April 24, 2020
PHD Chamber organizes a Webinar on “Analyses & Issues in Place of Supply and Export and Import of Goods & Services and some important issues”
PHD Chamber organizes a Webinar on “Analyses & Issues in Place of Supply and Export and Import of Goods & Services and some important issues” Friday, 24th April 2020. The session was attended by around 120 delegates.
While speaking at the Webinar on Analyses & Issues in Place of Supply and Export and Import of Goods & Services and some important issues Shri Pradeep Multani, Vice President, PHDCCI highlighted the recent reform measures by the government in terms of financial package support of Rs. 1.70 lakh crore, Rs. 15,000 crore towards the build-up of health infrastructure, issuance of Rs 18,000 crore pending refunds of income-tax, GST & custom by IT Department, among others are very crucial to contain the impact of pandemic COVID-19 on our country. He accentuated that the CBIC vide Circular No. 20/2020 – Customs dated April 21, 2020 to defer the implementation of Electronic Sealing-Deposit in and removal of goods from Customs Bonded Warehouses vide Circular – 10/2020 – Customs dated February 07, 2020. The Board has decided to defer the implementation of Circular-10/2020-Customs till June 30, 2020.
Mr. N K Gupta, Chair, Indirect Taxes Committee, PHDCCI in his remarks mentioned that PHDCCI has taken a very great initiative by writing it to all states to reopen suo moto ex parte assessment passed under VAT Laws due to pandemic COVID-19. He mentioned that this would provide much needed relaxation to the trade, in combating the circumstances arising out of pandemic COVID-19. He apprised that GST is a consumption based tax, hence the place of consumption will decide the State that will collect tax. If there is a confusion in the place of supply which is there today, there will be tug of war amongst the states to claim the consumption, so the rules relating to place of supply should be simple to implement. He mentioned that this is fortunate that GST is One Nation One Tax which says that GST is a single tax on the supply of goods and services throughout the country.
Mr. Bimal Jain, Mentor, Indirect Taxes Committee, PHDCCI discussed in the detail the Place of Supply in case of exports service. He said that as per Section 2(15)of IGST Act, “location of the supplier of services” means,- (a) where a supply is made from a place of business for which the registration has been obtained, the location of such place of business; (b) where a supply is made from a place other than the place of business for which registration has been obtained (a fixed establishment elsewhere), the location of such fixed establishment; (c) where a supply is made from more than one establishment, whether the place of business or fixed establishment, the location of the establishment most directly concerned with the provision of the supply; and (d) in absence of such places, the location of the usual place of residence of the supplier.
Dr Gaurav Gupta, Co-chairman Indirect Taxes Committee, PHDCCI in his theme presentation explained the importance of supply under GST. He explained the provisions of Section 77 of CGST Act. He explained that subject to the provisions of sub-section (2), of Section 9 of CGST Act there shall be levied a tax called the central goods and services tax on all Intra-State supplies of goods or services or both, except on the supply of alcoholic liquor for human consumption, on the value determined under section 15 and at such rates, not exceeding twenty per cent., as may be notified by the Government on the recommendations of the Council and collected in such manner as may be prescribed and shall be paid by the taxable person. He further explained the broader issues in place of supply under GST.
The other eminent tax experts who addressed the webinar include Mr. Sudipta Bhattacharjee, Partner, Advaita Legal; Mr. Suresh Pandey, Chair, NIRC, ICSI; Mr. Tushar Aggarwal, Partner, TATTVAM Advisors and Mr. Kashish Gupta, Litigation Head, S S Kothari Mehta & Co.
PHD Chamber of Commerce and Industry