GST Council approves key reforms on refunds, registration for e-commerce sellers, returns, rate rationalisation and system upgrades. The GST Council approved Law Committee clarifications and rule changes on inverted duty refunds (admissible where input and output goods are same and rate differential arises from concessional notifications) and directed amendment of Rule 89(5) to proportionately account for ITC utilisation on inputs and input services. It sanctioned procedural rules for cross-jurisdiction enforcement actions, approved a Circular on fake invoice consequences, authorised re-credit via FORM GST PMT-03A, endorsed Centre notification of Finance Act provisions with new rule insertions, and accepted measures on e commerce registration waivers (PAN based intra state supplies without registration), GSTR 3B reforms, Rule 96 IGST refund handling, suspension thresholds with automatic revocation, system reforms, consent based data sharing, and multiple Fitment and GoM rate rationalisation recommendations.
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GST Council approves key reforms on refunds, registration for e-commerce sellers, returns, rate rationalisation and system upgrades.
The GST Council approved Law Committee clarifications and rule changes on inverted duty refunds (admissible where input and output goods are same and rate differential arises from concessional notifications) and directed amendment of Rule 89(5) to proportionately account for ITC utilisation on inputs and input services. It sanctioned procedural rules for cross-jurisdiction enforcement actions, approved a Circular on fake invoice consequences, authorised re-credit via FORM GST PMT-03A, endorsed Centre notification of Finance Act provisions with new rule insertions, and accepted measures on e commerce registration waivers (PAN based intra state supplies without registration), GSTR 3B reforms, Rule 96 IGST refund handling, suspension thresholds with automatic revocation, system reforms, consent based data sharing, and multiple Fitment and GoM rate rationalisation recommendations.
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