October, 2022 – Issue No. II


GST Changes to be effective from 01.10.2022:
Only ITC reflected in GSTR 2B can be availed in 3B.Last date for availing ITC for previous FY dated invoices – 30th Nov of next FY.Last date for issuing/reporting Credit Note in GSTR-1 & 3B  is 30th Nov of next FY.Rectification of error or omission in respect of the outward supplies allowed to amended till 30th Nov in GSTR-1.

GSTR 2 and related provisions omitted.

GSTR 2B will reflect particulars of whether ITC is available or not for each transaction.

Balance available in E-Cash Ledger can be transferred to another GSTIN on same PAN.

Procedure of import or export or procurement from or supply to Domestic Tariff Area of aircraft by a Unit in International Financial Services Centre.
DGFT has clarified that in respect of normal rice that “Rice (5% and 25%) is already exempted as it is not broken rice but normal rice with permissible limits of broken rice as per standards. However, it will carry 20% duty as per notification”.

The Indian Tax Advisors