Amendments to the GST rules include:
- An alternative composition scheme for certain suppliers having an annual turnover up to INR 50 lakhs
- A higher exemption threshold through the specific request of the state and recommendation of the GST council
- Modes of electronic payment for specified suppliers
- Due date measures regarding the annual return and reconciliation statement and the monthly and annual statement
- Transfer of any tax, interest, penalty, fee or other amount available in the electronic cash ledger to the electronic cash ledger for integrated tax, central tax, state tax, union territory tax, or cess
- National anti-profiteering authority penalties
Source KPMG
