1) Notification No. 18/2021-Central Tax (Rate) dated 28.12.2021 is issued to amend the Notification No. 1/2017-Central Tax (Rate) dated 28.06.2017 which provides the GST rate on supply of goods. Read more
2) Notification No. 19/2021-Central Tax (Rate) dated 28.12.2021 is issued to amend the Notification No. 2/2017-Central Tax (Rate) dated 28.06.2017 which provides for GST exemption on supply of goods. Read more
3) Notification No. 20/2021-Central Tax (Rate) dated 28.12.2021 is issued to amend the Notification No. 21/2018-Central Tax (Rate) dated 26.07.2018. Read more
4) Notification No.40/2021-Central Tax dated 29.12.2021 is issued to amend the Central Goods and Services Tax Rules, 2017.
It substitutes Rule 36(4) to provide that Input Tax Credit can be claimed when supplies has uploaded the invoice in GSTR-1 and IFF and also the invoice is populated into GSTR-2B.
It and amends Rule 80 to provide extension of due date to file GST Annual Return in GSTR-9 and 9C to 28.02.2022. Read more
5) Circular No. 168/24/2021-GST dated 30.12.2021 is issued to provide the mechanism for filing of refund claim by the taxpayers registered in erstwhile Union Territory of Daman & Diu for period prior to merger with U.T. of Dadra & Nagar Haveli. Read more
6) News and Updates dated 22.12.2021 : Mandatory Aadhaar authentication for registered person –
The Central Government vide Notification No. 38/2021-CT dated 21.12.2021 has notified January 1, 2022 as the implementation date for Rule 10B of CGST Rules, 2017.
In the said rule, it is mandatory for the registered person to undergo Aadhaar authentication for the below purposes,
- Filing of application for revocation of cancellation of registration in FORM GST REG-21 under Rule 23 of CGST Rules, 2017
- Filing of refund application in FORM RFD-01 under Rule 89 of CGST Rules, 2017
- Refund of the IGST paid on goods exported out of India under Rule 96 of CGST Rules, 2017. Read more
7) Consumer Welfare Fund made available to Board under Rule 97(7A) of the CGST Rules, 2017 (Management & Administration)
Consumer Welfare Fund (CWF) has been constituted under Section 57 of the Central Goods & Service Tax (CGST) Act, 2017. The provision for utilization of CWF has been made in Section 58 of the CGST Act, 2017 which provides that the fund shall be utilized by the Government for the welfare of the consumers in such manner as may be prescribed. Accordingly, the provisions governing the manner of utilization of the Fund has been prescribed in Rule 97 of the CGST Rules, 2017. Sub-rule (7A) of rule 97 provides that the Committee, constituted under sub-rule (4), shall make available to the Central Board of Indirect Taxes & Customs (Board) 50 per cent. of the amount credited to the Fund each year, for publicity or consumer awareness on Goods and Services Tax, provided the availability of funds for consumer welfare activities of the Department of Consumer Affairs is not less than twenty-five crore rupees per annum. Read more
8) Press Release dated 29.12.2021 : Year End Review – 2021 for Department for Promotion of Industry & Internal Trade, Ministry of Commerce and Industry. Several high frequency indicators like E-way bills, rail freight, port traffic, GST collections and power consumption demonstrated a V-shaped recovery. Read more
Share this content: