Home Highlights March 2018 Year 2018 This

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1. Seeks to make amendments (Eighth Amendment, 2018) to the CGST Rules, 2017

2. GST (Amendment) Acts, 2018 to amend CGST Act, IGST Act, Compensation to States Act and UTGST Act, got Presidential assent as on 29.8.2018

3. Seeks to prescribe rate of interest under CGST Act, 2017 - Notification as amended

4. CGST Rate Schedule u/s 9(1) - notifying rates of CGST @ 2.5%, 6%, 9%, 14%, 1.5% and 0.125% on Supply of Goods - Notification as amended by notification dated 22/9/2017

5. Central Goods and Services Tax (Amendment) Act, 2018- Clarification regarding section 140(1) of the CGST Act, 2017

6. CGST Rate Schedule u/s 9(1) - notifying rates of CGST @ 2.5%, 6%, 9%, 14%, 1.5% and 0.125% - As amended by notification dated 18-8-2017

7. Intimation for composition levy - Provisional registration or new registration before 31.3.2018 - period of limitation extended from 90 days to 180 days - Rule 3 of the...

8. Goods and services tax practitioners. - Consequential amendment pursuant to substitution of section 38 - Section 48 of CGST Act, 2017 amended

9. Levy of late fee. - Consequential amendments with regard to additions or deletion of returns - Section 47 of CGST Act, 2017 amended

10. Traders under composition scheme - Now requires to pay GST @1% (i.e. 0.5% CGST plus 0.5% SGST) on taxable turnover of goods only w.e.f. 1.1.2018 - See notification as amended.