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CBIC has issued notifications on 5th July giving effect to the recommendations of the GST Council for exemptions in compliances, extension of due dates, and bringing into effect certain provisions of the Finance Act 2022 along with the amendments in the CGST Rules.

Also Read: Recommendations of 47th GST Council Meeting

Notification No 09/2022-Central Tax dated 5th July,2022 notified the amendment made in Section 49(10) & section 50(3) of CGST Act,2017 vide Finance Act 2022.

1. Section 49(10): A registered person can now transfer the balance in electronic cash ledger under this Act, to the ECL for

    • IGST, CGST, SGST/UGST, Cess etc.
    • IGST & CGST of a distinct person.

Note: Balance can only be transferred to the distinct person if the person has not any unpaid liability in electronic liability register.

2. Retrospective amendment u/s 50(3) w.e.f. 1 July 2017, in respect of interest, the same shall be payable not more than 24%, on the wrongly availed input availed & utilised.

Notification No 10/2022-Central Tax dated 5th July,2022

Taxpayers having Annual aggregate turnover up to Rs. 2 crores shall exempt from filing annual return in Form GSTR-9/9A for the financial year 2021-22

Notification No 11/2022-Central Tax dated 5th July,2022

Composition taxpayers’ self-assessment tax statement (Form CMP-08) deadline for Apr-Jun’22 extended from 30th June to 31st July 2022.

Notification No 12/2022-Central Tax dated 5th July,2022

Late fee waiver for delayed filing of GSTR-4 for FY 2021-22 extended from 18th July,2022 to 28th July 2022.

Notification No 13/2022-Central Tax dated 5th July,2022 seek to extend date of specified compliances in exercise of power under section 168A of CGST Act w.e.f. 1st March 2020.

1. Time limit to issue notice u/s 73(10) for recovery of tax not paid, short paid or of ITC wrongly utilized for FY 2017-18 shall be allowed till 30th September 2023.

2. Time period between 1st March 2020 to 28th February 2022 excluded for the computation of period of limitation u/s 73(9) (issuance of orders for recovery of erroneous refunds).

3. Time period between 01-03-2020 to 28-02-2022 excluded for the computation of period for filing of refund application u/s 54 & 55.

Notification No 14/2022-Central Tax dated 5th July,2022 with respect to amendments in the CGST Rules.

Revocation of GST registration Suspension: If the registration has been suspended due to non-filing of GST return but not cancelled by proper officer, shall be deemed to be revoked upon filing of all pending returns.

Duty Credit Scrip: The value of duty credit scripts shall be not included in the aggregate value of exempt supplies for the reversal of common credits under Rule 42 and 43.

Declaration on the invoice: The taxpayers having aggregate turnover exceeding ₹20 crores in any of the FY from 2017-18 and onwards, but not mandated to generate e-invoice shall be required to provide a declaration to that effect in the invoices issued by them.

Erroneous refund: If the registered person deposited the erroneous refund amount along with interest & penalty through cash ledger, then an amount equivalent to the deposit by taxpayers through DRC-03, shall be re-credited to electronic credit ledger by proper officer by an order made in FORM GST PMT-03A.

UPI and IMPS shall be allowed as modes of payment towards tax, interest, penalty, fees, or any other amount.

FORM GST PMT-09 shall be used for the transfer of Cash ledger amount of CGST to the ECL for CGST or IGST of distinct person.

Levy of interest on Net Cash liability and ITC wrongly utilised: Changes has been incorporated in Rule 88B regarding

1. interest calculation only on the Net liability after utilising the input for the delay in filing of GST return and

2. in case of ITC wrongly availed, interest shall be calculated on the amount of ITC availed & utilised.

Format for GSTR-9 and 9C for FY 2021-22 and other forms have been amended as per the changes in relevant provisions.

Refund of accumulated ITC on the export of electricity: The documentary evidence for claiming a refund on accumulated credits on the export of electricity has been notified to ease the process of claiming refunds.

Value of exports for claiming refund of accumulated ITC: For claiming refund of accumulated ITC on the export of goods, the value of goods shall be taken as lesser of the

1. declared FOB value in the Shipping bill or Bill of Export or

2. value declared in the tax invoice/bill of supply

Refund of accumulated credits due to inverted duty structure: The Formula has been amended to consider utilization of ITC on account of inputs and input services in the same ratio in which ITC had been availed during the said tax period.

Rule 95A providing differential treatment for a refund on supplies from Duty-Free Shops at international terminals has been withdrawn retrospectively from 1st July 2019.

Refund of IGST paid on export of goods: Rule 96 has been retrospectively amended from July 2017 to make refund claims for exports of goods contingent on the matching of shipping details with GSTR-1 and, to provide for withholding of refunds where additional verification may be required.

GSTR-3B: The format of GSTR-3B has been revised for reporting the supply of services through aggregators/e-commerce operators, the tax on which shall be paid by such operators. Table 4 for the ITC claims has also been revised.

GSTR-9/9C: The format for GSTR-9 and 9C for FY 2021-22 and other forms have been amended/inserted in line with the changes in relevant provisions.


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April 2024