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of <h1>GST rule changes: reverse charge expanded, time-of-supply rules removed, ITC on plant/machinery clarified, track-and-trace added.</h1> Definitions are amended to (i) extend 'reverse charge' references to liabilities arising under IGST Act section 5(3) and 5(4) (effective 1 April 2025), (ii) define 'local fund' and 'municipal fund', and (iii) define 'unique identification marking'. Sections 12(4) and 13(4) are omitted, altering statutory time-of-supply provisions by deleting those sub-sections. Section 17(5)(d) retrospectively substitutes 'plant and machinery' for 'plant or machinery' from 1 July 2017 and deems the construction accordingly, affecting input tax credit blockage. Output tax liability reduction on credit notes is restricted unless corresponding ITC is reversed by the registered recipient or tax incidence is not passed on. Filing under section 39 is made subject to prescribed conditions and restrictions. Appeals against penalty-only orders require 10% pre-deposit at first and second appellate stages. A track-and-trace mechanism for notified goods is enabled, with penal consequences for contravention. Schedule III treats specified SEZ/FTWZ warehoused supplies before clearance as neither supply, with a bar on refunds of tax already collected.
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