CBIOC notifies Central Goods and Services Tax (Seventh Amendment) Rules, 2020 and amended Rules 7 of the CGST Rules 2017 with a new entry for Composition tax payers who are providing services will be taxed at rate of 6% (CGST – 3% & SGST/UTGST – 3%) vide Notification No. 50/2020-Central Tax Dated 24th June, 2020.
Ministry of Finance
(Department Of Revenue)
(Central Board of Indirect Taxes and Customs)
Notification No. 50/2020-Central Tax
New Delhi, the 24th June, 2020
G.S.R. 403(E).—In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:‑
1. (1) These rules may be called the Central Goods and Services Tax (Seventh Amendment) Rules, 2020.
(2) They shall come into force with effect from the 01st day of April, 2020.
2. In the Central Goods and Services Tax Rules, 2017, in rule 7, for the Table, the following Table shall be substituted, namely:-
“TABLE
| Sl. No. | Section under which composition levy is opted | Category of registered persons | Rate of tax |
| (1) | (1A) | (2) | (3) |
| 1. | Sub-sections (1) and (2) of section 10 | Manufacturers, other han manufacturers of such goods as may be notified by the Government | half per cent. of the turnover in the State or Union territory |
| 2. | Sub-sections (1) and (2) of section 10 | Suppliers making supplies referred to in clause (b) of paragraph 6 of Schedule II | two and a half per cent. of the turnover in the State or Union territory |
| 3. | Sub-sections (1) and (2) of section 10 | Any other supplier eligible for composition levy under subsections (1) and (2) of section 10 | half per cent. of the turnover of taxable supplies of goods and services in the State or Union territory |
| 4. | Sub-section (2A) of section 10 | Registered persons not eligible under the composition levy under sub-sections (1) and (2), but eligible to opt to pay tax under sub-section (2A), of section 10 | three per cent. of the turnover of taxable supplies of goods and services in the State or Union territory.’ |
[F. No. CBEC-20/06/09/2019-GST]
PRAMOD KUMAR, Director
Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide notification No. 3/2017-Central Tax, dated the 19th June, 2017, published vide number G.S.R. 610(E), dated the 19th June, 2017 and last amended vide notification No. 48/2020 – Central Tax, dated the 19th June, 2020 published vide number G.S.R. 394 (E), dated the 19th June, 2020.
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MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
CORRIGENDUM
New Delhi, the 25th June, 2020
G.S.R. 412(E).—In the notification of the Government of India, in the Ministry of Finance, Department of Revenue, No. 50/2020-Central Tax, dated the 24th June, 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 403(E), dated the 24th June, 2020, at page 3, in line 40, for the words “turnover of taxable”, read “turnover of”.
[F. No. CBEC-20/06/09/2019-GST]
PRAMOD KUMAR, Director
Source- http://egazette.nic.in/WriteReadData/2020/220171.pdf
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Links and Details of 9 GST Notification & one GST Instruction issued by CBIC on 24.06.2020
| S. No. | Title | Notification No. | Date |
| 1. | GST Payment by Builders- Form DRC-03 for Shortfall from 80% | Instruction No. 3/2/2020- GST | 24/06/2020 |
| 2. | CBIC reduces interest rate for tax periods from Feb to July 2020 | Notification No. 05/2020 –Integrated Tax/G.S.R. 410(E). | 24/06/2020 |
| 3. | Amendment to section 25 of IGST Act, 2017 notified wef 30.06.2020 | Notification No. 04/2020 –Integrated Tax/G.S.R. 409(E). | 24/06/2020 |
| 4. | GST interest rate for tax periods from February 2020 to July 2020 | Notification No. 02/2020–Union Territory Tax/G.S.R. 408(E) | 24/06/2020 |
| 5. | GSTR-3B due date- August 2020- Annual turnover up to Rs. 5 crore | Notification No. 54/2020-Central Tax/G.S.R. 407(E) | 24/06/2020 |
| 6. | Waiver of late fee for delay in filing GSTR-1- March to June 2020 | Notification No. 53/2020-Central Tax/G.S.R. 406(E) | 24/06/2020 |
| 7. | CBIC notifies one time amnesty for non furnishing of GSTR-3B | Notification No. 52/2020-Central Tax/G.S.R. 405(E) | 24/06/2020 |
| 8. | Interest rate (Feb to July 2020) for delayed filing/payment of GSTR 3B | Notification No. 51/2020-Central Tax/G.S.R. 404(E) | 24/06/2020 |
| 9. | CBIC amends GST Rates under GST Composition Scheme | Notification No. 50/2020-Central Tax/G.S.R. 403(E) | 24/06/2020 |
| 10. | CBIC notifies 4 GST Amendment of Finance Act 2020 w.e.f. 30.06.2020 | Notification No. 49/2020-Central Tax/G.S.R. 402(E) |
Sir please explain Newly inserted sec. 10 ( 2A) of CGST act