The Central Board of Indirect Taxes & Customs (“CBIC”) vide its Circular No. 88/07/2019 – GST dated February 01, 2019 has made amendment in certain circulars which were issued earlier under the CGST Act, 2017 w.e.f. February 01, 2019. The following are the gist of the amended circulars discussed here under for the ease of the understanding.
| Sr. No | Circulars Issued in Earlier CGST Act, 2017 | Amended Provisions as per CGST Amendment Act, 2018 |
| 01. | Circular No. 8/8/2017 dated 04.10.2017 – Clarification on issues related to furnishing of Bond/LUT for exports | The circular is revised in view of the amendment carried out in section 2(6) of the IGST Act, 2017 vide section 2 of the IGST (Amendment) Act, 2018 allowing realization of export proceeds in INR, wherever allowed by the RBI. |
| 02. | Circular No. 38/12/2018 dated 26.03.2018 – Clarifications on issues related to Job Work | This circular is revised in view of the amendment carried out in section 143 of the CGST Act, 2017 vide section 29 of the CGST (Amendment) Act, 2018 empowering the Commissioner to extend the period for return of inputs and capital goods from the job worker. Further on account of amendment carried out in section 9(4) of the CGST Act, 2017 vide section 4 of the CGST (Amendment) Act, 2018 done in relation to reverse charge, certain amendments to the Circular are required. |
| 03. | Circular No. 41/15/2018 dated 13.04.2018 – Clarifying the procedure for interception of conveyances for inspection of goods in movement, and detention, release and confiscation of such goods and conveyances | This circular is revised in view of the amendment carried out in section 129 of the CGST Act, 2017 vide section 27 of the CGST (Amendment) Act, 2018 allowing 14 days for owner/transporter to pay tax/penalty for seized goods. |
| 04. | Circular No. 58/32/2018 dated 04.09.2018 – Recovery of arrears of wrongly availed CENVAT credit under the existing law and inadmissible transitional credit. | This circular is revised in order to streamline the modes of recovery. |
| 05. | Circular No. 69/43/2018 dated 26.10.2018 – Processing of Applications for Cancellation of Registration submitted in FORM GST REG-16 | The circular is revised in view of the amendment carried out in section 29 of the CGST Act, 2017 vide section 14 of the CGST (Amendment) Act, 2018 allowing suspension of registration. |
The detailed circular can be accessed at: http://www.cbic.gov.in/resources//htdocs-cbec/gst/circular-cgst-88.pdf