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We are pleased to share the summary of the GST notifications issued by the CBIC on 5th July to bring into effect the recommendations of the GST Council for exemptions in compliances, extension of due dates, and notifying certain provisions of the Finance Act 2022 along with the amendments in the CGST Rules.

The notifications are summarised below:

Notification 10/2022: Exemption from filing GSTR-9/9A

Taxpayers having aggregate annual turnover up to ₹2 crores shall be exempted from filing annual return in FORM GSTR-9/9A for FY 2021-22.

Notification 11/2022: Extension of due date for filing CMP-08

The due date for filing CMP-08 for April – June 2022 for composition taxpayers has been extended from 18 July to 31st July 2022.

Notification 12/2022: Waiver of late fees for delay in filing GSTR-4

The late fee for delay in filing GSTR-4 by composition dealers for the year 2021-22 shall stand waived for the period till 28 July 2022.

Notification 13/2022: Extension of time limit for issuance of notices for FY 2017-18 and filing of refund claim/order for recovery of erroneous refunds

The issuance of an order under section 73(9) for recovery of tax not paid/short paid or input tax credit wrongly availed/utilized for 2017-18 shall be allowed till 30 September 2023.

The period between 1 March 2020 and 28 February 2022 shall be excluded for computation of the limitation period for filing of refund claims and issuance of orders for recovery of erroneous refunds.

Notification 14/2022: CGST (Amendment) Rules

Revocation of suspension: The suspension of registration due to non-filing of returns for the specified period by regular taxpayers and within 3 months of the due date by the composition dealer shall be revoked on the filing of all previous returns if the registration has not been already cancelled.

Duty credit scripts: The value of duty credit scripts shall be excluded from 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/IRN (such as banks, FI, NBFC, SEZ developers) shall be required to provide a declaration to that effect in the invoices issued by them.

Re-credit on payment of the amount debited for erroneous refunds: On deposit of the amount erroneously sanctioned as refunds of accumulated ITC and IGST paid on exports, along with interest and penalty, such amount (debited earlier) shall be re-credited to the electronic credit ledger.

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

Transfer of balance from cash ledger: The balance from an electronic cash ledger shall be allowed to be transferred towards IGST/CGST between the registrations obtained on the basis of the same PAN, provided there are no unpaid liabilities. The corresponding amendment in section 49 has also been notified.

Levy of interest on net cash liability and ITC incorrectly utilised: Rule 88B has been inserted making changes in line with the provisions of section 50 for levy of interest only on the net tax liability i.e. on the portion of the tax paid in cash and the ITC that has been wrongly availed and utilised. The corresponding retrospective amendment in section 50 has also been notified.

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 the purpose of claiming refund of accumulated ITC on the export of goods, the value of goods shall be taken as lesser of the declared FOB value or value declared in the tax invoice/bill of supply.

Refund of accumulated credits due to inverted duty structure: The formula for the maximum amount of refund of input tax credits that can be claimed on account of inverted duty structure 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.

Supplies from Duty-Free shops shall be treated as exports: Rule 95A providing differential treatment for a refund on supplies from Duty-Free Shops at international terminals has been withdrawn retrospectively from 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.

GTR-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.

Komal Vithalani

Komal Vithalani

Content Writer

Komal Vithalani, a Chartered Accountant and Commerce graduate, is a dedicated professional committed to delivering value with years of expertise in navigating the complexities of indirect tax laws. Her practical excellence includes managing perplexed litigations, dispensing tactical tax advice, conducting thorough compliance checks, supervising audits, and crafting articulate and insightful content. At Cygnet, Komal seamlessly blends her profound understanding of tax regulations with cutting-edge tax technology. Leveraging her competence, she adeptly transforms complex tax tech jargon into concise, impactful, and engaging content. This not only aids readers in comprehending tax-related topics with enlightening clarity but also ensures the delivery of narratives that resonate broadly.

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