Input tax credit matching and registration compliance tightened under updated GST rules with new recovery and filing controls Registration compliance is tightened by shortening the time for furnishing bank account details, restricting outward supply filings for non-compliance, and providing for suspension where return data shows significant differences or where rule 10A is contravened. A new input tax credit matching mechanism requires electronic intimation in FORM GST DRC-01C where credit in FORM GSTR-3B exceeds FORM GSTR-2B, with payment or explanation due within seven days, and recovery may follow if the amount remains unpaid. The rules also revise revocation, refund, appeal, annual return, compounding, and consent-based information sharing procedures.
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Input tax credit matching and registration compliance tightened under updated GST rules with new recovery and filing controls
Registration compliance is tightened by shortening the time for furnishing bank account details, restricting outward supply filings for non-compliance, and providing for suspension where return data shows significant differences or where rule 10A is contravened. A new input tax credit matching mechanism requires electronic intimation in FORM GST DRC-01C where credit in FORM GSTR-3B exceeds FORM GSTR-2B, with payment or explanation due within seven days, and recovery may follow if the amount remains unpaid. The rules also revise revocation, refund, appeal, annual return, compounding, and consent-based information sharing procedures.
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