The President of India has given his consent to the Finance  Bill 2019 on 01.08.2019 and the same has been enacted as The Finance Act No 02 of 2019.. Provisions of CGST has been amended.

The amendment act has done various major changes in existing GST Provisions . 

Some of the important GST Amendment  includes :

Provisions related to Blocked Input Tax Credit in GST U/s 17(5) has been amended. Earlier Input Tax Credit was Blocked in respect of all vehicles. After amendment this restriction has been relaxed to some extent and Input Tax Credit can be claimed for vehicles,

Earlier registered supplier has to issue credit notes and debit notes on one to one basis in respect of Tax Invoices In GST. Now one or more Credit and Debit notes can be issued in respect of one or more Tax invoices in GST . This will provide big relief to taxpayers from documentation .

Certain definitions as given in Section 2 of GST Act ,such as Appellate Authority etc has been amended . 

Provisions of Reverse Charge Mechanism U/s 9(4) , has been deleted and new provisions has been inserted . As per the new provisions only notified persons will be required to pay tax under reverse charge for purchases from Unregistered Person in GST for specified goods and services.

Eligibility for opting in GST Composition scheme has been relaxed and big relief has been provided through this GST Amendment for small taxpayers .

The Limit of GST registration has also been increased in this amendment Act.

The new procedure to file GST New return system has been included in GST Act U/s 43A which is yet to be notified . This will change the GST Return filing process for all the dealers and registered taxpayers .

These are some of major changes done in the GST amendment Act. Complete amendment Act is enclosed here for download

Copy of Finance Act can be downloaded here

CGST Amendment 2019

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