GST CHANGES EFFECTIVE FROM 01.04.2022
GST CHANGES EFFECTIVE FROM 01.04.2022
E-INVOICING
Applicability of E-invoicing has been extended to all the taxpayers having annual turnover of more than Rs.20 crores in any financial year from 2017-18. E-invoice is applicable for all B2B supplies and exports
GST RATE CHANGES
| S.No. | Notification No. | Issue |
| 1. | 3/2022-Central Tax dated
31.03.2022 |
Notification 10/2019- Central Tax dated 07.03.2019, provides for exemption from obtaining GST registration for certain category of persons, engaged exclusively in supply of goods and whose aggregate turnover in the financial year does not exceed Rs. 40 Lakhs. The benefit of such exemption from registration, would not be applicable inter alia to those persons supplying certain goods. To the list of such goods, which are not entitled for exemption from registration, the following goods have been added.
1. Fly ash brick or fly Ash aggregate with 90% or more fly ash content; fly ash blocks (Chapter heading 6815) 2. Bricks of fossil meals or similar siliceous earths (Chapter heading 69010010) 3. Building bricks (Chapter heading 69041000) 4. Earthen or roofing tiles (Chapter heading 69051000) As a result, the suppliers of above goods would not be entitled for any threshold exemption. |
| 2. | 4/2022-Central Tax dated
31.03.2022 |
Notification 14/2019-Central Tax dated 07.03.2019 provides for composition scheme for the payment of GST.
But, the composition scheme is not applicable for suppliers of certain goods. To the list of such goods, which are not entitled for composition scheme, the following goods have been added. 1. Fly ash brick or fly Ash aggregate with 90% or more fly ash content; fly ash blocks (Chapter heading 6815) 2. Bricks of fossil meals or similar siliceous earths (Chapter heading 69010010) 3. Building bricks (Chapter heading 69041000) 4. Earthen or roofing tiles (Chapter heading 69051000) As a result, the suppliers of above goods would not be entitled to opt for composition scheme.
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| 3. | 1/2022- Central Tax (Rate) dated 31.03.2022 | As per S.Nos. 225B, 226, 227, 228, of Schedule I of Notification 1/2017 – Central Tax (Rate) dated 28.06.2017, the following goods attracted 5% GST (2.5% CGST + 2.5% SGST)
1. Fly ash brick or fly Ash aggregate with 90% or more fly ash content; fly ash blocks (Chapter heading 6815) 2. Bricks of fossil meals or similar siliceous earths (Chapter heading 69010010) 3. Building bricks (Chapter heading 69041000) 4. Earthen or roofing tiles (Chapter heading 69051000) The above goods have now been placed under S.Nos. 176B, 176C, 176D, 176E of Schedule II of the Notification.
As a result, the above goods would now attract 12% GST (6% CGST + 6% SGST) |
| 4. | 2/2022- Central Tax (Rate) dated 31.03.2022 | An optional 6% GST (3% CGST + 3% SGST), has been prescribed for the following goods.
1. Fly ash brick or fly Ash aggregate with 90% or more fly ash content; fly ash blocks (Chapter heading 6815) 2. Bricks of fossil meals or similar siliceous earths (Chapter heading 69010010) 3. Building bricks (Chapter heading 69041000) 4. Earthen or roofing tiles (Chapter heading 69051000) This is subject to a condition that no Input Tax Credit shall be admissible if such option is exercised. |
| 5. | 1/2022- Integrated Tax
(Rate) dated 31.03.2022 |
Similar to S.No. 3 above, in respect of Inter-state supplies.
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| 6. | 2/2022- Integrated Tax
(Rate) dated 31.03.2022 |
Similar to S.No. 4 above, in respect of Inter-state supplies.
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