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Booked hotel room? Expect 10% GST refund if room rate exceed Rs 7500

Booked hotel room? Expect 10% GST refund if room rate exceed Rs 7500

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Guests of luxury hotels are likely to gain from the recent government decision to slash goods and services tax (GST) on rooms priced at over Rs 7,500 to 18% from 28% now, and below that tariff to 12% from 18%. The new rates will be effective from October 1.

So, if a person books a stay in a luxury hotel with an average room rate of Rs 10,505, he will save Rs 1,050, or around 8%, under the new GST rate as he has to shell out a total of Rs 12,395 against Rs 13,446 under the existing tax regime.

The new rate will also be applicable to those who have already paid for bookings after October 1.

Typically, holidaymakers book hotel rooms in advance as tariffs are known to rocket during peak season in India, which begins in October and touches a high by the year-end.

One such vacationer, John Paul (name changed), has booked three rooms for a five-night stay in December at a luxurious Goa property. He shelled out Rs 2.6 lakh per room for five nights that included a 28% GST of Rs 57,540.

Days after his booking, the government slashed the GST and the 10-percentage-point reduction made a difference of Rs 20,550 per room to Paul’s bill.

The saving is equivalent to the price of a brand new Lenovo laptop.

Paul contacted the five-star chain for reimbursement of the balance GST amount and the hotel in an email said, “The difference of tax excess payments received will be used against extras consumed at the hotel.”

“If a customer has made part-payment while booking a room, then the adjustment will be done by the hotel at the time of final billing incorporating the revised GST rate. In case of full payment done by a customer in advance, the hotel will have to refund the balance amount to the customer. GST will be paid as applicable at the time of billing and not at the time of advance received,” said Pradeep Shetty, vice-president of Hotel & Restaurant Association of Western India (HRAWI).

Luxury hotels, which are twice as expensive to develop but command a premium pricing, account for 11% of the overall supply of 2.8 lakh rooms in India.

The GST rate reduction is likely to lead to customer savings of 5-8% on existing room rates across hotel segments, with luxury properties benefiting more, a recent Kotak Institutional Equities report said.

Interestingly, despite lowering of the GST on rooms priced at more than Rs 7,500 and also those priced between Rs 1,000 and Rs 7,500, industry executives said hotels in India continue to be the most taxed across the world.

Source: Times-Of-India

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Anti-profiteering in GST: Caught in litigation, extension in tenure may not be enough

Anti-profiteering in GST: Caught in litigation, extension in tenure may not be enough

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Anti-profiteering provisions have been in force for nearly two years and at the recent GST Council meeting the tenure of the National Anti-Profiteering Authority (NAA) has been extended for two more years, till November 2021. Although the key reason given for this extension was the large pendency of complaints (around 350) which still needs to be investigated, it is fair to say that the presumption is that GST benefits are still not being passed on to consumers. But is the extension of tenure all that is required to ensure compliance with these provisions?

There are also reports that the GST Council, along with the extension of the tenure of the NAA, has approved a new mechanism to check profiteering. Tax officers have been empowered to conduct anti-profiteering checks in their jurisdictions. This clearly signals that complaints and investigations on profiteering will increase and the NAA will be around for much longer than the recent two-year extension. A new penalty may also may be imposed if the profiteered amount is not surrendered within a prescribed time limit.

Given that anti-profiteering related investigations will increase and impose heavier fiscal penalties there is an urgent need to address three key issues:

Introduce an appellate mechanism, within the GST law, for appealing the orders of the NAA;
Broaden the membership of the NAA to include a judicial member; and
Define methodologies/frameworks for compliance.

This will ensure that the core objective of ensuring that benefit of GST is passed on to consumers, is achieved in an efficient and timely manner.

It is worth noting that when NAA was originally constituted in November 2017 for a period of two years, it was set up primarily as a deterrent to big businesses and hence envisioned that its actions would be restricted. This is far from reality and the actions of the NAA have been far more widespread and have impacted almost all sectors and all sizes of businesses.

Considering that there is no appellate mechanism prescribed under the GST laws against an order of the NAA, can it be assumed that the government had not expected challenges on such orders? Whatever may have been the thinking on this aspect, the legal view adopted is that the law does not provide a statutory mandate to appeal orders of the NAA before the Tribunal, High Court or the Supreme Court. Hence, the only recourse for taxpayers is to file a writ petition in the High Court.

Almost all orders of the NAA where profiteering has been alleged, are being challenged in various High Courts. In most cases the courts have stayed the orders and the litigation is in progress. With most NAA orders being embroiled in litigation, the key purpose of the existence of the NAA, which is to ensure that the GST benefit is passed on to the consumer, is yet to be achieved. An alternative form of recourse is required which should assist in the faster resolution of cases.

Some of the writ petitions have challenged the constitutional validity of anti-profiteering provisions. While this challenge is being deliberated by the courts, the government may be able to address some of the other concerns/issues that have been raised.

In the absence of a statutory appellate process, the decision of the High Courts on anti-profiteering matters, will very likely be sent back to the NAA for implementation. This may create a conflict, as the authority that has passed the original order will have to review the orders based on directions of the High Court and then pass a revised order. This is likely to give rise to further litigation. One option to address could be to induct a judicial member on the NAA to ensure that a legal view is also taken into consideration while deliberating on High Court orders. Another option may be to create a body within the NAA to review and implement the orders of the High Court. There may be other options as well and the government should explore all possible alternatives to address this issue. In all such cases, the focus of the NAA should be to resolve the matter, pass on the benefit to the consumer and not litigate further.

As it is likely that anti-profiteering related investigations will increase going forward, there is also an urgent need to introduce an appellate mechanism, within the GST law, for challenging the orders of the NAA. This will ensure that going forward, writ jurisdiction is not the only option for challenging orders of the NAA and may also result in faster resolution of cases.

One key and outstanding demand of tax payers is for a specific mechanism/methodology to calculate profiteering. This may minimise the subjectivity in the investigation process and therefore litigation. The NAA’s position has been, and remains, that a standard methodology cannot be prescribed for all sectors and hence none is being prescribed. This position needs to be revisited urgently, more so as the NAA now has the benefit of experience from over a hundred investigations. The contradictory positions being adopted in some orders has also added to the complexity of complying with the provisions. One option could be to reconstitute sector-specific committees, set up during GST implementation, which were headed by senior tax officers. These committees can provide guidance on prescribing methodology for compliance with the anti-profiteering provisions.

With the focus once again on initiatives for improving Ease of Doing Business in India, anti-profiteering related concerns of taxpayers do need to be addressed on a priority. The trust deficit between the business and tax administration on this subject needs to be reduced to ensure that the key purpose of the consumer benefiting by GST implementation, is served.

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Source: Economic-Times.
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Union budget: Centre urged to cut GST on service provided by CETPs

Union budget: Centre urged to cut GST on service provided by CETPs

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Textile dyeing units in Tirupur have urged the Union government to reduce GST on service provided by CETPs(common effluent treatment plants) from 12% to 5% in the coming budget.
The CETPs were meant for implementation of zero liquid discharge (ZLD) norm in the apparel industry as they would treat effluents sent from the  dyeing units and send recycled water to the dyeing units.

In a memorandum submitted to the Union finance minister Nirmala Sitharaman, Dyers Association of Tirupur president S Nagarajan said, “Considering the important role played by CETPs in environmental protection and water conservation, tax was exempted for their service in both occasions in 2005 and 2011 respectively. But when GST was introduced, 18% tax was imposed on the service, and it was later reduced to 12% but we have been insisting the government to make it 5%.”

He said, “12% service tax levy on members of CETPs are non-refundable. Because of this, the processing cost in the dyeing units was increased by 3% to 4%, and subsequently increased the cost of garments manufactured in Tirupur, in comparing to countries like Bangladesh, Vietnam, Sri Lanka and Pakistan, where there is no ZLD system in place.”

XaTTaX: Cloud and On-Premises Based GST Filing Software For India

Source: Times-of-India.
GST
Telangana nets Rs 36,000 crore revenue through GST, 4% of India’s revenue

Telangana nets Rs 36,000 crore revenue through GST, 4% of India’s revenue

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Telangana notched up a high Rs 36,212 crore Goods and Services Tax (GST) revenue in 2018-19 financial year, accruing 4% of overall GST revenues
in the country. In another high, the monthly average revenue has grown by 28% in Hyderabad zone which is the highest in the country when compared to the previous financial year.

Officials said the taxpayers’ base of Telangana is around 3% of the country. As against a target of Rs 19,420 crore, central GST officials realised Rs 18,565 crore in entire Telangana. Hyderabad Zone has consistently performed well in 2018-19 in the recovery of pending tax arrears amounting to Rs 175 crore. Hyderabad zone stood first in the country in terms of arrears recovery for the fiscal year.

GST Hyderabad zone officials detected evasion of Rs 458 crore, excluding fake invoice cases, and recovered Rs 272 crore out of it. In fake invoice cases involving 36 companies till May 31, 2019, an amount of Rs 277 crore has been detected, of which Rs 34 crore has been recovered in Hyderabad zone. Fifteen persons have been arrested in connection with GST anti-evasion cases.

GST principal commissioner, Hyderabad, M Srinivas said the Hyderabad zone has also been actively pursuing the cases against those who fail to pass on GST benefits to consumers. “One of the highlights is the anti-profiteering wing acted against theatres to ensure that the benefit of GST rate cut is passed on to the moviegoers,” he said.

Source: Times-of -India.

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Documents & compliances that every exporter needs to keep in mind

Documents & compliances that every exporter needs to keep in mind

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Exports have been granted a beneficial treatment even under the Goods and Services Tax (GST) legislation. In terms of the GST legislation, exports are ‘zero rated supplies’ i.e. supplies on which the GST rate is fixed as ‘zero’. While exporting goods/ services, an exporter has the following options:

  • Export goods/ services or both under a bond or letter of undertaking (LUT) without payment of tax
  • Export goods/ services or both with payment of GST.

For Export of Goods

In terms of the GST legislation, export of ‘goods’ means taking goods out of India to a place outside India. An exporter of goods is required to undertake export of goods in terms of export procedure as prescribed under the Customs law and is required to ensure that following documentation and compliances are undertaken :

  • Obtain an Import Export Code (IEC);
  • Obtain an Import Export Code (IEC);
  • Furnish a LUT or Bond in case exports are intended to be made without payment of taxes;
  • Ensure that a robust Agreement/ Purchase Order is entered into with the recipient of goods for export of goods;
  • Issue a tax invoice, typically containing the following details:
  • Endorsement stating “supply meant for export on payment of integrated tax” or “supply meant for export without payment of integrated tax”;
  • Name, address and GSTIN of the supplier;
  • Invoice No. and date;
  • Name and address of the recipient, address of delivery and country destination;
  • HSN code of the goods along with description;
  • Quantity of goods and unit;
  • The total value of goods; and
  • Signature of the supplier of the authorised signatory. File the shipping bill. It should be ensured that accurate details of the tax invoice are mentioned in the shipping bill;
  • Details of export invoices are also required to be accurately furnished in the GST returns.

Further, exporters of notified goods to notified markets are also entitled for Duty Credit Scrip under the Merchandise Exports from India Scheme at notified rates (2% to 7%) on realized Free on Board (‘FOB’) value of exports in free foreign exchange or on FOB value of exports as given in the Shipping Bills in freely convertible foreign currencies, whichever is less. In addition, the benefit of refund under GST may also be explored.

For Export of Services

  1. In terms of the GST law services qualify as ‘export’ where:
  2. Supplier of service is located in India;
  3. Recipient of service is located outside India;
  4. Place of Supply (‘POS’) of service is outside India;
    Payment for such service has been received by the supplier of service in convertible foreign exchange; and
  5. Supplier of service and the recipient of service are not merely establishments of a distinct person

For cross-border transactions, unless specifically mentioned the default POS for services is the location of the recipient of service i.e. outside India. For specified services, POS is as follows:

  • For services in relation to immovable property (eg. renting, construction, designing etc.) – POS is the location of such immovable property;
  • For performance based services (eg. training programs, repair maintenance of goods or tour and travel) – POS is the place where such services are performed;
  • For events – POS is where the event is conducted
    It is relevant to note that in case of points a, b and c above in case the POS is in India, GST would be attracted even if the recipient of service is located outside India.

Another specified service is that where the supplier acts as an ‘intermediary’/ agent. POS in such cases is the location of the ‘intermediary’/ agent i.e. in India, accordingly same would also be eligible to GST. The concept of intermediary has opened a Pandoras box where most of the captive units exporting services have to face the wrath of litigations.

Accordingly, a service exporter should ensure documentation and compliance with respect to the following:

  1. Furnish a LUT or Bond in case exports are intended to be made without payment of taxes
  2. Ensure that a robust Agreement/ Purchase Order is entered into with the recipient of services for export of services;
  3. Issue a tax invoice typically containing the following details:
  4. Endorsement stating “supply meant for export on payment of integrated tax ” or “supply meant for export without payment of integrated tax”;
  5. Name, address and GSTIN of the supplier
  6. Invoice No. and date;
  7. Name and address of the recipient;
  8. HSN code of the services along with description
  9. The total value of services
  10. Signature of the supplier of the authorised signatory.
    It must be ensured that the payments are received in convertible foreign exchange within the prescribed time period (typically one year from the date of export), else GST would be payable on the transaction. Further, robust documentation to prove the receipt of such payment (such as Foreign Inward Remittance Certificate, Bank Realisation Certificate etc.) should be maintained.

Further, exporters of notified services are also entitled for Duty Credit Scrip under the Services Exports from India Scheme (‘SEIS’) at a prescribed percentage (3%/5%/7%) of Net Foreign Exchange [i.e. Gross Earnings of Foreign Exchange minus Total expenses / payment / remittances of Foreign Exchange]. In addition, the benefit of refund under GST may also be explored. Further, although IEC is not a pre-condition for service exporters, however IEC is a pre-condition in case the exporter intends to claim benefit under SEIS.

It is therefore recommended that an exporter of goods/ services should ensure that complete and robust trail of documentation should be maintained to ensure that benefit of tax incentives granted by the Government for exports from India can be claimed.


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Source: Economic Times.
(The writer, is Director, Nangia Advisors (Andersen Global). With inputs from Arjun Sobti.)
GST excess
In relief to buyers, realtor told to refund ‘excess’ GST

In relief to buyers, realtor told to refund ‘excess’ GST

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In what will signal a relief to home buyers across real estate projects, the National Anti-Profiteering Authority (NAPA) has ordered Puri Constructions to refund “excess” GST collected from the buyers, and dismissed the builder’s plea that the benefit could only be calculated on completion of the project. Several builders have not been passing on the benefit on tax credit on inputs such as cement, steel, paints and sanitary-ware, arguing that it will be done at the time of possession.

NAPA has also held that the withdrawal of a complaint would not stop the directorate general of anti-profiteering from conducting probes as there is no provision in the GST Act to withdraw the complaint once it has been made. “Such rulings, should help homebuyer’s understand that under GST looking at only the rate charged by developer, does not give the complete and clear picture. What is equally important is the benefit accrued to the developer on account of reduction in the taxes paid by him on his purchases. One needs to look at both the GST rate and the input tax credit to understand the overall impact on the price,” said Harpreet Singh, partner at consulting firm KPMG.

The case involved Pallavi Gulati and Abhimanyu Gulati, who had purchased a flat in the Anand Vilas project in Faridabad before GST was launched in July 2017. Puri Constructions argued that the buyer had withdrawn the complaint, which showed that he was satisfied with the explanation given. It contended that, ITC which had been taken into account for computation of the profiteering amount was based on all the credit availed by him, assuming that he would be able to sell all the flats before completion.

VIP distributor rapped for not passing on GST benefits:

The National Anti-Profiteering Authority has asked VTWO Ventures, a distributor of VIP luggage, to deposit the excess GST charged by it as it did not pass on the benefit of a reduction in rates from 28% to 18%.
The agency held that the distributor raised the base price of the product to neutralise the effect of reduction in GST rates. It also said commented that since the entity had issued incorrect invoices, they were also liable for penalty.


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Source: Times of india.
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GST rate cuts now benefitting consumers more than before: Survey

GST rate cuts now benefitting consumers more than before: Survey

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Consumers are of the view that they are benefitting from the Goods and Services Tax (GST) rate cuts now more than before as businesses and traders increasingly lower prices to the extent of the reduced tax rates, an online survey of 16,000 people has found.

The survey held by an online community of consumers Local Circles has shown a steady improvement in customer experience between June 2018 and April 2019 on getting the benefit of tax cuts intended for them. It is often the customer perception that leads them to complain against alleged profiteering by companies by way of not reducing the prices in line with the tax cuts. The trend shown by the survey indicates that prices of household items may soften further.

The survey said 30% people believed in April that they are getting the benefit of tax cuts on items like shampoo, cosmetics, and groceries, up from 15% in June 2018 and 27% in January 2019. Federal indirect tax body, the GST Council, had made large-scale tax cuts in the on items such as shampoo, cosmetics, hair oil and groceries from 28% to 18% in November 2017. It had also reduced tax rates applicable to restaurants from 18% to 5% in November 2017. The survey showed that one in three people believe in April that they are benefitting from the tax cuts on restaurants, up from about one in four in June 2018.

The survey also said that 29% of people now believe that companies are passing on the benefit of the July 2018 tax cuts on home appliances to consumers compared to 20% in October 2018. In July 2018, the Council had reduced tax rate from 28% to 18% on refrigerators, washing machines, small televisions, and vacuum cleaners. While there is an improvement in customer experience, there is still a long way to go in ensuring full benefits reach consumers, the survey indicated. About 40% of people still believe they are not getting the benefit of tax cut on home appliances, compared to 47% in October 2018.

The National Anti-profiteering Authority (NAA) set up to ensure that businesses pass on the tax cut relief to consumers has already asked many companies in the FMCG, restaurant and trading business to pay back the alleged profiteered amounts to consumers or to deposit in a consumer welfare fund.

The GST Council chaired by the union finance minister and having state ministers as members announced the tax cuts as part of a rationalization of rates after India moved to the more transparent new indirect tax regime in July 2017. In January 2019, the Council slashed tax rates on 22 items, of which seven—including digital cameras, TVs with screen size up to 32 inches and power banks–were from the highest slab of 28%.

XaTTaX: Cloud and On-Premises Based GST Filing Software For India

Source: Live Mint.
National Anti Profiteering Authority (NAA)
White goods firms under NAA lens for pocketing GST rate cuts

White goods firms under NAA lens for pocketing GST rate cuts

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After imposing fines on restaurants, fast moving consumer goods (FMCG) and pharma companies for not passing the benefits of lower goods and services tax (GST) to consumers, the NAA authorities have turned their attention to makers of home appliances or white goods.

The anti-profit authority is examining whether companies pocketed profits after the government slashed GST rates on washing machines, TVs and other electronic products. While most large consumer durable companies are under the lens, Kolkata based IFBNSE 0.80 % Appliances, which manufactures high-end washing machines and a handful of other products, is the first company that has received notices, said two people with direct knowledge of the matter.

IFB, a BSE-listed company, was asked to furnish details of cost and selling prices on its washing machines a few months ago. “The company did not respond to the first letter and so a second letter was written by NAA (National Anti-profiteering Authority). The company was asked to provide data around cost and selling prices of products before and after GST,” said a person close to the development.

An email sent to IFB on Saturday did not elicit any response. The person added that IFB could face a fine in the coming weeks. Other companies, too, are under scrutiny and the first set of letters is either issued or will be issued in the coming weeks. Industry trackers say that NAA’s focus seems to be on goods that could stoke inflation. One of the impacts of implementing GST globally is that it leads to higher inflation.

“The anti-profiteering authority is scrutinizing every sector that directly impacts inflation and so white goods companies are currently under the lens. However, the question remains that in the absence of any prescribed methodology, it becomes really difficult for a company to compute the quantum of profiteering and pass on the GST rate cut benefits,” said Abhishek A Rastogi, partner at Khaitan & Co.

Insiders point out that for most consumer durables companies, it is extremely tough to even calculate precise price cuts before and after GST implementation. This is mainly because most companies have separate contracts with different retail outlets.


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Source: Economic Times
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FinMin notifies April 1 as date for availing increased GST exemption limit, composition scheme

FinMin notifies April 1 as date for availing increased GST exemption limit, composition scheme

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The government Thursday notified April 1 as the date for the implementation of doubling of GST exemption limit to Rs 40 lakh, which will benefit small and medium enterprises.Besides, the effective date for availing higher turnover cap of Rs 1.5 crore for availing composition scheme by traders has also been fixed as April 1.

Also, service providers and suppliers of both goods and services with a turnover of up to Rs 50 lakh would be eligible to opt for the GST composition scheme and pay a tax of 6 per cent from the beginning of next fiscal.

These decisions were taken by the GST Council, chaired by Finance Minister Arun Jaitley and comprising his state counterparts, on January 10. These decisions would come into effect from April 1, a finance ministry statement said.

“There would be two threshold limits for exemption from registration and payment of GST for the Suppliers of Goods i.e. Rs 40 lakhs and Rs 20 lakhs. States would have an option to decide about one of the limits.

“The Threshold for Registration for service providers would continue to be Rs 20 lakhs and in case of Special Category States Rs 10 lakhs,” it said.

Also the GST Composition Scheme, under which small traders and businesses pay a 1 per cent tax based on turnover, can be availed by businesses with a turnover of Rs 1.5 crore, against the earlier Rs 1 crore, with effect from April 1.

EY India Tax Partner Abhishek Jain said implementation of these proposals with specifically the higher turnover limit for composition schemes, would aid enhancing the ease of doing business for MSMEs.

XaTTaX: Cloud and On-Premises Based GST Filing Software For India

Source: Money Control
GAS
Qatar seeks inclusion of natural gas in GST

Qatar seeks inclusion of natural gas in GST

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India’s largest LNG supplier Qatar on February 10 urged the central government to include natural gas in GST to help create demand for the environment-friendly fuel and raise its share in the country’s energy basket. Speaking at Petrotech conference here, Qatar Gas CEO Khalid Bin Khalifa Al-Thani said India is a very important market for Qatar.

“If there is a change in demand worldwide we will see it in India especially in fossil fuel,” he said.

Qatar supplies 8.5 million tonnes a year of liquefied natural gas to India. It is the country’s single largest source of imported gas, supplying about 40 percent of all overseas shipments reaching India.

He said the country needs to build infrastructure so that clean fuel can reach all corners.

“LNG should be considered to get full benefits of GST,” he said. “We would be working closely with the government”.

Qatar is the second big foreign investor to seek GST on petroleum products. In October last year, Russian oil firm Rosneft, the biggest foreign investor in India’s energy sector, had criticized the country’s taxation policy, saying it was a major hurdle in its expansion plans.

Rosneft and its partners had in August 2017 completed a USD 12.9 billion acquisition of Essar Oil to enter the world’s fastest-growing energy market. The company will, however, have to pay a 20 percent withholding tax even after paying corporate tax and dividend, Rosneft’s first vice-president for economics and finance Pavel Fedorov had said.

Fedorov said the company was also not able to claim a credit of tax it pays on inputs in its Vadinar refinery in Gujarat. While the Goods and Services Tax (GST), which unified over a dozen central and state levies, came into effect from 1 July 2017, five petrol goods — crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) — were kept out of it.

This means the tax, a user of natural gas pay on inputs cannot be offset by taxes paid at consumption end. State-owned gas utility GAIL India Ltd Chairman B C Tripathi, speaking at the same session at Petrotech, too favored bringing natural gas under the ambit of GST, saying it is a low hanging fruit.

Also, power plants must start using natural gas as it would be difficult to achieve the target of raising the share of natural gas in the energy basket to 15 percent by 2030 from the current 6.2 percent.

Al-Thani said natural gas demand worldwide is expected to grow at the rate of 1.5 percent through 2035 and LNG demand is projected to grow by 4 percent to 600 million tonnes from 290 million tonnes in 2017.

Qatar, he said, will raise LNG production capacity to 110 million tonnes by 2023 from the current 77 million tonnes.


XaTTaX GST e-filing software – Simple, Secure, Reliable

Source: Money Control.