Central Goods and Services Tax (Fourth Amendment) Rules, 2017 - 17/2017 - Central GST (CGST)

Exchange Rate Determination updated for valuation of goods and services; amended invoice and return procedures streamline input tax credit reconciliation.

Amendments revise compliance deadlines and prescribe valuation and procedural mechanisms: exchange rates for goods follow customs-notified rates while services follow generally accepted accounting principles; input tax credit must be determined separately for each tax head and may be estimated by prevailing market price if invoices are absent; export invoices must carry prescribed endorsement wording and specified recipient, delivery and destination details; FORM GSTR-3B may be used when GSTR-1/2 deadlines are extended and mechanics for electronic generation, Part B modification and excess credit adjustment to the electronic ledger are provided.