GST amendments: Latest Changes

GST amendments

The Goods and Services Tax (GST) system in India is like a set of rules that keeps changing to make taxes fair and easy for both people who pay taxes and the government. Imagine it as a puzzle where the pieces can move to fit better. In a recent 48th GST Council meeting has brought in important GST amendments to the GST system. These changes aim to make it simpler for people and businesses to follow the rules, help the government get back money that’s owed to them, and make sure that the numbers for taxes match up correctly. Let’s take a closer look at these ideas:

1. Sharing Bank Details (Rule 10A): One big GST amendments is to ask people who are registered to pay GST to share their bank details within a month of joining or before they give a report about what they’ve sold (called the GSTR-1/IFF report). It’s like sharing your contact details, so the government knows where to find you.

2. Automated Registration Suspension (Rule 21A(2A)): Other GST amendments within Rule 21A(2A), ushering in an automated registration suspension mechanism for entities that neglect to provide valid bank account details as required by Rule 10A within the stipulated timeframe.

3. Spontaneous Revocation (Rule 21A(4)): To alleviate the burden of compliance, an additional GST amendments is appended to Rule 21A(4), enabling the automatic reversal of registration suspension as triggered by the system. This reversion comes into play once the stipulated provisions of Rule 10A are adhered to.

4. Fixing Money Problems (Rule 88C and GST DRC-01D): In order to address disparities in output tax liabilities, another GST amendments is the introduction of Rule 88C and FORM GST DRC-01D is paramount. These frameworks are designed to facilitate the recovery of outstanding taxes and interest for the amounts indicated under Rule 88C. These amounts, which remain unpaid and lack satisfactory clarifications from the registered entity, can thus be pursued through these mechanisms.

5. Scrutiny of Input Tax Credit (Circular No. 183/15/2022-GST): The issuance of Circular No. 183/15/2022-GST signifies the establishment of a procedural approach for scrutinizing input tax credit discrepancies. This methodology comes into play when differences arise between the Input Tax Credit claimed in FORM GSTR-3B and the corresponding values available in FORM GSTR-2A for the fiscal years 2017-18 and 2018-19. A similar methodology is recommended for discrepancies arising between April 1, 2019, and December 31, 2021. This initiative extends significant relief to taxpayers.

6. More Checks and Balances (Rule 88D and FORM DRC-01C): Proposed GST amendments to the CGST Rules, 2017 involve the introduction of Rule 88D and FORM DRC-01C. These innovations propose a systematic approach to notifying taxpayers about instances of excessive Input Tax Credit availed in FORM GSTR-3B as opposed to the figures found in FORM GSTR-2B, surpassing a designated threshold. The process incorporates an automated compliance mechanism, allowing taxpayers to elucidate the underlying reasons for the variance or to undertake corrective measures.

In conclusion
All these amendments, the GST Council is suggesting want to make sure that everyone is following the rules, tax money is paid right, and problems are fixed quickly. This way, it becomes easier for everyone to do what they’re supposed to do, and the country’s tax system becomes better and more open.

If You have any queries then connect with us at [email protected] or [email protected] & Contact us  & stay updated with our latest blogs & articles

Don't forget to share this article :-

Stay Updated With Our Blogs!

Explore more of our blogs to have better clarity and understanding
of the latest corporate & business updates.

Why People Choose Our Services ?

Free Legal Advice

We provide free of cost consultation and legal advice to our clients.

Tech Driven Platform

All our services are online no need you to travel from your place to get our services.

Grow your business

Experts Team

We are a team of more than 15+ professionals with 11 years of experience.

Transparent pricing

There are no hidden & extra charges* other than the quote/invoice we provide.

100 % Client Satisfaction

We aim that all our customers are fully satisfied with our services.

On-Time Delivery

We value your time and we promise all our services are delivered on time.

Why Trust legal Suvidha?

People Who loved our services and what they feel.

In this Journey of the past 10+ years, we had gained the trust of many startups, businesses, and professionals in India and stand with a 4.9/5 rating in google reviews.We register business online and save time & paperwork.

Reno K Subramaniam
Reno K Subramaniam
I have recently registered a Private Limited firm and was looking for a CA to take care of the filings, Startup India Certificate, and other formalities. I have received emails from legal Suvidha and a few others. I tried talking to them all. But, Mr. Mayank from Legal Suvidha was very impressive and was patient enough, prompt to answer all the queries. He has a very professional team and after the initial formalities, I started interacting with the team. It's not even 2 weeks but I really feel overwhelmed by their service and professionalism. I received my startup India certificate yesterday and my filings have been done promptly. The team at legal suvidha Ms. Nidhi, Ms. Priyanka, Ms. Koshika, and Ms. Saloni all show the same professionalism and are readily available to take care of the official filings and stuff. Overall a great experience till now and looking forward to a great journey!
pankaj tiwari
pankaj tiwari
Legal suvidha is a team of genuine and experienced professionals who give you best services according to your profile
Raman Krishnan
Raman Krishnan
Saloni from legalsuvidha has done a excellent job for filling and geting certificate of DPIIT. Thanks to legalsuvidha.
Prakaash Hari
Prakaash Hari
Team Legal Suvidha offers a brilliant service. There communication is quite clear and they execute the job meticulously. We are a startup private limited company and their advice is so critical in making my decision. Well done team. Keep it up. Prakaash Hari, Director, ipixela.
Priyanka Rudra
Priyanka Rudra
Dedicated team and fast response
Dr. Vishal Ghag
Dr. Vishal Ghag
Been using their services since 3 years now and I am absolutely happy with Legal Suvidha. They have been supportive, understanding and highly skilled at helping me with my business needs.

Our Partnerships & Collaborations

Contact us and grow your business

Legal Suvidha App

Now all Professional Services in a Single Click !

Now get all the services required for your business in a single app.

Subscribe to our newsletter & grow your business

Subscribe To Our Newsletter .

Sign up to receive email updates on new product announcements, special promotions, sales & more.