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TMI BlogAmendment in Jammu and Kashmir Goods and Services Tax Rules, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... inverted rated supply of goods and services) x Net ITC Adjusted Total Turnover]-tax payable on such inverted rated supply of goods and services. Explanation : For the purposes of this sub-rule, the expressions (a) Net ITC shall mean input tax credit availed on inputs during the relevant period other than the input tax credit availed for which refund is claimed under sub-rules (4A) or (4B) or both ; and (b) Adjusted Total Turnover shall have the same meaning as assigned to it in sub-rule (4). ; (iii) for rule 97, the following rule shall be substituted, namely : 97. Consumer Welfare Fund. (l) All amounts of duty/central tax/integrated tax/union territory tax/cess and income from investment along with other monies specified in sub-section (2) of section 12C of the Central Excise Act,1944 (1 of 1944), section 57 of the Jammu and Kashmir Goods and Services Tax Act, 2017 (Act No. V of 2017) read with section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), and section 12 of the Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017) shall be credited to the Fund : Provided that an amo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m which activities claimed to be for the welfare of consumers are stated to be carried on, to a duly authorized officer of the Central Government or the State Government, as the case may be ; (d) to get the accounts of the applicants audited, for ensuring proper utilization of the grant ; (e) to require any applicant, in case of any default, or suppression of material information on his part, to refund in lump sum along with accrued interest, the sanctioned grant to the Committee, and to be subject to prosecution under the Act ; (f) to recover any sum due from any applicant in accordance with the provisions of the Act ; (g) to require any applicant, or class of applicants to submit a periodical report, indicating proper utilization of the grant ; (h) to reject an application placed before it on account off actual in consistency, or in accuracy in material particulars ; (i) to recommend minimum financial assistance, by way of grant to an applicant, having regard to his financial status, and importance and utility of the nature of activity under pursuit, after ensuring that the financial assistance provided shall not be misutilise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act of Parliament or declared to be deemed as a University under section 3 of the University Grants Commission Act, 1956 (3 of 1956) and which has consumers studies as part of its curriculum for a minimum period of three years ; and (vi) a complainant as defined under clause (b) of sub-section (l) of section 2 of the Consumer Protection Act, 1986 (68 of 1986), who applies for reimbursement of legal expenses incurred by him in a case instituted by him in a consumer dispute redressal agency. (c) application means an application in the form as specified by the Standing Committee from time to time ; (d) Central Consumer Protection Council means the Central Consumer Protection Council, established under sub-section (1) of section 4 of the Consumer Protection Act, 1986 (68 of 1986), for promotion and protection of rights of consumers ; (e) Committee means the Committee constituted under sub-rule (4) ; (f) Consume has the same meaning as assigned to it in clause (d) of sub-section (l) of section 2 of the Consumer Protection Act, 1986 (68 of 1986), and includes consumer of goods on which central tax has been paid ; (g) duty me ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Code (UQC) Qty Value (As adjusted by debit / credit note) Input tax credit/ Tax payable (whichever is higher) (Rs.) No. Date Central tax State/ Union territory tax Integrated tax Cess 1 2 3 4 5 6 7 8 9 10 11 12 8 (a) Inputs held in stock (where invoice is available) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5 6 7 8 9 10 1. Central Tax 2. State/Union territory Tax 3. Integrated Tax 4. Cess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... contained in semi-finished or finished goods held in stock are not available, the registered person shall estimate the amount under sub-rule (3) of rule 44 based on prevailing market price of the goods; (ii) in case of capital goods/ plant and machinery, the value should be the invoice value reduced by 1/60th per month or part thereof from the date of invoice/purchase taking useful life as five years. 4. The details furnished in accordance with sub-rule (3) of rule 44 in the Table at Sl. No. 8 (against entry 8 (d)) shall be duly certified by a practicing chartered accountant or cost accountant. Copy of the certificate shall be uploaded while filing the details. (v) for FORM GST DRC-07, the following shall be substituted, namely : FORM GST DRC 07 [See rule 142(5)] Summary of the order 1. Details of order (a) Order No. (b) Order date (c) Tax period - 2. Issues involved drop down classification, valuation, rate of tax, suppression of turnover, excess ITC claimed, excess refund released, place of supply, others (s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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