GST Council approved legislative amendments, retrospective clarifications, IMS integration and an enabling Track & Trace provision for evasion prone goods. The Council recommended retrospective amendment to replace 'plant or machinery' with 'plant and machinery' in section 17(5)(d) w.e.f. 01.07.2017, retrospective insertion of clause for SEZ/FTWZ warehoused goods in Schedule III with no refunds where tax was already paid, and insertion of an enabling provision and penal sanction for a Track and Trace Mechanism for specified evasion prone commodities, with procedural rules to follow after technology finalisation.
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Provisions expressly mentioned in the judgment/order text.
GST Council approved legislative amendments, retrospective clarifications, IMS integration and an enabling Track & Trace provision for evasion prone goods.
The Council recommended retrospective amendment to replace "plant or machinery" with "plant and machinery" in section 17(5)(d) w.e.f. 01.07.2017, retrospective insertion of clause for SEZ/FTWZ warehoused goods in Schedule III with no refunds where tax was already paid, and insertion of an enabling provision and penal sanction for a Track and Trace Mechanism for specified evasion prone commodities, with procedural rules to follow after technology finalisation.
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