Income Tax 1 November 2026
CBIC Clarifies Pre-Deposit Rules Under CGST
CBIC issued a clarification on how pre‑deposit amounts are calculated under Sections 107 and 112 of the CGST Act, outlining the method for determining taxable value and the timeline for refunds. The guidance also addresses documentation requirements for taxpayers to ensure compliance and avoid delays.
Key Points
- The CBIC clarified the pre‑deposit calculation method for Sections 107 and 112 of the CGST Act.
- Taxable value is now determined based on the *actual transaction amount* minus any eligible discounts before the pre‑deposit is applied.
- Refunds must be processed within the stipulated timeline, and taxpayers must retain proper documentation to support the calculations.
For the full notice, see the CBIC clarification article.
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