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GST: What is an e-way bill and why is it important? All you need to know

A trader opting to discharge GST liability under the composition scheme will not be eligible to claim input tax credit of GST paid on inward supplies

Amit Bhagat 

GST

What is an e-way bill ?

An e-way bill is a document that a person in charge of a conveyance carrying any consignment of of value exceeding Rs 50,000 is required to carry. It is a mandatory document that is generated from the Common Portal by registered persons or transporters who undertake movement of A transporter needs to generate the e-way bill before the movement of commences.

Is there any scheme under for payment of by small

Composition levy is an alternative method of levying that is designed for small taxpayers whose turnover is up to Rs 10 million. This scheme is optional and is meant mainly for small traders, manufacturers and restaurant owners. However, it is not available to a trader engaged in inter-state supplies. Further, a trader opting to discharge liability under the composition scheme will not be eligible to claim input credit of GST paid on inward supplies.

In the pre-GST regime, a special economic zone (SEZ) customer was required to provide Form A-2 to claim exemption from payment of service Will a service provider be required to obtain a similar form from his customers for not charging GST?

Under the pre-GST regime, a service provider was not required to charge service tax on his invoice for rendered to an SEZ customer if the latter provided Form A-2 wherein he was authorised to receive specified from such service providers.

However, under GST law, there has been a change of procedure. Under this law, supplies to have been treated as zero rated subject to execution of Letter of Undertaking/Bond by the service provider. GST law doesn’t require the SEZ customer to provide any specific form (such as Form A-2 under the service tax law).

If the GST rate on outward supply is less than the GST rate on inputs, what will be the treatment of input tax credit that gets accumulated? If refund is available, then at what time can one apply and within what time will one get it?

GST law contains a specific provision wherein the supplier of goods or can apply for refund of input tax credit accumulated on account of inverted duty structure, except for a few categories.

The refund can be applied for before the expiry of two years from the date on which the claim for refund arises. Further, the supplier would be granted provisional refund within seven days from the receipt of acknowledgment from the tax department.

A person runs a grocery shop wherein he supplies goods worth Rs 50, Rs 200 and Rs 250 to three customers. Under the GST regime, can he issue a consolidated tax invoice for all the supplies made at the end of each day?

Under GST law, a separate tax invoice is not required to be issued in case the value of goods or services is less than Rs 200, subject to the condition that the recipient is not a registered person and he does not require such an invoice. In such cases, the registered person can issue a consolidated tax invoice for such supplies at the close of each day for all such supplies. But for supplies of Rs 200 or Rs 250, A will have to issue separate invoices.

At the time of filing GSTR-1, does one have to file invoice-wise details or can one file consolidated details if the supplies are made to unregistered persons?

GST law allows a registered person to file the details of outward supplies in a consolidated manner in cases of intra-state supplies made to an unregistered person or inter-state supplies to unregistered person where the invoice value is up to Rs 250,000.

First Published: Mon, February 05 2018. 05:27 IST
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