TMI BlogThe Karnataka Pradesh Goods and Services Tax (Third Amendment) Rules, 2019.X X X X Extracts X X X X X X X X Extracts X X X X ..... the proviso, the following explanation shall be inserted, namely: - Explanation : - For the purpose of this sub-rule, it is hereby clarified that the value of assets means the value of the entire assets of the business, whether or not input tax credit has been availed thereon. . 3. Amendment of rule 42. In rule 42, of the said rules, (1) in sub rule (1),- (a) in clause (f), the following Explanation shall be inserted, namely:- Explanation .- For the purpose of this clause, it is hereby clarified that in case of supply of services covered by clause (b) of paragraph 5 of Schedule II of the said Act, value of T 4 shall be zero during the construction phase because inputs and input services will be commonly used for construction of apartments booked on or before the date of issuance of completion certificate or first occupation of the project, whichever is earlier, and those which are not booked by the said date. (b) in clause (g), after the letter and figure FORM GSTR-2 , the words, letters and figure and at summary level in FORM GSTR-3B shal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... through FORM DRC-03 ; ; (f) in the clause (m), for the words added to the output tax liability of the registered person , the words, letters and figures reversed by the registered person in FORM GSTR-3B or through FORM DRC-03 shall be substituted; (2) in sub-rule (2), for the words The input tax credit , the words, figures and bracket Except incase of supply of services covered by clause (b) of paragraph 5 of the Schedule II of the Act, the input tax credit shall be substituted; (3) in the clause (a) of sub-rule (2), for the words added to the output tax liability of the registered person , the words, letters and figures reversed by the registered person in FORM GSTR-3B or through FORM DRC-03 shall be substituted; (4) after sub-rule (2), the following sub-rules shall be inserted, namely:- (3) In case of supply of services covered by clause (b) of paragraph 5 of the Schedule II of the Act, the input tax determined under sub-rule (1) shall be calculated finally, for each ongoing project or project which commences on or after 1st April, 2019, which did not undergo or did n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pation takes place of the project. (4) In case of supply of services covered by clause (b) of paragraph 5 of Schedule II of the Act, the input tax determined under sub-rule (1) shall be calculated finally, for commercial portion in each project, other than residential real estate project (RREP), which underwent transition of input tax credit consequent to change of rates of tax on the 1 st April, 2019 in accordance with notification No. (11/2017) No. FD 48 CSL 2017 dated the 29th June, 2017, published in Karnataka Gazette, Extraordinary, Part-IVA, No. 601, dated the 29th June, 2017, as amended for the entire period from the commencement of the project or 1st July, 2017, whichever is later, to the completion or first occupation of the project, whichever is earlier, before the due date for furnishing of the return for the month of September following the end of financial year in which the completion certificate is issued or first occupation takes place of the project, in the following manner. (a) The aggregate amount of common credit on commercial portion in the project (C3 aggregate_comm ) shall be calculated as under, C3 agg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shed in Karnataka Gazette, Extraordinary, Part-IVA, No. 601, dated the 29th June, 2017,, as amended. (6) Where any input or input service are used for more than one project, input tax credit with respect to such input or input service shall be assigned to each project on a reasonable basis and credit reversal pertaining to each project shall be carried out as per sub-rule (3). . 4. Amendment of rule 43. In rule 43, of the said rules (i) in sub rule (1),- (a) in clause (a), after the words, letters and figures FORM GSTR-2 , the words, letters and figure and FORM GSTR-3B shall be inserted; (b) in clause (b), after the letters and figure FORM GSTR-2 , the words, letters and figures and FORM GSTR-3B shall be inserted; (c) after clause (b), the following explanation shall be inserted, namely: - Explanation : For the purpose of this clause, it is hereby clarified that in case of supply of services covered by clause (b) of paragraph 5 of the Schedule II of the said Act, the amount of input tax in respect of capital goods used or i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (C) in the proviso, for the word Provided , the words Provided further shall be substituted; (e) after clause (h), the following clause shall be inserted, namely,- (i) The amount Te shall be computed separately for input tax credit of Central tax, State tax, Union territory tax and integrated tax and declared in FORM GSTR-3B . ; (ii) for sub-rule (2) the following sub-rules shall be substituted, namely:- (2) In case of supply of services covered by clause (b) of paragraph 5 of schedule II of the Act, the amount of common credit attributable towards exempted supplies (Te final ) shall be calculated finally for the entire period from the commencement of the project or 1st July, 2017, whichever is later, to the completion or first occupation of the project, whichever is earlier, for each project separately, before the due date for furnishing of the return for the month of September following the end of financial year in which the completion certificate is issued or first occupation takes place of the project, as under: Te final = [(E1 + E2 + E3) /F] x Tc final , Wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the month shall be treated as one complete month. (3) The amount Te final and Tc final all be computed separately for input tax credit of central tax, State tax, Union territory tax and integrated tax. (4) Where any capital goods are used for more than one project, input tax credit with respect to such capital goods shall be assigned to each project on a reasonable basis and credit reversal pertaining to each project shall be carried out as per sub-rule (2). (5) Where any capital goods used for the project have their useful life remaining on the completion of the project, input tax credit attributable to the remaining life shall be availed in the project in which the capital goods is further used; ; (iii) the Explanation shall be numbered as Explanation 1 thereof and after Explanation 1 as so numbered, the following Explanation shall be inserted, namely:- Explanation 2: For the purposes of rule 42 and this rule,- (i) the term apartment shall have the same meaning as assigned to it in clause (e) of section 2 of the Real Estate (Regulation and Develop ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been credited to the bank account of the registered person on or before the said date; and (c) an allotment letter or sale agreement or any other similar document evidencing booking of the apartment has been issued on or before the said date. (xii) The term ongoing project shall have the same meaning as assigned to it in notification No. (11/2017) No. FD 48 CSL 2017 dated the 29 th June, 2017, published in Karnataka Gazette, Extraordinary, Part-IVA, No. 601, dated the 29 th June, 2017, as amended;; (xiii) The term project which commences on or after 1st April, 2019 shall have the same meaning as assigned to it in notification No. (11/2017) No. FD 48 CSL 2017 dated the 29th June, 2017, published in Karnataka Gazette, Extraordinary, Part-IVA, No. 601, dated the 29th June, 2017, as amended; . 5. Insertion of new rule 88A. After rule 88 of the said rules, the following rule shall be inserted, namely: - 88A. Order of utilization of input tax credit.- Input tax credit on account of integrated tax shall first be utilised towards payment of integrated tax, and the amou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r section 129 or section 130, a summary thereof electronically in FORM GST DRC-01, (b) statement under sub-section (3) of section 73 or sub-section (3) of section 74, a summary thereof electronically in FORM GST DRC-02, specifying therein the details of the amount payable. (2) Where, before the service of notice or statement, the person chargeable with tax makes payment of the tax and interest in accordance with the provisions of sub-section (5) of section 73 or, as the case may be, tax, interest and penalty in accordance with the provisions of sub-section (5) of section 74,or where any person makes payment of tax, interest, penalty or any other amount due in accordance with the provisions of the Act he shall inform the proper officer of such payment in FORM GST DRC-03 and the proper officer shall issue an acknowledgement, accepting the payment made by the said person in FORM GST DRC 04. (3) Where the person chargeable with tax makes payment of tax and interest under subsection (8) of section 73 or, as the case may be, tax, interest and penalty under sub-section (8) of section 74 within thirty days of the service of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (a) Brief facts of the case : (b) Grounds : (c) Tax and other dues : (Amount in Rs.) Sr. No. Tax rate Turnover Tax Period Act POS (Place of Supply) Tax Interest Penalty Others Total From To 1 2 3 4 5 6 7 8 9 10 11 12 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 2 3 4 5 6 7 8 9 10 11 12 Total Signature Name Designation Jurisdiction Address Note - 1. Only applicable fields m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Total You are hereby directed to make the payment by failing which proceedings shall be initiated against you to recover the outstanding dues. Signature Name Designation Address To _______________ (GSTIN/ID) --------------------------Name _______________ (Address ) Note 1. Only applicable fields may be filled up. 2. Column nos. 2, 3, 4 and 5 of the Table at serial no. 5 i.e. tax rate, turnover and tax period are not mandatory. 3. Place of Supply (POS) details shall be required only if the demand is created under the IGST Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Interest Penalty Others Total From To 1 2 3 4 5 6 7 8 9 10 11 12 Total ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... usion : Amount assessed and payable (Details at Annexure): (Amount in Rs.) Sr. No. Tax rate Turnover Tax Period Act POS (Place of Supply) Tax Interest Penalty Others Total From To 1 2 3 4 5 6 7 8 9 10 11 12 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... OR The notice referred to above was issued to you to explain the reasons as to why you should not pay tax for the period . as your registration has been cancelled under sub-section (2) of section 29 with effect from------------ Whereas, no reply was filed by you or your reply was duly considered during proceedings held on --------- date(s). On the basis of information available with the department / record produced during proceedings, the amount assessed and payable by you is as under: Introduction : Submissions, if any : Conclusion (to drop proceedings or to create demand) : Amount assessed and payable : (Amount in Rs.) Sr. No. Tax rate Turnover Tax Period Act POS (Place of Supply) Tax Interest Penalty Others ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax Period : F.Y. : Act/ Rules Provisions: Center s Assessment order under section 64 Preamble - standard It has come to my notice that un-accounted for goods are lying in stock at godown--------- (address) or in a vehicle stationed at -------------- (address vehicle detail) and you were not able to, account for these goods or produce any document showing the detail of the goods. Therefore, I proceed to assess the tax due on such goods as under: Introduction : Discussion finding : Conclusion : Amount assessed and payable (details at Annexure) : (Amount in Rs.) Sr. No. Tax rate Turnover Tax Period Act POS (Place of Supply) Tax Interest Penalty ..... X X X X Extracts X X X X X X X X Extracts X X X X
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