CBIC has recently issued Notification No. 02/2020 – Central Tax dated 1st January, 2020 regarding the amending of the CGST Rules regarding the transitional credit.
Highlights of the changes are:
Commissioner may, on the recommendations of the Council, can extend the date for submitting FORM GST TRAN-1. Last date has been extended from 31 December, 2019 to 31 March, 2020.
Similarly, the last date for filing Form TRAN -2 in above cases stands extended from 31 January, 2020 to 31 March, 2020.CBIC ENABLES E-INVOICING SYSTEM, MANDATORY FOR BUSINESSES WITH RS 100 CRORE TURNOVER FROM APRIL 1, 2020
EXTENDING THE LAST DATE FOR FILLING OF APPEALS IN GST TRIBUNAL
GRC WILL BE CONSTITUTED AT ZONAL/STATE LEVEL
LATE FEE WAIVER HAS BEEN PROVIDED TILL JANUARY 2020 TO TAXPAYERS TO CLEAR BACKLOG OF ALL GSTR-1
HIGHLIGHTS OF 38th GST COUNCIL MEETING