IGST ACT, 2016 – THE INTEGRATED GOODS AND SERVICES TAX ACT
The revised drafts of three Goods and Service Tax laws have been released after incorporating suggestions from stakeholders, the government said on Saturday 26/11/2016. Below is the
Pre-Revised IGST LAW:-
THE INTEGRATED GOODS AND SERVICES TAX ACT, 2016
CHAPTER- I
PRELIMINARY
1. Short title, extent and commencement
2. Definitions
CHAPTER– II
PRINCIPLES FOR DETERMINING SUPPLY OF GOODS AND/OR SERVICES IN THE COURSE OF INTER-STATE TRADE OR COMMERCE
3. Supplies of goods and/or services in the course of inter-State trade or commerce
CHAPTER– III
LEVY AND COLLECTION OF TAX
4. Levy and collection of Integrated Goods and Services Tax
CHAPTER– IV
PLACE OF SUPPLY OF GOODS AND/OR SERVICES
5. Place of supply of goods
6. Place of supply of services
CHAPTER–V
PAYMENT OF TAX
7. Payment of tax, interest, penalty and other amounts
CHAPTER– VI
INPUT TAX CREDIT
8. Claim of input tax credit and provisional acceptance, matching, reversal and reclaim thereof
9. Transfer of input tax credit
CHAPTER– VII
APPORTIONMENT OF TAX AND SETTLEMENT OF FUNDS
10. Apportionment of tax collected under the Act and settlement of funds
CHAPTER – VIII
SETTLEMENT OF CASES
11. Definitions
12. Constitution of National Goods and Services Tax Settlement Commission
13. Jurisdiction and powers of Settlement Commission
14. Decisions to be by majority
15. Application for settlement of cases
16. Procedure for settlement on receipt of an application under section 15
17. Power of Settlement Commission to order provisional attachment to protect revenue
18. Power of Settlement Commission to reopen completed proceedings
19. Inspection, etc. of reports
20. Power of Settlement Commission to grant immunity from prosecution and penalty
21. Power of Settlement Commission to send a case back to the IGST officer
22. Order of settlement to be conclusive
23. Bar on subsequent application for settlement in certain cases
24. Rectification of mistakes by Settlement Commission
25. Powers of Settlement Commission
26. Procedure of Settlement Commission
CHAPTER– IX
MISCELLANEOUS
27. Application of certain provisions of the CGST Act, 2016
28. Power to make rules
29. Interest on delayed payment of tax
30. Tax wrongfully collected and deposited with the Central or a State Government
CHAPTER– X
TRANSITIONAL PROVISIONS
CHAPTER– XI
ADMINISTRATION
32. Classes of officers under the Integrated Goods and Services Tax Act, 2016
33. Appointment of officers under the Integrated Goods and Services Tax Act, 2016