Rate of exchange rules and export invoice endorsements clarified, and electronic GSTR-3B filing with reconciliation mechanism instituted. The amendments substitute timelines and correct terminology; prescribe that exchange rates for goods follow Customs Board notifications while services follow generally accepted accounting principles for the time of supply; require export invoices to bear specified endorsements and include recipient and delivery details and country of destination in lieu of certain particulars; permit the Commissioner to mandate electronic filing of FORM GSTR-3B where time limits are extended and provide that FORM GSTR-3 will be electronically generated and reconciled against GSTR-3B with excess input tax credit credited to the electronic credit ledger.
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Rate of exchange rules and export invoice endorsements clarified, and electronic GSTR-3B filing with reconciliation mechanism instituted.
The amendments substitute timelines and correct terminology; prescribe that exchange rates for goods follow Customs Board notifications while services follow generally accepted accounting principles for the time of supply; require export invoices to bear specified endorsements and include recipient and delivery details and country of destination in lieu of certain particulars; permit the Commissioner to mandate electronic filing of FORM GSTR-3B where time limits are extended and provide that FORM GSTR-3 will be electronically generated and reconciled against GSTR-3B with excess input tax credit credited to the electronic credit ledger.
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