CGST Rulebook Evolved — Procedural & Filing Amendments Activated

Notification No.: 17/2017 – Central Tax
Date of Notification: 27th July 2017
Relevant Sections and Rules:

• Central GST Act, 2017: Section 164
• Central GST Rules, 2017: Amendments to Rules 24, 34, 44, 46, 61, 83, 89; Changes to Forms TRAN-1 and TRAN-2
• Integrated GST Act: Not directly applicable

Summary of Notification

1. Rule 24(4) – Extended Time for Transitional Registration Application:
   Time limit to apply for registration by certain persons under transitional provisions is extended from “within 30 days of the appointed day” to “on or before 30th September 2017” (with effect from 22nd July 2017).
2. Rule 34 – Exchange Rate for Taxable Supplies Revised:
   Rule completely substituted:

• For goods, exchange rate will be as per Section 14 of the Customs Act, 1962.
• For services, exchange rate to be determined using generally accepted accounting principles (GAAP).

3. Rule 44(2) & (3) – ITC Reversal Clarified:
   Effective 1st July 2017, input tax credit reversal must be done separately for CGST, SGST, UTGST, and IGST. If tax invoices are not available, valuation should be based on market price of goods on the effective date.
4. Rule 46 – Export Invoice Endorsement Updated:
   Invoices for exports or supply to SEZ must carry a clear endorsement:

• Whether with payment of IGST, or
• Under bond/LUT without payment of IGST, along with name/address of recipient, delivery address, and country of destination.

5. Rule 61 – GSTR-3B & GSTR-3 Integration:
   Introduces provisions for return filing via GSTR-3B when GSTR-1 and GSTR-2 due dates are extended. Later reconciliation with GSTR-3 is enabled, and differences in ITC are to be credited accordingly.
6. Rules 83 & 89 – Minor Corrections:
   Terminology updates:

• Rule 83(3): Corrects “sub-section” to “sub-rule”.
• Rule 89(4)(E): Corrects “sub-section” to “clause”.

7. Form GST TRAN-1 & TRAN-2 – Column Heading Changed:
   Column heading revised from “HSN” to “HSN as applicable” in tables related to transitional input stock reporting.

Source: Notification No.: 17/2017 – Central Tax