Amendment status not verified — confirm the current text below against the official source.
The Puducherry Goods and Services Tax Bill, 2017, inter alia, provides for the following, namely:— (a) to levy tax on all intra-State supplies of goods or services or both except supply of alcoholic liquor for human consumption and petroleum products at a rate to be notified, not exceeding twenty per cent. as recommended by the Goods and Services Tax Council (the Council); (b) to broad base the input tax credit by making it available in respect of taxes paid on any supply of goods or services or both used or intended to be used in the course or furtherance of business; (c) to impose obligation on electronic commerce operators to collect tax at source, at such rate not exceeding one per cent. of net value of taxable supplies, out of payments to suppliers supplying goods or services through their portals; (d) to provide for self-assessment of the taxes payable by the registered person; (e) to provide for conduct of audit of registered persons in order to verify compliance with the provisions of the Act; (f) to provide for recovery of arrears of tax using various modes including detaining and sale of goods, movable and immovable property of defaulting taxable person; (g) to provide for powers of inspection, search, seizure and arrest to the officers; (h) to establish the Authority for Advance Ruling to give advance ruling on matters or on questions in relation to the supply of goods or services or both; (i) to establish the Appellate Authority for Advance Ruling for hearing appeals against the advance ruling pronounced by the Advance Ruling Authority; (j) to make provision for penalties for contravention of the provisions of the proposed legislation; (k) to provide for an anti-profiteering clause in order to ensure that business passes on the benefit of reduced tax incidence on goods or services or both to the consumers; and (l) to provide for elaborate transitional provisions for smooth transition of existing taxpayers to goods and services tax regime.