Share with your friends

India: GST amendments effective 1 January 2020

India: GST amendments effective 1 January 2020

The Central Board of Indirect Taxes and Customs issued a notification reflecting amendments to the goods and services tax (GST) rules pursuant to the Central Goods and Services Tax Act, 2017, effective 1 January 2020.


Related content

Amendments to the GST rules include:

  • An alternative composition scheme for certain suppliers having an annual turnover up to INR 50 lakhs
  • A higher exemption threshold through the specific request of the state and recommendation of the GST council
  • Modes of electronic payment for specified suppliers
  • Due date measures regarding the annual return and reconciliation statement and the monthly and annual statement
  • Transfer of any tax, interest, penalty, fee or other amount available in the electronic cash ledger to the electronic cash ledger for integrated tax, central tax, state tax, union territory tax, or cess
  • National anti-profiteering authority penalties

In addition, a separate circular clarifies the scope of substituted reverse-charge mechanism entry on the renting of motor vehicles.

Read a January 2020 report prepared by the KPMG member firm in India

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal