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The Central Goods and Services Tax (Amendment) Act 2018

The CGST (Amendment) Act 2018 was published on29th August 2018 as Act No. 31 of 2018 with amendment to the following:

Definitions, Reverse Charge for supplies from unregistered to registered persons, Composition Scheme, Inadmissible Input Tax Credits (ITC) under GST- Section 17(5) of CGST Act 2017, GST Registration, Invoicing, GST Audit, Place of Supply, Returns and Input Tax Credit (ITC etc. It has been clarified that - "services" includes facilitating or arranging transactions in securities. Limit for composition scheme has been increased from Rs. 1 crores to Rs. 1.5 Crores. Composition dealers may now supply services of value not exceeding- 10% of turnover in a State or Union territory in the preceding financial year or 5 Lakhs, whichever is higher. Rate of tax on services by composition dealer- 0.5% and 0.5%- SGST and CGST. After Amendment consolidated debit notes / credit notes can be issued for more than one number of original invoices. GST Audit is not applicable now to any Government Department, whose accounts are audited by Comptroller & Auditor General (C&AG) of India.



Amended and Inserted Sections

Section 1, 2, 7, 9, 10 of CGST Act 2018

Section 12, 13, 16, 17, 20, 22 CGST 2018

Section 24, 25, 29, 34, 35, 39 CGST 2018

Section 43A, 48, 49, 49A, 49B CGST 2018

Section 52, 54, 79, 107, 112 CGST 2018

Section 129, 140, 143 CGST Act 2018

Schedule I, II, III of CGST Act 2018 


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