The Central Government notified the amended Central Goods and Services Tax (CGST) Rules, 2017. It also released the application/form for grant of Unique Identity Number (UIN) to UN Bodies/ Embassies /others.
The amendment enables a tax payer who opted for composition levy to furnish the details of stock, including the inward supply of goods received from unregistered persons, held by him within a period of ninety days from the date on which the option for composition levy. Earlier, the time limit was sixty days.
It also amends the rules relating to manner of claiming credit in special circumstances. It amends sub-rule (1) (b) of Rule 40 and stated that “the registered person shall within a period of thirty days from the date of becoming eligible to avail the input tax credit under sub-section (1) of section 18, or within such further period as may be extended by the Commissioner by a notification in this behalf, shall make a declaration, electronically, on the common portal in FORM GST ITC-01 to the effect that he is eligible to avail the input tax credit as aforesaid.”
It also amends the manner of reversal of credit of Additional duty of Customs in respect of gold dore bar.
Read the Full Text of the Notification Below.
