The 47th GST Council meeting was conducted on the 28th and 29th of June, 2022 at Chandigarh under the Chairmanship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman.
The Council recommended, among other matters, removal of certain exemptions, Change in tax rates and inclusion of certain goods and services into the tax net.
Pursuant to the above, the following notifications have been released.
| Notification No. | Notification Date | Summary of the notification |
|---|---|---|
| No. 10/2022 – Central Tax | 5th July, 2022 | Exemption of registered person whose annual turnover in the financial year 2021-22 is up to two crore rupees from filing annual return for the said financial year. |
| No. 11/2022 – Central Tax | 5th July, 2022 | Amendment to notification number No. 21/2019-Central Tax, dated the 23rd April, 2019 by insertion of the following proviso in the second paragraph, after the fourth proviso: “Provided also that the said persons shall furnish a statement, containing the details of payment of self-assessed tax in FORM GST CMP-08 of the Central Goods and Services Tax Rules, 2017 for the quarter ending 30th June, 2022 till the 31st day of July, 2022.” |
| No. 12/2022 – Central Tax | 5th July, 2022 | Substitution of the date from 30th June 2022 to 28th July 2022 in Notification No. 07/2022 – Central Tax which was seeking to amend principle Notification No. No. 73/2017–Central Tax, dated the 29th December, 2017 seeking to waive off late fee for delay in furnishing Form GSTR-4 for the Financial Year 2021-22. |
| No. 13/2022-Central Tax | 5th July, 2022 | * Extension of the time limit for recovery of tax not paid or short paid or of input tax credit wrongly availed or utilized, in respect of a tax period for the financial year 2017-18, up to the 30th day of September, 2023 under sub-section (10) of section 73 for issuance of order under subsection (9) of section 73 of the said Act. * Exclusion of the period from 1st March 2020 to 28th February 2022 for computation of period of limitation under sub-section (10) of section 73 of the said Act for issuance of order under subsection (9) of section 73 of the said Act, for recovery of erroneous refund. * Exclusion of the period from 1st March 2020 to 28th February 2022 for computation of period of limitation for filing refund application under section 54 or section 55 of the said Act. * The said notification shall be deemed to have come into force with effect from the 1st day of March, 2020. |
| No. 14/2022-Central Tax (i) | 5th July, 2022 | Based on the recommendations of the GST council, the following amendments have been made to the Central Goods and Services Tax Rules, 2017. * These rules may be called the Central Goods and Services Tax (Amendment) Rules, 2022. * Save as otherwise provided in these rules, they shall come into force on 5th July 2022. * Insertion in rule 21A, in sub-rule (4), after the proviso: Where the registration has been suspended under sub-rule (2A) for contravention of the provisions contained in clause (b) or clause (c) of sub-section (2) of section 29 and the registration has not been cancelled by the proper officer, the suspension shall be deemed to be revoked upon furnishing all pending returns. * Insertion in Explanation 1 to Rule 43, after clause (c): “(d) the value of supply of Duty Credit Scrips specified in the notification of the Government of India, Ministry of Finance, Department of Revenue No. 35/2017-Central Tax (Rate), dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number GSR 1284(E), dated the 13thOctober, 2017.”; |
| No. 14/2022-Central Tax (ii) | 5th July, 2022 | * Insertion in Rule 46 after clause (r): A declaration that invoices are not required to be issued in the manner specified under sub-rule (4) of rule 48 in all cases where an invoice is issued by the taxpayer having aggregate turnover in any preceding financial year from 2017-18 onwards more than the aggregate turnover as notified under the said sub-rule (4) of rule 48. * Insertion in Rule 86, after sub-rule (4A): Where a registered person deposits the amount of erroneous refund sanctioned to him along with interest and penalty, wherever applicable, through FORM GST DRC-03, the erroneous refund deposited by the registered person shall be re-credited to the electronic credit ledger by the proper officer by an order made in FORM GST PMT-03A. * Insertion in Rule 87: Insertion of the words in sub-rule (3) Unified Payment Interface (UPI) from any bank, Immediate Payment Services (IMPS) from any bank. Insertion of the words in sub-rule (5) “or Immediate Payment Service”. Insertion after Rule (13): A registered person can transfer any amount of tax, interest, penalty, fee or any other amount available in the electronic cash ledger under the Act to the electronic cash ledger for central tax or integrated tax of a distinct person as specified in sub-section (4) or, as the case may be, sub-section (5) of section 25, in FORM GST PMT-09. Provided that such transfer shall not be allowed if the registered person has any unpaid liability. |
| No. 14/2022-Central Tax (iii) | 5th July, 2022 | * With effect from 1st July 2017, after Rule 88A the following was inserted: 88B – Manner of calculating interest on delayed payment of tax – Where supplies are made during the tax period and declared by the registered person in the said period and the same is furnished after the due date, in accordance with provisions of section 39, except where such return is furnished after commencement of any proceedings under section 73 or section 74 in respect of the said period, the interest shall be calculated on the portion of tax which is paid by debiting the electronic cash ledger, for the period of delay in filing the said return beyond the due date, at such rate as may be notified under sub-section (1) of section 50. In all other cases, where interest is payable in accordance with sub section (1) of section 50, the interest shall be calculated on the amount of tax which remains unpaid from the date the tax was due until when it is paid. In case, where interest is payable on the amount of input tax credit wrongly availed and utilised in accordance with sub-section (3) of section 50, the interest shall be calculated on the amount of input tax credit wrongly availed and utilised, from the date of utilisation of such wrong availment of ITC till the date of reversal or payment. Explanation for the purpose of this sub-rule: Input tax credit wrongly availed shall be construed to have been utilised, when the balance in the electronic credit ledger falls below the amount of input tax credit wrongly availed, and the extent of such utilisation of input tax credit shall be the amount by which the balance in the electronic credit ledger falls below the amount of input tax credit wrongly availed. The date of utilisation of such input tax credit shall be taken to be: The date, on which the return is due to be furnished under section 39 or the actual date of filing of the said return, whichever is earlier. The date of debit in the electronic credit ledger when the balance in the electronic credit ledger falls below the amount of input tax credit wrongly availed, in all other cases. |
| No. 14/2022-Central Tax (iv) | 5th July, 2022 | * In Rule 89: In sub-rule (1), after the fourth proviso: An explanation regarding “specified officer” has been inserted. In sub-rule (2): in clause (b), the words “other than electricity” was inserted after the words “on account of export of goods”. After clause (b), clause (ba) pertaining to energy exported was inserted. Explanation for the purpose of this sub-rule: value of goods exported out of India shall be : (i) the Free on Board (FOB) value declared in the Shipping Bill or Bill of Export form, as the case may be, as per the Shipping Bill and Bill of Export (Forms) Regulations, 2017; or (ii) the value declared in tax invoice or bill of supply, whichever is less. |
| No. 14/2022-Central Tax (v) | 5th July, 2022 | In sub-rule (5), for the words “tax payable on such inverted rated supply of goods and services”, the brackets, words and letters “{tax payable on such inverted rated supply of goods and services x (Net ITC’ ITC availed on inputs and input services)}.”shall be substituted; * Rule 95A shall be deemed to have been omitted with effect from the 1st July, 2019. * With effect from the 1st day of July, 2017, in rule 96: In sub-rule (1), for clause (b), the following clause shall be deemed to have been substituted, namely: “(b) the applicant has furnished a valid return in FORM GSTR-3B” Provided that mismatch if any between the data provided by the exporter in the shipping bill and FORM GSTR – 1, shall be deemed to have been rectified when the mismatch has been rectified. In sub-rule(4), after clause (b), the clause pertaining to the Commissioner in the Board or an officer authorised by the Board on the basis of data and risk is of the opinion that verification of credentials of the exporter, including the availment of ITC by the exporter considered essential before grant of refund, in order to safeguard the interest of revenue, shall be inserted. Sub-rule (5) shall be deemed to have been omitted. After sub-rule (5), the following sub-rules shall be deemed to have been inserted: (5A) Where refund is withheld in accordance with the provisions of clause (a) or clause (c) of sub-rule (4), such claim shall be transmitted to the proper officer of Central tax, State tax or Union territory tax, as the case may be, electronically via FORM GST RFD-01 and the intimation of such transmission shall also be sent to the exporter electronically. The said system generated form shall be deemed to be the application for refund in such cases and shall be deemed to have been filed on the date of such transmission. (5B) Where refund is withheld in accordance with the provisions of clause (b) of sub-rule (4) and the proper officer is of the opinion that goods have been exported in violation of the provisions of the Customs Act, 1962. The claim shall be transmitted via FORM GST RFD-01. |
| No. 14/2022-Central Tax (vi) | 5th July, 2022 | * Changes to FORM GSTR-3B: In paragraph 3.1, in the heading, after the words “liable to reverse charge”, the brackets, words and figures “other than those covered in 3.1.1)” shall be inserted; Insertion after paragraph 3.1 “3.1.1 Details of supplies notified under sub-section (5) of section 9 of the Central Goods and Services Tax Act, 2017 and corresponding provisions in Integrated Goods and Services Tax/Union Territory Goods and Services Tax/State Goods and Services Tax Acts.” In the table, under paragraph 4, in column (1) in item (D), (A) for the heading, the following heading shall be substituted, namely “Other Details” (B) for the entries against sub-item (1), the following entries shall be substituted, namely “ITC reclaimed which was reversed under Table 4(B)(2) in earlier tax period”; (C) for the entries against sub-item (2), the following entries shall be substituted, namely: “Ineligible ITC under section 16(4) and ITC restricted due to PoS provisions”; Under the heading instructions, after paragraph 3, the following are inserted: Supplies on which the ECO is required to pay tax under sub-section (5) of section 9 of the Central Goods and Services Tax Act, 2017 and shall report such supplies in 3.1.1(i) above. A Registered person making supplies through an Electronic Commerce Operator (ECO) shall report such supplies in 3.1.1(ii) above. * Changes to FORM GSTR-9 |
| No. 14/2022-Central Tax (vii) | 5th July, 2022 | Under the instructions: Inclusion of FY 2021-22. * Changes to FORM GSTR-9C Inclusion of 2021-22 Insertion of FORM GST PMT –03A Order for re-credit of the amount to electronic credit ledger. * FORM GST PMT-06 Changes to the modes of payment to include e-payment such as CC/DC and net banking. * FORM GST PMT-07 Changes to include IMPS. * FORM GST PMT-09 Inclusion of the words “[See rule 87(13) and 87(14)]” Inclusion of GSTIN of transferee on the same PAN as Serial No. 4A after Serial No. 4 Under the heading instructions, inclusion of transfer to other tax payers and barring transfer if unpaid tax liability exists made. * FORM-GST-RFD-01 Changes to include FOB Value under column 9A after column 9. * In the said rules, FORM GST RFD-10 Ba shall be deemed to have been omitted with effect from the 1st July, 2019. |