14 Changes in the GST Law – Effective from 01.10.2023


     14 Changes in the GST Law – Effective from 01.10.2023


Here is a short compilation of the new amendment in the GST law which is effective from 1st October 2023.


The same is summarized as under:

  1. Filing returns/statements namely GSTR 1, GSTR 3B, TDS Statement and Annual Return have been restricted after expiry of Three Years.
  1. Tax evasion due to certain non-compliances by the suppliers making supplies through E-Commerce operators will result into penalty in the hands of E-Commerce operators.
  1. Time limit of 30 days has been specified for reporting invoices on the IRP Portal with respect to AATO greater than 100 crores.
  1. Input Tax Credit for CSR Expenses has been restricted.
  1. Input Tax Credit reversal under Rule 42 & Rule 43 has to be carried out with respect to Supplies from Bonded Warehouse.
  2. New condition has been inserted for Supply of services/goods to SEZ Developer/Unit.
  1. The Government may share the information of assessee by taking prior consent.
  1. No IGST shall be payable on Ocean Freight by importer of goods.
  1. Location of the registered recipient shall be the place of supply for transportation of goods outside India, where supplier and recipient both are located in India.
  1. Suppliers of goods through E-Commerce platform are eligible to opt for composition scheme.
  1. Registration requirement exempted for certain persons supplying goods through E-commerce operator.
  1. Offences decriminalized and threshold amount for prosecution has been raised under GST Law.
  1. Range for compounding of offences has been reduced.
  2. Time Limit to generate E-Invoice w.e.f. 01.11.2023