Key Highlights of the Model GST Law

REGISTRATION

Threshold limit

  • Rs 10 Lakh for Special Category States *
  • Rs 20 Lakh Lakh for other than Special Category States (*Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttarakhand)

Place of registration

  • A taxable person has to take registration in the State(s) from where taxable goods or services are supplied.

AGGREGATE TURNOVER

Aggregate value

  • Includes all Taxable Supplies, Exempt Supplies and Export supplies.

SUPPLY

Supply includes

  • all forms of supply of goods and/or services such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business,
  • importation of services, for a consideration whether or not in the course or furtherance of business, and
  • Supply specified in Schedule I, made or agreed to be made without a consideration.

The tax liability on a composite or a mixed supply shall be determined in the following manner

  • a composite supply comprising two or more supplies, one of which is a principal supply, shall be treated as a supply of such principal supply;
  • a mixed supply comprising two or more supplies shall be treated as supply of that particular supply which attracts the highest rate of tax.

COMPOSITION LEVY

Turnover

  • Aggregate turnover of a registered taxable person in the previous financial year is less than fifty lakh rupees.

Rate of tax

  • Not Less than 2.5 % of Turnover in a State during the financial year for Manufacturer* and 1 % for others. (As may be notified on the recommendation of the Council)

TIME OF SUPPLY OF GOODS

Forward charge

Earliest of following:

  • Date of invoice
  • If not issued, last date for issuance of invoice
  • Date of receipt of payment [earlier of entry in books or actual receipt in bank of supplier]

Reverse charge

Earliest of the following:

  • Date of receipt of goods
  • Date of Payment [earlier of entry in books or actual payment in bank]
  • 31st day from the date of issue of invoice by the supplier
  • If not any of the above, date of entry in books of recipient

TIME OF SUPPLY OF SERVICES

Forward charge

Earliest of following:

  • Date of invoice
  • If not issued, last date for issuance of invoice
  • Date of receipt of payment [earlier of entry in books or actual receipt in bank of supplier]

Reverse charge

Earliest of the following:

  • Date of Payment [earlier of entry in books or actual payment in bank]
  • 61st day from the date of issue of invoice by the supplier
  • If not any of the above, date of entry in books of recipient

INPUT TAX CREDIT UTILISATION

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

TAX DEDUCTED AT SOURCE

  • Central or State Government may mandate departments of Central / State Government or local authority or Governmental agencies or any other notified person to deduct tax at source at the rate of 1% from the payment made or credited to the supplier of taxable goods / services.

TAX COLLECTED AT SOURCE

  • Every electronic commerce operator engaged in facilitating supply of any goods / services is required to collect tax at source (out of the total amount payable to the supplier) at the time of credit of such amount or at the time of payment, whichever is earlier.
  • Every operator shall furnish a statement of all the amounts collected within 10 days after the end of the calendar month.
  • Supplier is required to deposit tax in case of mismatches between information forwarded by e-commerce operator and the returns filed by the supplier.

Applicability
This privacy policy is applicable to the website www.kdms.in. We respect the right to privacy of everyone who visits this site. KDMSL is committed to protecting your privacy and working towards offering you an effective and safe online experience.

However, users and viewers are informed that by using the web site www.kdms.in, they are deemed to have consented to the collection and use of information by KDMSL as stated in the policy.

Information Collection and Use
To avail some of the services it may be necessary for you to provide us with details that personally identify you. Any personal information that you share with us, like your name, date of birth, address, marital status, telephone number, credit card particulars, biometric information and alike shall be entitled to privacy and kept confidential.

KDMSL does not collect personal information about individuals except when such individuals specifically provide such information on a voluntary basis. Personal information of users on the KDMSL website will not be sold or otherwise transferred to unaffiliated third parties unless we are legally entitled or required to do so or if we believe that such action is necessary to protect and/or defend our rights, property or personal safety and those of our users/customers etc or without the approval of the user as the case may be.

While KDMSL assures you that it will do its best to ensure the privacy and security of your personal information, it shall not be responsible in any manner whatsoever for any violation or misuse of your personal information by unauthorised persons consequent to misuse of the internet environment.
By providing information through this site, you acknowledge and consent to the collection, use and disclosure of personally identifying information of the type and for the limited purposes as described in this Policy.

KDMSL may collect unnamed statistics, which does not personally identify you. KDMSL reserves the right to perform statistical analysis of user behavior and characteristics in order to measure interest in and use of the various areas of the site.

KDMSL notifies that the information you provide to us may be transmitted and stored in a country other than where you reside for maintenance and any other purpose as may be permitted under applicable laws, rules and regulations from time to time.

Usage by minors
KDMS.in is not intended for use by children and minors. Parents are requested to ensure that personal information is not provided by minors on kdms.in. However, this does not intend to prohibit information on minors and children being provided by the parents with respect to any service offered by kdms.in or any other third party permitted to offer any product or service on its site, which are beneficial to or are designed for the benefit of children and minors.

Use of Cookies
Users are also made aware that certain information and data may be automatically collected through the standard operation of KDMSL internet servers or through the use of "cookies." "Cookies" is a term generally used for small text files a web site can use to recognize repeat users, facilitate the user's ongoing access to and use of the site, allow a site to track usage behavior and compile aggregate data that will allow content improvements, etc. Cookies themselves do not personally identify you, but they do identify your computer. You can erase or block this information by changing the settings on your computer. If you do erase or block this information you may not be able to utilise some features of the site.

Link to other sites
For your convenience, this page may contain certain hyperlinks to other sites. While we try to link only to sites that share our high standards and respect for privacy, we are not responsible for the content or the privacy practices employed by other sites.
We recommend that you check the policy of each site you visit and contact the owner or operator of such website if you have any concerns or questions.

Newsgroups, Message Boards, Chats
KDMSL believes in promoting amity among users to promote collaboration and free exchange of ideas. At any time this site may offer chat rooms, message board facilities, newsgroups etc. During such activities, you may provide your personal information beyond what has been given in your personal profile. KDMSL Privacy Policy excludes information transmitted through these activities. While KDMSL encourages you to actively participate in such activities, it advises you to be careful in sharing your personal information and respect the privacy of its other users.

Data Security
KDMSL has endeavored to take reasonable measures to prevent unauthorized access to and improper use of your personal data submitted to KDMSL via your use of this site.
KDMSL shall adopt suitable measures to diagnose any problems with its server and to administer the website kdms.in including by blocking certain addresses that it feels are inappropriately using its website.

Changes in the policy
KDMSL reserves the right to change this policy at any time. If KDMSL decides to change this policy, such changes will be posted on this page as soon as possible. Users may note that this Privacy Policy itself and any such change of policy may be effective from the date announced by KDMSL and not from the date of posting on the site.
This statement and the policies outlined herein are not intended to and do not create any contractual or other legal rights in favour of any user or viewer of KDMSL or on behalf of any other party.

Termination in case of paid subscribers/clients of KDMSL
Either the user (paid subscribers or clients of KDMSL) or KDMSL may terminate this arrangement by either of them giving to the other 10 days prior notice in writing. It shall be on the discretion of KDMSL that the period of notice of 10 days may be waived or a shorter period of notice may be accepted in writing from the user.

Non-exclusive remedy
Termination or expiration of this arrangement, in part or in whole, shall not limit either party from pursuing other remedies available to it, nor shall either party be relieved of its obligation to pay all fees that are due and owing under this arrangement through the effective date of termination. Neither party shall be liable to the other for any damages resulting solely from termination as permitted herein.

Indian Law
Any dispute whatsoever, arising out of this arrangement shall be governed by the Laws of India. The Courts of law at Hyderabad shall have exclusive jurisdiction over any disputes arising under this arrangement.

The following terms and conditions will be deemed to have been accepted by the User on usage of the website www.kdms.in. ("The site") As a User you are requested to read them carefully before you use the services of this site.

Subscription
Any User subscribing to, using, or accessing the services available through this site, is registered as a single user of the services.
The applicable rate of the Subscription Fees for some of the Services provided herein shall be such as mentioned on the site and/or as discussed with the concerned users from time to time. User's Liability for the Subscription Fees, if any, shall accrue from the Date of Commencement.

Processing of transactions
All transactions/changes, as applied to/requested, by the user shall be processed as per the applicable rules, laws and regulations, business practices and as agreed with the users/clients.

Use of Password
In the event a User is given a password, the User shall ensure that such password is kept in a secure manner. To protect the secrecy of his user identification and/or password the user shall take all such measures as may be necessary and shall not reveal the same to any other person(s).

Since a user identification is necessary to access some of the services available through the site; the user shall use only his own user identification while availing such services. In the event of theft and/or loss of user identification and/or password and/or security word, the user shall notify KDMSL immediately by telephone and/or concurrently provide KDMSL with a written notice to that effect. The user shall remain liable for use/misuse of the services by any third party until such theft or loss is notified to KDMSL.

The password and username being made available to the user shall be used only by the user / organization named as the user and the authorised employees of said organization.

Unauthorised Access
As a condition for your use of this site, you will not use the site for any purpose that is unlawful or prohibited by these terms, conditions, and notices. You may not use the site in any manner that could damage, disable, overburden, or impair the network(s) connected to this site or interfere with any other party's use and enjoyment of this site. You may not attempt to gain unauthorised access to this site, other accounts, computer systems or networks connected to the site, through hacking, password mining or any other means. You may not obtain or attempt to obtain any materials or information through any means not intentionally made available through the site.

Discontinuation or Modification to Services
KDMSL reserves the unilateral right to add to and/or change and/or delete and/or end the service(s) available through the site at anytime with or without notice to the User. Except for paid services, a pro-rata refund shall be affected for the remaining unused period.

Suspension of Service
If any monies payable by the user to KDMSL are not paid on the due date or if on KDMSL's sole discretion any of the users of this site is found to be using this site for illegal purposes or is observed having violated any of the terms and conditions as are applicable for usage of this site, KDMSL may without prejudice to any other rights or remedies that may be available to it suspend the service(s) provided to such user.
Upon subsequent payment by the user of such monies as demanded by KDMSL, KDMSL may at its discretion and subject to such terms as it deems proper, reconnect the service(s).

Confidentiality
The Receiving Party/User shall keep confidential and not disclose to any third party the Confidential Information nor any part of it, unless upon prior permission in writing from KDMSL. The Receiving Party/User agrees to take all possible precautions with regard to protecting the confidential information from any third party.

Further no use, reproduction, transformation or storage of the Proprietary Information shall be made by the user without the prior written permission of KDMSL, except where required to be disclosed pursuant to any applicable laws or legal process issued by any court or the rules of any competent regulatory body.

Variation
KDMSL reserves the right to amend, vary or change the terms and conditions contained herein and appearing elsewhere on the site, upon notice (in such form as may be determined by KDMSL) to the user.

The terms and conditions of use of this site will be periodically updated and changed and the changed or updated terms shall be posted at the site. The User should visit the site periodically to review the latest Terms of Use. For the avoidance of doubt, the User's continued use of the Service constitutes an affirmation and acknowledgement of the amended terms of use.

Termination in case of paid subscribers/clients of KDMSL
Either the user (paid subscribers or clients of KDMSL) or KDMSL may terminate this arrangement by either of them giving to the other 10 days prior notice in writing. It shall be on the discretion of KDMSL that the period of notice of 10 days may be waived or a shorter period of notice may be accepted in writing from the user.

Non-exclusive Remedy
Termination or expiration of this arrangement, in part or in whole, shall not limit either party from pursuing other remedies available to it, nor shall either party be relieved of its obligation to pay all fees that are due and owing under this arrangement through the effective date of termination. Neither party shall be liable to the other for any damages resulting solely from termination as permitted herein.

Indian Law
Any dispute, whatsoever, arising out of this arrangement shall be governed by the Laws of India. The Courts of law at Hyderabad shall have exclusive jurisdiction over any disputes arising under this arrangement.