CBIC notifies CGST (Fifth Amendment) Rules, 2022: Notification
- News|Blog|GST & Customs|
- 2 Min Read
- By Taxmann
- |
- Last Updated on 28 December, 2022
Latest from Taxmann
Notification No. 62/2022 –Central Tax dated December 26th, 2022
The GST Council in its 48th meeting has made several recommendations relating to changes in GST and now, the CBIC has issued Central Goods and Services Tax (Fifth Amendment) Rules, 2022 to notify changes recommended by the GST Council. In this regard, notification has been issued. The key changes are:
1. Form GSTR-1 has been amended to change the manner of reporting details relating to supplies made through the e-commerce operator (‘ECO’)
2. Procedure is prescribed for filing application of refund by the unregistered buyers where the contract/ agreement for supply of services, like construction of flat/house and long-term insurance policy, is cancelled.
3. Rule 37A is inserted under the CGST Rules to provide for the mechanism and time limit of reversal of ITC by the recipient where tax is not paid by the supplier to the Government
4. New Rule 88C and Form GST DRC-01B in the CGST Rules for issuing intimation to the taxpayer for the differences between liability reported in Form GSTR-1 and in Form GSTR-3B, where such difference exceeds a specified amount and/ or percentage
5. Rule 37(1) of the CGST Rules is amended w.e.f. 01-10-2022 to provide for the reversal of input tax credit only proportionate to the amount not paid to the supplier vis-a-vis the value of the supply, including tax payable
6. Rule 108 and Rule 109 of the CGST Rules are amended to provide clarity on the requirement of submission of the certified copy of the order appealed against and the issuance of final acknowledgement by the appellate authority
7. New Rule 109C and new Form GST APL-01/03W to provide the facility for withdrawal of an application of appeal up to a certain specified stage
Click Here To Read The Full Notification
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
