GSTN OPENS TRAN-1 PORTAL.
Every registered person who wants to revise / who is eligible to take credit of eligible duties and taxes paid under existing laws in respect of input or input services or capital goods in his/her Electronic Credit Ledger, needs to file a declaration in Form GST TRAN-1 /TRAN-2 within the specified period i.e. 01.10.2022 to 30.11.2022.Notification issued for coming into effect of the amendments of various sections of Central Goods and Service Tax made in the “The Finance Act, 2022 (No.6 of 2022)” which shall come into force from 1.10.22.
Appeal pre-deposit can be made with electronic credit ledger – Bombay High Court.
Extension of due date for filing of application for refund under section 55 by notified agencies – rescinded w.e.f 01.10.2022.
Default by buyer to pay consideration – corresponding ITC to be reversed with interest under Section 50 within 180 days of issuance of invoice. Once default is rectified – ITC can be availed.
Provisions related to matching of ITC, final acceptance of ITC omitted in CGST Rules.
Guidelines for filing of TRAN-1/TRAN-2 issued under TNGST.
Commercial Taxes Department issues circular laying down procedure for assessment/adjudication as per principles of Natural Justice.
Time extended for filing e-form DIR-3-KYC and web-form DIR-3-KYC-WEB without fee upto 15.10.2022.