Central Goods and Services Tax (Fourth Amendment) Rules, 2020

Central Goods and Services Tax (Fourth Amendment) Rules, 2020

The Central Board of Indirect Taxes and Customs (CBIC) on April 03, 2020, has release Notification No. 30/2020 – Central Tax, the Central Goods and Services Tax (Fourth Amendment) Rules, 2020 to further amend the Central Goods and Services Tax Rules, 2017.

The following amendments are as under:

• Under Rule 3(3) which specifies that person who has been granted registration shall electronically file an intimation for composition levy, the proviso has been inserted, namely:

Provided that any registered person who opts to pay tax under composition levy for the financial year (FY) 2020-21 shall electronically file an intimation in FORM GST CMP-02, duly signed or verified through electronic verification code, on the common portal, either directly or through a Facilitation Centre notified by the Commissioner, on or before June 30, 2020 and shall furnish the statement in FORM GST ITC-03 in accordance with the provisions of rule 44(4) which specifies the manner of reversal of credit under special circumstances, upto July 31, 2020.

• Under Rule 36 (4) which demands documentary requirements and specifies conditions for claiming input tax credit, the proviso has been inserted, namely:

Provided that the condition related to availing of Input tax credit will apply cumulatively for the period February, March, April, May, June, July and August, 2020 and the return in FORM GSTR-3B for the tax period September, 2020 shall be furnished with the cumulative adjustment of input tax credit for the said months in accordance with the condition mentioned under rule 36(4).

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