https://www.taxtmi.com/article/detailed?id=8163 Amendment Acts to central, integrated and union territory GST laws introduce transitional provisions for registration gaps, settlement of integrated tax between Centre and States, and input tax credit utilisation; the Compensation to States amendment permits distribution of unutilised compensation fund balances during a financial year on Council recommendation and prescribes sharing of recovery of shortfalls between Centre and States. Form GSTR-9 has been notified requiring detailed annual reconciliation and audit support; targeted filing extensions, waivers, and ITC filing relaxations have been provided. Refund processing may rely on FORM GSTR-2A in lieu of supplier invoices, and reversals of wrongly availed pre-GST or transitional credits may be effected via FORM GSTR-3B entries with applicable interest and penalty. en-us Mon, 17 Sep 2018 10:29:44 +0530 Mon, 17 Sep 2018 10:29:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8163 Amendment Acts to central, integrated and union territory GST laws introduce transitional provisions for registration gaps, settlement of integrated tax between Centre and States, and input tax credit utilisation; the Compensation to States amendment permits distribution of unutilised compensation fund balances during a financial year on Council recommendation and prescribes sharing of recovery of shortfalls between Centre and States. Form GSTR-9 has been notified requiring detailed annual reconciliation and audit support; targeted filing extensions, waivers, and ITC filing relaxations have been provided. Refund processing may rely on FORM GSTR-2A in lieu of supplier invoices, and reversals of wrongly availed pre-GST or transitional credits may be effected via FORM GSTR-3B entries with applicable interest and penalty. Articles Goods and Services Tax - GST Mon, 17 Sep 2018 10:29:44 +0530 https://www.taxtmi.com/article/detailed?id=8163