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CBIC notifies the provisions of clause (c) of section 110 and section 111 of the Finance Act, 2022.  Section 110 of Finance Act, 2022 related to amendment in Section 49 of of CGST Act, 2017 and section 111 of the Finance Act, 2022 relates to amendment in section 50 of the Central Goods and Services Tax Act which relates to Interest on delayed payment of tax. These amendments are effective from  5th day of July, 2022. Notification No. 09/2022–Central Tax | Dated: 5th July, 2022

Extract of Amendment to Section 49 of CGST Act, 2017  – Payment of tax, interest, penalty and other amounts

CBIC notifies amendment to Section 49 of CGST Act, 2017 which related to Payment of tax, interest, penalty and other amounts. In this section for sub-section (10), the following sub-section shall be substituted, namely:

(10) A registered person may, on the common portal, transfer any amount of tax, interest, penalty, fee or any other amount available in the electronic cash ledger under this Act, to the electronic cash ledger for,––

(a) integrated tax, central tax, State tax, Union territory tax or cess; or

CBIC notifies amendment to section 49 & 50 of CGST Act wef 05.07.2022

(b) integrated tax or central tax of a distinct person as specified in sub-section (4) or, as the case may be, sub-section (5) of section 25, in such form and manner and subject to such conditions and restrictions as may be prescribed and such transfer shall be deemed to be a refund from the electronic cash ledger under this Act:

Provided that no such transfer under clause (b) shall be allowed if the said registered person has any unpaid liability in his electronic liability register. 

Extract of Amendment to Section 50 of CGST Act, 2017  – Interest on delayed payment of tax

In section 50 of the Central Goods and Services Tax Act, for sub-section (3), the following sub-section shall be substituted and shall be deemed to have been substituted with effect from the 1st day of July, 2017, namely:––

“(3) Where the input tax credit has been wrongly availed and utilised, the registered person shall pay interest on such input tax credit wrongly availed and utilised, at such rate not exceeding twenty-four per cent. as may be notified by the Government, on the recommendations of the Council, and the interest shall be calculated, in such manner as may be prescribed.”.

Ministry of Finance
(Department of Revenue)
(Central Board of Indirect Taxes and Customs)
New Delhi

Notification No. 09/2022–Central Tax | Dated: 5th July, 2022

S.O. 3070(E). In exercise of the powers conferred by clause (b) of sub-section (2) of section 1 of the Finance Act, 2022 (6 of 2022), the Central Government hereby appoints the 5th day of July, 2022, as the date on which the provisions of clause (c) of section 110 and section 111 of the said Act shall come into force.

[F.No.CBIC-20001/2/2022-GST]

RAJEEV RANJAN, Under Secy.

Title Notification No. Date
Central Goods and Services Tax (Amendment) Rules, 2022 Notification No. 14/2022–Central Tax [G.S.R. 517(E)] 05/07/2022
CBIC extends compliance dates related to tax recovery & GST Refund Notification No. 13/2022–Central Tax [G.S.R. 516(E)] 05/07/2022
CBIC extends waiver of late fee for delay in filing FORM GSTR-4 Notification No. 12/2022–Central Tax [G.S.R. 515(E)] 05/07/2022
CBIC extends due date of furnishing FORM GST CMP-08 for June 2022 Notification No. 11/2022–Central Tax [G.S.R. 514(E)] 05/07/2022
Taxpayers having AATO upto Rs. 2 crores exempted from annual GST return Notification No. 10/2022–Central Tax [G.S.R. 513(E)] 05/07/2022
CBIC notifies amendment to section 49 & 50 of CGST Act wef 05.07.2022 Notification No. 09/2022–Central Tax [S.O. 3070(E)] 05/07/2022

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