47th GST Council Meeting: Other miscellaneous changes w.r.t. GST law and procedure

The GST Council’s 47th meeting was held in Chandigarh on June 28th and 29th, 2022 under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia made changes w.r.t GST law and procedure:

1. Present exemption of IGST on import of goods under AA/EPCG/EOU scheme to be continued and E-wallet scheme not to be pursued further.
2. Exemption from filing annual return in FORM GSTR-9/9A for FY 2021-22 to be provided to taxpayers having AATO upto Rs. 2 crores.
3. Explanation 1 after Rule 43 of Central Goods and Services Tax Rules, 2017 (“the CGST Rules”) to be amended to provide that there is no requirement of reversal of input tax credit for exempted supply of Duty Credit Scrips by the exporters.
4. UPI & IMPS to be provided as an additional mode for payment of Goods and Services Tax to taxpayers under Rule 87(3) of CGST Rules.
5. In respect of refunds pertaining to supplies to SEZ Developer/Unit, an Explanation to be inserted in Rule 89(1) of CGST Rules to clarify that “specified officer” under the said sub-rule shall mean the “specified officer” or “authorized officer”, as defined under SEZ Rules, 2006.
6. Amendment in CGST Rules to provide for refund of unutilized Input Tax Credit on account of Export of Electricity. This would facilitate the exporters of electricity in claiming refund of utilized ITC on zero rated supplies.
7. Supplies from Duty Free Shops (“DFS”) at international terminal to outgoing international passengers to be treated as exports by DFS and consequential refund benefit to be available to them on such supplies. Rule 95A of the CGST Rules, Circular No. 106/25/2019-GST dated June 29, 2019 and related notifications to be rescinded accordingly.

The Press release can be accessed at - https://www.pib.gov.in/PressReleasePage.aspx?PRID=1838020