Input-tax credit reconciliation: new procedure mandates electronic intimation and prompt taxpayer response or payment with interest. The amendment formalises electronic compliance mechanisms: bank-account details must be furnished on the common portal within thirty days or before filing outward-supply details; registration may be suspended where return data and Form GSTR-1/Form GSTR-2B analysis show significant anomalies or rule 10A contraventions, with a thirty-day show-cause opportunity and suspension revoked on compliance; and a new rule prescribes system-generated intimations (Form GST DRC-01C) for differences between input-tax credit claimed in Form GSTR-3B and that available in Form GSTR-2B, requiring payment via Form GST DRC-03 with interest or an electronic explanation, failing which amounts become demandable under sections 73/74.
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Input-tax credit reconciliation: new procedure mandates electronic intimation and prompt taxpayer response or payment with interest.
The amendment formalises electronic compliance mechanisms: bank-account details must be furnished on the common portal within thirty days or before filing outward-supply details; registration may be suspended where return data and Form GSTR-1/Form GSTR-2B analysis show significant anomalies or rule 10A contraventions, with a thirty-day show-cause opportunity and suspension revoked on compliance; and a new rule prescribes system-generated intimations (Form GST DRC-01C) for differences between input-tax credit claimed in Form GSTR-3B and that available in Form GSTR-2B, requiring payment via Form GST DRC-03 with interest or an electronic explanation, failing which amounts become demandable under sections 73/74.
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