CBIC further amends the Central Goods and Services Tax Rules, 2017 and notifies Annual Return Form GSTR-9
Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 39/2018 dated 4th September, 2018 to further amended the Central Goods and Services Tax Rules, 2017.
Key highlights of the amendment are –
1) Where any registered person fails to furnish returns for a continuous period of six month or any composite dealer fails to furnish return for three consecutive tax period and as a result proper officer issues show cause notice for cancellation of registration certificate. Instead of replying to the notice served if the person furnishes all the pending returns and makes full payment of the tax dues along with applicable interest and late fee, the proper officer shall drop the proceedings and pass an order in FORM GST-REG 20
2) Registered person can now availed input tax credit, if the document does not contain all the specified particulars but contains the details of the amount of tax charged, description of goods or services, total value of supply of goods or services or both, GSTIN of the supplier and recipient and place of supply in case of inter-State supply.
3) Timeline for issuance of invoice in case of supply of goods in batches or lots has been prescribed.
4) Adjusted Total Turnover for claiming refund of input tax credit in case of zero-rated supply of goods or services or both without payment of tax under bond or letter of undertaking has now been substituted with new definition.
5) In case of imported goods now the person in charge of a conveyance shall also carry a copy of the bill of entry filed by the importer of such goods and shall indicate the number and date of the bill of entry in Part A of FORM GST EWB-01.
6) FORM GST REG-20, FORM GST ITC-04 has been substituted.
7) FORM GSTR-9 – Annual Return and FORM GSTR-9A – Annual Return (For Composition Taxpayer) has been inserted.
For further information please refer the attached document.