As communicated in our earlier mails (refer trailing mails), the CGST Act,2017 & IGST Act,2017 are proposed to be amended by GST Council in its 28th GST Council meeting. Subsequently the Parliament of India has passed respective amendment bills in the Monsoon session and yesterday the President of India has given his ascent for the same. This amendment Acts will be called as CGST Amendment Act, 2018 & IGST Amendment Act, 2018.
We hereunder producing some significant amendments & its impacts, which are required to be noted. It is advised to check the applicability of the said amendments in your respective organizations/ business practices.
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