The definition of “address of delivery” has been changed, the wording of “by a taxable person” has been replaced with “by a registered person” and new definition has been added for “registered person”. A Registered person includes all who are all required to take registration under GST except for persons having been issued “Unique Identification Number”.
The definition of “agriculture” has been dropped and the definition for “agriculturist” has been changed. Now “agriculturist” includes, who cultivates land on his own or with the help of the family or by employing from outside by payment of wages in cash or in kind.
Goods and Service Tax is applicable whole of India except in the state of Jammu and Kashmir. Definition of India is added in section 2 and it is as per article 1 of the Constitution of India.
The maximum tax rate applicable under CGST ss 20% , for IGST the tax rate cannot exceed 40% and for the UT GST Bill the max rate is given as 20% as per the CGST Bill, IGST Bill and UT – GST Bill introduced in the Parliment on 27th Mar 2017.
Tax Invoice under has GST has to be issued in Three Copies for the supply of goods, first one is to be marked as “ORIGINAL FOR RECIPIENT”, the copy second should be marked as “DUPLICATE FOR TRANSPORTER” and the third copy should be marked as “TRIPLICATE FOR SUPPLIER.”
The tax invoice numbering under GST should be alpha or numeric or alpha-numeric. It should not contain any special characters like “/” or “-” etc., and for each year the number should be a unique number and the length of the invoice number less than or equal to 50 characters.
Every tax invoice issued by the taxpayer under GST should have HSN (Harmonized System Nomenclature) Code in the case of supply of goods and in the case of supply of services SAC (Services Accounting Code)