One of the amendments is related to the GST
(Compensation to States) Act, 2017 to provide more
clarity for refunds of cess to manufacturers for goods
to be exported. Explaining the proposed change, an
official said: “The amendment will bring in more
clarity. Say, an automobile manufacturer is selling the
car to an exporter, he would have paid cess on it. But,
since it is meant to be exported, cess would need to be
refunded. So, certain tweaking of the law is required…”
The other proposed amendments for the composition scheme
relate to inclusion of supply of services by composition
taxpayer up to Rs 5 lakh per year and increase in annual
turnover eligibility to Rs 2 crore from Rs 1 crore,
after which the eligibility will be increased to Rs 1.5
crore per annum, as approved by the GST Council last
year.
Also, amendments would be made to enable taxation of
renting of immovable property by government or local
authority to a registered person under RCM while renting
of immovable property by government or local authority
to unregistered person shall continue under forward
charge, officials said.
Source::: The Indian Express,
dated 17/06/2018.