GST Statutory Rules: CGST, SGST & IGST Acts 2017 Comprehensive Analysis

जीएसटी अधिनियम 2017 कानूनी नियम एवं प्रावधान

Comprehensive statutory guide to the Goods and Services Tax Act 2017: understanding the legal definition of 'Supply' under Section 7, valuation mechanisms under Section 15, Input Tax Credit apportionment under Section 17, and enforcement powers under Chapter XIV.

Written by: Author Profile

Direct Tax & CA Review Panel

Chartered Accountancy Review Panel • Senior Direct Tax Review Desk

Reviewed & Fact-Checked by: Technical Review Panel

Tax Law & Dispute Review Desk

Tax Litigation & Legal Review Panel • Tax Appeal & Procedure Review Desk

Published: 1st April 2026•Last Updated: 15th August 2026•Last Reviewed: 15th August 2026

Key Statutory Highlights (FY 2026-27)

Section 7 (Scope of Supply): All forms of supply of goods or services made for a consideration in the course or furtherance of business.

Section 9 (Levy & Collection): Concurrently levied by Centre (CGST) and States (SGST) on intra-state supplies, and by Centre (IGST) on inter-state supplies.

Section 16 & 17 (Input Tax Credit): Eligibility conditions, proportionate reversal for exempt supplies (Rule 42/43), and blocked credit under Section 17(5).

Section 29 & 30 (Cancellation & Revocation): Statutory procedures for registration cancellation and restoration within 90/180 days.

Section 107 (Appeals to Appellate Authority): Statutory 3-month window to file appeal against orders passed by adjudicating authorities with 10% pre-deposit.

Who is Eligible & When Does it Apply?

Applicability #1

All taxable persons registered under GST across India.

Step-by-Step Procedure & Compliance Roadmap

Determine Character of Supply

Verify whether transaction is supply of goods (Schedule II) or supply of services.

Apply Statutory Valuation Rules

Use Rule 27-31 if transaction is between related parties or consideration is non-monetary.

Ensure Statutory Record Keeping

Maintain invoices, registers, and electronic ledgers for 72 months as per Section 36.

Mandatory Documents Checklist

CGST Act 2017 bare text, CBIC notifications, Appellate Tribunal orders

Common Mistakes & Compliance Risks to Avoid

•Failing to maintain records for 72 months from the due date of furnishing annual return.

Frequently Asked Questions

What is the limitation period for issuing demand notices under GST?

Under Section 73 (non-fraud), notice must be issued at least 3 months prior to the time limit of 3 years from due date of annual return. Under Section 74 (fraud), notice must be issued at least 6 months prior to the time limit of 5 years.

Interactive Tax Calculators

GST Calculator

Related Tax Knowledge

GST Rates Matrix Input Tax Credit Rules

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🛡️ Educational Disclaimer: FinSetu India is an independent educational guidance and calculation platform. Content is published for general citizen awareness based on applicable laws as of FY 2026-27. We do not provide personalized legal/tax advice or file returns directly. Verify current applicable rules on official portals or consult a qualified Chartered Accountant / Tax Lawyer.