Ministry of Finance has Released Draft Model GST Law

The Ministry of Finance, Govt. of India has uploaded draft Model GST law on in its website www. finmin. nic. in. It may be noted that GST Constitutional 122nd amendment bill 2014 has already passed by Lok Sabha and stuck in Rajya Sabha. The draft Model GST Law has been submitted by Empowered Committee of State Finance Ministers. The draft Model GST Law have following contents which are available for download:

GOODS AND SERVICES TAX ACT, 2016
CHAPTER – I: PRELIMINARY

CHAPTER– II: ADMINISTRATION

CHAPTER– III: LEVY OF, AND EXEMPTION FROM, TAX

CHAPTER- IV: TIME AND VALUE OF SUPPLY

CHAPTER– V: INPUT TAX CREDIT

CHAPTER– VI: REGISTRATION

CHAPTER – VII: TAX INVOICE, CREDIT AND DEBIT NOTES

CHAPTER– VIII: RETURNS

CHAPTER– IX: PAYMENT OF TAX

CHAPTER– IXA: TRANSFER OF INPUT TAX CREDIT

CHAPTER-X: REFUNDS

CHAPTER– XI: ACCOUNTS AND RECORDS

CHAPTER– XIA: JOB WORK

CHAPTER– XIB: ELECTRONIC COMMERCE

CHAPTER– XII: ASSESSMENT

CHAPTER– XIII: AUDIT

CHAPTER– XIV: DEMANDS AND RECOVERY

CHAPTER– XV: INSPECTION, SEARCH, SEIZURE AND ARREST

CHAPTER– XVI: OFFENCES AND PENALTIES

CHAPTER– XVII: PROSECUTION AND COMPOUNDING OF OFFENCES

CHAPTER–XVIII: APPEALS

CHAPTER– XVIII: APPEALS AND REVISION

CHAPTER– XIX :ADVANCE RULING

CHAPTER– XX: SETTLEMENT OF CASES

CHAPTER– XXI :PRESUMPTION AS TO DOCUMENTS

CHAPTER- XXII :LIABILITY TO PAY IN CERTAIN CASES

CHAPTER– XXIII : MISCELLANEOUS PROVISIONS

CHAPTER– XXIV: REPEAL AND SAVING

CHAPTER– XXV: TRANSITIONAL PROVISIONS

SCHEDULES

RULES: GST Valuation (Determination of the Value of supply of Goods and Services) Rules, 2016


Download (PDF, 1.33MB)


Source: http://finmin.nic.in/

READ  The Constitutional 122nd Amendment Bill 2014: One More Step Towards GST