Latest GST amendments, news and updates must be tracked by every business for ensuring timely and 100% compliance. Read on to get the latest developments from CBIC, GST Council and GST Network/portal on GST returns and compliances, e-way bills and e-invoicing systems.
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Latest GST amendments 2023 Updates
7th October 2023
The 52nd GST Council meeting took place at Sushma Swaraj Bhawan, New Delhi on 7th October 2023 and was chaired by the Union FM Nirmala Sitharaman. Read the complete highlights here.
2nd August 2023
The 51st GST Council meeting toook place on Wednesday, 2nd August 2023 via video conferencing. The Council discussed and approved the rules to implement the 28% GST levy on casinos, race courses and online gaming.
11th July 2023
50th GST Council meeting took place on 11th July 2023. Decision was taken to send intimations for excess ITC claims in GSTR-3B compared to GSTR-2B above a certain limit through DRC-01C to seek response. Further, GST on online gaming was fixed at 28% on full face value.
15th June 2023
50th GST Council meeting is happening on 11th July 2023. Read the latest news and the top expectations here.
12th June 2023
The NIC has made it mandatory for taxpayers with turnover more than Rs.100 Crore to login using the Two-factor Authentication from 15th July 2023 for both the e-invoicing and e-way bill system.
26th May 2023
CBIC has issued a fresh instruction on online scrutiny for FY 2019-20 onwards, in continuation with previously issued SOP for FY 2017-18 and 18-19.
16th May 2023
GSTR-9 and GSTR-9C filing facility for FY 2022-23 has gone live on the government portal.
11th May 2023
The department has launched the automated return scrutiny module in May 2023 from FY 2019-20 onwards. The move aims to streamline communication between GST officers and taxpayers, saving much time and effort for the parties involved.
10th May 2023
CBIC notified the 6th phase of e-invoicing. Hence, taxpayers with ₹5 Cr+ turnover in any financial year from 2017-18 shall issue e-invoices w.e.f 1st August 2023.
6th May 2023
The GST department has deferred the time limit of 7 days to report the old e-invoices on the e-invoice IRP portals by three months. Further, the department is yet to announce the new implementation date.
13th April 2023
As per the GST Network’s advisories dated 12th April 2023 and 13th April 2023, taxpayers with annual turnover equal to or more than Rs.100 crore must report tax invoices and credit-debit notes to IRP within 7 days of invoice date from 1st May 2023.
31st March 2023
CGST notifications 02/2023 to 08/2023 issued on 31st March 2023 brings GST Council recommendations into effect as follows-
(1) Amnesty schemes valid up to 30th June 2023 are introduced for late filers of GSTR-4, GSTR-9, GSTR-10, defaulters attracting Section 62 of the CGST Act (Best Judgement assessment) and for applying revocation of cancelled GST registration in REG-21.
(2) Risk based biometric aadhaar authentication for Gujarat is notified through CGST notification 05/2023 with effect from 26th December 2022.
(3) The extension of limitation period under Section 168A to issue orders under Section 79 (recovery proceedings) is extended for past years-
- For FY 2017-18 – up to 31st December 2023
- For FY 2018-19 – up to 31st March 2024
- For FY 2019-20 – up to 30th June 2024
1st February 2023
Updates from Budget 2023-
The decriminalisation of offences and extension of the composition scheme to e-tailers are a few key highlights from the Budget 2023. For complete GST highlights, read our Budget 2023 highlights
12th January 2023
An automated drop proceedings facility is available on the GST portal to revoke cancelled GSTINs where taxpayers file pending GST returns.
4th January 2023
CGST Notification 01/2023 was issued on 4th January 2023 to assign more powers vested with a Superintendent of central tax to the Additional Assistant Directors in DGGI, DGGST and DG Audit.
The Central Board of Indirect Taxes and Customs (CBIC) released food Central Tax (Rate) notifications and one Compensation Cess (Rate) notification on 28th February 2023. These are the GST rate changes announced earlier at the 49th GST Council meeting on 18th February 2023. All these GST rate revisions shall apply from 1st March 2023.
Notification No. 04/2023- Central Tax (Rate) grants GST exemption for Rab, also called liquid jaggery, sold lose or without pre-packaging. With this change, the GST rate has been cut on Rab/Liquid jaggery from 18% to nil for loosely sold Rab. Further, Notification No. 03/2023-Central Tax (Rate) has revised the GST rate on Rab sold pre-packaged and labelled from 18% to 5%.
GST on pencil sharpeners has been reduced from 18% to 12% by re-classifying it under the HSN code 8214. Notification No. 03/2023-Central Tax (Rate) brings this change with effect from 1st March 2023. Accordingly, the entry at Sl. No. 302A has been revised to exclude the reference to pencil sharpeners.
The GST Council, in its 49th meeting, had recommended taxing the services by courts and tribunals under the reverse charge mechanism. Accordingly, Notification No. 02/2023-Central Tax (Rate) revises the original Notification No. 13/2017- Central Tax (Rate) to include courts and tribunals in its scope.
The government also issued Notification No. 01/2023-Central Tax (Rate) on 28th February 2023, revising to extend the GST exemption to another service. Any Board, authority, or body set up by the Central or State Government, including the National Testing Agency (NTA) conducting entrance examinations for admission into educational institutions, will be treated as an educational institution. The exemption will be considered for the limited intent of providing such services alone and not any other.
Lastly, the CBIC issued the 01/2023-Compensation Cess (Rate) notification that revises Notification No. 1/2017- Compensation Cess (Rate), dated 28th June 2017. Accordingly, the coal rejects either sold to or by a coal washery originating out of coal on which cess is already paid, and the tax credit is not claimed, is exempted from cess. It means the exemption has been extended to coal rejects supplied to coal washeries apart from the supplies by coal washeries.
for read more information about GST you can read this article GST Registration in India.
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