THE UNION TERRITORY GOODS AND SERVICES TAX BILL, 2017 Transfer of input tax credit. 10. On utilisation of input tax credit of Union territory tax for payment of tax dues under the Integrated Goods and Services Tax Act in accordance with the provisions of sub-section (5) of section 49 of the Central Goods and Services… Read More »
THE UNION TERRITORY GOODS AND SERVICES TAX BILL, 2017 CHAPTER IV PAYMENT OF TAX Payment of tax. 9. The amount of input tax credit available in the electronic credit ledger of the registered person on account of,— (a) integrated tax shall first be utilised towards payment of integrated tax and the amount remaining, if any,… Read More »
THE UNION TERRITORY GOODS AND SERVICES TAX BILL, 2017 Power to grant exemption from tax. 8. (1) Where the Central Government is satisfied that it is necessary in the public interest so to do, it may, on the recommendations of the Council, by notification, exempt generally either absolutely or subject to such conditions as may… Read More »
THE UNION TERRITORY GOODS AND SERVICES TAX BILL, 2017 CHAPTER III LEVY AND COLLECTION OF TAX Levy and collection. 7. (1) Subject to the provisions of sub-section (2), there shall be levied a tax called the Union territory tax on all intra-State supplies of goods or services or both, except on the supply of alcoholic… Read More »
THE UNION TERRITORY GOODS AND SERVICES TAX BILL, 2017 Authorisation of officers of central tax as proper officer in certain circumstances. 6. (1) Without prejudice to the provisions of this Act, the officers appointed under the Central Goods and Services Tax Act are authorised to be the proper officers for the purposes of this Act,… Read More »
THE UNION TERRITORY GOODS AND SERVICES TAX BILL, 2017 Powers of officers. 5. (1) Subject to such conditions and limitations as the Commissioner may impose, an officer of the Union territory tax may exercise the powers and discharge the duties conferred or imposed on him under this Act. (2) An officer of a Union territory… Read More »
THE UNION TERRITORY GOODS AND SERVICES TAX BILL, 2017 Authorisation of officers. 4. The Administrator may, by order, authorise any officer to appoint officers of Union territory tax below the rank of Assistant Commissioner of Union territory tax for the administration of this Act.
THE UNION TERRITORY GOODS AND SERVICES TAX BILL, 2017 CHAPTER II ADMINISTRATION Officers under this Act. 3. The Administrator may, by notification, appoint Commissioners and such other class of officers as may be required for carrying out the purposes of this Act and such officers shall be deemed to be proper officers for such purposes… Read More »
THE UNION TERRITORY GOODS AND SERVICES TAX BILL, 2017 Definitions. 2. In this Act, unless the context otherwise requires,— (1) ‘‘appointed day’’ means the date on which the provisions of this Act shall come into force. (2) ‘‘Commissioner’’ means the Commissioner of Union territory tax appointed under section 3; (3) ‘‘designated authority’’ means such authority… Read More »
THE INTEGRATED GOODS AND SERVICES TAX BILL, 2017 STATEMENT OF OBJECTS AND REASONS Presently, article 269 of the Constitution empowers the Parliament to make law on the taxes to be levied on the sale or purchase taking place in the course of inter-State trade or commerce. Accordingly, Parliament had enacted the Central Sales Tax Act,… Read More »