Need a Advice on
Union Territory Goods And Services Tax UTGST

Request a call back


Just fill up the form or Leave a MISSED CALL on :


 
Term insurance
Term insurance
Auto Insurance
Auto insurance
Health Insurance
Health Insurance
business-insurance
Business Insurance
home-insurance
Home Insurance
travel-insurance
Travel Insurance
accidental-insurance
Accidental Insurance
car-insurance
Car Insurance
child-insurance
Child Insurance
pension-plans
Pension Plans
ULIP-insurance
ULIP Insurance
traditional-endowment
Traditional Endowment
national-pension-scheme
National Pension Scheme
equity-linked-savings-scheme-ELSS
Equity Linked Savings Scheme ELSS
fixed-deposit
Fixed Deposit
saving-bank-account
Saving Bank Account
recurring-deposit
Recurring Deposit
current-account
Current Account
corporate-fixed-deposit
Corporate Fixed Deposit
infrastructure-bonds
Infrastructure Bonds
national-savings-certificates
National Savings Certificates
public-provident-fund
Public Provident Fund
mutual-funds
Mutual Funds
debt-funds
Debt Funds
hybird-funds
Hybird Funds
money-market-fund
Money Market Fund
gold-ETF's
Gold ETF's
contra-funds
Contra Funds
dividend-yield-funds
Dividend Yield Funds
large-cap-funds
Large Cap Funds
IPO's
IPO's
demat-and-trading-account
Demat And Trading Account
commodity-trading-acount
Commodity Trading Acount
car-loan
Car Loan
education-loan
Education Loan
home-loan
Home Loan
personal-loan
Personal Loan
loan-against-property
Loan Against Property
business-loan
Business Loan
two-wheeler-loan
Two Wheeler Loan
loan-against-securities.php
Loan Against Securities
gold-loan
Gold Loan
vehicle-finance
Vehicle Finance
credit-card
Credit Card
reverse-mortgage
Reverse Mortgage
tax-planning
Tax Planning
retirement-planning
Retirement Planning
child-education-plan
Child Education Plan
estate-planning
Estate Planning
investment-planning
Investment Planning
residential-apartment
Residential Apartment
independent-house
Independent House
residential-land
Residential Land
CGST-vs-SGST-vs-IGST
CGST vs SGST vs IGST
benefits-of-GST
Benefits Of GST
Change-From-July
Change From July
central-goods-and-service-tax-CGST
Central Goods And Service Tax CGST
integrated-goods-and-services-tax-IGST
Integrated Goods And Services Tax IGST
state-goods-and-service-tax-SGST
State Goods And Service Tax SGST
union-territory-goods-and-services-tax-UTGST
Union Territory Goods And Services Tax UTGST
goods-and-services-tax-GST
Goods And Services Tax GST

What is Union Territory Goods & Services Tax (UTGST)?

UTGST stands for “Union Territory Goods and Service Tax”. The UTGST bill is presented in some specific parts of India like Union Territories like Andaman and Nicobar Islands, Chandigarh, Dadra and Nagar Haveli, Daman and Diu, Delhi(National Capital Territory Of Delhi), Lakshadweep and Puducherry. The main purpose of UTGST bull is to apply a collection of tax on every Intra UT supply of goods and service in the Union territories in absence of legislature and has similar properties as that of SGST. The Parliament is looking forward to implement a separate act to impose and supervise GST in Union territories under the name of UTGST act. The bill will be presented in respective Union territories for further changes in the implementation of GST.

What does SGST include?

How does UTGST Works:
UTSC works the same way as SGST (State GST) .The government levy taxes in the same manner they collect from other states. For example, when an intra – state (within same states) sales or business takes place, the government collects goods and services tax in the form of CGST + SGST. Similarly, when for any supply of goods and services takes place within a Union territory , the Central government will collect GST and Union Government will collect UTGST. Input tax credit for UTGST is equivalent to SGST.

Features of UTGST:

1. The Union Territory Goods & Services Tax Bill, 2017 was introduced in Lok Sabha on March 27, 2017. The Bill provides for the levy of the Union Territory Goods and Services Tax(UGST).
2. Levy of UTGST: The centre will levy UTGST on the supply of goods and services within the boundary of a Union territory.
3. Tax Rates: The tax rates of UTGST will be recommended by the GST Council and will not exceed 20%.
4. Exemptions from UTGST: The centre may exempt certain goods and services from the purview of UGST through notification based on recommendations of the GST Council.
5. Assistance to search, seizure and arrest: All officers of Police, Railways, Customs, and those officers engaged in the collection of land revenue, including village officers, and officers of Central tax will assist the tax administrative officers in the implementation of this Act.
6. Applicability of provisions of Central Goods and Services Tax Act 2017:
Several provisions of the Central Goods and Services Tax Act, 2017 apply to this Act. Such provisions include
(a) time and value of supply
(b) composition levy
(c) registration
(d) returns
(e) payment of tax
(f) assessment
(g) refunds
(h) inspection
(i) search and seizure
(j) advancing ruling
(k) appeals and offenses
7. Transition to the new regime: Taxpayers with unutilised input credit obtained under the current laws may utilize it under GST.

Updated New GST Rates as from April 1st, 2018:

Items Old Tax Rate Country
Second Hand medium and large cars and SUV’s 28% 18%
LPG supply for household domestic consumers by private LPG distributors 18% 5%
Bio-fuels powered buses 28% 18%
Sugar boiled confectionary 18% 12%
Drinking water packed in 20 Liter bottles 18% 12%
Drip Irrigation System 18% 12%
Cigarette filled rods 12% 18%
Tailoring service 18% 5%
Admission to Theme parks, Water parks, etc 28% 18%

Our Media