Rule Modification:
Amendment to Central Goods and Services Tax Rules, 2017.
Designated as Central Goods and Services Tax (Twelve Amendment) Rules, 2020.
Effective Date:
Rules effective upon publication in Official Gazette.
Harmonized System of Nomenclature (HSN) Code:
Board empowered to specify digits of HSN code for goods or services.
Provision for exempted classes from HSN code requirement.
SMS Facility for Nil Returns:
Registered entities with Nil returns can submit via SMS.
Authentication via One Time Password (OTP) from registered mobile number.
Audit Requirement for Large Entities:
Firms with turnover over five crore rupees to undergo annual audit.
Submission of audited accounts and reconciliation statement electronically.
Relief from Penalty for Late Filings:
Waiver of restrictions for non-filing during February to August 2020 till October 15, 2020.
Form Modification:
Change in GSTR-1 to include "Rate of Tax" in column 6.
Issued by Pramod Kumar, Director, Government of India.