Key Notifications Issued For Recommendations Made In 25th GST Council Meeting

The central government through a series of notifications has adopted certain recommendations made in the 25th GST Council meeting held at New Delhi on 18 January 2018. A summary indicating key clarifications made by the GST Council are as under:

Amendment in the Central Goods and Services Tax Rules, 2017

The government vide Notification No. 3/2018 – central tax has made following amendments in CGST Rules 2017:

• Extension in the time limit for submission of Form GST ITC-03 to 180 days (previously 90 days) from the date of composition levy.
• For registrants under composition levy, the rate of tax prescribed shall be applied to the State/Union territory turnover.
• Persons having registered voluntarily under GST would be eligible to make an application for cancellation of registration at any time. The previous time limit of one year has been removed.