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The CBIC has issued Instruction No. 04/2022-GST dated 28 November 2022 regarding the Manner of processing and sanction of IGST refunds withheld in terms of CGST Rules 2017, transmitted to the jurisdictional GST authorities
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Notification No. 24/2022āCentral Tax:
Corresponding changes made in the CGST Rules 2017 to omit rules of constition, terms of services of chairman and member etc related to the National Anti-profiteering Authority. The authority for anti profiteering is the Competition Commission of India (CCI)
In simple words, from 01 December 2022, CCI shall examine whether ITC availed by any registered person or the reduction in the tax rate have actually resulted in a commensurate reduction in the price of the goods or services or both supplied by him
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Notification No. 23/2022-Central Tax:
From 01st December 2022, Competition Commission of India is empowered to handle anti-profiteering cases under CGST
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Notification No. 22/2022āCentral Tax:
Heading instructions of various tables of form GSTR 9 is amended to give effect the increased timeline for claiming ITC and amendment.
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The due date of GSTR-3B (Monthly) for the month of September 2022, is extended to 21st October 2022.
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Module wise new functionalities deployed on the GST Portal for taxpayers - September 2022
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Clarification regarding time limit for certain compliances pursuant to issuance of NN 18/2022-CT
History: As per the latest changes, For any particular financial year, you can avail Input Tax Credit or Issue credit note or rectify errors of GSTR1, GSTR 3B, GSTR 8 upto 30th November of the next financial year. The changes were made effective from 01st October 2022. Doubts have been raised regarding applicability of the extended timelines for the compliances for FY 2021-22.
It is clarified that the extended timeline is applicable to the compliances for FY 2021-22 onwards. Further, it is clarified that due dates of monthly/queterly returns are not extended.
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ā¹1,47,686 crore gross GST revenue collected in September 2022
Read more: https://pib.gov.in/PressReleasePage.aspx?PRID=1864082
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The facility for filing TRAN-1/ TRAN-2 or revising the earlier filed TRAN-1/TRAN-2 is available on the GST common from 01st October 2022 to 30th November 2022.
