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TMI BlogAnnexure 12: Important Changes in GST Laws and Rates during 2017-18 & 2018-19X X X X Extracts X X X X X X X X Extracts X X X X ..... Acts, 2017, the CGST Notification no. 04/2017-CT(Rate), dt. 28.06.2017 and CGST Notification no. 13/2017-CT (Rate), dt. 28.06.2017 notify certain specified Goods and Services for the supply of which tax is payable under RCM. In respect of section 9(4) of CGST/SGST Act and section 5(4) of IGST Act the original provision has been amended as follows: * If the amount of inward supplies of goods or services or both, received in a day by a registered person from all unregistered suppliers, does not exceed Rs.5000/-, no tax is payable on RCM under section 9(4) by a registered recipient. * If a registered person receives inward supplies of goods or services or both exceeding Rs. 5000/- in a day from all unregistered suppliers, he is liable to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nover in the State. * Rate of Composition Levy for traders has been reduced from half (0.5) per cent. on turnover in the State to half (0.5) per cent. of the turnover of taxable supplies of goods in the State [CGST (1st Amendment) rules, 2018 issued vide 1[notification No. 03/2018-CT, dated 24.01.2018]] Tax on Advance received Section 12(2) of the SGST/CGST Act: "The time of supply of goods shall be the earlier of the following dates, namely: (a) the date of issue of invoice by the supplier or the last date on which he is required, under section 31, to issue the invoice with respect to the supply; or (b) the date on which the supplier receives the payment with respect to the supply:" * So, in terms of the above provisions, tax is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he supplier to any person on the direction and on account of a registered person, for the purpose of entitlement of input tax credit it shall be deemed that the said registered person has received services [Explanation to Sec. 16(2)(b) of SGST/CGST Act amended w.e.f. 01.02.2019] * Subject to conditions, Input tax credit in respect of invoices or invoice relating to such debit notes for supplies made during 2017-18 can be availed till the due date of furnishing return (GSTR-3B) for the month of March, 2019 i.e. 23.04.2019 (as extended by Notification No. 09/2019-C.T./GST dated 22.04.2019) * Condition: Details of such invoices or debit notes are uploaded by the supplier in GSTR-1 till the due date for furnishing GSTR-1 for the month of Ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n, shall be the location at which such goods are handed over for their transportation. [section 12(8) of the IGST Act] * Changed provision from 01.02.2019: Where the transportation of goods is to a place outside India, POS shall be the place of destination of such goods [proviso added to section 12(8)] * Original provision [01.07.17 to 31.01.19]: Subject to other conditions, POS of services supplied in respect of goods temporarily imported into India for repairs is the location of the recipient * Changed provision from 01.02.2019: Now, POS of services supplied in respect of goods temporarily imported into India for repairs or for any other process or treatment also is the location of the recipient [Second proviso to section 13(3)(a) s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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