https://www.taxtmi.com/article/detailed?id=8353 The Act revises definitions and supply classification, requires activities to qualify as "supply" before Schedule II classification, expands Schedule III non taxable entries, and empowers notifications for reverse charge liabilities. It substantially reforms input tax credit rules-defining eligible transitional duties, clarifying deemed receipt for ITC, refining blocked credit exceptions for vehicles and related services, and introducing provisions to prioritise and prescribe order of ITC utilisation. Procedural reforms include new return verification and matching on a common portal, expanded registration rules including SEZ units, suspension during cancellation proceedings, consolidated credit/debit notes for multiple invoices, and capped pre deposits for appeals. en-us Fri, 01 Feb 2019 06:47:18 +0530 Fri, 01 Feb 2019 11:10:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8353 The Act revises definitions and supply classification, requires activities to qualify as "supply" before Schedule II classification, expands Schedule III non taxable entries, and empowers notifications for reverse charge liabilities. It substantially reforms input tax credit rules-defining eligible transitional duties, clarifying deemed receipt for ITC, refining blocked credit exceptions for vehicles and related services, and introducing provisions to prioritise and prescribe order of ITC utilisation. Procedural reforms include new return verification and matching on a common portal, expanded registration rules including SEZ units, suspension during cancellation proceedings, consolidated credit/debit notes for multiple invoices, and capped pre deposits for appeals. Articles Goods and Services Tax - GST Fri, 01 Feb 2019 06:47:18 +0530 https://www.taxtmi.com/article/detailed?id=8353