Telangana GST Act 2017, Telangana Goods and Service Tax Act 2017

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Telangana GST Act 2017, Telangana Goods and Service Tax Act 2017

Telangana GST Act 2017, Telangana Goods and Service Tax Act 2017. TN GST Bill 2017 is Passed by Telangana State. Telangana is the First State who passed SGST Bill 2017. Telangana Govt Passed Telangana Act on 9th April 2017. Telangana State is passed his own GST Act 2017, Telangana sgst act 2017 is available for download in English. The Telangana Goods and Services Tax Bill, 2017 (Act No.8 of 2017) A Bill to make a provision for levy and collection of tax on intra-State supply of goods or services or both by the state of Telangana and the matters connected therewith or incidental thereto BE it enacted by Legislature of Telangana State in the Sixty-eighth Year of the Republic of India as follows:- :-

Telangana GST Act 2017

1. Short title, extent and commencement.- 

  1. (1) This Act may be called the Telangana Goods and Services Tax Act, 2017.
  2. (2) It extends to the whole of the Telangana State
  3. (3) It shall come into force on such date as the State Government may, by notification in the Official Gazette, appoint:

GST Payment Formats

Provided that different dates may be appointed for different provisions of this Act and any reference in any such provisions to the commencement of this Act shall be construed as a reference to the coming into force of that provision.

2. Definitions.– Click Here to Download Telangana Full GST Act 2017 and check all Definitions.

 “capital goods” means goods, the value of which is capitalised in the books of accounts of the person claiming the input tax credit and which are used or intended to be used in the course or furtherance of business;

“casual taxable person” means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business, whether as principal, agent or in any other capacity, in the taxable territory where he has no fixed place of business;

“central tax” means the central goods and services tax levied under section 9of the Central Goods and Services Tax Act;

“cess” shall have the same meaning as assigned to it in the Goods and Services Tax (Compensation to States) Act;

“chartered accountant” means a chartered accountant as defined in clause (b) of sub-section (1) of section 2 of the Chartered Accountants Act, 1949; 38 of 1949.

“Commissioner” means the Commissioner of State tax appointed under section 3; (25) “Commissioner in the Board” means the Commissioner referred to in section 168 of the Central Goods and Services Tax Act;

“common portal” means the common goods and services tax electronic portal referred to in section 146;

FAQ’s on Zero Rated Supply under IGST

“common working days” shall mean such days in succession which are not declared as gazetted holidays by the Central Government or the Government of Telangana

“company secretary” means a company secretary as defined in clause (c ) of sub-section (1) of section 2 of the Company Secretaries Act, 1980;

“competent authority” means such authority as may be notified by the Government;

“composite supply” means a supply made by a taxable person to a recipient consisting of two or more taxable supplies of goods or services or both, or any combination thereof, which are naturally bundled and supplied in conjunction with each other in the ordinary course of business, one of which is a principal supply;

Illustration: Where goods are packed and transported with insurance, the supply of goods, packing materials, transport and insurance is a composite supply and supply of goods is a principal supply.

“consideration” in relation to the supply of goods or services or both includes-

  • (a) any payment made or to be made, whether in money or otherwise, in respect of, in response to, or for the inducement of, the supply of goods or services or both, whether by the recipient or by any other person but shall not include any subsidy given by the Central Government or a State Government;
  • (b) the monetary value of any act or forbearance, in respect of, in response to, or for the inducement of, the supply of goods or services or both, whether by the recipient or by any other person but shall not include any subsidy given by the Central Government or a State Government:

Provided that a deposit given in respect of the supply of goods or services or both shall not be considered as payment made for such supply unless the supplier applies such deposit as consideration for the said supply;

“continuous supply of goods” means a supply of goods which is provided, or agreed to be provided, continuously or on recurrent basis, under a contract, whether or not by means of a wire, cable, pipeline or other conduit, and for which the supplier invoices the recipient on a regular or periodic basis and includes supply of such goods as the Government may, subject to such conditions, as it may, by notification, specify;

“continuous supply of services” means a supply of services which is provided, or agreed to be provided, continuously or on recurrent basis, under a contract, for a period exceeding three months with periodic payment obligations and includes supply of such services as the Government may, subject to such conditions, as it may, by notification, specify;

 

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