Effective GST Changes w.e.f October 01, 2023

There are several key changes to the Goods and Services Tax rules that will come into effect from October 1, 2023.

The main changes are:

- The composition scheme for paying GST has been extended to suppliers supplying goods through e-commerce operators. However, suppliers of services through e-commerce operators will still be restricted.

- The time limit for applying for revocation of GST registration cancelation has been increased from 30 days to 90 days.

- Input tax credit claimed will now have to be reversed if the invoice amount is not paid to the supplier within 180 days. Previously, it was treated as an addition to the output tax liability.

- Input tax credit will now be blocked on goods and services used for corporate social responsibility activities.

- Penalties have been introduced for e-commerce operators for non-compliance related to supplies made through their platforms.

- Several offenses under the GST Act have been decriminalized and the monetary limits for prosecution for other offenses have been increased.

- The scope of "online information and database access or retrieval services" has been expanded to cover unregistered individuals receiving such services.

- The place of supply rules for transportation of goods has been amended.

Hope this summary helps! Let us know if you need any clarification or want us to modify the summary.