Section 6.1 of GSTR – 3B, details of payment for GST has to be shown. Amount of Tax Payable, Amount of Tax paid under GST utilizing the ITC and balance amount in cash has to be shown along with interest and late if any payable for CGST, SGST, UTGST, IGST and Cess.
As per the Determination of Value Supply, Open Market Value has to be considered for some transactions and OMV is “open market value” of a supply of goods or services or both means the full value in money, excluding the integrated tax, central tax, State tax, Union territory tax and the cess payable by a person in a transaction, where the supplier and the recipient of the supply are not related and price is the sole consideration, to obtain such supply at the same time when the supply being valued is made.
As per CGST Act, all taxes, levies, and charges collected from the buyer should be part of the valuation except for the taxes under GST (SGST UTGST & Cess), if buyer and seller are not related parties.
The tax rate for Cess under GST as part of the Goods and Services Tax (Compensation to States) Act, 2017, starts from 15% to 190% in case of sin goods on ad valorem basis and in the case of goods, it is on per ton basis like coal, peat etc at the rate of Rs 400 per ton.
Input tax credit for cess being levied under Goods and Services Tax (Compensation to States) Act, 2017, is eligible only for the making the output tax liability of the Cess under the same act and not for payment of any other taxes output liability under GST.
Under the Goods and Services Tax (Compensation to States) Act, 2017, Cess will be levied on all interstate and intra-state transactions on the supply of goods and service notified by the GST council from time to time. Cess is not applicable to be paid by persons who have opted for registration under composition scheme.