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The FAQ states that, if a person does not appear before a CGST/ SGST officer who has issued the summon, he is liable to a penalty of up to Rs 25,000.
The report also mentions that tax base of both CGST and SGST should cover all goods and services until it reaches the final consumer.
"The Central Government shall establish a common IT infrastructure which will serve the needs of both CGST and SGST. A Taxpayers Information Network (TIN) will be established by the centre keeping in view the information requirement of CBEC and the state tax administration.
A majority of auto dealers purchase vehicles from OEMs on IGST and sell it to the end customers on SGST which they will not be able to set off by utilising the existing credits as according to the new law the IGST has to be used first for setting off tax liability, followed by CGST and the remaining for SGST.
On the issue of exemption threshold under GST, he urged for a consensus on a uniform threshold of ` 10 lakh for both goods and services under both CGST and SGST. The state finance ministers had asked the Centre to consider retaining the exemption threshold at ` 1.5 crore ( presently under Central excise) for goods under CGST, while the SGST threshold for both goods at ` 10 lakh.
An official release said, "The total gross GST revenue collected in the month of September, 2018 is Rs 94,442 crore of which CGST is Rs 15,318 crore, SGST is Rs 21,061 crore, IGST is Rs 50,070 crore (including Rs 25,308 crore collected on imports) and Cess is Rs 7,993 crore (including Rs 769 crore collected on imports).
Andy Harthill of City-based financial strategists SGST warned there was "a sticky summer" ahead.
The government settled Rs 18,098 crore to CGST and Rs 14,438 crore to SGST from IGST as regular settlement.
The government settled Rs 20,370 crore to CGST and Rs 15,975 crore to SGST from IGST as regular settlement.
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