At the present Sec. Section 2(4). 16 of the IGST Act deals with zero rated supplies under GST. The Constitution (122nd) Amendment Bill comes up in RS, on the back of a broad political consensus and boosted by the ‘good wishes’ of the Congress, which holds the crucial cards on its passage. And as we look forward to the GST becoming a reality, this article will help you understand the fundamentals that go into shaping the GST Bill: The Constitutional Amendment Act … There will be a facility to file two amendment GST returns for each tax period within the time period specified in section 39(9) of the CGST Act, 2017. Constitution (101st Amendment) Act, 2016 In order to suitably implement the GST legislation, this Act resulted in the insertion, deletion and amendment of certain Articles of the Constitution. BE it enacted by Parliament in the Sixty-ninth Year of the Republic of India as follows:— 1. THE CENTRAL GOODS AND SERVICE TAX (AMENDMENT) ACT, 2018. 8. Amendment of entries that flow from the annexure of the main GST return shall be permissible only with the amendment … Compensation Cess Amendment Act, 2018 The Amendment Acts have been published in the Official Gazette. The Goods and Service Tax (‘GST’) was implemented in the country with effect from 01.07.2017 by replacing major indirect tax enactments like Value Added Tax Act, Central Excise Act and Chapter V of Finance Act, 1994, etc., by virtue of The Constitution (One Hundred and First Amendment) Act,2016. With the approval from the GST council in the meeting held on January 10 2019, the changes made by the CGST (Amendment) Act, 2018, IGST (Amendment) Act, 2018, UTGST (Amendment) Act, 2018, and GST Amendment Act (Compensation to States), 2018 along with the corresponding changes in SGST Acts will be applicable from 1sr … Under The GST (Compensation to States) Act, 2017, states are guaranteed compensation for loss of revenue on account of implementation of GST for a transition period of five years (2017-22). The One Hundred and First Amendment Bill, commonly known as GST Amendment Bill – GST Constitutional Act in India, is a draft that was officially passed by the Government of India on August 8, 2016 to propose a unified indirect tax system in the country.. The Finance bill 2021 has proposed some changes in section 16 and the same is produced in this article. 279A- The article provides for constitution of GST Council where-The President, by order, is bound to constitute a GST Council within 60 days from the date of commencement of this amendment act… Amendment in the Scope of Supply; Section 7(1) and 7(3)- Scope of Supply (1) For the purposes of this Act, the expression “supply” includes–– (a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business; Continue Reading » Critical Amendment Proposed in Zero Rated Supplies under IGST Act CMA Ramesh Krishnan 05 February 2021 at 09:55 . notification of GST amendment Act 2018. The government has notified to make this effective from tomorrow vide notification no. Following are the Changes in the Relevant Section of CGST Act 2017 by Central Goods and Services Tax (Amendment) Act 2018. Amendment to Article 270: The amendment provides for distribution of GST levied and collected by the Central Government. Consequent upon this, the Hon’ble President of India accorded assent on 8th September, 2016, and the same was notified as the Constitution (One Hundred and First Amendment) Act, 2016. The introduction of GST regime (The Constitution (One Hundred and First Amendment) Act, 2016) in India is considered as a major step in revamping the tax structure.From the general perspective of law itself, the introduction of GST was a major effort. Accordingly, it means any tax on supply of goods, or services or both except taxes on supply of the alcoholic liquor for human consumption. Definitions of CGST Act 2017 : Adjudicating Authority To mitigate the loss of revenue for the states on account of introduction of GST, for the first five years, a compensation cess was brought in under section 18 of the 101st Constitution Amendment Act. 10: Amendment to Article 271: The amendment restricts the power of Parliament to impose surcharge on the goods & services on which GST is levied. The One Hundred and First Amendment of the Constitution of India, officially known as The Constitution (One Hundred and First Amendment) Act, 2016, introduced a national Goods and Service Tax (GST) in India from 1 st April 2017. The GST Constitutional Amendment Act has inserted a definition for ‘Goods and Services Tax’ by way of sub-clause (12A) of Article 366. The GST Council, in its meeting on June 21, 2019, 2020, recommended interest to be charged on net cash tax liability, with effect from a date to be notified by the government. 02/2019-Central Tax ,dt. For the FIRST time, the Act has been amended. The GST is a Value Added Tax (VAT) and is proposed to be a comprehensive indirect tax levied on manufacture, sale and consumption of goods as well as services … Changes in CGST Act 2017 w.e.f 01.02.2019. As per Article 279A (1) of the amended Constitution, the GST Council has to be constituted by the President within 60 days of the commencement of Article 279A. The GST Provisions came in to effect from 1-7-2017. Article 268A of the Constitution, as inserted by section 2 of the Constitution (Eighty-eighth Amendment) Act, 2003 shall be omitted. Amendment of Article 271 (Surcharge on taxes by union):- The Parliament has the exclusive right to charge the surcharge on any tax and such surcharge will form the part of consolidated fund. 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