1. FINANCE BILL 2019 INDIRECT TAX PROVISIONS
VADODARA BRANCH OF WIRC OF ICAI
FINANCE BILL 2019
INDIRECT TAX PROVISIONS
6 जुलाई,
2019
Presented By: CA Anirudh Sonpal

2. GST – 2 Years …. The Journey
CA Anirudh Sonpal

3. NUMBER OF REGISTRATIONS
AS ON
NUMBER OF REGISTRATIONS
% CHANGES
July 2017
38,51,211
June 2018
1,12,45,715
(+192% YoY)
June 2019
1,22,58,569
(+9% YoY)
Collections
PERIOD
IN CRORES
Rs. 7,41,000
Rs. 11,77,369
April 2019
Rs. 1,13,865
May 2019
Rs. 1,00,289
June 2019
Rs. 99,939
CA Anirudh Sonpal

4. NUMBER OF 3B RETURNS (in Lacs)
PERIOD
NUMBER OF 3B RETURNS (in Lacs)
669.68
993.56
April -19
78.94
May -19
74.73
Number of council meetings
PERIOD
NUMBERS 26 8
Upto June-19 1
CA Anirudh Sonpal

5. In 40% of cases, suppliers found profiteering & penalty levied
Advance Rulings
AUTHORITY
TOTAL APPLICATIONS
DISPOSALS
AAR
884
480
Appellate AAR
100 73
Anti-profiteering
F.Y.
NO. OF CASES 29
In 40% of cases, suppliers found profiteering & penalty levied
2019 46
CA Anirudh Sonpal

6. Fraudulent ITC Claims – fake invoices
F. Y.
NO. OF CASES
ITC AMOUNT (RS. CRORES)
ARRESTS 5 13 2
1,620
11,251
154
(Upto June 2019)
535
2,565 40
IDT – Evasions
F. Y.
DETECTION
RECOVERY
Cases
Amount (Rs. Crores)
10,217
23,619
11,101
6,108
6,815
(2,313)
32,204
(26,567)
6,220
4,578
(2,914)
(Upto Dec 2018)
8,917
(3,767)
48,556
(49,158 – Upto Mar 2019)
6,678
13,908
(11,853 – Upto Mar 2019)
CA Anirudh Sonpal

7. E-way bills FUNCTIONALITIES STATISTICS – 2018-19
STATISTICS – UPTO JUNE 2019
Total e-Way Bills generated
55,77,78,921
14,37,01,713
Count of Inter State e-Way Bills
24,87,92,732 (44.60%)
5,94,51,189 (41.37%)
Count of Intra State e-Way Bills
30,89,86,189 (55.40%)
8,42,50,524 (58.63%)
Highest number of e-Way Bill generated in a day
23,84,869 (on 28th Feb 2019)
Number of Tax payers registered with e-Way Bill system as on Date
28,89,216
30,25,715
Number of Transporters registered with e-Way Bill system as on Date
41,041
43,065
CA Anirudh Sonpal

8. Notifications/circulars/orders
F.Y.
CGST
IGST
Notifications
Circulars
Orders
152 38 13 74 2 -
104 58 4 34
Upto June 2019 18 10 3
CA Anirudh Sonpal

9. CA Anirudh Sonpal

10. Goods and Services Tax
Adjudicating Authority shall include the National Appellate Authority for Advance Ruling [Sec. 2(4)]
Composition [Sec. 10]
Value of Turnover to exclude the value of exempt supply of services provided by way of extending deposits/loans of which consideration represented by way of interest/discount
Extended to 6%
Registration [Sec. 22]
Threshold Limit – Supply of Goods – Rs. 40 Lakhs
CA Anirudh Sonpal

11. Goods and Services Tax Procedure for Registration [Sec. 25]
Undergo authentication or furnish Aadhaar No.
Facility of Digital Payment [Sec. 31A]
Online Invoicing – < Rs.5 Crores
Returns [Sec. 39] – Revised system
Payment [Sec. 49]
Facility on Common Portal to transfer Tax/Interest/Penalty or Amount available in Electronic Cash Ledger for the Taxes – facility for adjustment
CA Anirudh Sonpal

12. NEW RETURN SYSTEM
GST Council in its 35th meeting held on 21st June, 2019 proposed to introduce New Return System in phased manner:
PERIOD
APPLICABLE TO
TYPES OF RETURN
July to September 2019
Trial basis to all Tax Payers
(Continue to file GSTR-1 & GSTR -3B)
ANX -1 & ANX -2
October, 2019 onwards
Large Tax Payers having aggregate turnover in P.Y. more than Rs. 5 Crore
(Continue to file GSTR-3B for October and November 2019)
FORM GST RET-01 (NEW) to be filed December 2019 onwards
1. ANX -1 – monthly
ANX -2 (View only)
2. GST RET-01 –
Monthly
October to December 2019 and onwards
Small Tax Payers having aggregate turnover in P.Y. upto Rs. 5 Crore
(not to file GSTR-3B; monthly payment- PMT 08)
FORM GST RET-01 (NEW) to be filed October 2019 onwards (Quarterly)
ANX -1 – Quarterly
ANX -2 (View Only)
GST RET-01 –
Quarterly
CA Anirudh Sonpal

13. Goods and Services Tax Interest [Sec. 50]
To be paid only on Tax paid by cash
Net payment & not gross payment
Appellate Authority [Sec. 100]
National Appellate Authority for advance ruling to be constituted
Conflicting Advance Rulings of Appellate Authorities
Appeal within 30 days of the order
Binding
Anti-Profiteering [Sec. 171]
Penalty 10% if profiteered amount not deposited within 30 days
CA Anirudh Sonpal

14. सबका विश्वास (Legacy Dispute Resolution) Scheme, 2019
Applicable to the following enactments:
Central Excise Act, 1944/ Central Excise Tariff Act, 1985
Service Tax (Chapter V of Finance Act, 1944) and Rules made thereunder
26 Other Enactments
Any other as may be notified
CA Anirudh Sonpal

15. सबका विश्वास (Legacy Dispute Resolution) Scheme, 2019
Tax Dues
Amount Disputed where appeal is pending as on before the appellate forum
Amount Payable as per SCN received on or before
Amount Quantified on or before where enquiry/investigation/audit pending
Amount voluntarily disclosed
Amount in Arrears – Duty recoverable as Arrears of Duty
CA Anirudh Sonpal

16. सबका विश्वास (Legacy Dispute Resolution) Scheme, 2019
Not Eligible for Declaration
Appeal heard before
SCN issued and heard before
Convicted for a punishable offence for the matter of declaration
Enquiry/Investigation/Audit – Duty not quantified till
Voluntary Disclosure – Enquiry/Investigation/Audit; amount payable as per return filed
Application filed before Settlement Commission
CA Anirudh Sonpal

17. सबका विश्वास (Legacy Dispute Resolution) Scheme, 2019
SITUATION
TAX DUES
RELIEF
Tax Dues are relatable to SCN/Appeal pending on
< Rs. 50 Lakhs
70% of Tax dues
> Rs. 50 Lakhs
50% of Tax dues
Tax Dues are relatable to amount in arrears
60% of Tax dues
40% of Tax dues
Tax Dues linked to Enquiry/Investigation, etc.
Entire Late Fee/Penalty if duty paid and SCN is for late fee/penalty
Amount paid as Pre-deposit/Deposit shall be deducted from amount payable; no refund if such amount exceeds amount payable
CA Anirudh Sonpal

18. सबका विश्वास (Legacy Dispute Resolution) Scheme, 2019
Declaration: Electronic form to be prescribed
Designated Committee shall issue in Electronic Form:
Statement within 60 days if estimated amount equals the amount declared
Estimate within 30 days if estimated amount exceeds the declared amount – opportunity for hearing
Declarant to pay within 30 days
Appeal (except SC/HC) shall stand withdrawn & WP to be withdrawn
Discharge Certificate within 30 days
Amount Paid
Not through ITC
Cannot be refunded
CA Anirudh Sonpal

19. सबका विश्वास (Legacy Dispute Resolution) Scheme, 2019
Discharge Certificate shall be conclusive:
No prosecution – same matter and time period
No further duty/tax/interest – same matter and time period
Same matter and time period cannot be reopened
CA Anirudh Sonpal

20. Customs Seizure of Goods, Documents or Things [Sec. 110]
Custody of seized goods to the owner or beneficial owner on execution of undertaking
Provisional attachment of bank account – protect interest of revenue or prevent smuggling
Penalty [Sec. 117]
Penalty limit increased from Rs. 1 Lakh to Rs. 4 Lakhs
Certain offences with reference to Duty Drawback & Duty Free Scrips – cognizable and non-bailable
CA Anirudh Sonpal

21. Service Tax Exemptions/Refund
License fee by State Govt. for Liquor License – to
IIM-Specified Programmes – to
Upfront Amount (Premium/Salami) on long-term lease of 30 years or more by State Government Industrial Development Corporation – to
Claim for refund within 6 months of enactment
CA Anirudh Sonpal

22. Increase in customs Duty rates
COMMODITY
OLD RATE
NEW RATE
Gold, Silver & Other Precious Metals
10%
12.5%
Construction Materials
15%
Stainless Steel, Other alloy steel 5%
7.5%
Charger/Power adapter for CCTV camera/IP camera/DVR/NVR
Nil
Plugs, sockets, switches, connectors, relays
Applicable rate
Cashew Kernels (Broken/Whole)
Rs.60/ Rs.70 per Kg or 45%, whichever is higher
70%
Marble Slabs
20%
40%
Articles of Plastics
Rubber
Materials used for Printing of Newspapers
Printed Books & Manuals
CA Anirudh Sonpal

23. decrease in customs Duty rates
COMMODITY
OLD RATE
NEW RATE
Wool Fibre & Tops 5%
2.5%
Hides, skins and leathers, tanned and untanned
60%
40%
El Tanned Leather
15%
Nil
Specified Defence Equipments & their Parts
Applicable rate
Parts of Electric Vehicles
Medical Devices – Raw materials for artificial kidneys, disposable sterilized dialyzers
Nuclear Fuels & Nuclear Energy Projects
CA Anirudh Sonpal

24. OTHER RATES
Petrol & Diesel – Special Additional Excise Duty & Road & Infrastructure Cess – Rs.2 per litre
Exemption – Uranium Ore Concentrates – Retrospective as also under GST
Electric Vehicle & Parts – To be recommended – GST from 12% to 5%
CA Anirudh Sonpal

25. THE WAY
FORWARD…
CA Anirudh Sonpal

26. Presented By: CA Anirudh Sonpal
Thank You ,
Presented By: CA Anirudh Sonpal