Key Highlights Of GST Notification And Clarification Circulars In July 2024

Application for GST registration

A second proviso is inserted, requiring a photograph of the applicant (or relevant individuals) to be taken for applicants not opting for Aadhaar authentication. Furthermore, the application will be deemed complete only after successful verification of the original documents uploaded with FORM GST REG-01 at designated Facilitation Center

GST Registration liable to be cancelled

A new clause is inserted to provide for cancellation of GST registration upon violation of the third or fourth proviso to Rule 23(1),i.e., failure to furnish all returns due for the period from the effective date of the order of cancellation of registration till the date of the order of revocation of cancellation of registration within the specified time limi

Procedure for distribution of Input Tax Credit (ITC) by Input Service Distributor (ISD)

The conditions for the manner of distribution of ITC by ISDs have been amended.

Introduction of new form GSTR-1A

• The additional facility to add any particulars of the current tax period missed out in reporting in form GSTR-1 or amend any particulars of the current tax period already declared in form GSTR-1.
• It is an optional form without a levy of late fees.
• The form will be available on the portal after the due date of filing of FORM GSTR -1 or the actual date of filing of FORM GSTR -1, whichever is later, till the filing of corresponding form GSTR-3B of the same tax period.
• Supplies declared or amended in form GSTR-1A shall be made available in the subsequent period GSTR-2B. E.g: If the GSTR-1A is filed on 15 June 2024 for the tax period May 2024, then reporting of GSTR-1A will be reflected in GSTR-2B, which will be available on 14 July 2024.

Team GSTN (Goods and Services Tax Network) has also issued an advisory in this regard. The same can be checked here.

Invoice-wise details if inter-state supply to unregistered persons of invoice value more than one lakh

• For inter-state supply of invoice value of more than INR 1,00,000* to an unregistered person, invoice-wise details are required to be reported while filing GSTR-1**.
• If the Invoice value is less than INR 1,00,000, consolidated state-wise reporting for each tax rate is required.

*Earlier the limit was INR 2,50,000.

**Effective from 1 August 2024.

No interest on late filing of returns on the amount which were credited to the electronic cash ledger on or before the due date

If the GST returns are filed after the due date but the amount has been credited to the Electronic Cash Ledger on or before the due date for filing the return and subsequently debited from the ledger for tax payment upon filing the return, the interest calculation shall exclude this amount if it remains in the ledger from the due date until its debit at the time of filing the return.

Refund of IGST paid on an upward revision of price in case of export

• Where additional integrated tax has been paid due to a subsequent upward revision in the price of goods after export, and the refund of IGST paid at the time of export has already been sanctioned, the refund for the additional IGST paid can be claimed by submitting an application in Form GST RFD-01 before the expiration of two years from the relevant date, pursuant to clause (a) of Explanation (2) of Section 54.
• If the relevant date precedes the effective date of this notification/sub-rule, the application may be submitted within two years from the date this sub-rule takes effect.
• Additionally, the details to be furnished when applying for a refund on account of upward revision in price of such goods subsequent to exports are also outlined.

Team GSTN has also issued an advisory in this regard. The same may be referred here.

Option of manual appeal/application to the Appellate Tribunal

An appeal/application to the Appellate Tribunal may be filed manually in FORM GST APL - 05/FORM GST APL-07 and the memorandum of cross-objections may be filed manually in FORM GST APL-06, only if the Registrar allows the same by issuing a special or general order to that effect, subject to such conditions and restrictions as specified in the said order, and in such case, a provisional acknowledgment shall be issued to the appellant immediately.