News Update

New GST Return to work on 'upload, lock & pay' basis; NIL returns through SMSGST Registration - Part B of REG-26 not filled - Do it before Aug 31GST Council approves proposed amendments in laws; No interest to be paid if ITC is reversed on failure to make payment within 180 days + exemption to IT services in case of Related Parties + to define expression 'renting of immovable property' + extends exemption upto Sept 2019 on outward transportation by air or sea + RCM to apply on DSA services to banks or NBFCsGST Council reduces tax rates on as many as 87 items + 5% IGST on Pool price of imported urea by Govt + exemption from CESS to coal rejects + water supplied for public purposes + 5% tax rate on marine enginesGST Council takes slew of decisions to reduce tax rates & simplify compliance normsGST Council to meet again on Aug 4, 2018 + to focus on issues relating to only MSME Sector + also to discuss possible sops for digital paymentsGSTN to link all tolls & nakkas through RAFD for smooth movement of goods + SOP to be issued to overcome e-Way Bill related penalty + Migration window without interest to remain open till Aug-endGST Council hikes exemption limit from Rs 10 lakhs to Rs 20 lakhs in States like HP, Uttaranchal, Assam, Arunachal & two more + also allows multiple registration within a State if taxpayer wishes so + simplifies cancellation of registrationGST - Council decides to make it quarterly return but monthly payment upto Rs 5 Crore turnover - Relief for 93% taxpayers + approves 10% of turnover or upto Rs 5 lakh worth of services by Composition dealers + suspends RCM upto September 2019GST Council decides 28% tax to apply only on actual hotel tariff of Rs 7500 rather than declared tariffGST Council grants relief to textile sector - ITC refund to be granted but after July 27, 2018GST Council exempts many items such as statutes of god, rakhi, brooms & many others + tax rate on handloom items lowered from 12% to 5% + rate on ethanol down to 5% + many items moved from 28% to 18% slabGST Council approves New two-page GSTR + facility of revision of GSTR + quarterly return for composition dealers but monthly tax payment + exemption to sanitary napkins + 5% tax rate on shoes up to Rs 1000 + many items like TV upto 25 inch + Fridge & other electronic items from 28% to 18% slab + powers to share IGST and CESS collected before 5 yearsGST - CBIC Chairman asks officers to liquidate pendency relating to Budgetary Support SchemeI-T - Re-opening sought u/s 147 by new incumbent AO towards an issue cannot be said to be 'mere change of opinion' when, such issue was not touched upon by earlier AO: HCRailways tool to tell you chances of confirmation of waitlisted ticketsGST Council's 28th meeting takes off with long agenda list; likely to continue till 4 PMBRICS Summit - Nadda reiterates TB to be off India's map by 2025Chennai DRI recalls containers heading for Dubai, to seize Red Sanders log worth Rs 5.6 CroreI-T - Process of packaging can be considered as manufacturing activity if it is a complicated technical process: ITATAverage income of Agri households - Punjab & Haryana top tally as per last surveyNo-trust motion moved by Opposition against Govt falls on the floorCX - Credit taken but not utilized till reversal - Mere taking of CENVAT credit facilities would not compel assessee to pay interest as well as penalty: CESTATDRI seizes FICN worth Rs 47700 in Rs 500 & Rs 1000 denominations, brought from Nepal; One person arrested

MINISTRY OF LAW AND JUSTICE

(Legislative Department)

New Delhi, the 19th January, 2010/Pausa 29, 1931 (Saka)

The following Act of Parliament, after having been ratified by the Legislatures of not less than one-half of the States by resolutions to that effect, received the assent of the President on the 18th January, 2010, and is hereby publisbed for general information:-

THE CONSTITUTION (NINETY-FIFTH AMENDMENT) ACT, 2009

[18th January, 2010]

An Act further to amend the Constitution of India.

BE it enacted by Parliament in the Sixtieth Year of the Republic of lndia as follows:-

Short title and commencement

1. (1)This Act may be called the Constitution (N inety-fifth Amendment) Act, 2009.

(2) It shall come into force on the 25th day of January, 2010.

Amendment of article 334

2. In article 334 of the Constitution, for the words "sixty years", the words "seventy Amendment of years" shall be substituted.

(V K Bhasin)
Secretary to the Government of India

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