All about GST in India

PARVESH AGHI
Framework before GST

2
 Indirect Taxes in India

Central
Sales
Tax VAT
Basic
Service
Custom
tax
Duty

Central Entry State Octroi

Levy Tax Levy ***

Excise
SAD*
Duty
***i tax
SAD* = Special Additional Duty Purcha collected on
CVD**
levied to counter balance the sales
tax /Vat ,local tax
se Tax various
articles
brought into
a district for
**CVD is equivalent to the amount of excise consumption

Article 246 of the Indian Constitution

3
 Indirect Tax Structure of India before GST

Tax Structure

Sales Tax / Customs Entry Tax/

Excise Duty Service Tax Entertainme
VAT/ CST Duty
nt Tax

Taxable Event is Taxable Event is

Taxable Event is Taxable Event is Taxable Event is
Provision of Entertainment &
Manufacture Sale Import & Export
Service Entry of Goods

Under GST tax is be levied on “Supply as defined by the GST Act”

Inefficiency in the old system

High
Complex Tax
Tax Cascading Compliance
Structure
Cost

Lack of
Inefficiency in
Uniformity in
Tax
Provisions and
Administration
rates

5
GST Framework

6
Need for GST

Simplified tax structure- minimal tax rates

Integration of prevailing indirect taxes to ensure

uniformity

Credit available across all goods & services

Availability of credit even for inter-state procurement

Preventing cascading of taxes

Wider tax base leading to increase tax collections

Simplified compliances leading to ease of business

7
Why GST ?

8
GST

GST is comprehensive indirect tax on

manufacture , sale and consumption
of goods as well as services.

It replaces all indirect taxes levied on

goods and services by the Central
Government and State Governments.

9
OVERVIEW OF GST
Overview of GST
State
Service
Excise
Tax Goods & Duty
Service Tax
Excise (GST) Entertai
Duty nment
Tax

VAT
CST
Luxury Octroi
Tax Duty

Features of GST Council

GST
1. . Nation & One Tax & One Market
One GST Governing Body with power to
2. Events are based on Concept of Supply. take decision on rates, exemption,
3. Streamlining & Cross Utilization of threshold exemptions, etc with
Input Tax Credits. 33.33% voting power of Union
4. Revolutionary Invoice Matching Government & 66.66% power lies
Concept. with the State Government.
GST on Supply

GST is levied on supply of goods or

services or both in India. It is applicable
with effect from July 2017.

It is applicable on whole of India ( state

of Jammu & Kashmir is covered ) Area
up to 200 nautical miles inside sea is “
India” for the purpose of levy of GST.

11
 Concept of Supply

All the Earlier Laws, Taxes were based on Events like 

Manufacturing, Provision of Service, Sales, Contract entered, Agreement made, etc.
An Act of
Refraining Sale / Barter /
Land Lease, / Exchange /
Transfer of Tolerating Transfer /
Tenancy, or
Business / License / Rental /
Letting out of
Assets Obligating Lease / Disposal
Any Building
for Commerce , etc of Goods.

Under GST, the Concept

Electronic
Treatment of Supply has
Commerce
of Goods. tremendously increased
Operator
the Scope of Taxable
events.
IT Services
Import of
Constructi –
Goods / Transfer of
on Designing,
Services. Title in
Services Developme
Goods /
nt, etc
Rights in
Goods.
Dual GST

GST introduced in India is a

dual GST. The Central
Government and the State
Government will levy GST
simultaneously on a common
base ( i.e. supply of goods or
services or both)

13
DUAL GST

Many countries in the world have a single unified GST

system i.e. a single tax applicable throughout the
country.

However, in federal countries like Brazil and Canada, a

dual GST system is prevalent whereby GST is levied by
both the federal and state or provincial governments.

In India, a dual GST is introduced whereby a Central

Goods and Services Tax (CGST) and a State Goods and
Services Tax (SGST) will be levied on the taxable value
of every transaction of supply of goods and services.

14
 Indirect Tax Structure

Intra State Excise and Local VAT &

Service Tax will Other taxes will
Taxable be known as be known as
Supply CGST SGST

Inter State CST will be

Approx. Sum
replaced by
Taxable Integrated GST
Total of CGST
and SGST
Supply (IGST)

Import From In Place of

CVD and SAD,
Outside Custom Duty
IGST will be
India charged
Intra state supply

In the case of intra- State supply (

supply within a state or UT) ,
CGST will be payable to the
Central Government and SGST (
or UTGST) is payable to the State
Government . Area up to 12
nautical miles inside sea is part of
State or UT which is nearest

16
Provisions illustrated

Consider the following transactions

X of Jaipur sells 10,000 units of an article at

the rate of Rs 210 per article, purchaser is Y
of Ajmer . GST is 12% .

This is intra-state supply ( i.e supply within

Rajasthan) . GST will be shown as follows in
the invoice

17
illustration
Rs

Taxable value of supply Rs 210 x 21,00,000

10,000 units
Add GST

CGST @ 6% of Rs 21,00,000 1,26,000

SGST ( Rajasthan) @ 6% of Rs 1,26,000

21,00,000
Total amount charged by X 23,52 ,000

If X does not have any input tax credit , the Central Government will get
Rs 1,26,000. likewise , the State Government of Rajasthan will get Rs
1,26,000
X will remit these taxes through internet banking by using the same
challan

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 Suppose , in the above case , the seller X and purchaser
Y are in Chandigarh . GST will be as follows in the
invoice .

Rs
Taxable value of supply Rs 210 x 21,00,000
10,000

Add GST
CGST @ 6 % of Rs 21,00,000 1,26,000
UTGST @ 6% of Rs 21,00,000 1,26,000

Total amount charged by X 23,52 ,000

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Inter State supply

Supply from one State or UT to another State

or UT is inter-State supply .

In the case of inter- State supply , IGST is

payable to Central Government .

IGST is also applicable if the supply is beyond

12 nautical miles but upto 200 nautical miles

20
Provisions illustrated

X of Maharashtra sells 10,000 units of

an article at the rate of Rs 210 per
article, purchaser Y is of Karnataka .
GST rate is 12% .

This is inter -state supply ( i.e. supply

from Maharashtra to Karnataka) . GST
will be shown as follows in the invoice

21
illustration
Rs

Taxable value of supply Rs 210 x 21,00,000

10,000

Add GST

IGST @12 of Rs 21,00,000 2,52,000

Total amount charged by X 23,52 ,000

If X does not have any input tax credit , the Central Government will get
Rs 2,52,000. X will remit these taxes through internet banking by using the
same challan
Revenue from IGST will be apportioned among union and states by
Parliament on the basis of recommendation of GST Council

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GST rates

GST has been structured in a

way that essential services
and food items are placed in
the lower tax brackets, while
luxury services and products
have been placed in the
higher tax bracket.

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GST rates

The GST council has fitted over

1300 goods and 500 services
under four tax slabs of 5%, 12%,
18% and 28% under GST. This is
aside the tax on gold that is kept at
3% and rough precious and semi-
precious stones that are placed at
a special rate of 0.25% under GST.

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GST Rate Structure

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A total of 81% of all the goods and
services fall below or in the 18% tax
slab. This means 7 % of the items come
under the exempted list, 14% of the
items attract a 5% tax, 17% of the items
attract a 12% tax, and 43% of the items
attract an 18 % tax slab, while only 19%
of the items fall under the highest slab of
28% in the new regime.

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Exempted GST Rate Slab (No Tax)

7% goods and services fall under this category.

Some of these that are of regular consumption
include fresh fruits and vegetables, milk, butter
milk, curd, natural honey, flour, besan, bread, all
kinds of salt, jaggery, hulled cereal grains, fresh
meat, fish, chicken, eggs, along with bindi,
sindoor, kajal, bangles, drawing and coloring
books, stamps, judicial papers, printed books,
newspapers, jute and handloom, hotels and
lodges with tariff below INR 1000 and so on.

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GST rates for supply of goods

For inter- State supply , IGST rates are : nil ,

0.25 per cent , 3 percent , 5 percent ,12
percent ,18 percent , 28 percent .

For intra State supply , CGST will be 50% of

IGST, and SGST ( or UTGST) will be 50% of
IGST

Besides , compensation cess is applicable in

the supply of tobacco products , pan masala
, motor cars , coal , aerated waters, etc

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GST rates for supply of services

For inter State supply IGST is applicable , for intra

State supply , CGST and SGST are applicable .

CGST and SGST rates are 50% of IGST rates

General rate of IGST on services is 18% , however in

few cases services are taxed at 5% , 12% and 28% .

Moreover , a few cases services are exempt from

GST.

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Compensation cess

In addition to CGST , SGST , UTGST and IGST , GST

compensation cess is payable on tobacco products,
pan masala , motor cars , coal aerated waters , etc

If a state loses revenue because of abolition of

Central Sales tax, Central Government will pay
compensation for 5 years

Revenue generated through collection of GST

compensation cess will be utilised for payment of
such compensation.

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Import of goods

Import of goods is subject to payment of basic custom duty ,

education cess and secondary & higher education cess

Besides IGST and GST compensation cess will be applicable

By virtue of section 25(1) of customs act , exemption is

available on certain imports from payment of basic custom
duty ( by way of exemption notifications) . IGST has been
exempted in the case of sum such imports

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Administration control

Tax is payable to both Central and State

Government/ Union territory

However , administrative control will be

exercised either by the State Government/
Union territory Authorities or by Central
Government Authorities in the case of particular
tax payer

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GST not applicable to petroleum products

Petroleum products ( i.e. petroleum crude

, high speed diesel , motor sprit or petrol )
natural gas and aviation fuel turbine fuel ,
will continue under excise duty .

Presently these are out of GST and may

be brought within purview of GST by the
Government in future

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Alcoholic liquor

Presently , it is out
of GST State Excise
duty will continue

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Tobacco products

Tobacco products will

be subject to excise
duty , GST and GST
compensation cess

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State GST Acts

To impose SGST on supply of goods

and services within a state , each state
has passed its own state GST Act.

These state GST Acts are copies of

CGST Act ( all provisions are identical)

36
UTGST

The Union Territory Goods and Services Tax, commonly

referred to as UTGST, is the GST applicable on the goods
and services supply that takes place in any of the five
Union Territories of India, including Andaman and Nicobar
Islands, Dadra and Nagar Haveli, Chandigarh,
Lakshadweep and Daman and Diu.

This UTGST will be charged in addition to the Central

GST (CGST) explained above. For any transaction of
goods/services within a Union Territory: CGST + UTGST

37
Union Territory GST Act

The reason why a separate GST was implemented for

the Union Territories is that the common State GST
(SGST) cannot be applied in a Union Territory without
legislature. Delhi and Puducherry UTs already have
their own legislatures, so SGST is applicable to them.

UGST Act has been passed for Union Territories which

don’t have legislature

38
Registration

GST Registration is an online process where the GST Law

implies that any business entity should obtain a unique
number by concerned tax authority for collecting the tax and
for availing Input Tax Credit (ITC).

It is a PAN-based and state-specific registration. The supplier

is allotted with a 15-digit GST Identification Number (GSTIN),
and the certificate of registration is made available for the
applicant on the portal.

Voluntary registration is also allowed by GST Portal.

39
 FORMAT OF GSTIN
The first two digits represent the state
code as per Indian Census 2011. Every
state has a unique code. For instance,
• State code of Karnataka is 29
• State code of Delhi is 07

The next ten digits will be the PAN

number of the taxpayer

The thirteenth digit will be assigned

based on the number of registration
within a state

The fourteenth digit will be Z by default

The last digit will be for check code. It

may be an alphabet or a number.

40
Inter – state stock transfer

Supply of goods/services between two distinct persons (having

different GSTIN) in the course of business is subject to GST.

This covers even inter-state stock transfers / branch transfers .

For instance , supply of goods /services by Punjab branch ( of X

Ltd ) to Maharashtra Branch ( of X Ltd) is subject to GST ( of
course , input tax credit is available to Maharashtra Branch

Likewise , services provided by telecommunication companies

or banks to their branches in another State is subject to GST

41
Distinction between goods & services

GST is applicable whether it is supply of goods or services.

However , distinction has been made in a few cases

This distinction is relevant to ascertain place of supply , time

of supply , valuation and compensation scheme . There are
some supplies which are neither goods nor services . For
instance , services provided by an employee in the course of
employment is neither treated as supply of goods nor
services . These cases are specified in schedule III

42
Consideration

GST is applicable if good/ services are supplied for a

consideration. Consideration need not be in cash ( it
may be in kind). If consideration is nil, GST is not
applicable.

However , activities given in Schedule I are subject to

GST , even if there is no consideration For instance ,
supply of goods/services by a taxable person to a
related person are subject to GST even if the
consideration is nil or even supply is by way of gift

43
Consideration

In other words , free gifts to a related persons is

subject to GST . Employer and employee have
been treated as “related persons” for the purpose
of GST.

For instance , if an asset is gifted by a company to

its employee it is subject to GST . Even if
consideration is absent in this case , GST is
applicable ( however gifts upto Rs 50,000 in a
financial year to an employee is not subject to GST

44
Gift

Supply by way of gift between

unrelated persons is not subject
to GST. But input tax credit will
have to be reversed .
Gift between related person is
subject to GST

45
Small taxable persons

A person having “aggregate turnover” of not exceeding Rs 20

lakh is exempt from GST ( this limit is Rs 10 lakh for North-
eastern States ,UttaraKhand and Himachal Pradesh.

Aggregate turn over includes taxable supplies , exempt

supplies , stock transfers , exports etc

It is calculated on all India basis of a taxable person who has

same PAN for income tax . If GST is payable under reverse
charge mechanism , this exemption is not applicable

46
Reverse Charge

GST is normally payable by supplier of goods/ services . In some

cases , however , the recipient is liable to pay tax under reverse
charge mechanism . If the tax is payable under the reverse charge
mechanism , it has to be paid by cash ( via internet banking).

Input credit cannot be utilised to pay GST liability under reverse

charge mechanism .

However ,once tax is paid by the recipient on input under RCM ,

input tax credit is available to him ( if he is otherwise eligible for
input tax credit)

47
Reverse Charge
» The government has further deferred the reverse
charge mechanism under goods and services tax to
September 30, 2019 . Under this mechanism, GST is
levied on goods or services procured from unregistered
dealers by the buyer and deposited with the
government.

This is an anti-tax-evasion measure to ensure that

transactions by unregistered people don’t escape tax.
In a normal transaction, the supplier of goods or service
charges the tax and pays to the government, but in this
case, the responsibility reverses and falls on the buyer.

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Time of payment of GST

Normally , GST is payable when supply

is made or when payment is received ,
whichever comes earlier

GST of current month is payable by

20th of the following month . However ,
a few persons can pay tax on quarterly
basis

49
Composition Scheme

GST Composition
Scheme. Composition Scheme is a
simple and easy scheme under GST for
taxpayers. Small taxpayers can get rid
of tedious GST formalities and
pay GST at a fixed rate of turnover.
This scheme can be opted by any
taxpayer whose turnover is less than Rs.
1.0 crore.

50
Composition Scheme

A simplified scheme is available to a tax payer if his

aggregate turnover of the preceding financial year does
not exceed I crore. However in the case of Arunachal
Pradesh , Assam , Manipur, Nagaland , Skikim , Tirpura
and HP , this limit is 75 lakh. The scheme is optional

The scheme is not available to supplier of services (

except supply of food for human consumption) . Further
, this scheme is not avaible to the manufacturer of
certain goods ( ice cream, pan masala , tobacco
products)

51
Composition Scheme

A dealer opting for composition scheme cannot make inter state supply .
No input tax credit available to composite dealers . Moreover a dealer
under composition scheme is not eligible to supply goods through e-
commerce portal.

A person who is under Composition Scheme is not allowed to charge GST

in his invoice .

Such person will have to pay tax on his total turnover ( out of his pocket )
as follows – Manufacturer 1% , trader 1% , supplier of goods /drinks 5% .
No input tax credit is available to the person who gets supply of goods /
services from a dealer under Composition Scheme. A person opting for
composition scheme is required to file quarterly GST return

52
Tax invoice

A taxable person who supplies goods /services is

required to issue “ tax invoice “ .

Tax invoice should be prepared as per details specified

in rule 46

Tax invoice should have unique consecutive serial

number in one or multiple series , including alphabets or
numerical or special character hyphen or dash or slash.

53
Tax invoice

Tax invoice should contain HSN code of goods /services

However , a tax payer ( whose turnover of the preceding

financial year) does not exceed Rs 1.5 crore , is not required
to mention HSN code in the tax invoice.

Moreover , a taxpayer ( whose turnover of the preceeding

financial year exceeds Rs 1.5 crore but not exceed rs 5 crore
) is required to mention only two digits of HSN code( i.e only
the chapter code)

Harmonized System of Nomenclature The HSN Code is

an 8 digit number 54
Tax invoice

If such turnover exceeds Rs 5 crore ,

tax invoice should contain 4 digits of
HSN code .

Tax invoice should be issued within 30

days of supply of service ( 45 days in
the case of banking company / NBFC /
Financial institution

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GST is destination based

GST is a destination based tax Origin based

tax is one which is levied where goods /services
are produced . Conversely , a destination based
tax is one which is levied where goods /
services are consumed.

In destination based tax, zero tax is applicable

on exports and imports are taxed on par with
domestic production . SGST will accrue to the
state where goods / services are ultimately
consumed.

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Input tax credit

To avoid cascading effect , input tax

credit is available . It is based on VAT
concept of allowing input tax credit on
inputs services and capital goods .
Output supplier of goods / services
can avail credit of CGST, SGST,
UTGST, and IGST charged by input
supplier of goods , services & capital
goods

57
Utilization of credit

Input tax credit of SGST can be utilised for payment of SGST first
and balance for payment of IGST on outward supply

Input tax credit of UTGST can be utilised for payment of UTGST

first and balance for payment of IGST on outward supply

Input tax credit of CGST can be utilised for payment of CGST first
and balance for payment of IGST on outward supply

Input tax credit of IGST can be utilised for payment of IGST , CGST
, SGST on outward supply

Input tax credit of GST Compensation cess can be utilised only

for payment of GST Compensation cess on outward supply

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Utilization of credit

Input credit on IGST shall be utilised first towards payment of

IGST and the remaining amount, if any, can be utilised towards
payment of CGST and SGST.

Input Crediton CGST shall be utilised first towards payment of

CGST and the remaining amount, if any, can be utilised towards
payment of IGST.

Input credit on SGST shall be utilised first towards payment of

SGST and the remaining amount, if any, can be utilised towards
payment of IGST.

There is no cross credit utilization permitted between CGST and

SGST.

59
CENVAT Credit under GST

60
Input tax credit

Input credit of SGST/UTGST cannot be used for

payment of CGST .similarly , input tax credit of
CGST cannot be used for payment of SGST
/UTGST.

Barring few exceptions , tax credit is available for

all input goods , services and capital goods used in
the course of business. If a person supplies taxable
goods / services and exempt goods / services , he
can avail only proportionate tax credit.

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 Mechanism of utilisation of input credit
IGST CGST SGST UTGST COMPEN
SATION
CESS
xxxx xxxx xxxx xxxx xxxx
Tax on output

Less : Tax Credit

IGST on input 1st priority 2nd priority 3rd 4th priority Not
priority Availabl
e

2nd priority 1st priority Not Not available Not

CGST on input availab Availabl
le e

SGST on input 2nd priority Not available 1st Not available Not
priority Availabl
e

2nd priority Not available Not 1st priority Not

UTGST on input availab Availabl
le e

Not available Not available Not Not available 1st

Compensation 0 0 available 0 0 priority
0
cess
62
Provisions illustrated- intra –state supply

Intra – State supply : Consider the following

cases pertaining to supply within the State of
Maharashtra ( assume rate of GST as 12%)

(1) X of Maharashtra supplies good/services to

Y of Maharashtra . Taxable value of supply is
Rs 1,00,000 X does not have any input credit.
GST will be shown as follows in the invoice of X

63
Provisions illustrated
Rs
Taxable value of supply 1,00,000
Add GST
CGST @ 6% 6,000
SGST Maharashtra @ 6% 6,000
Total amount charged by X 1,12,000
X will remit CGST of Rs 6,000 and SGST of Rs 6,000 to the account of
Central Government and Government Of Maharashtra by using single
challan
He does not have any input tax credit

64
Provisions illustrated

Y, in the above case , supplies the goods

/services after making value addition at the
rate of 30% .

Recipient of supply is Z of Maharashtra .

GST will be shown as in the invoice of Y

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Provisions illustrated
Rs
Taxable value of supply ( Rs 1,00,000 + 30% 1,30,000
value edition)
Add GST
CGST @ 6% of Rs 1,30,000 7,800
SGST ( Maharashtra )@ 6% of Rs 1,30,000 7,800
Total amount charged by Y 1,45,600

In this case , Y will remit CGST to the Central CGST SGST

Government & SGST to Maharashtra Government Rs Rs
Tax on output 7,800 7,800
Less credit on input
CGST on input 6,000 0
SGST on input 0 6,000
Balance payable in cash through internet banking 1,800 1,800
66
 Statement showing revenue generated by Govt

Revenue generated by

Central Maharashtra
Government Government

On supplies of goods/ services by X to Y 6,000 6,000

On supply of goods / services by Y to Z 1,800 1,800

7,800 7,800

67
Provisions illustrated

Inter –state supply : Consider the following

cases pertaining to intra state / inter state
supply ( GST rate is assumed at 12%).

X of Bengaluru supplies goods/services to Y of

Mysore . Taxable value of supply is Rs 5,00,000
. X does not have any input tax credit. This is
intra state supply . GST will be shown as
follows in the tax invoice issued by X

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Provisions illustrated
Taxable value of supply Rs

Add GST 5,00,000

CGST @ 6% of Rs 5,00,000 30,000

SGST (Karnataka ) @6% of Rs 5,00,000 30,000

Total amount charged by X 5,60,000

X will remit CGST of Rs 30,000 & SGST of Rs 30,000 to the account of

Central Government & Government of Karnataka by using single challan .
He does not have input tax credit

69
Provisions illustrated

»Y , in the above case supplies the same goods

/ services after making value addition at the
rate of 40% . Recipient of supply is Z of
Trivandrum This is a inter state supply . GST
will be shown as in the invoice of Y.

Taxable value of supply Rs 5,00,000 + 40% 7,00,000

Add GST
IGST @12% of Rs 7,00,000 84,000
Total amount charged by Y 7,84,000

70
Provisions illustrated

»In this case Y will remit IGST to the central

government as follows
IGST Rs
Tax on output 84,000
Less tax credit
CGST on input 30,000
SGST on input 30,000
Balance payable by Y in cash 24,000
through net banking
Karnataka the exporting state will transfer SGST credit of Rs 30,000
utilised in payment of IGST to the central government . This is internal
transfer , the taxpayers Y or Z are not supposed to take any action on
this account

71
Provisions illustrated

»Z , in the above case supplies the same goods

after making value addition @ 30% . Receipent of
supply is A of Kerala . This is intra – state supply
within the state of Kerala . GST Will be shown as
follows in tax invoice issued by Z.

Taxable value of supply Rs 7,00,000+ 30% value 9,10,000

addition
Add GST
CGST @6% of Rs 9,10,000 54,600
SGST ( Kerala) @ 6% of Rs 9,10,000 54,600
Total amount charged by Z 10,19,200

72
»In this case ,Z will remit CGST to the central
government and SGST to Kerala Government as
follows
CGST Rs SGST Rs
Tax on output 54,600 54,600
Less tax credit
IGST input 54,600 29,400
Balance payable in Nil 25,200
cash through net
banking
The central government will transfer IGST credit of Rs 29,400
utilised in SGST payment to Kerala Government

73
Statement showing revenue generated by Govt
Revenue generated by
Central Karnataka Kerala
Governme Government Government
nt
On supplies of goods/ 30,000 30,000 -
services by X to Y
On supply of goods / services 24,000 - -
by Y to Z
Transfer by Karnataka 30,000 -30,000 -
government to central
government
On supply of goods /services nil - 25,200
by Z to A
Transfer by central -29,400 - 29,400
government to Kerala
government
54,600 0 54,600

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GST council

Goods and services tax council is an apex constitutional

body

Goods & Services Tax Council is a constitutional body for

making recommendations to the Union and State
Government on issues related to Goods and Service Tax.

The GST Council is chaired by the Union Finance Minister

and other members are the Union State Minister of Revenue
or Finance and Ministers in-charge of Finance or Taxation of
all the States.

75
Mandate of GST Council

»The Goods and Services Tax Council shall

make recommendations to the Union and the
States on—
»the taxes, cesses and surcharges levied by
the Union, the States and the local bodies
which may be subsumed in the goods and
services tax;
»the goods and services that may be subjected
to, or exempted from the goods and services
tax;

76
»model Goods and Services Tax Laws,
principles of levy, apportionment of Goods
and Services Tax levied on supplies in the
course of inter-State trade or commerce
under article 269A and the principles that
govern the place of supply;
»the threshold limit of turnover below which
goods and services may be exempted from
goods and services tax;

77
» the rates including floor rates with bands of goods and
services tax;
» any special rate or rates for a specified period, to raise
additional resources during any natural calamity or
disaster;
» special provision with respect to the States of
Arunachal Pradesh, Assam, Jammu and Kashmir,
Manipur, Meghalaya, Mizoram, Nagaland, Sikkim,
Tripura, Himachal Pradesh and Uttarakhand; and
» any other matter relating to the goods and services tax,
as the Council may decide.

78