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of <h1>Central Board Updates CGST Act: Export Proceeds in INR, Extended Job Work Returns, Streamlined CENVAT Recovery, Registration Suspension.</h1> The Central Board of Indirect Taxes & Customs has issued a circular revising earlier circulars under the CGST Act, 2017, effective from February 1, 2019, following the implementation of the GST Amendment Acts. Key amendments include: allowing export proceeds realization in INR under certain conditions, extending the period for return of inputs and capital goods from job workers, providing a 14-day period for tax/penalty payment for seized goods, streamlining recovery of wrongly availed CENVAT credit, and allowing suspension of registration. Commissioners and trade associations are urged to disseminate this information to relevant parties.
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