TaxTMI 
TaxTMI 
The Karnataka Pradesh Goods and Services Tax (Third Amendment) Rules, 2019.
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....anation: - For the purpose of this sub-rule, it is hereby clarified that the "value of assets" means the value of the entire assets of the business, whether or not input tax credit has been availed thereon.". 3. Amendment of rule 42. In rule 42, of the said rules, (1) in sub rule (1),- (a) in clause (f), the following Explanation shall be inserted, namely:- "Explanation.- For the purpose of this clause, it is hereby clarified that in case of supply of services covered by clause (b) of paragraph 5 of Schedule II of the said Act, value of T4 shall be zero during the construction phase because inputs and input services will be commonly used for construction of apartments booked on or before the date of issuance of completion certificate or first occupation of the project, whichever is earlier, and those which are not booked by the said date." (b) in clause (g), after the letter and figure "FORM GSTR-2", the words, letters and figure "and at summary level in FORM GSTR-3B" shall be inserted; (c) in clause (h), for the brackets and letter "(g)", the brackets and letter "(f)" shall be substituted; (d) in clause (i),- (i) before the proviso, the....
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.... bracket "Except incase of supply of services covered by clause (b) of paragraph 5 of the Schedule II of the Act, the input tax credit" shall be substituted; (3) in the clause (a) of sub-rule (2), for the words "added to the output tax liability of the registered person", the words, letters and figures "reversed by the registered person in FORM GSTR-3B or through FORM DRC-03" shall be substituted; (4) after sub-rule (2), the following sub-rules shall be inserted, namely:- "(3) In case of supply of services covered by clause (b) of paragraph 5 of the Schedule II of the Act, the input tax determined under sub-rule (1) shall be calculated finally, for each ongoing project or project which commences on or after 1st April, 2019, which did not undergo or did not require transition of input tax credit consequent to change of rates of tax on 1st April, 2019 in accordance with notification No. (11/2017) No. FD 48 CSL 2017 dated the 29^th June, 2017, published in Karnataka Gazette, Extraordinary, Part-IVA, No. 601, dated the 29^th June, 2017, as amended for the entire period from the commencement of the project or 1st July, 2017, whichever is later, to the ....
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....dance with notification No. (11/2017) No. FD 48 CSL 2017 dated the 29th June, 2017, published in Karnataka Gazette, Extraordinary, Part-IVA, No. 601, dated the 29th June, 2017, as amended for the entire period from the commencement of the project or 1st July, 2017, whichever is later, to the completion or first occupation of the project, whichever is earlier, before the due date for furnishing of the return for the month of September following the end of financial year in which the completion certificate is issued or first occupation takes place of the project, in the following manner. (a) The aggregate amount of common credit on commercial portion in the project (C3aggregate_comm) shall be calculated as under, C3aggregate_comm =[aggregate of amounts of C3 determined under sub- rule (1) for the tax periods starting from 1st July, 2017 to 31st March, 2019, x (AC / AT)] + [ aggregate of amounts of C3 determined under sub- rule (1) for the tax periods starting from 1st April, 2019 to the date of completion or first occupation of the project, whichever is earlier] Where, - AC = total carpet area of the commercial apartments in the proj....
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....FORM GSTR-2", the words, letters and figure "and FORM GSTR-3B" shall be inserted; (b) in clause (b), after the letters and figure "FORM GSTR-2", the words, letters and figures "and FORM GSTR-3B" shall be inserted; (c) after clause (b), the following explanation shall be inserted, namely: - "Explanation: For the purpose of this clause, it is hereby clarified that in case of supply of services covered by clause (b) of paragraph 5 of the Schedule II of the said Act, the amount of input tax in respect of capital goods used or intended to be used exclusively for effecting supplies other than exempted supplies but including zero rated supplies, shall be zero during the construction phase because capital goods will be commonly used for construction of apartments booked on or before the date of issuance of completion certificate or first occupation of the project, whichever is earlier, and those which are not booked by the said date."; (d) in clause (g),- (A) after the letter and words "'F' is the total turnover", the words "in the State" shall be inserted; (B) before the proviso, the following proviso shall be i....
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.... whichever is later, to the completion or first occupation of the project, whichever is earlier, for each project separately, before the due date for furnishing of the return for the month of September following the end of financial year in which the completion certificate is issued or first occupation takes place of the project, as under: Te^final= [(E1 + E2 + E3) /F] x Tc^final, Where,- E1= aggregate carpet area of the apartments, construction of which is exempt from tax E2= aggregate carpet area of the apartments, supply of which is partly exempt and partly taxable, consequent to change of rates of tax on 1st April, 2019, which shall be calculated as under, - E2= [Carpet area of such apartments] x [V1/ (V1+V2)],- Where,- V1 is the total value of supply of such apartments which was exempt from tax; and V2 is the total value of supply of such apartments which was taxable E3 = aggregate carpet area of the apartments, construction of which is not exempt from tax, but have not been booked till the date of issuance of completion certificate or first occupation of the project, whichever ....
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....n 2: For the purposes of rule 42 and this rule,- (i) the term "apartment" shall have the same meaning as assigned to it in clause (e) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016); (ii) the term "project" shall mean a real estate project or a residential real estate project; (iii) the term "Real Estate Project (REP)" shall have the same meaning as assigned to it in in clause (zn) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016); (iv) the term "Residential Real Estate Project (RREP)" shall mean a REP in which the carpet area of the commercial apartments is not more than 15 per cent. of the total carpet area of all the apartments in the REP; (v) the term "promoter" shall have the same meaning as assigned to it in in clause (zk) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (Central Act 16 of 2016); (vi) "Residential apartment" shall mean an apartment intended for residential use as declared to the Real Estate Regulatory Authority or to competent authority; (vii) "Commercial apartment" shall mean an apartment other than a....
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....d the amount remaining, if any, may be utilised towards the payment of Central tax and State tax or Union territory tax, as the case may be, in any order: Provided that the input tax credit on account of Central tax, State tax or Union territory tax shall be utilised towards payment of integrated tax, Central tax, State tax or Union territory tax, as the case may be, only after the input tax credit available on account of integrated tax has first been utilised fully.". 6. Substitution of rule 100. - For rule 100 of the said rules, the following rule shall be substituted, namely:- "100. Assessment in certain cases.-(1) The order of assessment made under sub-section (1) of section 62 shall be issued in FORM GST ASMT-13 and a summary thereof shall be uploaded electronically in FORM GST DRC-07. (2) The proper officer shall issue a notice to a taxable person in accordance with the provisions of section 63 in FORM GST ASMT-14 containing the grounds on which the assessment is proposed to be made on best judgment basis and shall also serve a summary thereof electronically in FORM GST DRC-01, and after allowing a time of fifte....
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....ed to in sub-section (1) of section 129 within fourteen days of detention or seizure of the goods and conveyance, he shall intimate the proper officer of such payment in FORM GST DRC-03 and the proper officer shall issue an order in FORM GST DRC-05 concluding the proceedings in respect of the said notice. (4) The representation referred to in sub-section (9) of section 73 or sub-section (9) of section 74 or sub-section (3) of section 76 or the reply to any notice issued under any section whose summary has been uploaded electronically in FORM GST DRC-01 under sub-rule (1) shall be furnished in FORM GST DRC-06. (5) A summary of the order issued under section 52 or section 62 or section 63 or section 64 or section 73 or section 74 or section 75 or section 76 or section 122 or section 123 or section 124 or section 125 or section 127 or section 129 or section 130 shall be uploaded electronically in FORM GST DRC-07, specifying therein the amount of tax, interest and penalty payable by the person chargeable with tax. (6) The order referred to in sub-rule (5) shall be treated as the notice for recovery. (7) Where a....
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.... 3 4 5 6 7 8 9 10 11 12 Total Signature Name Designation Jurisdiction Address Note - 1. Only applicable fields may be filled up. 2. Column nos. 2, 3, 4 and 5 of the above Table i.e. tax rate, turnover and tax period are not mandatory. 3. Place of Supply (POS) details shall be required only if the demand is created under the IGST Act. 10. In the said rules, for FORM GST DRC-07, the following FORM shall be substituted, namely:- FORM GST DRC-07 [See rule 100(1), 100(2), 100(3) & 142(5)] Summary of the order Reference No. - Date - 1. Details of order : (a) Order No. : (b) Order date : (c) Financial year : (d) Tax period: From --- To -------- 2. Issues involved : 3. Description of goods / services (if applicable): Sr. No. HSN code Description 4. Section(s) of the Ac....
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....ct POS (Place of Supply) Tax Interest Penalty Others Total From To 1 2 3 4 5 6 7 8 9 10 11 12 Total You are hereby directed to make the payment by failing which proceedings shall be initiated against you to recover the outstanding dues. Signature Name Designation Jurisdiction Address To _______________ (GSTIN/ID) _______________ Name _______________ (Address ) Note - 1. Only applicable fields may be filled up. 2. Column nos. 2, 3, 4 and 5 of the Table at serial no. 7 i.e. tax rate, turnover and tax period are not mandatory. 3. Place of Supply (POS) details shall be required only if the demand is created under the IGST Act. 4. Demand table at serial no. 7 shall not be filled up if an order issued under section 129 is being withdrawn. 12. In the said rules, for FORM GST ASMT-13, the following FORM shall be substituted, namely:- FORM GST....
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....: Date: To _______________ (GSTIN/ID) _______________ Name _______________ (Address ) Tax Period : F.Y. : SCN reference no. : Date : Act/ Rules Provisions: Center's Assessment order under section 63 Preamble - << standard >> The notice referred to above was issued to you to explain the reasons for continuing to conduct business as an un-registered person, despite being liable to be registered under the Act. OR The notice referred to above was issued to you to explain the reasons as to why you should not pay tax for the period ............. as your registration has been cancelled under sub-section (2) of section 29 with effect from------------ Whereas, no reply was filed by you or your reply was duly considered during proceedings held on --------- date(s). On the basis of information available with the department / record produced during proceedings, the amount assessed and payable by you is as under: Introduction : Submissions, if any : Conclusion (to drop proceedings or to create demand) : Amount assessed and payable : (Amount in Rs.) Sr. No. Tax rate Turnover Tax Period Act POS (Place of....