where submitted after 7 days, the date of filing of the appeal shall be the date of submission of documents. The appeal shall be treated as filed only when the final acknowledgement, indicating theappeal number is issued. A memorandum of cross-objec .....

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for rectification of errors. Additional evidence cannot be produced before the Appellate Authority or the Appellate Tribunal, whether oral or documentary, other than the evidence produced during the course of the proceedings before the adjudicating authority or, as the case may be, the Appellate Authority except in specified circumstances viz., lower authority refusing to admit evidence, prevention by sufficient cause, order passed without giving sufficient opportunity to adduce evidence. The D .....

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ppellate Authority for Advance Ruling etc., in the following manner: The Central Government and the State Government shall appoint an officer having the experience of not less than 3 years in the rank of Joint Commissioner as member of the Authority for Advance Ruling. An application for obtaining an advance ruling shall be made on the common portal in FORM GST ARA-1 along with a fee of ₹ 5,000/-. An appeal against the advance ruling issued can be made to the Appellate Authority for advanc .....

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