Page 27 - GSTL_21st May 2020_Vol 36_Part 3

GST PITARA

Central GST Notifications

Transitional Credit - Retrospective amendment to Section 140 of CGST
Act, 2017 by Section 128 of Finance Act, 2020 to come into force from 18-5-2020.
— The Central Government has appointed 18-5-2020, as the date on which the
provisions of Section 128 of Finance Act, 2020, which has, retrospectively from 1-
7-2017, amended Section 140 of the Central Goods and Services Tax Act, 2017
prescribing the time-limits for taking transitional credits. — Notification No.
43/2020-C.T., dated 16-5-2020. (See page S7)

Central Excise Notifications

Sabka Vishwas (Legacy Dispute Resolution) Scheme Rules, 2019 -
Amendment of 2020. — The Central Government has amended the Sabka Vish-
was (Legacy Dispute Resolution) Scheme Rules, 2019 to provide that :
(i) Where the amount estimated to be payable by the declarant, as es-
timated by the Designated Committee, equals the amount declared
by the declarant under the Sabka Vishwas (Legacy Dispute Resolu-
tion) Scheme, 2019, then, the Designated Committee shall issue a
statement indicating the amount payable by the Declarant on or be-
fore 31-5-2020;
(ii) Where the amount estimated to be payable by the declarant exceeds
the amount declared by the declarant, then, the Designated Com-
mittee shall issue, on or before 1-5-2020, in Form SVLDRS-2, an es-
timate of the amount payable by the declarant along with a notice of
opportunity for personal hearing; and
(iii) Every declarant shall pay the amount, as indicated in Form
SVLDRS-3 issued by the Designated Committee, on or before 30-6-
2020. — Notification No. 1/2020-C.E. (N.T.), dated 14-5-2020. (See page
S7)

GST LAW TIMES  21st May 2020  27