Central Goods and Service Tax Act, 2017 (CGST), Integrated Goods and Service Tax Act, 2017 (IGST)
Notifications- CGST
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Notification seeks to make amendments (Fourth Amendment) to the CGST Rules, 2017.
Notification No.21/2018 Central Tax, dated 18th April 2018
1. Refund on account of inverted duty structure
Refund of input tax credit – Maximum Refund Amount = {(Turnover of inverted rated supply of goods and services) x Net ITC ÷ Adjusted Total Turnover} – tax payable on such inverted rated supply of goods and services.
2. Consumer welfare fund will have credits based on this notification.
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Seeks to waive the late fee for Form GSTR-3B
Notification No. 22/2018-Central Tax, dated 14th May 2018
The late fee payable when Form GSTR-3B is not filed within the due date for the months from October 2017 to April 2018 and Form GST TRAN-1 was submitted but not filed on the common portal by 27th December 2017, the late fee will be waived off. However, the declaration in Form GST TRAN-1 should have been filled by the 5th October 2018. Form GSTR-3B for these months should be filled by 31st May 2018.
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GSTR-6 due date Extended.
Notification No. 25/2018-Central Tax dated 31st May 2018
Filing for the months July 2017 to June 2018 has been extended to 31st July 2018.