Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 03/2019 dated 29th January, 2019 to further amend the Central Goods and Services Tax(CGST) Rules, 2017
Key Points of the Amendment are
- Any person having multiple places of business within a State or a Union territory may be granted a separate registration in respect of each such place of business if the following conditions are satisfied-
(a) such person has more than one place of business
(b) such person shall not pay tax under composition levy for any of his places of business if he is paying tax under normal scheme for any other place of business;
(c) all separately registered places of business of such person shall pay tax under the act on supply of goods or services or both made to another registered place of business of
such person and issue a tax invoice or a bill of supply, as the case may be, for such supply.
- A registered person who has obtained separate registration for multiple places of business as stated in point 1 and who intends to transfer, either wholly or partly, the unutilised input tax credit lying in his electronic credit ledger to any or all of the newly registered place of business require to furnish within a period of thirty days from obtaining such separate registrations, the details in FORM GST ITC-02A electronically on the common portal, either directly or through a Facilitation Centre notified in this behalf by the Commissioner. The input tax credit shall be transferred to the newly registered entities in the ratio of the value of assets held by them at the time of registration.
- A new Rule 21A has been inserted with respect to Suspension of Registration, where a registered person has applied for cancellation of registration, the registration shall be deemed to be suspended from the date of submission of the application or the date from which the cancellation is sought, whichever is later, pending the completion of proceedings for cancellation of registration. The Registered person shall not make any taxable supply during the period of suspension and shall not be required to furnish any return.
- The credit and debit note shall now contain the serial number(s), dates(s) of the corresponding tax invoice(s) or as the case may be ,bill(s) of supply.
- Any department of the Central Government or a State Government or a local authority, whose books of account are subject to audit by the Comptroller and Auditor-General of India or an auditor appointed for auditing the accounts of local authorities under any law for the time being in force is not required to get his accounts audited and also not required to furnish a copy of audited annual accounts and a reconciliation in Form GSTR-9C.
- Part of Form GST REG-01, GST REG-17, REG-20, GSTR-4,RFD-01, RFD-01A has been substituted
Source: Central Board of Indirect Taxes & Customs
