GST Yathra- 10- Levy and Collection of IGST

Section 1 of the Integrated Goods and Services Act, 2017 provides that the act extends to the whole of India including the state of Jammu and Kashmir

Section 5

Sub-section-1

·      IGST shall be levied on all inter-state supplies, except alcohol and liquor

·      The taxable value shall be determined as per section 15 of the CGST Act.

·      The maximum rate of IGST shall be 40%

·      IGST shall be levied on imported goods.

·      Value of the Imported goods shall be determined as per Section 3 of Customs tariff act,1975

·      IGST on the imported goods shall be charged at the point determined as per Section 15 of Customs Act, 1962
·    IGST levied shall be in addition to Basic customs duty.

Sub-section-2

·      IGST on the following items shall be levied from a date to be notified

o  Petroleum crude

o  High speed diesel

o  Motor spirit (commonly known as petrol)

o  Natural gas and

o  Aviation turbine fuel

Sub-section-3

·      Tax on certain specific categories of supplies shall be paid on reverse charge basis

Sub-section-4

·      IGST on supplies made by a unregistered person to a registered person shall be paid on reverse charge basis

Sub-section-5

·      IGST on certain services notified shall be paid by the electronic commerce operator

·      If the electronic commerce operator does not have a physical presence in the taxable territory, any person representing such electronic commerce operator shall pay tax.

·      If there is no such representative, e-commerce operator shall appoint a person to pay tax.

The following services have been notified for Sub-section-5 purpose:

(a) services by way of transportation of passengers by a radio-taxi, motorcab, maxicab and motor cycle;

(b) services by way of providing accommodation in hotels, inns, guest houses, clubs, campsites or other commercial places meant for residential or lodging purposes, except where the person supplying such service through electronic commerce operator is liable for registration under section 20(v) of the IGST Act read with section 22(1) of the CGST Act.

(iii) services by way of house-keeping, such as plumbing, carpentering etc, except where the person supplying such service through electronic commerce operator is liable for registration under sub-section (1) of section 22 of the said Central Goods and Services Tax Act

IGST Rates notified

·      For  goods

5%, 12%, 18%, 28%, 3% and 0.25%

·      For services

5%, 12%, 18% and 28%.