Updates to the Central Goods and Services Tax Rules, 2017
Amendment Introduction:
CGST (Third Amendment) Rules, 2020 enacted under section 164 of the CGST Act, 2017.
Effective from the date of publication in the Official Gazette, except where specified otherwise.
Aadhaar Authentication:
Applicants must undergo Aadhaar authentication for registration, effective April 1, 2020.
Non-compliance requires physical verification of the principal place of business.
Physical Verification:
If Aadhaar authentication fails, physical verification is mandated within 60 days of application.
Verification reports must be uploaded in FORM GST REG-30.
Changes in Refund Rules:
Detailed changes in rules related to refund procedures, including cash refunds and credit re-crediting.
Provisions for recovery of refunds if export proceeds are not realized within specified timeframes.
Input Tax Credit (ITC) Updates:
Clarity provided on input tax credit for capital goods and common credit computation.
Useful life of capital goods considered as five years from the invoice date.
Other Amendments:
Clarifications on notification benefits and recovery processes.
Modifications to forms and declarations for compliance.
Effective Date:
Rules effective from the date of publication in the Official Gazette, unless stated otherwise.
Pramod Kumar, Director, Government of India