Recent GST Updates – July 2022: CBIC issued Notification No. 09/2022–Central Tax to Notification No. 14/2022–Central Tax on 05th July 2022 and these notification were issued to Implement  Recommendations of 47th GST Council Meeting.

NOTIFICATIONs Detailed Short
NOTIFICATION
No. 09/2022–Central Tax
Balance available in E-Cash ledger can be transferred from one tax type ledger to another tax type ledger like from IGST to CGST/SGST or vice-versa Transfer of E-Cash balance on same GSTIN
NOTIFICATION
No. 09/2022–Central Tax
IGST or CGST balance available in E-Cash ledger can be transferred to another GSTIN on same PAN Transfer of E-Cash balance on another GSTIN on same PAN
NOTIFICATION
No. 09/2022–Central Tax
Power inserted to put the restriction on utilisation of balance available in E Credit Ledger Restriction on utilisation of E Credit Balance
NOTIFICATION
No. 09/2022–Central Tax
In case of wrongly availment of ITC, Interest will be applicable only after utilisation of ITC. Maximum rate of interest is 24%
(Manner of computation of interest is notified u/r 88B)
No ITC Utilisation – No Interest liability
(w.e.f. 01.07.2017)
NOTIFICATION
No. 10/2022–Central Tax
GSTR 9 is not required to be filed for FY 2021-22 where Aggregate Turnover is <= 2 Crore for FY 2021-22 GSTR- 9 Optional where A.T.O <=2 Crores
NOTIFICATION
No. 11/2022–Central Tax
CMP-08 last date for Q1 of FY 2022-23 is 31.07.2022 CMP-08 due date prescribed
NOTIFICATION
No. 12/2022–Central Tax
Waiver of late fees upto the period of 28.07.2022 for GSTR-4 of FY 2021-22 GSTR-4  – late fees waived off
NOTIFICATION
No. 13/2022–Central Tax
Demand Order for FY 2017-18 can be issued upto 30.09.2023 (Almost extend the period of 6 months).
As per law, Demand Order can be issued within 3 Years from filing of annual return.
Last date of Demand Order for FY 2017-18  – 30.09.2023
( w.e.f. 01.03.2020)
NOTIFICATION
No. 13/2022–Central Tax
For recovery of erroneous refund, period from 01.03.2020 to 28.02.2022 shall not be counted to compute 3 years from filing of Annual Return Extension of period for issuance of demand order
(w.e.f. 01.03.2020)
NOTIFICATION
No. 13/2022–Central Tax
To claim the refund, period from 01.03.2020 to 28.02.2022 shall not be counted to compute 2 years from relevant date Extension of period to claim the refund
(w.e.f. 01.03.2020)
NOTIFICATION
No. 14/2022–Central Tax
Value of duty & credit scrips shall not be considered as exempt supply for purpose of reversal of ITC u/r 42/43 Updation of Rule 42/43
NOTIFICATION
No. 14/2022–Central Tax
Where e-invoice is not issued – declaration to be made on invoice:

“I/We hereby declare that though our aggregate turnover in any preceding financial year from 2017-18 onwards is more than the aggregate turnover notified under sub-rule (4) of rule 48, we are
not required to prepare an invoice in terms of the provisions of the said sub-rule.”

Declaration to be given on every invoice other than e-invoice regarding e-invoice not applicable due to A.T.O
NOTIFICATION
No. 14/2022–Central Tax
Now, the GST liability can be deposited via UPI or IMPS too UPI & IMPS allowed
NOTIFICATION
No. 14/2022–Central Tax
All GSTR 9 & 9C relief which were available for FY 2020-21 are carried forward to FY 2021-22 except HSN wise details mandatorily required to report in GSTR 9 GSTR 9 & 9C Relief carried forward to FY 2021-22
NOTIFICATION
No. 14/2022–Central Tax
Updation of Refund Norms & GSTR 3B FORM Refund & GSTR 3B

The above is personal view of author. The Author is not responsible for any loss caused to any person by relying on the above.

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