<h1>GST update: constitutional basis, amended input tax credit, revised thresholds, composition scheme and new invoice level return system.</h1> The update sets out the GST constitutional and statutory architecture, establishment and powers of the GST Council, and amendments widening input tax credit and rationalising cross utilisation. It summarises registration thresholds, migration relief, an enhanced Composition Scheme with simplified quarterly compliance, allocation of tax administration between Centre and States, and operational rules on reverse charge, returns (including a phased new ANX based system), e way bills, ITC timelines, TDS/TCS, electronically enabled refunds and transitional arrangements for real estate and exporters.