Rental services to registered taxpayers now explicitly included in tax-rate schedule; insurance agent definition aligned.
The notification amends the State Tax (Rate) schedule by inserting an entry for services supplied by Central/State/Union territory or local authorities consisting of renting of immovable property to persons registered under the Telangana GST Act, and adds an Explanation defining "insurance agent" by reference to clause (10) of section 2 of the Insurance Act, 1938; the amendments are made effective from 25th January, 2018.

Tariff value fixation for specified imports updated, setting US dollar-based values and amending prior notification.
The amendment substitutes TABLE-1, TABLE-2 and TABLE-3 of the principal customs notification to prescribe US dollar-denominated tariff values per metric tonne for specified edible oils, brass scrap, poppy seeds and areca nut, and US dollar values for gold and silver when certain notification benefits are availed, thereby updating the tariff value schedule for those imported goods.

GST rate amendments expand concessional treatment for affordable housing projects and clarify valuation and input tax credit rules.
Amendments to the Telangana State Tax (Rate) Notification No.11/2017 modify entries and rates for specified taxable services and composite supplies under the Telangana GST Act, 2017, extending concessional treatment to in-situ slum redevelopment, EWS and other affordable housing under PMAY (Urban), adding exemptions for buildings used for mid-day meal distribution by 12AA entities, refining composite works contract entries for sub-contractors to governmental purchasers, imposing valuation rules deeming land to be one third of composite charges, and clarifying input tax credit conditions; effective 25 January 2018.

GST exemption scope updated to redefine eligible research institutions and align state exemption with central customs notification.
Amendment to the Punjab GST notification substitutes the Table entry to specify public funded research institutions, universities and certain national institutes (excluding hospitals), replaces references with the nomenclature "Department of Scientific and Industrial Research" in specified items, re-numbers the existing Explanation as Explanation 1 and inserts an Explanation 2 aligning the state exemption with the central customs notification and making that alignment applicable from the stated retrospective applicability.

Exemption of state tax on intra state supplies of used motor vehicles by taxing only the supplier's margin at reduced rates.
Exempts State tax on intra state supplies of specified old and used motor vehicles by taxing only the supplier's margin at prescribed reduced rates; margin for depreciated (tax claimed) goods equals sale consideration less depreciated value, otherwise equals selling price less purchase price, with negative margins ignored. The exemption does not apply where input tax credit, CENVAT or VAT credit has been availed. Vehicle classification follows Motor Vehicles Act specifications and the measure operates under section 11 of the Punjab GST Act with a stated effective date.

GST schedule amendment updates tariff entries for animal feeds, de oiled rice bran, oil cakes, minerals and hearing aid parts.
Amendment to the GST Schedule substitutes the column (3) description at S. No.102 to list aquatic, poultry and cattle feeds and related items (other than rice bran); inserts new serials for de oiled rice bran and cotton seed oil cake; updates the commodity code at S. No.136A; adds "other than ghamella" to S. No.137; substitutes "Vibhuti" at S. No.148 item (v); and inserts parts for manufacture of hearing aids. The amendment is effective retrospectively from 25 January 2018.

GST rate schedule amendment updates classifications and applicable rates across multiple goods, altering taxable treatment and exceptions.
The notification amends Punjab GST tariff Schedules I-VI by inserting, substituting and omitting specified goods and tariff entries, thereby altering their GST rate classifications and scope (including additions such as tamarind kernel powder, mehendi paste in cones, liquefied petroleum gases for household supply, listed bio-pesticides, bio-diesel, bamboo wood joinery, sprinklers and irrigation equipment, buses running on bio-fuels, cigarette filter rods, and others), and refines exceptions and exclusions; these changes are declared effective from the stated operative date.

Exemption of intra State mining service supplies under licence or lease from state GST on government's profit petroleum consideration.
The intra State supply of services by way of grant of license or lease to explore or mine petroleum crude or natural gas is exempt from state GST to the extent the tax would be leviable on the consideration paid to the Government as the Government's share of profit petroleum under the contract.

State tax liability on development rights-construction service exchange arises on transfer of possession or rights.
Notification under section 148 notifies two classes of registered persons where consideration is exchanged between development rights and construction services: persons supplying development rights against construction service, and persons supplying construction service against development rights. State tax liability on such supplies arises when the developer or builder transfers possession or the right in the constructed complex, building or civil structure to the supplier of development rights by entering into a conveyance deed or similar instrument.

Services by Government renting immovable property exempt when recipient is registered under central GST, per Punjab notification amendment.
The amendment adds entry 5A to the notification to specify that services by Central/State/UT/local authorities consisting of renting immovable property to persons registered under the Central GST Act are covered as set out, and inserts an Explanation clause defining "insurance agent" by reference to its statutory meaning.

GST exemptions expanded to include Government Entities and specified service categories, with new IFSC and educational service clarifications.
Amendment to Punjab SGST exemption notification expands eligible public recipients by adding "Government Entity"; inserts an exemption for composite supplies where goods constitute not more than twenty five percent of the composite value for supplies to government bodies in relation to Panchayat and Municipality functions; adds or modifies specific exempt service entries including life insurance for Coast Guard personnel, fumigation of agricultural warehouses, IFSC intermediary services to non resident customers in foreign currency, RTI services, and educational service clarifications; and revises temporal and monetary thresholds and sunset conditions for certain transportation exemptions.

GST amendment clarifies housing and real estate classification, composite works contract treatment and deemed land valuation rule.
The notification amends the Punjab GST Table to add and reclassify construction and real estate entries (including in situ slum redevelopment, EWS and CLSS housing, low cost affordable housing, and mid day meal buildings), revises composite works contract treatment and provisos for supplies to government entities, prescribes deemed valuation rules treating land transfer as one third of total consideration, and modifies service headings and tax rates with conditions restricting input tax credit for specified housekeeping and support services.

Refund sanction exceptions under Punjab GST now exclude certain sub rules of rule 96, narrowing officers' refund sanction scope.
The Governor, on Council recommendation and with effect from 23 January 2018, amends the earlier notification to add an exclusion for sub rules (1) to (8) and (10) of rule 96 of the Punjab Goods and Services Tax Rules, 2017, thereby removing those specified sub rules from the delegation or treatment previously provided to officers for sanctioning refunds of registered persons located in their territorial jurisdiction.

Common GST Electronic Portal designated: centralized GST and e way bill portals now specified for registration and returns.
The Governor notifies www.gst.gov.in as the Common Goods and Services Tax Electronic Portal for registration, payment of tax, furnishing of returns and computation and settlement of integrated tax, and www.ewaybillgst.gov.in as the Common Goods and Services Tax Electronic Portal for furnishing electronic way bills, identifying their managing agencies and superseding the earlier Punjab notification, with effect from the stated commencement date.

Late fee waiver for GSTR-6 non-filing removes excess daily penalties for registered persons under Punjab GST law.
Waiver of late fee for registered persons failing to furnish FORM GSTR-6 by the due date limits liability by relieving any late fee amount in excess of twenty-five rupees per day; the waiver is issued under the powers conferred by section 128 of the Punjab GST Act on the Council's recommendation and operates with effect from 23rd January, 2018.

Late fee waiver for delayed FORM GSTR-5A filings caps recoverable fee per day, with a lower cap where integrated tax is nil.
The notification waives late fee amounts in excess of a prescribed daily threshold for failure to furnish FORM GSTR-5A by the due date, thereby capping recoverable late fee at that threshold per day; where the total integrated tax payable in the return is nil, a lower daily threshold is prescribed and the waiver limits recoverable late fee to that reduced threshold per day.

Late fee waiver for GSTR-5 delays: minimal excess daily penalties are waived under the applicable GST provision.
Waiver of late fee is granted for registered persons who fail to furnish the return in FORM GSTR-5 by the due date, effective from 23 January 2018, so that the State waives the portion of the late fee which exceeds a nominal per-day threshold. Where the total amount of central tax in the return is nil, a lower nominal per-day threshold applies and the State waives the portion of the late fee exceeding that reduced amount for each day the failure continues.

Late fee waiver for GSTR-1 non-filing limits daily penalty excess and provides reduced charge for no-activity periods.
The notification waives any amount of late fee for failure to furnish FORM GSTR-1 that exceeds a prescribed daily threshold, and provides a lower daily threshold where there are no outward supplies in the relevant month or quarter, thereby reducing the late-filing penalty exposure for registered persons.

E-way bill generation mandatory before movement of goods with updated electronic reporting and validity rules under amended Punjab GST rules.
The Punjab GST rules amend timelines, valuation and invoicing: extending a specified period to one hundred and eighty days; revising turnover based percentage expressions in rate tables; introducing rule 31A to fix value of supply for State and authorised lotteries and actionable claims in betting; excluding certain notified services and specified financial interest consideration from aggregate exempt supplies; prescribing detailed invoice particulars for Input Service Distributor credit transfers; requiring carriage of tax invoice where no e way bill is needed; and substantially overhauling e way bill generation, data requirements, validity, exemptions and related forms.

Abridged financial statements requirement: companies complying with Ind AS must submit Form AOC-3A detailing salient financial disclosures.
The amendment to the Companies (Accounts) Rules, 2014 requires companies subject to Ind AS to forward their statement in Form AOC-3A. Form AOC-3A prescribes an abridged set of financial disclosures - abridged balance sheet, statement of changes in equity, profit and loss, and cash flow - together with notes specifying availability of full statements, consistency with Schedule III aggregates, disclosures of material accounting changes, contingent liabilities, auditor qualifications, related party transactions under Ind AS 24, segment reporting, and requirements for abridged consolidated statements and accompanying auditor's report.