What is mechanism for amending registration certificate under GST law?

What is the mechanism for amending the registration certificate under the goods and services tax (GST) law? 

If there is change in any of the particulars furnished in the application for registration, a person is required to file an application within 15 days. The amendment is required to be filed online on the GST portal. 

Upon submission of the amendment application, the proper officer may approve or reject amendments in the registration particulars within 15 working days from the date of receipt. Permission of the officer for making amendments will be required for those in core fields of information. For the other fields, the certificate of registration will stand amended upon submission of application on the GST common portal.

I am a chartered accountant providing consultancy services and had annual aggregate turnover of Rs 60 lakh in the preceding financial year. Will there be any requirement of mentioning the SAC on the invoices raised under the GST regime? 

GST law requires a supplier to indicate the harmonised system of nomenclature (HSN) code for goods/services supplied on the invoices issued. However, a specific relaxation has been provided to a supplier having an annual aggregate turnover of less than Rs 1.5 crore during the preceding financial year. As your annual aggregate turnover in the preceding financial year does not exceed the aforementioned threshold, you should not be required to mention HSN of services rendered by you on the invoices.

I am engaged in exporting goods and services. Let me know which exchange rate would be used in determining the value of goods and services.

Under Rule 34 of the Central Goods and Service Tax Rules, 2017, as amended, the rate of exchange for determination of value of taxable goods should be the applicable rate as notified by the Central Board of Excise and Customs under Section 14 of the Customs Act, 1962, and the rate of exchange for determination of value of taxable services should be the applicable rate of exchange determined by the generally accepted accounting principles.

Amit Bhagat

Can we utilise the previous month’s input tax credit of reverse charge to discharge the liability of the current month under reverse charge?

Under GST law, a registered taxable person is required to discharge reverse charge liability through electronic cash ledger only. Such a liability cannot be discharged by utilisation of input tax credit.

I am a small manufacturer, who supplies cycle parts to two units in the same area. For every supply, I generate an invoice and take Rs 500 flat for cartage and loading charges. Will the expenses in respect of cartage and loading charged in the invoice be taxable under GST?  

Any expenses charged by a supplier in relation to the supply of goods and/or services should be included in the taxable value for the purpose of discharging GST liabilities. Accordingly, you will be required to charge GST on the invoice in respect of cartage and loading charges from the customer.
 

The writer is tax partner, PwC India. Aditya Khanna, associate director, PwC contributed to this column. The views expressed are experts’ own. Send your queries to yourmoney@bsmail.in