Scribd
Upload
8 views

GST Assignment

Uploaded by

rahullal11122
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
8 views

GST Assignment

Uploaded by

rahullal11122
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

1.

Role of a GST Practitioner

A GST Practitioner is a tax professional authorized to assist taxpayers in fulfilling their


GST-related responsibilities. The role is outlined under the Goods and Services Tax (GST)
Act and facilitates easier compliance for businesses and individuals. A GST Practitioner must
be registered under Section 48 of the CGST Act and perform specific functions on behalf of
taxpayers.

Key Functions of a GST Practitioner:

1. Filing Returns: One of the main responsibilities is assisting businesses in filing monthly,
quarterly, and annual GST returns (GSTR-1, GSTR-3B, GSTR-9, etc.).
2. Tax Payments: They help calculate tax liabilities, ensure the correct tax payments, and file
challans to deposit taxes with the government.
3. Claiming Refunds: Practitioners assist businesses in claiming GST refunds in cases of excess
payments, exports, or input tax credit accumulation.
4. Application for Registration: GST Practitioners help in applying for new GST registrations or
modifying existing registration details.
5. Appeals and Representations: They can represent their clients before tax authorities and
assist in the preparation of responses to notices and assessments.
6. Input Tax Credit (ITC) Assistance: Ensuring correct ITC claims by reviewing tax invoices and
verifying if all applicable conditions for claiming ITC are met.

Qualifications and Registration:

To become a GST Practitioner, one must possess qualifications such as a degree in


commerce, law, banking, or management, or be a Chartered Accountant (CA), Company
Secretary (CS), or Cost Management Accountant (CMA). Registration is done through the
GST portal by filing Form GST PCT-01.

2. Exemptions under GST

GST Exemptions refer to goods and services that are not subject to the Goods and Services
Tax. These exemptions are meant to reduce the tax burden on certain essential goods and
services and promote social welfare.

Types of GST Exemptions:

1. Basic Goods and Services: Certain essential items like fresh fruits, vegetables, milk, curd,
grains, and unprocessed food items are exempt from GST. This aims to keep basic necessities
affordable for the masses.
2. Educational Services: Services provided by educational institutions (up to higher secondary
level) are exempt, including transportation, catering, and admission services.
3. Healthcare Services: Health-related services such as those provided by hospitals, clinics, and
medical professionals are exempt from GST, making medical treatments more accessible.
4. Agricultural Services: Services directly related to agricultural operations, such as plowing,
harvesting, and storage, are exempt to support the farming sector.
5. Charitable Activities: Registered charitable organizations providing services for the benefit
of the public, such as the advancement of education or relief to the poor, are GST exempt.
6. Exports: Exports are classified as zero-rated, which means GST is not levied on them, and
businesses can claim refunds on the input taxes paid.

Conditions for Exemption:

The exemptions are subject to certain conditions. For example, the exemption for healthcare
applies only to non-cosmetic procedures. Additionally, some goods and services are exempt
only when provided below a certain threshold.

3. What is Job Work?

Job Work refers to processing or working on goods belonging to another registered taxpayer.
In GST, the principal sends goods to the job worker for processing, assembly, or treatment.
Job work is a key practice in manufacturing industries, where specialized tasks like painting,
engraving, or assembling are outsourced.

Characteristics of Job Work:

1. Principal-Owned Goods: The goods belong to the principal (owner of the goods) and are
only sent for processing or value addition.
2. GST on Job Work: Job workers typically charge GST on their service, but the tax can be
claimed back as Input Tax Credit by the principal.
3. Return of Goods: Once the job worker completes the task, the goods are returned to the
principal or sent to a third party on the principal's instructions.
4. Goods Sent without GST: Under GST law, the goods sent to the job worker do not attract
GST as long as they are returned within one or three years (for capital goods). This ensures
that the principal does not have to pay tax twice—once when sending the goods and again
when receiving them back.

Legal Provisions for Job Work:

Job work is governed by Section 143 of the CGST Act. The principal can send goods to the
job worker without paying GST under an "intimation" to the tax authorities. The goods must
be returned within stipulated timeframes to avoid tax liability.

Example:

A textile manufacturer may send fabrics to a job worker for dyeing. The job worker dyes the
fabric and sends it back to the manufacturer, who then uses it for further production or sale.

You might also like