GST Updates December 2017

GST Updates

Central Government vide Notification No. 70/2017 Central Tax, dated 21.12.2017 amend Central Goods and Service Tax Rules, 2017 as under:

1. In the Form GSTR-1 Table 6 is replaced to include details in respect of Central, State and UT Tax in view of notification no. 48/2017-Central Tax dated 18.10.2017 specifies supply by registered persons as deemed export by virtue of power conferred by Section 147 of CGST Act.
2. In the Form RFD-1 Table 7 in Clause (h) the words is being substituted from “Recipient of deemed export”, to “Recipient of deemed export supplies/ Supplier of deemed export supplies”  in view of notification no. 48/2017-Central Tax dated 18.10.2017 specifies supply by registered persons as deemed export by virtue of power conferred by Section 147 of CGST Act.
3. In the Form RFD-1 after Statement 1, Statement 1A is being inserted to facilitate refund claim of Input Tax Credit due to inverted tax structure.
4. In the Form RFD-1 after Statement 5A, a statement containing the number and date of invoices along with such other evidence in Statement 5B inserted, in a case where the refund is on account of deemed exports.
5. Same substitution and insertion made in Form RFD-1A as in case of Form RFD-1.

Central Government vide various notifications seeks to extend dates as under:

Central Government vide various Circulars provides clarifications as under:

Central Government vide various Orders seeks to extend dates as under:

Press release for 24^th GST Council meeting on 16.12.2017

Decision of GST Council : Inter-State e-way Bill to be made compulsory from 1 st of February, 2018; system to be ready by 16th of January, 2018.

The 24th meeting of the GST Council held today through a video conference. It discussed about the implementation of e-way Bill system in the country. Till such time as National e-way Bill is ready, the States were authorized to continue their own separate e-way Bill systems. However, it was represented by the trade and transporters that this is causing undue hardship in inter-State movement of goods and therefore, bringing in an early all India system of e-way Bill has become a necessity. The GST Council reviewed the progress of readiness of hardware and software required for the introduction of nationwide e-way Bill system. After discussions with all the states, the following decisions are taken :- i) The nationwide e-way Bill system will be ready to be rolled out on a trial basis latest by 16^th January, 2018. Trade and transporters can start using this system on a voluntary basis from 16^th January, 2018. ii) The rules for implementation of nationwide e-way Bill system for inter-State movement of goods on a compulsory basis will be notified with effect from 1^st February, 2018. This will bring uniformity across the States for seamless inter-State movement of goods. iii) While the system for both inter-State and intra-State e-way Bill generation will be ready by 16^th January, 2018, the States may choose their own timings for implementation of e-way Bill for intra-State movement of goods on any date before 1^st June, 2018. There are certain States which are already having system of e-way Bill for intra-State as well as inter-State movement and some of those States can be early adopters of national eway Bill system for intra-State movement also. But in any case uniform system of e-way Bill for inter-State as well as intra-State movement will be implemented across the country by 1^st June, 2018.

Compiled by CA. Manilal Parsiya