Draft of revised Model IGST law

Here we have uploaded the New revised model IGST law. It is published by the government of India. It will replace the earlier law which was released in June . This new draft publish in November 2016 will be passed by the parliament of India. It is expected to be passed in current winter session itself. The new revised model IGST draft will have XI chapters and twenty four sections.You can download it from here.Three drafts are available at public domain.

1. Revised Model GST Law
2. Revised Model IGST Law
3. Draft Compensation bill.

Some of the important definitions are covered by the revised model IGST law.Major definitions are covered in section 2 of the new draft  IGST law.  Principles for determining supply of goods and/ or services in inter state trade or commerce  are provided in chapter II in section 3 and section 4. Basic levy of IGST has been covered by Chapter III having section 5 and section 6. Section 5 provide for the Levy and collection of Integrated Goods and Services Tax and section 6 covers the power to grant exemption from Tax. There are major changes in section 7,8,9 and 10. These sections will cover the place of supply for Goods and/or services. Place of supply was earlier covered by the section 5 and 6 of IGST Act. Now these provisions are divided into four parts.

Section 7: Place of supply of goods other than supply of goods imported into, or exported from India
Section 8: Place of supply of goods imported into, or exported from India
Section 9: Place of supply of services where the location of the supplier of service and the location of the recipient is in India
Section 10:  Place of supply of services where the location of the supplier or the location of the
recipient is outside India

Input tax credit is covered by section 13 and section 14 in the new draft. Provisions for zero rated supply has been covered in  section 16 of the new IGST law. Transitional provisions are covered by section 21.