GST Updates for the month of November 2022
Monthly GST updates - Nov 2022
GST Return Due dates
Return | Type | Period | Due Date |
GSTR 1 (Outward Supplies) | Monthly | November-22 | 11th December 2022 |
GSTR 1 (Outward Supplies – IFF) | QRMP | November-22 | 13th December 2022 |
GSTR 3B (Monthly Return) | Monthly | November-22 | 20th December 2022 |
PMT 06 (Quarterly Return – Monthly Payment) | QRMP | November-22 | 25th December 2022 |
GSTR 5 (NRTP) | Monthly | November-22 | 13th December 2022 |
GSTR 6 (ISD) | Monthly | November-22 | 13th December 2022 |
GSTR 7 (TDS) | Monthly | November-22 | 10th December 2022 |
GSTR 8 (TCS) | Monthly | November-22 | 10th December 2022 |
GSTR 9 (Annual Return) | Annual | 2021-22 | 31st December 2022 |
GSTR 9C (Reconciliation Statement) | Annual | 2021-22 | 31st December 2022 |
Summary of latest notifications & Circulars
Central Tax Notifications
GSTR 9 – Annual Return – Amendment to Rule 80
Details to be reported in Part V of GSTR 9 consisting of Tables 10 to 13
Details of additions or amendments to any of the supplies already declared in the returns of the previous financial year but such amendments were furnished in Table 9A, Table 9B and Table 9C of FORM GSTR-1 inline with the NN 18/2022 CT from April, 2022 to October, 2022 filed up to 30th November, 2022.
[Notification No. 22/2022- Central Tax, dated 15.11.2022]
Anti Profiteering Measure
- Competition Commission of India established under the Competition Act, 2002 has been Empowered to discharge the functions of Anti Profiteering measure under Section 171.
[Notification No. 23/2022- Central Tax, dated 23.11.2022]
- The Authority formed under GST for the purpose of Anti Profiteering is Dissolved.
- The Competition Commission of India empowered under the Act shall discharge all the functions as referred to in Rule127 related to Anti Profiteering.
[Notification No. 24/2022- Central Tax, dated 23.11.2022]
Central Tax Circulars
Clarifications on Refund Related issues
- Effective Date of New Refund Formula for Inverted Duty Structure given in NN 14/2022 – CT.
- The New Formula will be Applicable for the Refund Applications (RFD 01) filed on or after 05th July 2022.
- The Old Formula will be Applicable for the Refund Applications (RFD 01) before 05th July 2022.
- The Refund Filing period is irrelevant.
Effective Date for Restriction of Refund under IDS on certain Goods falling under heading 15 & 27 given in NN 09/2022 – CTR
- The Refund under IDS cannot be availed for the said goods falling under heading 15 & 27 in the refund applications filed on or after 18th July 2022.
- Even though the Refund is applied for the previous period on or after 18th July, the refund cannot be availed. i.e., Refund Filing Period is Irrelevant.
[Circular No. 181/13//2022- GST, dated 10.11.2022]
Guidelines for verifying the Transitional Credit in light of the order of the Hon’ble Supreme Court order dated 22.07.2022 & 02.09.2022
- Window is opened by GSTN for Filing Form GST TRAN 1 & 2 for the period 01.10.2022 to 30.11.2022.
- Verification of the Forms Filed in the said Window has to be carried out by the Officer within 90 days after completion of the above window of two months, i.e. within 90 days from 01.12.2022 i.e.upto 28.02.2023.
- In the Process of Verification, Various Checks has to be performed by the Officer along with the Clarifications issued vide circular no. 33/07/2018-GST dated 23.02.2018 regarding disputed credit and blocked credit may be followed during the verification process of the transitional credit.
[Circular No. 182/14//2022- GST, dated 10.11.2022]
Instructions
Manner of processing and sanction of IGST refunds, withheld in terms of clause (c) of sub-rule (4) of rule 96, transmitted to the jurisdictional GST authorities under sub-rule (5A) of rule 96 of the CGST Rules, 2017.
- The risky exporters are to be analysed based on Risk Parameters and to be Excluded from the Identified Exporters List to safeguard the interests of Revenue.
- The IGST Refund under Rule 96(4) for Export of Goods based on transmission of data from ICEGATE has to be dealt in accordance with Rule 89.
- The Officer will be given timelines for the processing of Refund under 96(4).
GST portal updates :
GSTR 1 – The Portal has been updated so to allow the reporting of
- Credit Note related to FY 2021-22
- Amendments related to Invoices, Debit Notes or Credit notes related FY 2021-22
In GSTR 1 for the Month of October 2022, filed till 30th November 2022.
We have reached the end of this post on GST updates for the month of November 22. Please share your thoughts and opinions in the comments section below.
