gst an overviewarsconsultants.net/.../uploads/2016/12/gst-an-overview.pdf · 2020. 3. 28. ·...

7/10/2017

1

[email protected] www.arsconsultants.net 110-Jul-17

S. No Topics Covered1. Introduction to GST2. Levy, Composition and Supplyy, p pp y3. Registration4. Valuation5. Input Tax Credit6. Payment of Tax7. Returns under GSTTo

pics Covered


8. Transition Provisions9. Documentation Under GST10. Accounts and records under GST

ST

Article 366 clause (12A) of the Constitution ofIndia, defines goods and services tax as –

“goods and services tax” means any tax on supply of goods or services or both except taxes on the supply of. I

ntrodu

ction to GS


goods, or services or both except taxes on the supply of the alcoholic liquor for human consumption

1.

Concept of Dual GST

I S S l I S S lST Intra‐State Supply

CGST (9%) SGST (9%)

Inter‐State Supply

IGST (18%)

CE Duty,Service Tax, etc.

VAT, Entry Tax, Entertainment Tax, etc

CE Duty (Hidden)+ CST / Service Tax

Introd

uctio

n to GS


CENTER STATESSHARED b/w CG & SG

1.

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2

Present Vs. GST Regime – Tax Structure (Dealer)

ST Existing Regime

Intra State Inter State

Upcoming GST Regime

Intra ‐ State Inter ‐ State

SP: 100 SP: 100 SP: 100CGST(14%): 14 SP: 100. I

ntrodu

ction to GS


VAT(5%) 14.5Total: 114.5

CST(2%) 2Total: 102

CGST(14%): 14SGST(14%) 14Total: 128

IGST(28%): 28Total: 128

1.

Central Taxes State Taxes

ST

Central excise duty

Additional Excise Duties

Excise Duty levied under the Medicinal

and Toilet Preparations (Excise Duties)

Act, 1955

Service Tax

State Value Added Tax/Sales Tax

Entertainment tax

Central Sales Tax

Octroi and Entry tax

Purchase Tax

Luxury tax. Introdu

ction to GS


Additional Customs Duty

Special Additional Duty of Customs

Central Surcharges and Cesses

Luxury tax

Taxes on lottery, betting and gambling

State Cesses and Surcharges

1.

Change in Tax StructureST

Present Future

Central Excise Manufacturing Goods Goods or

ServiceSupply

CGST + SGST

Or VAT Sale Goods. Introdu

ction to GS


Service IGSTVAT Sale Goods

Service Tax Provision Service

1.

Levy CGST on intra-state supplies, except on alcoholic liquor, of value determined under Sec 15, at a rate not exceeding 20%, payable by taxable person

If E-Commerceoperator have no

1

CGST Act

Section 9

Supp

ly

Specify categories of G/S - taxpayable on Reverse Chargeb i

central tax on petroleum crude, high speed diesel, petrol, natural gas and aviation turbine fuel shall be levied from such date as may be notified

CentralGovtshall

physical presencein the taxableterritory,

- any person representing it or

- as to be appointed by it,

1

2

35

y, Com

position and


basis

Supply of G/S by an unregisteredperson to a registered person -tax to be paid by recipient onReverse charge basis

shall be liable topay tax.42.

Levy

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3

Sec – 10 Composition Levy

‐ permit a regd. persont i di FY 75 l

Central Govt. may

Withdraw permission

1 2

Supp

ly

‐ aggr. turnover in preceding FY < 75 lacs‐ pay tax at rates

1. For manufacturers – 1%2. For supply of foods, article for human

consumption – 2.5%3. For Others – 0.5 %

‐ on turnover in each state

permissionpermission to be granted if such person is not :

PROVIDED

Withdraw permission‐aggregate turnoverduring a FY > 75 lakhs

y, Com

position and


e.

permission to be granted , if such person is not :‐a. Supplying service, other than supply of food, article of

human consumption except alcoholic liquorb. Supplier of non‐taxable goodsc. Making inter‐state outward supplies of goodsd. Supplying goods through an E‐ Commerce operatore. Manufacturing such goods as may be notified

All assessee regd. with same PAN to opt simultaneously for composition levyPR

OVIDED

FURT

HER

2. Levy

Sec – 10 Composition Levy( Contd…..)

Supp

ly

Taxable Person

‐shall not collect any tax‐nor be entitled to any creditof Input tax

If Taxable person not eligible forcomposition Levy , he shall be liable to:‐1. Tax (if any)2. Penalty , along with provisions of Sec

73 or 74

3 4

y, Com

position and


of Input tax 73 or 74.

2. Levy

Supp

ly

Sl. No. Category of registered person Rate of Tax on

Turnover

1. Manufacture 1%

2. Supply of food or any other article for human

consumption

2.5%

y, Com

position and


consumption

3. Any other supplier 0.5%2. Levy

(1)Inter StateIntra State

(2)Import of Service

Supp

ly

Supply

– G/S

Consideration√

Import of Service

‐ Consideration√

(3)Schedule – I

Consideration Xi. Disposal

ii Di ti t P

(4)Schedule – II

i. Land & Buildingii. Treatment – Other’s goodsiii. Temporary transfer or Use y,

Com

position and


ii. Distinct Personiii. Principal – Agent –

Principaliv. Import Service – Related

Person

of IPRiv. Software

v. Works Contractvi. Refrain from an act

2. Levy

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Registration(State wise)

Aggregate Turnover In States other than special

category > 20 Lakh

In any special category States>10

E i d

3. Registratio

n


g yLakhEvery person registered

under existing law

As per Clause 4(g) of Article 279A of the Constitution

States Covered:1. Arunachal Pradesh 2. Assam

3. Jammu and Kashmir 4. Manipur

5. Meghalaya 6. Mizoram3. Registratio

n


7. Nagaland 8. Sikkim

9. Tripura 10. Himachal Pradesh

11. Uttarakhand

1. Persons ki

Persons required mandatory registration

making any inter‐State

taxable supply

2. Casual taxable persons

3. Persons required to pay

tax under reverse charge 4. Specified by

Council, Electronic commerce operator

5. Non‐resident taxable persons

11. Person supplying online information and database access or retrieval services

from a place outside India to a person in

India

12. Other persons as notified

3. Registratio

n


6. Who are required to

deduct tax u/s 517. Persons who

supply goods and/or services on behalf of other taxable persons

8. Input service distributor

9. Persons making supplies through

electronic commerce operator, who is

required to deduct tax U/S 52

10. Every E‐commerce operator

25(1): Person liable to be registered shall within 30 days of hisbecoming liable shall apply for registration

25(1): Person liable to be registered shall within 30 days of hisbecoming liable shall apply for registrationbecoming liable, shall apply for registration,

However a casual taxable person or a non‐resident taxable personshall apply for registration at least five days prior to thecommencement of business.

25(2): Registration ‐ state‐wise compulsoryb l l

becoming liable, shall apply for registration,

However a casual taxable person or a non‐resident taxable personshall apply for registration at least five days prior to thecommencement of business.

25(2): Registration ‐ state‐wise compulsoryb l l

3. Registratio

n


‐ business vertical‐wise optional 25(4): Distinct persons ‐ Each registration

25(6): PAN ‐ a must for registration TDS Deductor.

‐ business vertical‐wise optional 25(4): Distinct persons ‐ Each registration

25(6): PAN ‐ a must for registration TDS Deductor.

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25(8) S t i t ti 25(8): Suo‐moto registration

25 (9): Specialised Agency and notified persons ‐ UniqueIdentification Number (UIN)

25(10): Registration / UIN shall be granted or rejected ‐ after due3. Registratio

n


verification

Deemed Registration – SGST or UTGST ‐> CGST [Sec 26]

Amendment of Registration – inform to Proper Officer [Sec 28]

Cancellation of Registration [Sec 29]‐ death, amalgamation, demerger, etc.

Fraud Will full Misstatement etc

3. Registratio

n


‐ Fraud, Will full Misstatement, etc.

Revocation of Cancellation of Registration – within 30 days from cancellation – to Proper Officer. [Sec 30]

Section 15 (2)‐ Value of taxable supplyValue of supply = Transaction value

Inclusions (DATES)

Taxes, duties, cess, fees and chargeslevied under any statute other thanCGST / SGST / UTGST / GST(Compensation to states) Act ifcharged separately by the supplier. (a)

Subsidies directlylinked to the priceexcluding subsidies byCentral/StateGovernment. (e)

Expenses (Incidental)charged by supplierbefore or at the time ofdelivery/supply of thegoods/services. (c)4.

Valuatio

n


Amount (any) liable to be paid by supplierbut incurred by recipient of the supply. (b)

Delayed payment charges=Interest/late fee/ penalty. (d)

Contd....

Section 15(3) ‐ Value of taxable supply

Value of supply not to include Discount

Given before or at the time of the supply

Given after the time of supply, provided that

P id d di t h Di t i i t f

4. Valuatio

n


Provided discount has been duly recorded in the invoice issued

Discount is in terms of agreement entered into at or before the time of such supply.

ITC has been reversed by the recipient as is attributable to the discount on the basis of document issued by the supplier.

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Rule 1Consideration not wholly in money, Value =•Open market Value of such supply (a)

• consideration in money+ money value of other consideration (b)

• Value of supply of like kind and quality (c)

Rule 2B/w related and distinct person,Value =•Open market Value of such supply (a)

• Value of supply like kind and quality (b)

• As per rule 4 or 5 (c)

Rule 3Supply made/received through agent,Value= •Open market Value of such supply or 90% of the price charged by the supplier when sold to unrelated person (a)

• As per rule 4 or 5 (b)

4. Valuatio

n


quality (c)• As per rule 4 or 5 (d)

Contd…Rule 4.

Value of supply of goods or services or both based on costIf Value is not determinable under previous three rules, then it shallp ,be 110% of Cost of production or manufacture or cost of acquisitionof such goods or cost of such services.

Rule 5.

Residual methodWhere the value cannot be determined under rules 1 to 4, then ith ll b d t i d i bl d i i f

4. Valuatio

n


shall be determined using reasonable means under provisions ofsection 15 and these rules:Provided that in case of supply of services, the supplier may opt forthis rule, disregarding rule 4.

Some Definitions – for the purpose of this rule

(a) “open market value” of a supply of G/S ‐ means the full value in money,excluding the IGST, SGST, CGST. UTGST and the cess payable by a person in atransaction, where1. the supplier and the recipient of the supply are not related and2. price is the sole consideration,to obtain such supply at the same time when the supply being valued is made.

(b) “supply of goods or services or both of like kind and quality” means anyth l f G/S d d i il i t th t i t f th

4. Valuatio

n


other supply of G/S made under similar circumstances that, in respect of thecharacteristics, quality, quantity, functional components, materials, andreputation of the G/S first mentioned, is the same as, or closely or substantiallyresembles, that supply of goods or services or both.

Taxable l ITC Available

Section 16‐ Eligibility and conditions for taking inputtax credit (read with Rule 1,2 of ITC Rules)

t

Credit of input tax charged on supply of goods or services

Goods/Services Goods/Services used for business

supply

Exempt Supply No ITC

Goods/services used other than for business

No ITC5. Inpu

t Tax Credit


Conditions: Tax paying document‐ Tax paid to Govt‐G/S Received‐ Return Furnished‐

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16(2): If input recd in lots ‐ credit will be allowed on receipt of last lot

S 16(2) d R l 2 If t i t id b li ithi 180 d f i f i it Sec 16(2) and Rule 2: If tax is not paid by supplier within 180 days of issue of invoice, ITC claimed shall be added in output liability of recipient

16(3): If depreciation is claimed in tax component of cost of capital goods under Income Tax Act, 1961 – credit

16(4): Time limit to avail ITC – due date of furnishing of return U/s 39 for Sept of 5. Inpu

t Tax Credit


following FY

Rule 1(3): Tax paid for ‐ demand raised on account of fraud, willful misstatement or suppression of fact – Credit

S. 17 ‐ Apportionment of credit and blocked creditsGoods and services used

t

(1) Partly for business andpartly for other purpose

(2) Partly for taxable supply(inc Zero‐rated) and partly forexempt supply

Proportionately –attributable to business useonly

Proportionately –attributable to taxablesupply only (inc zero‐rated5.

Inpu

t Tax Credit


supply)

(a) Motor vehicles and other tt conveyances except

1. Used for• further supply of such vehicles or conveyances ; or

• transportation of passengers; or• imparting training on driving, flying, navigating such vehicles or 5.

Inpu

t Tax Credit


g gconveyances;

2. for transportation of goods

Negative List Contd…1. Food and

beverages2. health services

and plastic

9. leave or home travel concession

tot

(b) Supply of

Specified goods and/or Services

psurgery

3. beauty treatment

4. outdoor t i7 rent a

8. life/ health

insurance

to employees

5. Inpu

t Tax Credit


catering

5. membership of a club

6. health and fitness centre

7. rent‐a‐cab

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Contd…(c) Works contractservice for construction

(e) G/S on which taxpaid under

(d) G/S receivedfor Construction oft

(i) tax recovered onaccount of Fraud (h) goods Lost, stolen,

of immovable property,other than plant andmachinery except whereoutward supply is alsoworks contract service,

pComposition scheme

(f) G/S received by Non‐resident taxable personexcept on goodsimported by him

immovableproperty otherthan plant andmachinery, on hisown account

5. Inpu

t Tax Credit


(g) G/S used forPersonal consumption

account of Fraud,detention & releaseof goods andconfiscation

destroyed, written off ordisposed of by way ofgift or free samples

Section 49‐ Payment of tax, interest, penalty and other amounts, read with Rule 1,2,3 of Payment of Tax Rules

x Electronic Cash Ledger (FORM GST PMT‐05)

Credited:Deposit of tax, interest, penalty, fee or other amount by a taxable person through internet banking, NEFT, RTGS, Debit/ Credit Cards or any other mode

Electronic Credit Ledger(FORM GST PMT‐02)

Credited:ITC as self assessed in the return

6. Paymen

t of Tax


Debited:Amount available may be used for payment oftax, interest, penalty, fees or any other amount

Debited:Amount available may be used only for payment of output tax payable

Electronic Liability Ledger (FORM GST PMT‐01)

Debited Credited

x

(a) the amount payable towards tax, interest, late fee or any other amount payable as per the return

furnished by the said person;

(b) the amount of tax, interest, penalty or any other amount payable as determined by a proper officer in

pursuance of any proceedings under the Act;

(c) the amount of tax and interest payable as a result

(a) by payment of his liability by debiting electronic cash/credit ledger

(b) By payment of his Reverse Charge liability

6. Paymen

t of Tax


(c) the amount of tax and interest payable as a result of mismatch under or

(d) any amount of interest that may accrue from time to time.

(c) Relief given by appellate authority or appellate tribunal or court

(d) By payment of tax, interest, penalty specified in Show Cause notice

FORM GST PMT‐04 – to communicate any discrepancy in Electronic

FORM GST PMT‐03 – To re‐credit cash/credit ledger when any refund is rejected

x y p yliability/credit/cash Ledger to the officer exercising jurisdiction

The deposit shall be made through:(i) Internet Banking through authorized banks;

FORM GST PMT‐06 – Challan for payment of tax6. Paymen

t of Tax


(i) Internet Banking through authorized banks;(ii) Credit card or Debit card through the authorised bank;(iii) NeFT or RTGS from any bank;(iv) Over the Counter payment (OTC) through authorized banks for deposits up to Rs. 10,000/‐ per challan per tax period.

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Sec. 49(5) Manner of utilization of ITCInput Tax Credit

x

IGST CGST SGST UTGST

1st: IGST

2nd:CGST

1st: SGST

2nd:IGST

1st: CGST

2nd:IGST

1st: UTGST

2nd:IGST6. Paymen

t of Tax


3rd: SGST/UTGST CGSTSGST or UTGST CGST

Step 1Every registered taxable person shall furnish the details ofST Every registered taxable person shall furnish the details ofoutward supplies (in FORM GSTR ‐1) of goods or services on orbefore the 10th day of the month succeeding the tax period andsuch details shall be communicated to the recipient of the saidsupplies (in Part A of FORM GSTR – 2A). [Ref: Sec 37(1) readwith Rule 1]

Details of outward supplies shall include the details of. Returns und

er G

S


Details of outward supplies shall include the details of Invoices Debit notesCredit notes Revised invoices

7.

Step 2

1. Every registered taxable person (recipient) shall verify, validate, modify or, delete the details relating to outward supplies communicated toST relating to outward supplies communicated to prepare the details of his inward supplies. [Sec. 38(1)]

2. Every registered taxable person (recipient) shall furnish the details of inward supplies (in FORM GSTR 2) of goods or services including tax payable on reverse charge basis and under the IGST Act, between 10th and 15th of the month

di th t i d [S 38(2) l 2(2)]. Returns und

er G

S


succeeding the tax period. [Sec 38(2), rule 2(2)]

3. The details of supplies modified, deleted, included or furnished by the recipient shall be communicated to the supplier (in FORM GSTR 1A). [Sec 38(3), Rule 1(3)]

7.

Step 3

ST

Every registered taxable person whohas been communicated the detailsshall either accept or reject thedetails on or before 17th day of themonth succeeding the tax periodand the details furnished by him inFORM GSTR ‐1 shall stand amended. R

eturns und

er G

S


FORM GSTR 1 shall stand amendedaccordingly [Sec. 37(2), Rule 1(1)]7.

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Every registered taxable person shall furnish the details of

Step 4

ST Every registered taxable person shall furnish the details of– inward and outward supplies of goods and/or services,–input tax credit availed,–tax payable,–tax paid and–other particulars. R

eturns und

er G

S


other particularson or before the 20th day (in FORM GSTR 3) of the monthsucceeding such calendar month.

7.

Furnish details of Outward Supplies (GSTR‐1)ST pp ( )

Furnish details of Inward Supplies (GSTR‐2)

Accept/Reject the details so communicated. Returns und

er G

S


Accept/Reject the details so communicated

Furnish Return. (GSTR‐3)

7.

ST

ISD

Non‐resident taxable person

Composite tax payer

TDS deductor

TCS collector

. Returns und

er G

S


p

7.

Status of TP Frequency Due Date ReturnCompositeTax Payer

Quarterly Within 18 days after the end of suchquarter.

GSTR – 4(Rule 4)ST y q (Rule 4)

Non‐ResidentTaxablePerson

Monthly Earlier of ‐1. Within 20 days after the end of acalendar month or2. Within 7 days after the last day ofthe validity period of registration.

GSTR – 5(Rule 5)

ISD Monthly Within 13 days after the end of suchmonth

GSTR – 6(R l 6). R

eturns und

er G

S


month. (Rule 6)TDSDeductor

Monthly Within 10 days after the end of suchmonth.

GSTR – 7(Rule 7)

TCS Collector Monthly Within 10 days after the end of suchmonth

GSTR – 8(Rule 8)

7.

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140(1)140(1)

VAT/Entry

Sec 140(1) & 140(2)

ons

140(1) Cenvat credit

VAT/Entry tax

140(2) Unavailed

Allowed as ITC

Carried forward in return

Carried forward inTransition Provisio


Unavailed Cenvat

credit/ITC on capital goods

under GST

Carried forward in return8.

Credit is not admissible

under this Act

Cont...

ons

Under Sec 140(1)

No credit shall be allowed if Not furnished all

Credit relates to such goods mfg Tr

ansition Provisio


be allowed if returns req under earlier law (for

previous 6 months)

and cleared under such exemption notification as may be notified

8.

Under earlier lawMfg

Section 140(3)

ons

Not liable to be

registered

Mfg Exempted goods/ service

Works contractor

First stage dealer

Second stage dealer

Registered importer

Registered taxable person

Transition Provisio


Entitled to credit of eligible duties /taxes on inputs held in stock

Conditions

8.

i. Inputs to be used for making taxable supplies;ii. Eligible for ITC under this Act;

Conditions:

ons

iii. Invoice/documents to be in possession; if not in possession ofinvoice then he may take credit at the rate and in themanner prescribed subject to certain limitation andsafeguards.

iv. Invoice/documents issues not earlier than twelve monthspreceding the appointed day.

v. Supplier of service is not eligible for any abatement under theact.Tr

ansition Provisio


8.

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12

Engaged in mfg or provisioning Entitled to credit

Sec 140(4)

ons

A registered taxable person

provisioning exempted and non‐exempted goods/service

Entitled to credit as per sec 140(1)

and 140(3)

Sec 140(5): Goods or services in transit

Duty paid Goods received Eligible for creditTr

ansition Provisio


Appointed day

for credit of such duty

8.

Sec140(6): Composition Dealer switching over

Composition Normal Switches over to

Credit of eligible duties on Entitled to

ons

taxpayer schemedu es oinputs held in stock

Conditions:

i. Inputs to be used for making taxable suppliesii. Person does not pay tax under Sec-10iii. Eligible for ITC under this ActTr

ansition Provisio


iv. Invoice/documents to be in possession; if not in possession ofinvoice then he may take credit at the rate and in the mannerprescribed subject to certain limitation and safeguards.

v. Invoice/documents issued not earlier than twelve monthspreceding the appointed day.

8.

Sec 142(1): Duty paid goods returned to place of business on or after the ons

Duty/tax, if any paid goods removed (earlier law)

Appointed dayAppointed day

Returned to any place of business Eligible

for refund

Max 6 monthsMax 6 months

Sec 142(1): Duty paid goods returned to place of business on or after the appointed day

Transition Provisio


8.

1. Goods to sent to Job Worker (Inter‐State and Intra State)

Events and Documents reqd in each case

er GST

1. Delivery Challancontaining the required details [IN TRIPLICATE]

2. E‐way Bill in Form GST INS‐01

3. An intimation to be given (as prescribed)

2. Supply of goods to customers (Inter‐State and Intra State)

ocum

entatio

n Und

e


1. Tax Invoice [IN TRIPLICATE)]

2. E‐way Bill in Form GST INS‐019.

Do

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13

3. Advance payment received RECEIPT VOUCHER (containing the required details)

4 Invoice issued within effective R i d I i (i di ti i tler GST

4. Invoice issued within effective date of registration till the date of RC

Revised Invoice (indicating prominantlythe word "Revised Invoice")

5. Distribution of ITC as ISD ISD Invoice or ISD Credit Note

6. Procuring supplies liable to tax under RCM

Issue Invoice on self

ocum

entatio

n Und

e


7. Payments made to such suppliers on which supply RCM applicable Issue PAYMENT VOUCHER

8. No supplies against ADVANCE received earlier Issue REFUND VOUCHER

9. Do

production or manufacture of goods

inward and outward supply of G/S

Accounts & Records ‐ A true and correct account of (1)

er GST

stock of goods

ITC availed

output tax payable and paid

Importation of G/S

Export of G/Socum

entatio

n Und

e


Export of G/S

supplies taxable under RCM

invoices, bills of supply, delivery challans, credit notes, debit notes, receipt vouchers, payment vouchers, refund vouchers and e‐way bills

9. Do

1. opening balance

8. balance

Accounts & Records ‐ Accounts of Stock (2)

nder GST

Accounts of Stock ‐ each commodity received &

supplied shall contain

balance2. receipt

3. supply

7. written off or disposed off by way of gift or free samples

balance of stock

unts and

records u


4. goods lost

5. stolen

6. destroyed10

. Acco

ADVANCE (3)Separate account of advances received, paid and adjustments

thereof

Accounts & Records

nder GST

TAX DETAILS (4)

1. details of tax payable (inc.

RCM)

2. tax collected and paid

3. input tax and ITC claimed

4. register of tax invoice, credit note, debit note, delivery challan issued or received during any tax period

unts and

records u


Keep the particulars of (5)

1. name and address of suppliers

2. name and address of recipients

3. address of premises where the goods are stored including goods

stored during transit

10. A

cco

7/10/2017

14

books of account at the principal place of business and at every related place(s) of business as mentioned in certificate of registration

Accounts & Records – NORMS of maintaining Accounts & Records (6)

nder GST

g

no entry in register, accounts and documents be erased, effected or overwritten. Incorrect entries shall be scored out under attestation

documents if electronically ‐ a log of every entry edited or deleted be maintained.

unts and

records u


each volume of books of account be serially numbered.

records so maintained ‐authenticated by means of digital signature10. A

cco

particulars of authorization received from each principal to receive or supply goods / services on behalf of such principal

Accounts & Records – Accounts to maintain by an AGENT (7)

nder GST

g / p p

description, value and quantity of goods or services received / supplied on behalf of every principal.

details of accounts furnished to every principalunts and

records u


tax paid on receipts or on supply of goods or services effected on behalf of every principal.10

. Acco

Accounts & Recordsnder GST

Accounts & Records ‐Monthly Production Accounts, (8)

a)RawMaterials / b) Goods sounts and

records u


a)Raw Materials / Services used –

quantitative details

b) Goods so manufactured (including waste/ by products)‐quantitative details

10. A

cco

invoice received from the supplier

Accounts & Records ‐ Input Tax Credit

nder GST

debit note issued by the supplier

bill of entry

invoice issued by the recipient in respect of suppliesunts and

records u


invoice issued by the recipient in respect of supplies liable to tax under RCM

ISD invoice or ISD credit note10. A

cco

7/10/2017

15

ARS Supports Compliance (Accounting, Computation, Return Filing); l


Compliance Review; Compliance Verification Support (Audit, Scrutiny, Investigation etc.); Advisory; Litigation Management; Transition to GST.