Registration suspension criteria revised - persistent non-filing triggers suspension and input tax credit reversal and reporting changes. The rules add suspension grounds for registered persons who fail to furnish periodic returns, require reversal and payment of input tax credit with interest where recipients do not remit value and tax to suppliers within the prescribed time, permit re availment of credit upon subsequent payment to the supplier, remove references to FORM GSTR-2, and consolidate reporting and reversal of balance ITC in FORM GSTR-3B while omitting several rules and forms.
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Registration suspension criteria revised - persistent non-filing triggers suspension and input tax credit reversal and reporting changes.
The rules add suspension grounds for registered persons who fail to furnish periodic returns, require reversal and payment of input tax credit with interest where recipients do not remit value and tax to suppliers within the prescribed time, permit re availment of credit upon subsequent payment to the supplier, remove references to FORM GSTR-2, and consolidate reporting and reversal of balance ITC in FORM GSTR-3B while omitting several rules and forms.
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