Yes.Compensation cess will be charged on supply of such stock.
(FAQ 43: MINING)
Whether credit of Green Cess (Clean Energy Cess) paid on coal and available at the time of transition be eligible for being carried over
No.Credit of Clean Energy Cess cannot be carried forward on transition.
(FAQ 42: MINING)
What will happen to the balance available in the current account (PLA) under Central excise, deposited in cash in advance by any assesse
Balance in PLA will not be under transition to GST since that has not been appropriated to the Government account which will be determined post completion of the pending assessment. The same can be claimed as refund under the Central Excise Law.
(FAQ 41: MINING)
Education Cess and S&H Education Cess carried forward in ER-1 – whether eligible for ITC under the CGST Act, 2017
No. Credit of Education Cess and SH EducationCess cannot be carried forward.
(FAQ 40: MINING)
In Table 5(b) of GST-TRAN-1, the details of Form C, F and H/I are to be given for the period April 15 to June 17 (i.e. for 27 months) which would be a voluminous task. Reasons of furnishing the details for last 27 months may please be clarified
In cases where sales were covered by Forms C, F,H and I, the input tax credit has remained in the account of the taxpayer because the taxpayer has availed of the benefit of concessional rate/nil rate of tax on the sale/ stock transfer under CST Act. The benefit of concessional rate/nil rate is available conditional upon production of the statutory forms. Therefore,allowing migration of the credit that has accrued on account of sale/stock transfer having been made on concessional rate/nil rate should be given only on production of the statutory forms. Even otherwise, the taxpayer would have claimed refund of this ITC and such refund would have been given only on
production of the statutory forms. It has been presumed that forms for periods before April ‘15 would have either been presented or the State would have recovered the additional tax payable on account of non-production of
statutory forms. Production of these forms is a statutory liability and the taxpayers have already availed the benefit.
(FAQ 39: MINING)
Whether an Input Service Distributer (ISD) will be eligible to distribute the ITC in respect of services received during April 17 to June 17 even if the invoices are raised and submitted by contractors after appointed date i.e. in July 17
In terms of section 140(7) of the CGST Act, 2017 the ISD will be able to distribute the available credit even if the invoices are received after the appointed day.
( FAQ 38: MINING)
What is the requirement for E-way bill for companies operating in the sector
As per rule 138 of the CGST Rules, 2017, till such time as final rules are issued, the Government may, by notification, specify the documents that the person incharge of a conveyance shall carry while the goods are in movement or in transit storage. As and when the new e-way bill rules are notified, the person transporting the goods shall carry the said e-way bill generated from the common portal along with the invoice (challan in the case of movement other than by way of supply)
(FAQ 37: MINING)
Whether GST TDS will be applicable on Works Contract Jobs (to be renamed as Supply of Services) in case of PSUs, since such GST TDS U/s 51 (1) of CGST Act. 2017 is applicable on: a) Dept. or establishment of the Central Govt. or State Govt.; or b) Local authority; or c) Govt. agencies; or d) Such persons or category of persons as may be notified by the Govt. on the recommendations of the Council.
TDS, under section 51 (1) of the CGST Act, 2017 will apply to supplies made to such agencies as may be mandated by the Government for TDS. As of now, this section has not been notified and therefore TDS is not applicable on any supplies.
(FAQ 36: MINING)
How can we take support during filing of returns, as huge mines are located throughout the districts in the country, especially in rural and backward areas, and the problem will be aggravated as the huge number of mines are operating without any IT infrastructure
Returns may be filed from the central office of the Company which are usually located in areas with infrastructure required for filing such returns.
(FAQ 35:MINING)
What is the procedure for return of goods under GST
In terms of Section 34(1) of the CGST Act, 2017 in case of return of goods on which GST was paid at the time of supply, the supplier of such goods may issue a credit note for the full value, including the amount of GST in favour of the recipient, and will be entitled to reduce his output tax liability subject to the condition that the recipient of such supply has not availed credit of such GST and if availed, has reversed his ITC on the same.
(FAQ 34: MINING)