Manner of calculating interest on delayed GST payment clarified; UPI and IMPS added as permitted payment modes. Amendments revise registration suspension revocation where suspended for non-filing and pending returns are subsequently furnished; add Duty Credit Scrips to valuation Explanation; require a declaration when aggregate turnover exceeds the rule 48 threshold but invoice format under rule 48 sub-rule (4) is not required; establish re-credit procedure where erroneous refunds deposited via FORM GST DRC-03 are to be re-credited to the electronic credit ledger by order in FORM GST PMT-03A; permit UPI and IMPS as payment modes and update payment forms; prescribe rule 88B for calculating interest on delayed tax and define interest on wrongly availed and utilised input tax credit; refine refund documentation for exports including electricity and update annual and monthly return formats and instructions.
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Manner of calculating interest on delayed GST payment clarified; UPI and IMPS added as permitted payment modes.
Amendments revise registration suspension revocation where suspended for non-filing and pending returns are subsequently furnished; add Duty Credit Scrips to valuation Explanation; require a declaration when aggregate turnover exceeds the rule 48 threshold but invoice format under rule 48 sub-rule (4) is not required; establish re-credit procedure where erroneous refunds deposited via FORM GST DRC-03 are to be re-credited to the electronic credit ledger by order in FORM GST PMT-03A; permit UPI and IMPS as payment modes and update payment forms; prescribe rule 88B for calculating interest on delayed tax and define interest on wrongly availed and utilised input tax credit; refine refund documentation for exports including electricity and update annual and monthly return formats and instructions.
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