Two days’ workshop on

“GST – Registration, E- Invoicing, Returns, TDS TCS under GST

Law and Advance Ruling under GST Law”
14-15 November, 2022

For the Officials of

CPSEs and SLPEs of DPE
CMA NAVNEET KUMAR JAIN
FCMA. MBA, LL.B., M.COM., PGDTL, PGDFM, PGDIM, DISA(CMA), AIIISLA, LIII
INSOLVENCY PROFESSIONAL
Ist CMA to Qualify Insolvency Examination
Ist CMA to Appear before NCLT, NCLAT & Supreme Court as IP
Consultant-World Bank, Ex Consultant WHO
9810175020
Topics
• TDS & TCS Provisions & Compliances under GST Law
• Payment of GST-Cash Ledger and Credit Ledger etc.
• Filing of Annual Returns
• Consequences of Non compliances
• Maintenance of Books of Accounts and Records
• Provisions related to Advance Ruling under GST with case laws
 Returns under GST
Form Number Form Name
FORM GSTR-1 Details of outward supplies of goods or services
FORM GSTR-1A Details of auto drafted supplies
FORM GSTR-2 Details of inward supplies of goods or services
FORM GSTR-02A Details of auto drafted supplies
FORM GSTR-2B Auto-drafted ITC Statement
FORM GSTR-3 Monthly return
FORM GSTR-3A Notice to return defaulter u/s 46 for not filing return
Details of Outward Supplies and inward supplies liable to reverse
FORM GSTR-3B
charge
Return for financial year of registered person who has opted for
FORM GSTR-4 composition levy or availing benefit of notification No. 02/2019- Central
Tax (Rate)
FORM GSTR-4A Auto-drafted details for registered person opting for composition levy
FORM GSTR-5 Return for Non-resident taxable person
Details of supplies of online information and database
FORM GSTR-5A access or retrieval services by a person located outside India
made to non-taxable persons in India
FORM GSTR-6 Return for input service distributor
FORM GSTR-6A Details of supplies auto-drafted form
FORM GSTR-7 Return for Tax Deducted at Source
FORM GSTR-7A Tax Deduction at Source Certificate
FORM GSTR-8 Statement for tax collection at source
FORM GSTR-9 Annual Return
FORM GSTR-9A Annual Return (For Composition Taxpayer)
FORM GSTR-9B Annual statement by E commerce operator for TCS
FORM GSTR-9C Reconciliation Statement
FORM GSTR-10 Final Return
Statement of inward supplies by persons having Unique
FORM GSTR-11
Identification Number (UIN)
TAX DEDUCTION AT SOURCE (TDS) AND
TAX COLLECTION AT SOURCE(TCS)
 What is GST?
• Goods and Services Tax is an indirect tax levied on the
supply of goods and/or services. It is a destination
based tax. The GST would apply to all goods other than
alcoholic liquor for human consumption and five
Petroleum products.

• The persons whose turnover in a financial year is more

than Rs.40 Lakhs generally or 20 Lacs((in specific areas)
are need to be registered under GST. For registering
under GST, PAN is compulsory. All the registered taxable
persons will get a 15 digit PAN based GSTIN.
Under GST the following are the major taxes

• Levied on inter-state
transactions.

• Levied by Central Government

for supplies made within the
state.

• Levied by State Government for

supplies made within the state.
In the case of intra-state supply of goods/services

Goes into Central Government Account

Goes into State Government Account

In the case of inter-state supply of goods/services

Shared by Central and State Governments in

fixed proportions
Some Key words:

• Taxable Supply: means the supply of goods or services or both which

is leviable to tax under GST Act.

• Deductor: Deductor is the person who is required to deduct TDS for a

supply from a supplier.

• Deductee: The supplier from whom tax is deducted.

TDS and TCS Provisions &
Compliances under GST Law
Summarised TDS Provisions
Sections
• Section 51- As Per Provisions of GST law, TDS has to be deducted from the
payment made to a supplier against both intra-state & inter-state supply of
taxable goods or services or both.

• Section 52- TCS stands for Tax Collected at source. In the GST regime, every e-
commerce operator needs to collect 0.5% under CGST Act and 0.5% under SGST
Act; In case of inter-state transactions, 1% (under IGST Act) on the net values of
taxable supplies made through the e-commerce operator.
 The following persons need to deduct TDS

1. A department or establishment of the Central or State

Government, or

2. Local authority, or

3. Governmental agencies, or

4. Such persons or category of persons, notified by the

Government.
5. Public sector undertakings, or
6. A society established by the Central or any State
Government or a Local Authority and the society is
registered under the Societies Registration Act, 1860, or

7. An authority or a board or any other body which has

been set up by Parliament or a State Legislature or by a
government, with 51% equity (control) owned by the
government.
Rate of TDS to be deducted under GST
• The rate of TDS notified under the GST laws is 2% (1% CGST+1% SGST or 2%
IGST) on the payments made to the seller of taxable goods or services

• Limit for deducting TDS under

• If the total value of supply under a contract exceeds Rs 2.5 lakhs then the
person/entity would be liable to deduct TDS.
Deposit of TDS
• Rule 86 (4) The amount deducted under section 51 , or the amount
collected under section 52 , or the amount payable on reverse charge
basis, or the amount payable under section 10 , any amount payable
towards interest, penalty, fee or any other amount under the Act shall
be paid by debiting the electronic cash ledger maintained as per rule
87 and the electronic liability register shall be credited accordingly.
What is the rate applicable under TCS

• The dealers or traders supplying goods and/or services through e-commerce operators will
receive payment after deduction of TCS @ 1%. The rate is notified by the CBIC in Notification
no. 52/2018 under CGST Act and 02/2018 under IGST Act.

• This means for an intra-state supply TCS at 1% will be collected, i.e 0.5 % under CGST and 0.5%
under SGST. Similarly, for a transaction between the states, the TCS rate will be 1%, i.e under
the IGST Act.
Impact of TDS under GST on Government civil
contractors
• The Indian government, on average, gives out more than 10,000 civil
contracts every year throughout the country. The contract for
constructing/repairing the national highways average more than Rs.100
crores.
• These contracts are acquired by big construction companies and then
sub-contracted to smaller firms and then again further sub-contracted to
another small firm. This loop will face problems due to GST and in
particular due to the TDS liability.
The government would need to deduct TDS from the contractor which
would ensure tax compliance by the contractors and all the other sub-
contractors. Currently, many small civil/labour contractors do not fulfil
tax compliance. Under GST it will be imperative for them to get registered
and fulfil tax compliance.
Impact of the TCS provisions

• From the e-commerce operators viewpoint, they must register under GST in every state in
which they operate before 1st Oct 2018, which is the effective date of implementing TCS
provisions. The ERP systems have to be well integrated to apply these provisions in the day to
day businesses smoothly.
• Moreover, the working capital of the suppliers selling through an e-commerce operator will be
blocked until they file their return and claim the excess taxes paid. This can prevent SMEs
vendors from selling goods or supplying services on the online portal.

• From the government’s viewpoint, tax evasion will significantly reduce since the tax will be
collected at each and every transaction
Impact of the TCS in GST on e-Commerce Operators

• TDS and TCS under GST have numerous benefits. Both TDS and TCS under GST
were introduced by the government for strengthening regulation on tax
evaders. Sections 51 and 52 of the CGST Act respectively covers the provisions
of TDS and TCS under GST.
• From a deductee or supplier’s standpoint, there will be an automatic reflection
in his electronic ledger once the deductor files his/her returns under the TDS
system.
• The deductee can claim credit in his electronic cash ledger of this tax deducted
and use it for payments of other taxes, at his convenience.
Value of supply on which TDS shall be deducted
For the purpose of deduction of TDS, the value of purchases or
contract is to be taken as the amount excluding the tax
indicated in the invoice. This means TDS shall not be deducted
on the CGST, SGST or IGST component of invoice

. whom would you pay TDS

To
TDS shall be paid within 10 days from the end of the month in
which tax is deducted. The payment shall be made to the
appropriate government, which means:

CENTRAL GOVERNMENT - In case of IGST & CGST

STATE GOVERNMENT - In case of SGST
Who is liable to collect TCS under GST

• Certain operators who own, operate and manage e-commerce platforms are
liable to collect TCS. TCS applies only if the operators collect the consideration
from the customers on behalf of vendors or suppliers.
• In other words, when the e-commerce operators pay the consideration
collected to the vendors they have to deduct an amount as TCS and pay the net
amount.
Due date for depositing TCS

• TCS will be deducted during the month in which the supply is made. It will be
deposited within 10 days from the end of the month of supply to the credit of
the government.
• Payment of the tax collected will be made in the following manner:
• a. IGST & CGST will be paid to the central government
• b. SGST to respective state governments
When will the liability of collecting TCS arise

• TCS will be collected by e-commerce operators while making a

payment to the vendor. This payment will be the consideration
collected on the vendor’s behalf for the supplies made by him via
the online portal. This tax will be collected on the net value of
taxable supplies.
 Refund of the excess amount deducted

In case the amount is claimed Refund to deductor is not possible in such case. However,
deductee can claim a refund of tax subject to refund
by the taxable person in his provisions of the act. Practically it is not possible to claim
electronic cash ledger any erroneous deduction of TDS by the deductor.

Refund of erroneous excess TDS deducted is possible to

In case the amount is not so deductor, subject to refund provision and procedure of
claimed by the dealer the act. (This condition arises when deductor not filed
return GSTR-7)
Here are few exceptions to the TCS provisions for the services
provided by an e-commerce platform

1.Hotel accommodation/clubs (unregistered suppliers)

2.Transportation of passengers – radio taxi, motor cab or motorcycle
3.Housekeeping services like plumbing, carpentry etc. (unregistered suppliers)
TCS in GST for the e-Commerce Sector: Compliance
in Gist
• Section 52 has been inserted under the CGST law for all e-commerce aggregators to
bring TCS in GST. e-Commerce aggregators are made responsible under the GST law for
deducting and depositing tax at the rate of 1% from each transaction.
Any dealers or traders selling goods or services online would get the payment after
deduction of 1% tax (0.5% CGST+ 0.5% SGST or 1% IGST).
It is a significant change that has increased the compliance and administration cost for
online aggregators like Flipkart, Snapdeal, Amazon, etc. They would need to deposit
the tax deducted by the 10th day of the next month in form GSTR-8.
All the traders or dealers selling goods or services online would need to get registered
under GST for claiming the tax deducted by e-commerce operators, even if their
turnover is less than the threshold turnover limit notified for GST registration.
TDS Received Documentation
Action as a person whose TDS has been
deducted
• 1. You can’t file nil return if there are no auto populated TDS/TCS
details from GSTR 7/8 (Filing of nil return is not required).
• 2. You can file the “TDS and TCS Credit received’ form for ‘M’ period
without filing ‘M-1’ period TDS and TCS credit received i.e You can file
‘M-1’ period return after filing of ‘M’ period return.
• 3. There is no due date for filing of this form and hence late fee and
interest is not applicable.
Steps for filing form
TDS filed
Filing of TDS received communication
• Prepare Online:-
• Auto populated details are less than or equal to 500 records per table
may make use of this facility.
• Steps to be taken:
• Click on 'Prepare Online';
• Take the action on auto populated details from GSTR 7 and GSTR 8; and
• Click on ‘Proceed to File’ and File ‘TDS and TCS Credit received form’.
• Prepare Offline:-
• If Auto populated details are more than 500 records per table (TDS credit
received, Amendments to TDS Credit received, TCS Credit received,
Amendments to TCS credit received) can prepare their return by using the
offline utility and subsequently upload on GST Common Portal.
TDS Steps filing
• Steps to file your TDS and TCS Credit received form
• Click on “Proceed to file”; for checking of errors, if any;
• “File TDS/ TCS credit received” button would be enabled once
Proceed to file is successful and enabled the declaration check box;
• Click on ‘Download Filed TDS and TCS Credit received (pdf)’ button
to view summary of filed details in PDF format; and
• You can also download all filed details as an excel file by clicking
on ‘Download TDS and TCS Credit received details (Excel)’
PAYMENT OF GST-CASH LEDGER AND CREDIT
LEDGER ETC
Payment of GST
Form Number Form Name
FORM GST PMT-01 Electronic Liability Register of Registered Person

FORM GST PMT-02 Electronic Credit Ledger of Registered Person

FORM GST PMT-03 Order for re-credit of the amount to cash or credit ledger on rejection
of refund claim
FORM GST PMT-04 Application for intimation of discrepancy in Electronic Credit
Ledger/Cash Ledger/ Liability Register
FORM GST PMT-05 Electronic Cash Ledger

FORM GST PMT-06 Challan for deposit of goods and services tax

FORM GST PMT-07 Application for intimating discrepancy relating to payment

FORM GST PMT-09 Transfer of amount from one account head to another in electronic
cash ledger
FORM GST PMT-03A Order For re-credit of the amount to electronic credit ledger
Electronic Ledgers

Electronic Cash Ledger is a cash ledger that contains deposits that a taxpayer
has made and any GST payments made through cash. The cash ledger
segregates the information head wise such as IGST, CGST, SGST/UTGST, and
CESS. Each of these major heads (IGST, SGST, etc.) are further divided into 5
minor heads -Tax, Interest, Penalty, Fees, and Others. The Electronic Cash
Ledger is maintained on the GST Portal
Electronic Credit Ledger
The electronic credit ledger is maintained in FORM GST PMT-02 for each
registered person on the common portal and every claim of input tax credit is
to be credited to this ledger. The input tax credit as self-assessed in the return
by a registered person is credited to his electronic credit ledger.
Electronic Liability Ledger
This ledger has details of GST liability. The ledger contains the total GST
liability and the manner in which it has been paid – in cash or through credit.
What is the Electronic Cash Ledger?
• The Electronic Cash Ledger contains a summary of all the deposits/payments made by a taxpayer. In the
ledger, information is kept minor head-wise for each major head. For convenience of user, the ledger is
displayed major head-wise i.e., IGST, CGST, SGST/UTGST, and CESS. Each major head is divided into five minor
heads: Tax, Interest, Penalty, Fee, and Others. It can be accessed under the post-login mode on the GST
portal under Services > Ledgers > Electronic Cash Ledger

• Electronic Cash Ledger is an account of the taxpayer maintained by GST system reflecting the cash deposits
in recognized Banks and payments of taxes and other dues made by the taxpayer. The Tax Deducted at
Source (TDS) and Tax Collected at Source (TCS) are also accounted for in the Electronic Cash Ledger as cash
deposits of the taxpayer.

• A registered taxpayer can make cash deposits in the recognized Banks through the prescribed modes to the
Electronic Cash Ledger using any of the Online or Offline modes permitted by the GST Portal. The Cash
deposits can be used for making payment(s) like tax liability, interest, penalties, fee, and others.

• What are year end activities for finalization of books of accounts?

Screenshots: Ledgers
Fields in Electronic Cash Ledger: 5heads
Sr.No
Date of deposit/Debit
Time of deposit
Reporting date (by bank)
Reference No.
Tax Period if applicable
Description
Transaction Type (Debit/Credit)
Integrated Tax Amount Debited / Credited Tax Integrated Tax Balance Tax
Interest Interest
Penalty Penalty
Fee Fee
Others Others
Total Total
Central Tax Amount Debited / Credited Tax Central Tax Balance Tax
Interest Interest
Penalty Penalty
Fee Fee
Others Others
Total Total
State Tax Amount Debited / Credited Tax State Tax Balance Tax
Interest Interest
Penalty Penalty
Fee Fee
Others Others
Total Total
CESS Amount Debited / Credited Tax CESS Balance Tax
Interest Interest
Penalty Penalty
Fee Fee
Others Others
Total Total
Electronic Cash Ledger-Extract IGST
Electronic Credit Ledger
Electronic Liability Register
GST Payment Process
• The taxpayer raises a challan in form GST PMT – 06 to begin with the GST payment. This
challan contains the details of the amount to be deposited towards tax, interest, penalty,
fees or any other amount. And it is valid for a period of 15 days.

• Thus, the taxpayer deposits the tax amount at the common portal after generating the
Challan. Once this is done, the collecting bank generates the CIN (Challan Identification
Number). This number is indicated on the GST Payment Receipt. Hence, the amount so
deposited is credited to the electronic cash ledger of the taxpayer on whose behalf the
payment was deposited. This happens only on receipt of the CIN
Form GST PMT-05
• The electronic cash ledger is maintained in FORM GST PMT-05 for each registered person, liable
to pay tax, interest, penalty, late fee or any other amount, on the common portal for crediting
the amount deposited and debiting the payment therefrom towards tax, interest, penalty, fee
or any other amount.
• The payment required to be made by an unregistered person, can be made on the basis of a
temporary identification number generated through the common portal.
• A challan in FORM GST PMT-06 can be generated on the common portal in which the details of
the amount to be deposited towards tax, interest, penalty, fees or any other amount is to be
entered.
• This challan is valid for a period of fifteen days. The deposit can be made through any of the
following modes, namely:
• (i) Internet Banking through authorised banks;
• (ii) Credit card or Debit card through the authorised bank;
• (iii) NEFT or RTGS from any bank; or
• (iv) Over the Counter payment through authorised banks for deposits up to Rs 10,000/- per
challan per tax period, by cash, cheque or demand draft.
• Form GST PMT-02
• The electronic credit ledger shall be maintained in form GST PMT – 02. This form
shall be maintained on the common portal for every registered person eligible to
claim input tax credit under GST act. Every claim of the input tax credit is credited
to the electronic credit ledger
• Hence, following are the components of Form GST PMT-02:
• Serial Number
• Date of Deposit
• Time of Deposit
• Reporting Date by Bank (Reference Number)
• Reference Number
• Tax period, if applicable
• Description
• Transaction Type (Debit/Credit)
• Amount Debited/Credited
FORM GST PMT-01
• The electronic liability register is maintained in FORM GST PMT-01 for each registered
person liable to pay tax, interest, penalty, late fee or any other amount on the common
portal and all amounts payable by him gets debited to the said register. The electronic
liability register is maintained in two parts at the common portal.
Payment through NEFT or RTGS
• The registered taxpayer can make payment through National Electronic Fund Transfer or
Real Time Gross Settlement from the bank. Then the mandate form along with the challan
generated on the common portal needs to be submitted to the bank. The validity period of
this mandate form is 15 days from the date of the challan generated.
• On making payment successfully, the collecting bank generates a Challan Identification
Number (CIN) and the same will be indicated in the challan.
• On receipt of the Challan Identification Number (CIN) from the collecting bank, the amount
will be credited to the ledger of the registered taxable person.
• In cases when bank debits your account on making deposit but fails to generate Challan
Identification number or the CIN which is generated by the bank not uploaded in the
common portal. In such cases, the concerned person can submit an application
electronically through Form GST PMT-07.
Rules for Electronic Credit Ledger
• The electronic credit ledger shall be maintained in form GST PMT – 02 on the common
portal. This ledger reflects the amounts credited against every claim of input tax credit
taken under the act.
• This ledger is debited to an extent the liability is set off or discharged using the credit
available.
• There are cases where a registered taxpayer claims refund of any unutilized amount of
input tax credit from the electronic credit ledger. In such cases, the electronic credit ledger
is debited to the extent of the refund claimed.
• However, there are situations when such refund filed by the taxpayer is rejected either fully
or partially. In such a case, the amount debited in rule above is credited to the electronic
credit ledger of the concerned taxpayer. The amount credited is restricted to the portion of
the claim rejected. Furthermore, the said amount is credited by a proper officer through an
order in form GST PMT – 03.
• Entries are not allowed to be made directly in the electronic credit ledger under any
circumstance apart from the rules mentioned above.
• In case there is any discrepancy in the electronic credit ledger, the registered person
communicates it to the concerned officer. This communication is made through the
common portal in form GST PMT – 04.
Steps post which amount deposited will get credited in Electronic Cash
Ledger.
• Firstly, the registered person will make payment of the respective amount
via any of the preferred modes (as stated above);
• Once the payment is done by the registered person, the amount will get
credited to the concerned government account maintained in the
authorized bank;
• The collecting bank will issue Challan Identification Number (popularly
known as CIN). Notably, CIN will be indicated in the challan; and
• Lastly, once CIN is received, the respective amount will be credited to the
Electronic Cash Ledger.
How we Claim our Electronic Credit Ledger
• STEP 1 – Visit https://www.gst.gov.in (GST Portal);
• STEP 2 – Click ‘Login’ and enter ‘Username’, ‘Password’ and ‘Characters
shown in the image’;
• STEP 3 – Navigate Services > Ledgers > Electronic Credit Ledger; and
• STEP 4 – Select the period from the drop-down list and click ‘GO’
How we check our electronic liability register?

• STEP 1 – Visit https://www.gst.gov.in (GST Portal);

• STEP 2 – Click ‘Login’ and enter ‘Username’, ‘Password’ and ‘Characters
shown in the image’;
• STEP 3 – Navigate Services > Ledgers > Electronic Liability Register;
• STEP 4 – Select Part -1 for ‘Return related liabilities’ or select Part -II for
‘Other than return related liabilities;
• STEP 5 – Select the period from the drop-down list and click ‘GO’.
Examples related to payment of cash ledger
• Mr. A has a GST on sales of Rs 50,000. He also has an Input Tax Credit on purchases of Rs
35,000. The balance of his Electronic Cash Ledger is Nil.

• The GST liability of Rs. 15,000 has to be paid in the form of cash/bank payment. Mr. A will
deposit Rs 15,000. This will be shown in the Electronic Cash Ledger of Mr. A. The balance of
the ledger will be utilised for payment of GST. This payment will reflect in Mr. A’s Electronic
Cash Ledger as shown below:
•
Balance in Electronic Cash Ledger is utilized for payment of GST liability. When offsetting GST liability
this is how it reflects on the GST Portal.
Example for credit ledger
• Take the above example. Mr. A has an ITC of Rs 35000. The breakup of ITC is-
• IGST – Rs. 18,000
• CGST – Rs. 7,000
• SGST – Rs. 10,000
• The IGST Liability is Rs 30,000. The IGST credit of Rs 18,000 will be entirely used to set off
this liability. The balance IGST is paid in cash of Rs 12,000 which reflects in the Electronic
Cash Ledger.

• In case of CGST the credit of Rs. 7,000 will be set off against liability of Rs. 10,000 and CGST
of Rs. 3,000 has to be paid. The SGST payable is equal to the credit of SGST available. This
means no SGST has to be paid by Mr. A.
•
On offsetting credit here is how the adjustments will reflect on the GST Portal-
Example related to liability ledger
• Here is how the Electronic Liability Ledger looks in the GST Portal-
FILLING OF ANNUAL RETURNS
Rule 80. Annual return .-
• (1) Every registered person, other than those referred to in the second
proviso to section 44 , an Input Service Distributor, a person paying tax under
section 51 or section 52 , a casual taxable person and anon-resident taxable
person, shall furnish an annual return for every financial year as specified
under section 44 electronically in FORM GSTR-9
• on or before the thirty-first day of December following the end of such
financial year
• through the common portal either directly or through a Facilitation Centre
notified by the Commissioner:
• Provided that a person paying tax under section 10 shall furnish the annual
return in FORM GSTR-9A

• GST Annual Return is to be filed by all registered taxpayers including composition tax payers. ( Sec 44 (1)
&(2)).
• Annual return is a consolidation of periodical returns and reconciliation with books of accounts.
Who need to file annual return
Late filling of annual return

• The due date is 30-11-2019 for the FY 2017-18.( as per the proviso to Sec 44 inserted vide
Ministry of Finance Order No. 7/2019- Central Tax dt: 26-08-2019 )
• • Filing after due date attracts late fee and penalty.
• • Late fee is of Rs.200 (Rs.100 U/CGST + Rs.100 U/SGST) per day subject to a maximum of
Rs.0.50% (0.25% + 0.25%) of turn over in the state. (Sec 47(2))
• • Penalty may extend to Rs.50,000 (Rs.25,000 + Rs.25,000) (Sec 125)
No GST Audit
Presently
 GSTR - 9
• Form GSTR-9 is an annual return to be filed by the businesses registered under GST. In Form
GSTR-9, you need to declare the consolidated details of outward supplies, inward
supplies, GST payable and ITC claimed for the previous financial year.
• The annual GST Return filling consists of different returns forms. Basis of the GST
registration type and annual turnover, the businesses need to file the applicable annual
GST return form.
• GSTR-9: should be filed by the regular taxpayers who are filing GSTR-1 and GSTR-3B

• GSTR-9A: should be filed by the persons registered under composition scheme under GST

• GSTR-9C: should be filed by the taxpayers whose annual turnover exceeds INR 2 crores
during the financial year. All such taxpayers are also required to get their accounts audited
and file a copy of audited annual accounts, reconciliation statement of tax already paid and
details of tax payable as per audited accounts, along with this return
Details required to be filled in the GSTR-9?
• GSTR-9 is divided into 6 parts and 19 sections. Each part asks for details that are easily
available from your previously filed returns and books of accounts.
• Broadly, this form asks for disclosure of annual sales, bifurcating it between the cases that
are subject to tax and not subject to tax.
• On the purchase side, the annual value of inward supplies and ITC availed thereon is to be
revealed.
• Furthermore, these purchases have to be classified as inputs, input services, and capital
goods. Details of ITC that needs to be reversed due to ineligibility are to be entered.
Once the GST Annual Return Form GSTR 9 is prepared, the next step is to file GSTR-9
in the GST Portal. The following are the steps to file GSTR-9

• Login and Navigate to Form GSTR-9 - Annual Return for Normal Taxpayer
• Download Form GSTR-1, Form GSTR-3B and Form GSTR-9 Summary
• Enter details in various tiles
• Preview Draft Form GSTR-9 Summary
• Compute Liabilities and Pay Late Fees, If any
• Preview Draft Form GSTR-9
• File Form GSTR-9 with DSC/ EVC
Example of Annual return filling
• Mr.A (registered under VAT previously) had registered under GST on 1st October
2017 as a normal taxpayer. He then opted for the composition scheme on 1st
January 2018. Mr. A will now have to file the following returns:
• GSTR- 9 for the period 1st October 2017 to 31st December 2017.
• GSTR- 9A for the period 1st January 2018 to 31st March 2018.
• Thereafter, for each financial year, he should file GSTR-9A till he opts out of the
scheme.
• However, the following persons are not required to file GSTR- 9:
• A taxpayer registered under the composition scheme
• A casual taxpayer
• Input service distributor
• A non-resident taxpayer
• A person deducting TDS u/s 51
• A person collecting TCS u/s 52 as they must file GSTR-9B
Prerequisites for filing GSTR-9

• A taxpayer should be registered as a normal taxpayer under GST at least for

a single day in a financial year.
• A taxpayer should have filed GSTR-1 and GSTR-3B for the financial year
before filing the annual return because GSTR-9 is a compilation of data filed
in GSTR-1 and GSTR-3B.
• Please note, table number 6A will be auto-filled based on the GSTR-3B and
the same is not editable.
• Similarly, table number 8A will be auto-filled based on the details auto-
populated in GSTR-2A and the same is not editable.
• The complete table number 9 – Details of Tax paid as declared in returns
filed during the financial year will be auto-filled based on the details
provided by you in Form GSTR-3B for the relevant financial year. ‘Paid
through Cash’ and ‘Paid through ITC’ columns are non-editable.
GSTR 9C
• Every registered person,
• other than those referred to in the second proviso to section 44 , an Input Service
Distributor, a person paying tax under section 51 or section 52 , a casual taxable
person and a non-resident taxable person,
• whose aggregate turnover during a financial year exceeds five crore rupees,
• shall also furnish a self-certified reconciliation statement as specified under
section 44 in FORM GSTR-9C
• along with the annual return,
• on or before the thirty-first day of December
• following the end of such financial year, electronically through the common
portal either directly or through a Facilitation Centre notified by the
Commissioner.]
Example related to filling to annual return

• M/s ABC Pvt Ltd is ready to file GSTR-9.

• 1. When GSTR-1 and books match and liability isn’t disclosed in GSTR-3B of 17-18 but the same
was disclosed in GSTR-3B of September 2018. However, the liability was paid in cash and
unutilized ITC on September 18. How to disclose in GSTR-9?
• Ans- The situation is depicted in the below table:
• ABC Pvt Ltd must adopt a different disclosure means for Table 4 but has to disclose all the
amounts related to invoices raised in FY 2017-18 in GSTR-9 of the FY 2017-18 itself.
• Table of Disclosure in GSTR-9 : Report the amounts in Table 4 and Table 10
• in GSTR-9.
• Issue : Manual means of search and identification of such cases where FY 2017-18 data is
reported in GSTR-1/3B of FY 2018-19 becomes cumbersome.
CONSEQUENCE OF NON COMPLIANCES
Section 125
As per section 125 related to non compliance of penalty up to 25,000 rupees applies to any
offense of the GST law that lacks a specifically prescribed penalty

Penalities for Non-Compliance of GST

Late Filing of Returns
• Late fee for monthly returns ins Rs.20/- per day for nil returns and Rs.50/- per day for
returns other than nil returns subject to a maximum of Rs.10,000/-
• Late fee for not filing annual returns with due date is Rs.200/- per day subject to a
maximum of 0.25% of the taxpayer’s turnover in the relevant state or union territory.
Circumstance for levy of interest

• A person liable to pay tax fails to pay the tax – Interest on the tax due will be calculated
from the first day on which the tax was due to be paid
• A person makes an undue or excess claim of input tax credit or undue or excess reduction
in output tax liability – Interest on the undue excess claim or undue or excess reduction
• A recipient fails to pay to the supplier of goods or service the amount towards the value of
the goods or service, along with tax payable thereon, within 180 days from the date of
issue of invoice by the supplier – Interest on the amount due will be added to the
recipient’s liability.
Circumstance for levy of penalty
• THOSE WHO HAVE COMMITTED THE BELOW OFFENCES INTENTIONALLY
SHALL BE LIABLE TO PAY 100% OF TAX EVADED SUBJECT TO A MINIMUM OF
RS.10,000/-. WHERE THERE IS NO FRAUDULENT INTENT, THE PENALTY SHALL
BE 10% OF TAX EVADED SUBJECT TO A MINIMUM OF RS.10,000/-

• Circumstances for Cancellation of Registration certificate

• A regular dealer has not furnished returns for a continuous period of 6
months.
• A composition dealer has not furnished returns for 3 quarters.
• A person who has taken voluntary registration has not commenced business
within 6 months from the date of registration.
• Registration has been obtained by fraud, willful misstatement or
suppression of facts.
Confiscation of goods or conveyance
• Certain offenses will lead to both a penalty and the confiscation of goods
and/or conveyances. The penalty will be 10,000 rupees or an amount equal
to the tax evaded. These offenses are:
• Failing to account for the goods on which a person is liable to pay tax
• Supplying or receiving goods in breach of any provisions or rules, with the
intent to evade payment of tax
• Supplying any goods liable to tax without registering
• Using a conveyance to deliver taxable goods in breach of any provisions or
rules
The Confederation of All India Traders (CAIT) states that high penalties will
ensure that taxes collected by the merchant will not be used for working
capital or the financial benefit of companies. This should lead to more
stable tax collection and administration.
The prosecution provisions are harsher as compared to mere pecuniary
penalties. They are intended to be a deterrent not only to the assessee but
also to all other assessees.
Maintenance of books of Accounts and Record
 Section 35. Accounts and other records.-

(1) Every registered person shall keep and maintain, at his principal place of business, as mentioned in
the certificate of registration, a true and correct account of-
(a) production or manufacture of goods; ------(critical issue)
(b) inward and outward supply of goods or services or both; (how to measure of services)
(c) stock of goods; (How to maintain)
(d) input tax credit availed; (Relevance of GSTR 2B in current scenario alongwith Books of accounts)
(e) output tax payable and paid; and
(f) such other particulars as may be prescribed: (refer to CGST Rules)
Provided that where more than one place of business is specified in the certificate of registration,
the accounts relating to each place of business shall be kept at such places of business:
Provided further that the registered person may keep and maintain such accounts and other
particulars in electronic form in such manner as may be prescribed. (rule 57)
Rule 56. Maintenance of accounts by registered persons. -

(1) Every registered person shall keep and maintain, in addition to the particulars mentioned in sub-section (1) of section 35 , a true and correct
account of the goods or services imported or exported or of supplies attracting payment of tax on reverse charge along with the relevant
documents, including invoices, bills of supply, delivery challans, credit notes, debit notes, receipt vouchers, payment vouchers and refund vouchers.
(2) Every registered person, other than a person paying tax under section 10 (composition) , shall maintain the accounts of stock in respect of goods
received and supplied by him, and such accounts shall contain particulars of the opening balance, receipt, supply, goods lost, stolen, destroyed,
written off or disposed of by way of gift or free sample and the balance of stock including raw materials, finished goods, scrap and wastage
thereof.

(3) Every registered person shall keep and maintain a separate account of advances received, paid and adjustments made thereto.

(4) Every registered person, other than a person paying tax under section 10 , shall keep and maintain an account, containing the details of tax
payable (including tax payable in accordance with the provisions of sub-section (3) and sub-section (4) of section 9 ), tax collected and paid, input
tax, input tax credit claimed, together with a register of tax invoice, credit notes, debit notes, delivery challan issued or received during any tax
period.
Rule 56. Maintenance of accounts by registered persons. -

(5) Every registered person shall keep the particulars of -

(a) names and complete addresses of suppliers from whom he has received the goods or services chargeable to tax under
the Act; (Vendors)
(b) names and complete addresses of the persons to whom he has supplied goods or services, where required under the
provisions of this Chapter; (Customers)
(c) the complete address of the premises where goods are stored by him, including goods stored during transit along with the
particulars of the stock stored therein. (Goods Locations)
(6) If any taxable goods are found to be stored at anyplace(s) other than those declared under sub-rule (5) without the cover of
any valid documents, the proper officer shall determine the amount of tax payable on such goods as if such goods have been
supplied by the registered person. (Goods kept at places other than at declared place)
(7) Every registered person shall keep the books of account at the principal place of business and books of account relating to
additional place of business mentioned in his certificate of registration and such books of account shall include any electronic
form of data stored on any electronic device. (Books of Accounts including Electronic Records to be kept at specific Places)
(8) Any entry in registers, accounts and documents shall not be erased, effaced or overwritten, and all incorrect entries,
otherwise than those of clerical nature, shall be scored out under attestation and there after the correct entry shall be
recorded and where the registers and other documents are maintained electronically, a log of every entry edited or deleted
shall be maintained. ( Audit trail of corrections, authentications etc.)
(9) Each volume of books of account maintained manually by the registered person shall be serially numbered. Manual
Records
(10) Unless proved otherwise, if any documents, registers, or any books of account belonging to a registered person are found
at any premises other than those mentioned in the certificate of registration, they shall be presumed to be maintained by the
said registered person. (What if books of accounts are found at place other than the place mentioned in RC)
 Rule 56. Maintenance of accounts by registered persons. -

(11) Every agent referred to in clause(5) of section 2 shall maintain accounts depicting the,-
(a) particulars of authorisation received by him from each principal to receive or supply goods or services on behalf of such
principal separately;
(b) particulars including description, value and quantity(wherever applicable) of goods or services received on behalf of every principal;
(c) particulars including description, value and quantity(wherever applicable) of goods or services supplied on behalf of every principal;
(d) details of accounts furnished to every principal; and
(e) tax paid on receipts or on supply of goods or services effected on behalf of every principal.
(12) Every registered person manufacturing goods shall maintain monthly production accounts showing quantitative details of raw
materials or services used in the manufacture and quantitative details of the goods so manufactured including the waste and by products
thereof.
(13) Every registered person supplying services shall maintain the accounts showing quantitative details of goods used in the provision of
services, details of input services utilised and the services supplied.
(14) Every registered person executing works contract shall keep separate accounts for works contract showing -
(a) the names and addresses of the persons on whose behalf the works contract is executed;
(b) description, value and quantity (wherever applicable) of goods or services received for the execution of works contract;
(c) description, value and quantity (wherever applicable) of goods or services utilized in the execution of works contract;
(d) the details of payment received in respect of each works contract; and
(e) the names and addresses of suppliers from whom he received goods or services.
 Rule 56. Maintenance of accounts by registered persons. -

(15) The records under the provisions of this Chapter may be maintained in electronic form and the record
so maintained shall be authenticated by means of a digital signature.
(16) Accounts maintained by the registered person together with all the invoices, bills of supply, credit and debit notes, and delivery
challans relating to stocks, deliveries, inward supply and outward supply shall be preserved for the period as provided in section 36 and
shall, where such accounts and documents are maintained manually, be kept at every related place of business mentioned in the
certificate of registration and shall be accessible at every related place of business where such accounts and documents are maintained
digitally. (period of retention of Books of Accounts-72 Months)

(17) Any person having custody over the goods in the capacity of a carrier or a clearing and forwarding agent
for delivery or dispatch thereof to a recipient on behalf of any registered person shall maintain true and
correct records in respect of such goods handled by him on behalf of such registered person and shall
produce the details thereof as and when required by the proper officer.
(18) Every registered person shall, on demand, produce the books of accounts which he is required to
maintain under any law for the time being in force. (Presentation of Books of Accounts whenever required)
 Rule 57. Generation and maintenance of
electronic records.-
(1) Proper electronic back-up of records shall be maintained and preserved in such manner that, in the event of
destruction of such records due to accidents or natural causes, the information can be restored within a
reasonable period of time .

(2) The registered person maintaining electronic records shall produce, on demand, the relevant records or
documents, duly authenticated by him, in hard copy or in any electronically readable format.

(3) Where the accounts and records are stored electronically by any registered person, he shall, on demand,
provide the details of such files, passwords of such files and explanation for codes used, where necessary, for
access and any other information which is required for such access along with a sample copy in print form of
the information stored in such files.
• Every taxpayer registered under GST must maintain all records at his principal place of
business.

• Who must maintain accounts under GST?

• Every registered person must maintain records of:
• Production or manufacture of goods
• Inward and outward supply of goods or services or both
• Stock of goods
• Input tax credit availed
• Output tax payable and paid and
• Other particulars as may be prescribed
Rules related to maintenance of account under GST
• Rule 56(3) Every registered person shall keep and maintain a separate account of advances received,
paid and adjustments made thereto.
• Rule 56(8): Any entry in registers, accounts and documents shall not be erased, effaced or
overwritten, and all incorrect entries, otherwise than those of clerical nature, shall be scored out
under attestation and thereafter, the correct entry shall be recorded and where the registers and
other documents are maintained electronically, a log of every entry edited or deleted shall be
maintained.
Rule 56(9) : Each volume of books of account maintained manually by the registered person shall be
serially numbered.
Rule 56(10) Unless proved otherwise, if any documents, registers, or any books of account belonging
to a registered person are found at any premises other than those mentioned in the certificate of
registration, they shall be presumed to be maintained by the said registered person.
• Rule 56 (13) Every registered person supplying services shall maintain
the accounts showing quantitative details of goods used in the
provision of services, details of input services utilised and the services
supplied.:
Rule 56 (15) The records under the provisions of this Chapter may be
maintained in electronic form and the record so maintained shall be
authenticated by means of a digital signature.
Rule 56(16) Accounts maintained by the registered person together
with all the invoices, bills of supply, credit and debit notes, and
delivery challans relating to stocks, deliveries, inward supply and
outward supply shall be preserved for the period as provided in
section 36 (Seventy Two Months) and shall, where such accounts and
documents are maintained manually, be kept at every related place of
business mentioned in the certificate of registration and shall be
accessible at every related place of business where such accounts and
documents are maintained digitally.
Period for Retention of Accounts under GST
• As per the GST Act, every registered taxable person must maintain the
accounts books and records for at least 72 months (6 years). The
period will be counted from the last date of filing of Annual Return for
that year.
• The last date of filing the Annual return is 31st December of the
following year.
• For example:
• For the year 2017-2018, the due date of filing the annual return is
31.12.2018. The books & records of 2017-2018 must be maintained for
6 years, i.e., 31.12.2023
• If the taxpayer is a part of any proceedings before any authority (First
Appellate) or is under investigation then he must maintain the books
for 1 year after the order of such proceedings/appeal has been
passed.
What are the accounts which must be maintained under
GST?
• In our article, we have listed the various accounts to be maintained that businesses
need to keep under GST.
• For example, under GST, a trader has to maintain the following a/cs (apart from
accounts like purchase, sales, stock) –
• Input CGST a/c
• Output CGST a/c
• Input SGST a/c
• Output SGST a/c
• Input IGST a/c
• Output IGST a/c
• Electronic Cash Ledger (to be maintained on Government GST portal to pay GST)
• Reconciliation of ledger accounts with the data available at GST site must made on
regular basis
• In case there are multiple places of business is mentioned in GST registration
certificate, books relating to each place shall be maintained at such place.
• For example
• X Ltd has 3 Place of business
• “P” Principal Place of business
• “Q” Additional Place of Business
• “R” Additional Place of business
• In this situation X ltd has to maintain details of P at P, Q at Q and R at R.
• Registered person may maintain data in electronic form as per his discretion. However,
data maintenance in electronic form is not mandatory.
Accounting entries under GST
• In spite of initial transition challenges, GST will bring in clarity in
many areas of business including accounting and bookkeeping.
• While the number of accounts is more apparently under GST,
once you go through the accounting entries you will find it is
much easier for record keeping.
• One of the biggest advantages a trader will have is that he can
set off his input tax on service with his output tax on the sale.
Consequences of Not Maintaining Proper Records
• In case of failure in maintaining books of accounts as per section
35(1), the proper officer will determine the tax payable on
unaccounted goods/ services under provisions of section 73 or
section 74.
• Further, as per penalty section 122(1)(xvi), failure in keeping/
maintaining the books of accounts will be liable to a penalty
higher of INR 10,000 or an amount of tax involved.
Provision related to Advance Ruling Under GST
with case law
Section 95
• “advance ruling” means a decision provided by the Authority or the Appellate
Authority 1 or the National Appellate Authority to an applicant on matters or on
questions specified in sub-section (2) of section 97 or sub-section (1) of section
100,2or of section 101C shall be inserted; in relation to the supply of goods or
services or both being undertaken or proposed to be undertaken by the applicant;
• (b) “Appellate Authority” means the Appellate Authority for Advance Ruling
referred to in section 99;
• (c) “applicant” means any person registered or desirous of obtaining registration
under this Act;
• (d) “application” means an application made to the Authority under sub-section (1)
of section 97;
• (e) “Authority” means the Authority for Advance Ruling referred to in section 96.
• 3 (f) National Appellate Authority” means the National Appellate Authority for
Advance Ruling referred to in section 101A.
Section 97
• An application for obtaining an advance ruling under sub-section (1) of
section 97 of the CGST Act and the rules made thereunder, shall be made in
quadruplicate, in FORM GST ARA-01. The application shall clearly state the
question on which the advance ruling is sought. The application shall be
accompanied by a fee of five thousand rupees which is to be deposited
online by the applicant, in the manner specified under section 49 of the
CGST Act. It is reiterated that though the application shall be filed manually
till the advance ruling module is made available on the common portal, the
fee is required to be deposited online in terms of section 49 of the CGST Act.
An advance ruling helps the applicant in planning his activities which are
liable for payment of GST, well in advance. It also brings certainty in
determining the tax liability, as the ruling given by the Authority for Advance
Ruling is binding on the applicant as well as Government authorities.
“Advance ruling” means a decision provided by the Authority or the Appellate
Authority to an applicant on matters or on questions specified in sub-section
(2) of section 97 or sub-section (1) of section 100 of the CGST Act, 2017, in
relation to the supply of goods or services or both being undertaken or
proposed to be undertaken by the applicant.
 Objectives of Advance Ruling

• i. Provide certainty in tax liability in advance, in relation to an activity proposed to be

undertaken by the applicant;
• ii. Attract Foreign Direct Investment (FDI);
• iii. Reduce litigation;
• iv. Pronounce ruling expeditiously in transparent and inexpensive manner;
To whom the Advance Ruling is applicable

• An advance ruling pronounced by AAR or AAAR shall be binding only on the

applicant who has sought the advance ruling and on the concerned officer
or the jurisdictional officer in respect of the applicant. This clearly means
that an advance ruling is not applicable to similarly placed other taxable
persons in the State. It is only limited to the person who has applied for an
advance ruling
Time period for applicability of Advance Ruling

• The law does not provide for a fixed time period for which the ruling shall apply. Instead, it
has been provided that advance ruling shall be binding till the period when the law, facts or
circumstances supporting the original advance ruling have not changed.
• However, an advance ruling shall, by an order passed by the AAR/AAAR, be declared to be
ab initio void if the AAR or AAAR finds that the advance ruling was obtained by the
applicant by fraud or suppression of material facts or misrepresentation of facts. In such a
situation, all the provisions of the CGST/SGST Act shall apply to the applicant as if such
advance ruling had never been made (but excluding the period when advance ruling was
given and up to the period when the order declaring it to be void is issued). An order
declaring advance ruling to be void can be passed only after providing an opportunity of
hearing to the applicant.
Procedure for obtaining Advance Ruling
1. An applicant seeking an advance ruling must make an application in Form GST
ARA-1 with the question and a fee of Rs.5000. After receiving the application, the
Authority for Advance Ruling forwards the application to the concerned officer
for gathering the required records.
• The Authority for Advance Ruling would then examine the advance ruling
application along with the records furnished by the taxpayer and concerned officer.
Based on the findings, the Authority for Advance Ruling can pass an order
admitting or rejecting the application. In case of rejection, the concerned authority
should provide an opportunity to the applicant to explain and provide the reason
for rejection of the advance ruling application.
• If the status of the application for the advance ruling states pending or decided in
any proceedings in the case of an applicant under any of the provisions of the GST
Act, the processing officer may reject the application for the advance ruling.
• If the application for advance ruling is accepted, the Authority for
Advance Ruling must pass an order within 90 days of receipt of the
application. Before the ruling, the Authority for Advance Ruling would set
dates for hearing the applicant and the concerned jurisdictional officers
of GST.
• In case of difference of opinion between two members of Authority for
Advance Ruling, the matter will be referred to the Appellate Authority for
Advance Ruling. If the members of Appellate Authority for Advance
Ruling are also unable to come to a decision, then the matter would be
deemed that no advance ruling can be given in respect of the question
raised by the taxpayer.
Powers and procedure of AAR and AAAR

• Both the AAR and AAAR are vested with the powers of a civil court under Code of Civil
Procedure, 1908, for discovery and inspection, enforcing the attendance of a person and
examining him on oath, and compelling production of books of account and other records.
Both the authorities are deemed to be a civil court for the purposes of section 195 of the
Code of Criminal Procedure, 1973. Any proceeding before the authority shall be deemed to
be judicial proceeding under section 193 and 228 and for the purpose of section 196, of the
Indian Penal Code, 1860. The AAR and AAAR also have the power to regulate their own
procedure.
One of the case law of Advance ruling

• Jason James Clemens vs Commissioner, Service Tax on 18 November, 2004

• Case Note: Finance Act , 1994 - Section 96C(2) --Advance Ruling--Notification No. 8/2003
dated 20.6.2003 not relevant to issue ... Section 96C(2) --Thus, the stage of pronouncing
an advance ruling not reached--Application rejected. ORDER Brahm Avtar Agrawal,
Member
• Finance Act, 1994 - Section 96C(2)--Advance Ruling--Notification No. 8/2003
dated 20.6.2003 not relevant to issue of the exigibility of secondary services
to service tax--Question raised that the secondary services which get
consumed/merged in the primary services exported by an international call
centre should be exempt from service tax is exclusively based on the
Circular No. 56/5/2003 dated 25.4.2003 and no statutory provision or
notification issued under Section 93 of the Finance Act, 1994--As the
Notification No. 8/2003 is not relevant to exigibility of secondary services to
service tax--Question not covered under Section 96C(2)--Thus, the stage of
pronouncing an advance ruling not reached--Application rejected.
•
• ORDER Brahm Avtar Agrawal, Member
• 1. The prime point to ponder in the instant application for advance ruling
under sub-section (1) of section 96C of the Finance Act, 1994, made by one
Mr. Jason James Clemens, a British National of foreign origin and "non-
resident", is as to whether the questions stated by the applicant fall within
the jurisdiction of the Authority, vide sub-section (2) of the said section, and
has arisen in the backcloth painted in the following sub-paras.
• 1.2 The applicant proposed to set up an international call center in India in
collaboration with "Gemini Pacific Group LLC", an American company
formed under the "Limited Liability Company Law of the State of Delaware".
• 1.8 The questions framed by the applicant seeking advance ruling
from the Authority read as under :
• "(i) Whether the service tax in first instance is chargeable by the
secondary service provider towards the services to international Call
Centre (Primary service Providers) which services constitute 100%
exports.
• If ruling by the Hon'ble Court on above question is Yes, then, the
further question for Advance Ruling before the Hon'ble Bench is
placed as under :
• (iii) Whether the service tax paid by the primary service provider
dealing in 100% export of services, on the bills raised by the
secondary service provider, would be entitled for refund, if yes, how
and in which manner?
• AND
• (iv) Whether the refund of service tax pad on secondary services by
the primary service provider of 100% exports of services would also
entitle the primary service provider for interest/any other
compensation on such amount, which prima-facie was not payable."
• . The jurisdiction of the Authority to pronounce
its advance ruling is circumscribed by sub-section (2) of section
96C of the Finance Act, 1994, in that the advance ruling can be
sought only on questions of the kinds listed therein. Only if the
questions raised by the applicant are covered under the said
provision, the stage of pronouncing an advance ruling by the
Authority would arise. In fact, we have stated in our Order NO.
1/2004 dated 16.09.2004 in the instant application that the
question as to whether the aforesaid Circular will fall within the
meaning of the word "Notification" in clause (d) of sub-section
(2) of section 96C of the Finance Act shall be considered at the
time of hearing.