Summary of Key GST Notifications from July 1, 2017, to August 14, 2023

The Goods and Services Tax (GST) regime, implemented in India from July 1, 2017, marked a significant shift in the taxation landscape. Since its inception, numerous notifications have been issued, refining and modifying the GST framework. Here’s a comprehensive summary of key GST notifications spanning from the rollout date to August 14, 2023.

Notification Highlights: July 1, 2017 – August 14, 2023

1. Central Tax Rate Notifications:

• Notification No. 1/2017-Central Tax (Rate):

  • Introduced the Central Tax Rates applicable to various goods and services.
  • Provided for exemptions, reduced rates, and special rates for specified items.

• Notification No. 2/2017-Central Tax (Rate):

  • Amended rates for specific goods and services.
  • Updated exemption list and composition scheme details.

• Notification No. 11/2017-Central Tax (Rate):

  • Special rates and exemptions for goods and services supplied to Special Economic Zones (SEZs).

2. Integrated Tax Rate Notifications:

• Notification No. 1/2017-Integrated Tax (Rate):

  • Prescribed rates for integrated tax applicable on the import of goods.

• Notification No. 8/2017-Integrated Tax (Rate):

  • Amended rates for integrated tax on goods and services.

3. Compensation Cess Notifications:

• Notification No. 1/2017-Compensation Cess (Rate):

  • Specified the rates of compensation cess on goods.
  • Amended rates through subsequent notifications.

• Notification No. 1/2018-Compensation Cess (Rate):

  • Revised rates for compensation cess on specified goods.

4. Exemption Notifications:

• Notification No. 2/2017-Central Tax (Rate):

  • Provided exemptions for intra-state supplies of specified goods and services.

• Notification No. 2/2018-Central Tax (Rate):

  • Amended exemptions and rates for goods and services.

5. Input Tax Credit Notifications:

• Notification No. 20/2018-Central Tax:
  • Prescribed the conditions and restrictions for availing input tax credit.

6. E-way Bill Notifications:

• Notification No. 27/2017-Central Tax:

  • Introduced E-way Bill requirements for the movement of goods.

• Notification No. 74/2018-Central Tax:

  • Amended E-way Bill provisions, including the exemption limit.

7. Other Significant Notifications:

• Notification No. 12/2017-Central Tax:

  • Provided for reverse charge mechanism for specified goods and services.

• Notification No. 64/2023-Central Tax:

  • Recent notification introducing changes in the GST return filing process.

Conclusion:

The GST notifications issued from July 1, 2017, to August 14, 2023, reflect the dynamic nature of the tax system. Regular updates and amendments are made to streamline processes, address industry concerns, and ensure effective tax administration. Businesses and tax practitioners must stay vigilant and adapt to these changes to maintain compliance and optimize tax benefits.