India: Amendments to GST rules including amnesty scheme
Introduces procedures for allowing benefits under the amnesty scheme from the Finance Act 2024
The Central Board of Indirect Taxes has issued the Central Goods and Services Tax (Second Amendment) Rules, 2024, which amend the CGST Rules 2017.
Key changes include:
- Removal of restrictions on integrated goods and services tax (IGST) refunds in specific cases like advance authorization and export oriented unit (EOU)
- Specification of the time limit for issuing self-invoices
- Introduction of procedures for allowing benefits under the amnesty scheme from the Finance Act 2024
- Clarification that credit restrictions do not apply to notices issued under section 74A
Read an October 2024 report prepared by the KPMG member firm in India