October, 2022 – Issue No. I


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Extension of due date for filing of application for refund under section 55 by notified agencies – rescinded w.e.f 01.10.2022.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.

CBDT extends due date of Income Tax Audit Reports for the AY 2022-2023 to 07.10.2022.
RoDTEP and RoSCTL – The validity period of scrips is increased from one year to two years from the date of their generation.
The validity of existing Foreign Trade Policy and Handbook of Procedures 2015-2020 is extended upto 31st March, 2023.The last date for filing of annual returns under Para 5.15 of HBP 2015-20 has been extended till 31.12.2022.Import of 17,000 MTs of Fresh (green) Areca Nut without Minimum Import Price (MIP) condition shall be allowed from Bhutan every year through LCS Jaigaon (INJIGB), subject lo valid Registration Certificate issued by DGFT.


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.

The Indian Tax Advisors