Changes made consequent to the 47 meeting of the GST Council

Ø Enhanced refunds under inverted duty structure
Ø Transfer of credit between distinct persons allowed
Ø Concessional rate supplies made eligible for inverted duty refunds
Ø No Interest liability on availment of credit without utilisation
Ø Time limits for demands and recovery extended till September 2023 for FY 2017-18
Ø Penalty applicable on persons involved in the issuance and credit of fake invoices
Ø Relaxation in compliances for composition dealers
Ø Various Clarifications relating to credit availment and other changes