Key highlights of Central Goods and Service Tax (Fourth Amendment) Rules, 2019
The Central Board of Indirect Taxes and Customs notified the Central Goods and Service Tax (Fourth Amendment) Rules, 2019, vide its notification no. 31/2019–Central Tax dated 28th June 2019. The present articles summarize the key highlights of the newly notified Central Goods and Service Tax (Fourth Amendment) Rules, 2019.
1. Newly inserted rule 10A – Furnishing of Bank Account Details –
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- New rule 10A applies to the newly registered taxpayer.
- As per rule 10A, once the certificate of registration in FORM GST REG-06 on the common portal has been received and the GSTIN (Goods and Service Tax Identification Number) has been assigned, the registered taxpayer is required to furnish details of the bank account.
- Bank account details need to be provided within earlier of the following dates –
- Within 45 days from the date of the grant of registration; or
- Within the due date of furnishing of return under section 39 of the CGST Act.
- The rule of providing of bank account details, post registration, doesn’t apply to the following categories of persons –
- The persons who have been granted registration by the department (rule 16 of the CGST Rules, 2017).
- The persons who have taken registration as Tax Deductor at Source / Tax Collector at Source (rule 12 of the CGST Rules, 2017).
- In order to incorporate the same, Form GST REG-01, Form GST REG-07 and Form GST REG-12 have been amended.
- Corresponding amendment in Rule 21 – Registration liable to Cancellation in Certain Cases –
A new clause (d) is inserted which provides that the registration would be canceled in case the provisions of rule 10A are violated. In other words, if the bank account details are not provided within a time limit, the registration of such a person would be liable to be canceled.
2. Newly inserted rule 32A – Value of supply in the case where the Kerala Flood Cess is applicable – Effective from 1st July 2019.
In the case where the Kerala Flood Cess is applicable, the value of supply of goods or services shall be deemed to be the value determined in terms of section 15 of the CGST Act. Kerala Flood Cess shall not be included in such value.
3. Amendment in Rule 46 – Tax Invoice and Rule 49 – Bill of Supply –
The Government may specify that the tax invoice or the bill of supply shall have ‘Quick Response (QS) Code’. The effective date of the said amendment would be notified later.
4. New sub-rule (13) inserted to rule 87 – Transfer of balance available in Electronic Cash Ledger –
With the insertion of new sub-rule (13) to rule 87, the registered person can transfer any amount of tax, interest, penalty, fee or any other amount which is available in the ‘Electronic Cash Ledger’ under the CGST Act to the ‘Electronic Cash Ledger’ for integrated tax, central tax, state tax or Union Territory Tax or cess.
The transfer can be done through the filing of Form GST PMT-09. However, the effective date of the newly inserted sub-rule (13) would be notified later.
5. Newly inserted rule 95A – Refund of taxes to the retail outlets established in the departure area of an international airport –
Eligibility –
Refund under newly inserted rule 95A is available to the retail outlets which are established in the departure area (beyond the immigration counters), and such retail outlets are supplying indigenous goods to an outgoing international tourist (who is leaving India).
‘Outgoing International Tourist’ means the person who is not normally resident in India, who enters India for a stay of not more than 6 months for legitimate non-immigrant purposes.
Conditions for claiming the refund –
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- The refund of inward supplies is available only if retail outlet receives the goods from a registered person against a tax invoice. Further, the tax invoice should be containing name and Goods and Service Tax Identification Number (GSTIN) of the retail outlet.
- The refund is available only if the retail outlets has supplied the goods to an outgoing international tourist against foreign exchange. Further, the retail outlets should not have charged / collected any tax for the same.
Amount of Refund claim –
The above referred retail outlets are eligible to claim a refund of taxes paid on inward supplies of the goods.
Filing of form –
The eligible retail outlets are required to file refund claim in Form GST RFD – 10B on a monthly or quarterly basis.
6. Following forms are substituted –
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- Form GSTR-4.
- Form GST DRC-03.
7. Following new forms are inserted –
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- Form GST PMT-09.
- Form GST RFD – 10B.
Author Bio
Respected Sir,
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