The Central Government yesterday notified the Central Goods and Services Tax (Fourth Amendment) Rules, 2017.
As per the amended Rules, the last date for migration of persons registered under the existing law shall be 30th September 2017. The earlier provision suggested the completion of process within 30 days from the rollout of GST.
It further amends the rules related to Rate of exchange of currency, other than Indian rupees, for determination of value and the manner of reversal of credit under special circumstances.
It stated that in case of the export of goods or services, the invoice shall carry an endorsement “SUPPLY MEANT FOR EXPORT/SUPPLY TO SEZ UNIT OR SEZ DEVELOPER FOR AUTHORISED OPERATIONS ON PAYMENT OF INTEGRATED TAX” or “SUPPLY MEANT FOR EXPORT/SUPPLY TO SEZ UNIT OR SEZ DEVELOPER FOR AUTHORISED OPERATIONS UNDER BOND OR LETTER OF UNDERTAKING WITHOUT PAYMENT OF INTEGRATED TAX”.
The invoice should contain details such as name and address of the recipient, address of delivery; and name of the country of destination.
Read the full text of the Notification below.
