ॐ असतो मा सद्गमय
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)
No. Credit of Education Cess and SH EducationCess cannot be carried forward.
(FAQ 40: MINING)
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)
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)
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)
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)
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)
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)
In terms of the provision of Section 16(1) of the IGST Act, 2017 export of goods is considered as zero rated supply. Further, in terms of the provision of Section 16(3) of the IGST Act, 2017 a registered person may export
goods (i) without payment of IGST against bond/letter of
undertaking and claim refund of unutilised ITC, or (ii) on
payment of IGST,utilising eligible ITC and claim refund of
such IGST.
(FAQ 33: MINING)
No. Mining companies will not be eligible for ITC on such activities even if used in course or furtherance of business. In this connection, the provisions contained in section 17(5) (c) of the CGST Act, 2017 refer.
(FAQ 32: MINING)