Decisions taken in GST Council meeting held on March 10, 2018 – Issue of Notifications
March 27, 2018
Members of the Council
Sub : Decisions taken in GST Council meeting held on March 10, 2018
– Issue of Notifications
We have already circulated the major decisions taken in the GST Council meeting held on March 10, 2018 in New Delhi to members. The following are the details of the notifications issued with regard to decisions taken in the said GST meeting.
|Available GST exemptions on imported goods will be valid for further six months beyond 31.3.2018 i.e. upto 1.10.2018.
A decision was made in 22nd GST Council meeting held on Oct. 6, 2017 that Immediate relief is being given by extending the Advance Authorization (AA) / Export Promotion Capital Goods (EPCG) / 100% EOU schemes to sourcing inputs etc. from abroad as well as domestic suppliers. Holders of AA / EPCG and EOUs would not have to pay IGST, Cess etc. on imports. Also, domestic supplies to holders of AA / EPCG and EOUs would be treated as deemed exports under Section 147 of CGST/SGST Act and refund of tax paid on such supplies given to the supplier.
The Director General of Foreign Trade (DGFT) issued Notification No. 33 dated 13.10.2017 extending exemption from IGST, Cess, etc. on import under Advance Authorization, EPCG and 100% EOU Schemes. Indigenous sourcing against these Scheme will be eligible for deemed export benefit under Para 7.03 of FTP.
|DGFT Notification No. 54/2015-20 dated 22nd March 2018 (exemption for Advance Authorisation and EPCG Schemes).
DGFT Notification No. 54/2015-20 dated 22nd March 2018 and Customs Notification No. 33/2018-Cus,dated 23-03-2018 (exemption for EOU Scheme)
|Existing return filing system of GSTR 3B (summary monthly return) and GSTR 1 (monthly return for outward supplies) is extended for another three months from April to June 2018, till a new return system is developed.
|CGST Notification No. 16/2018 dated 23rd March 2018 specifies the following dates for furnishing GSTR 3 B monthly returns
|E-way bill system to be implemented from April 1, 2018 for inter-state movement of goods (wherein value of consignment exceeds Rs.50,000/-). For intra-state movement of goods, e-way bill system will be introduced w.e.f. a date to be announced in a phased manner but not later than 1st June 2018.
|CGST Notification No. 27/2017 dated Aug. 30, 2017 prescribed the procedure for generation of e-way bill in common portal for movement of goods of consignment value exceeding fifty thousand rupees.
CGST Notification No. 15/2018 dated 23rd March 2018 specifies that the e-way bill system will come into operation from 1st April 2018.
|Liability to pay GST under reverse charge mechanism deferred till June 30, 2018.
|CGST (Rate) notification No. 10/2018 dated 23rd March 2018, IGST (Rate) Notification No. 11/2018 dated 23rd March 2018 and UTGST Notification No. 10/2018 dated 23rd March 2018.
Also, as informed earlier, the following decision was also taken in the aforesaid GST Council meeting held on March 10, 2018
- Implementation of e-wallet scheme deferred upto 1.10.2018. Under e-wallet scheme, electronic e-wallets would be credited with notional or virtual currency by DGFT which would be used by exporters to pay GST/IGST. Thus, exporters need not use their money for GST payment under this scheme.
The Government has issued a Press Release stating that e-way bill is not required in following cases.
- From the customs port, airport, air cargo complex and land customs station to an inland container depot or a container freight station for clearance by customs
- Under Customs bond from an inland container depot or a container freight station to a customs port, airport, air cargo complex and land customs station, or from one customs station or customs port to another customs station or customs port
- Under customs supervision or under customs seal
Members may kindly note the above.
Thanks and regards
R. Ramesh Kumar