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Introduction: The government has issued Notification No. 04/2024, directing Pan Masal and Tobacco taxpayers to provide specific information. This notification introduces two forms, GST SRM-I and GST SRM-II, for registration and reporting purposes. Taxpayers in this sector are mandated to comply with these requirements.

Detailed Analysis:

1. Notification Details: Notification No. 04/2024 – Central Tax, dated 05-01-2024, mandates Pan Masal and Tobacco taxpayers to furnish information. This notification aims to enhance transparency and regulatory oversight in the manufacturing and distribution of these goods.

2. Forms Overview: Two forms have been introduced: GST SRM-I and GST SRM-II. GST SRM-I facilitates the registration and disposal of machines used in manufacturing processes, while GST SRM-II collects data on inputs and outputs during a month. These forms serve as crucial tools for monitoring and regulating the industry.

3. Registration Process: Taxpayers can register their machines through the GST Portal using Form GST SRM-I. This streamlined process ensures compliance with the notification requirements. Additionally, the government plans to make Form GST SRM-II available on the portal shortly, enabling taxpayers to report input and output information efficiently.

4. Compliance Obligations: All taxpayers dealing in Pan Masal and Tobacco products, as specified in the notification, are obligated to utilize the GST Portal’s facility for registration and reporting. Compliance with these requirements is essential to avoid penalties and ensure regulatory adherence.

Conclusion: The issuance of Notification No. 04/2024 underscores the government’s commitment to regulating the Pan Masal and Tobacco industry effectively. By introducing GST SRM-I and GST SRM-II forms, the government aims to streamline registration and reporting processes for taxpayers in this sector. Compliance with these requirements is crucial for maintaining transparency, enhancing regulatory oversight, and combating illicit activities in the industry.

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GSTN

Information from manufacturers of Pan Masal and Tobacco taxpayers

May 16th, 2024

Government had issued a notification to seek information from taxpayers dealing in the goods mentioned therein vide Notification No. 04/2024 – Central Tax, dated 05-01-2024. Two forms have been notified vide this notification namely GST SRM-I and GST SRM-II. The former pertains to registration and disposal of machines while the later asks information on inputs and outputs during a month.

To begin with, facility to register the machines have been made available on the GST Portal to file the information in Form GST SRM-I. All taxpayers dealing in the items mentioned in the said notification may use the facility to file the information about machines. Form GST SRM-II will also be made available on the portal shortly.

Thanks,
Team GSTN

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