GST registration and credit compliance reforms introduce biometric verification, supplier-default credit reversal, and portal-based liability reconciliation procedures. The amendments introduce biometric Aadhaar authentication, photograph capture and original-document verification for risk-identified registration applicants, with possible physical verification of business premises. They require input tax credit reversal where suppliers do not furnish corresponding returns by the prescribed cut-off, while allowing re-availment after subsequent compliance. A new portal-based reconciliation process addresses differences between outward-supply liability and GSTR-3B liability through FORM GST DRC-01B, requiring payment with interest or an explanation within seven days; unresolved amounts are recoverable and may restrict subsequent outward-supply reporting.
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GST registration and credit compliance reforms introduce biometric verification, supplier-default credit reversal, and portal-based liability reconciliation procedures.
The amendments introduce biometric Aadhaar authentication, photograph capture and original-document verification for risk-identified registration applicants, with possible physical verification of business premises. They require input tax credit reversal where suppliers do not furnish corresponding returns by the prescribed cut-off, while allowing re-availment after subsequent compliance. A new portal-based reconciliation process addresses differences between outward-supply liability and GSTR-3B liability through FORM GST DRC-01B, requiring payment with interest or an explanation within seven days; unresolved amounts are recoverable and may restrict subsequent outward-supply reporting.
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