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of <h1>GST Law Changes 2017-19: Reverse Charge Suspension, Composition Levy Hike, and Advance Tax Exemptions Explained</h1> Annexure 12 outlines significant changes in GST laws and rates for 2017-18 and 2018-19, focusing on the Reverse Charge Mechanism (RCM), Composition Levy, and tax on advances. RCM shifted tax liability from suppliers to recipients, with specific notifications detailing applicable goods and services. The provision for RCM was suspended from October 2017 and amended in February 2019. The Composition Levy threshold increased from 75 lakh to 1 crore rupees, with rate reductions for manufacturers and traders. Tax on advances was exempted for certain turnovers. Amendments to the SGST/CGST and IGST Acts addressed service imports, input tax credit, and export service criteria.
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