Amended Central GST Rules provide inter alia procedure for export under bond, 'Demand & Recovery' provisions

Govt. releases revised Central GST Rules 2017 with amended provisions relating to ‘Input Tax Credit’, ‘Refund’ and ‘Transitional Provisions’, and newly inserted Chapters on ‘Inspection, Search and Seizure’, ‘Demands & Recovery’ and ‘Offences & Penalties’; Accordingly, amends Rule 44 to provide for determination of ITC in respect of inputs held in stock, inputs contained in semi-finished and finished goods held in stock, and capital goods held i...