Govt. notifies GST Council recommendations deferring 'RCM', tweaking 'composition' provisions, & reducing 'rates'

Govt. notifies exemption from payment of tax on reverse charge basis in respect of supplies from unregistered suppliers u/s 9(4) of CGST Act, 5(4) of IGST Act and 7(4) of UTGST Act till March 31, 2018; Amends CGST Rules to – (i) allow registered / migrated taxpayers to opt for composition levy upto March 31, 2018 but they cannot furnish declaration in Form GST TRAN-1 after statement in Form GST ITC-03 has been furnished, (ii) prescribe the returns a composition ta...