December, 2022 – Issue No. III


1) 48th GST Council – Important decisions.

  1. No GST is payable where the residential dwelling is rented to a registered person if it is rented in his/her personal capacity for use as his/her own residence and on his own account and not on account of his business.
  2. To raise the minimum threshold of tax amount for launching prosecution under GST from Rs.One Crore to Rs.Two Crores, except for the offence of issuance of  invoices without supply of goods or services or both.

2) Due date for filing Form GSTR-1 for November 2022 is 13.12.2022 for the registered persons whose principal place is in the districts of Chennai, Tiruvallur, Chengalpattu, Kancheepuram, Tiruvannamalai, Ranipet, Vellore, Villupuram, Cuddalore, Tiruvarur, Nagappattinam, Mayiladuthurai and Thanjavur.


Nonresident taxpayers who are not having PAN and not required to have PAN as per relevant provisions of the Income-tax Act, 1961 read with Income-tax Rules, 1962, are exempted from mandatory electronic filing of Form 10F till 31st March 2023. Such category of taxpayers may make statutory compliance of filing Form 10F till 31st March 2023 in manual form.

Foreign Trade Policy (2015-20) extended upto 31-03-2023.India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) will come into force on 29.12.2022. Indian exports such as labour-intensive sectors such as gems and jewellery, textiles, leather, footwear, furniture, food, and agricultural products, engineering products, medical devices, and automobiles, will be benefited. India has provided preferential access to Australia on the imports of raw materials and intermediaries such as coal, mineral ores etc., which are required for our domestic manufacturing industry.  Moreover, Australia has also provided additional market access and mobility facility for Indian professionals including chefs and yoga teachers.

The Indian Tax Advisors