Summary of GST provisions notified from 1.01.2020

92

Amendment of section 2

Not yet notified

93

Amendment of section 10

–        NRTP and CTP cant opt for composition.

–        Interest will not be a part of taxable turnover and aggregate turnover to determine eligibility.

–         

Notified from 1^st Jan 2020 via notification no. 01/2020 – Central Tax

94

Amendment of section 22.

–        20 lac limit may extended to 40 lac only in case of supply of Goods.

–        But interest is allowed meaning thereby that if I am receiving interest only apart from goods I will still be eligible for this 40 lac limit.

Notified from 1^st Jan 2020 via notification no. 01/2020 – Central Tax

95

Amendment of section 25.

Notified from 1^st Jan 2020 via notification no. 01/2020 – Central Tax

96

Insertion of new section 31A. Facility of digital payment to recipient

Providing modes for digital payment.

Notified from 1^st Jan 2020 via notification no. 01/2020 – Central Tax

97

Amendment of section 39

Not yet notified

98

Amendment of section 44.

Annual return date extension power.

Notified from 1^st Jan 2020 via notification no. 01/2020 – Central Tax

99

Amendment of section 49.

– PMT 09 form for shifting tax from one head to another head.

Notified from 1^st Jan 2020 via notification no. 01/2020 – Central Tax

100

Amendment of section 50.

Interest levy on net not on gross

Not yet notified

101

Amendment of section 52.

Power to extend time limit of Form 9B to be filed by ECO

Notified from 1^st Jan 2020 via notification no. 01/2020 – Central Tax

102

Insertion of new section 53A. Transfer of certain amounts

Notified from 1^st Jan 2020 via notification no. 01/2020 – Central Tax

103

Amendment of section 54

Not yet notified

104

Amendment of section 95.

Not yet notified

105

Insertion of new sections 101A, 101B and 101C.

Constitution of National Appellate Authority for Advance Ruling

Not yet notified

106

Amendment of section 102.

Not yet notified

107

Amendment of section 103.

Not yet notified

108

Amendment of section 104.

Not yet notified

109

Amendment of section 105.

Not yet notified

110

Amendment of section 106

Not yet notified

111

Amendment of section 168

Commissioner defined

Notified from 1^st Jan 2020 via notification no. 01/2020 – Central Tax

112

Amendment of section 171

Anti profiteering penalty

Notified from 1^st Jan 2020 via notification no. 01/2020 – Central Tax