• Notification no. 09/2022-GST dated 5 July 2022 wherein it has notified the provisions of clause (c) of section 110 and section 111 of the Finance Act, 2022. Below amendment is being notified:

1. Retrospective amendment in section 50(3) of CGST Act, with effect from 01 July 2017, to provide that interest will be payable on the wrongly availed ITC only when the same is utilized;
2. Provision for transfer of balance from electronic cash ledger between distinct persons (within different GSTINs of same entity)

• Notification no. 10/2022-GST dated 5 July 2022 wherein it has exempted taxpayers having Aggregate Turnover upto Rs. 2 crores from the requirement of furnishing annual return for FY 2021-22.
• Notification no. 11/2022-GST dated 5 July 2022 wherein it has extended the due date of furnishing FORM GST CMP-08 for the quarter ending June, 2022 till 31.07.2022.
• Notification no. 12/2022-GST dated 5 July 2022 wherein it has extended the waiver of late fee for delay in filing FORM GSTR-4 for FY 2021-22.

• Notification no. 13/2022-GST dated 5 July 2022:

1. Extends the time limit specified under section 73(10) for issuance of order under section 73(9) of the CGST Act, 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
2. Excludes the period from the 1st day of March, 2020 to 28th day of February, 2022 for computation of period of limitation under sub-section (10) of section 73 of the said Act for issuance of order under section 73(9) of the said Act, for recovery of erroneous refund
3. Excludes the period from the 1st day of March, 2020 to the 28th day of February, 2022 for computation of period of limitation of 2 years for filing refund applications.

This notification shall be deemed to have come into force with effect from the 1st day of March, 2020.
 

• Notification no. 14/2022-GST dated 5 July 2022, amending Central Goods and Services Tax (Amendment) Rules, 2022 as under:

1. Where registration has been suspended  for contravention of the provisions contained in clause (b) or clause (c) of Section 29(2) (non-furnishing of returns), the suspension of registration shall be deemed to be revoked upon furnishing of all the pending returns
2. For the purpose of ITC reversal under Rule 42/43, there will be no requirement of reversal on account of supply of Duty Credit Scrips which is exempt under GST.
3. In rule 46 – Tax Invoice, a new clause ‘s’ has been inserted, which requires following declaration to be made in the Invoice in all cases where an E-invoice has not been issued by the taxpayer having aggregate turnover in any preceding FY from 2017-18 onwards more than the twenty crore rupees.

“I/We hereby declare that though our aggregate turnover in any preceding financial year from 2017-18 onwards is more than the aggregate turnover notified under sub-rule (4) of rule 48, we are not required to prepare an invoice in terms of the provisions of the said sub-rule”

• Where a registered person deposits the amount of erroneous refund sanctioned to him, through FORM GST DRC-03, by debiting the electronic cash ledger, an amount equivalent to the amount of 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.
• UPI & IMPS added under Rule 87(3) as an additional mode for payment of GST.
• A registered person may transfer balance from electronic cash ledger between distinct persons by filing Form GST PMT 09
• A new Rule 88B - Manner of calculating interest on delayed payment of tax shall be deemed to have been inserted with effect from the 1st July, 2017

Interest in case of Delayed Filing of return

• 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.

Interest in case of input tax credit wrongly availed and utilised

• Interest shall be calculated on the amount of input tax credit wrongly availed and utilised, for the period starting from the date of utilisation of such wrongly availed input tax credit till the date of reversal of such credit or payment of tax.
• Change in formula for calculation of refund under rule 89(5) to take into account utilization of ITC on account of inputs and input services for payment of output tax on inverted rated supplies in the same ratio in which ITC has been availed on inputs and input services during the said tax period.
• 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;
• This would help to increase the refund amount for those taxpayers who are availing ITC on input services also.

Amendments in the matter where claim for refund shall be withheld, a new clause (c) has been inserted as below:

• (c) where the Commissioner in the Board or an officer authorised by the Board, on the basis of data analysis and risk parameters, is of the opinion that verification of credentials of the exporter, including the availment of ITC by the exporter, is considered essential before grant of refund, in order to safeguard the interest of revenue.
• In such cases, the refund claim shall be transmitted to the proper officer electronically through the common portal in a system generated FORM GST RFD-01 and the intimation of such transmission shall also be sent to the exporter. Further, 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.

Amendments relating to Form GSTR-3B

• A new paragraph 3.1.1 has been inserted in GSTR-3B to separately show Taxable supplies on which electronic commerce operator pays tax under sub-section 9(5).
• In the table 4B of GSTR-3B, the following entries shall be substituted, namely: - “As per rules 38, 42 and 43 of CGST Rules and section 17(5)”
• In the table 4D “Other Details” - the following entries shall be substituted, namely: 

“ITC reclaimed which was reversed under Table 4(B)(2) in earlier tax period”.

“Ineligible ITC under section 16(4) and ITC restricted due to PoS provisions”

Amendments relating to Form GSTR-9

• Various optional Reporting of various tables in Form GSTR-9/9C has now been extended for FY 21-22 as well.
• It will be now mandatory to report Outward HSN Summary in the GSTR-9
• Reporting of Inward HSN Summary is still optional.