https://www.taxtmi.com/highlights?id=60358 Validity of Circular issued by the CBIC - Jurisdiction - imposition on rectification of Form GSTR­-3B in respect of the period in which the error had occurred - A priori, despite such an express mechanism provided by Section 39(9) read with Rule 61, it was not open to the High Court to proceed on the assumption that the only remedy that can enable the assessee to enjoy the benefit of the seamless utilization of the input tax credit is by way of rectification of its return submitted in Form GSTR­-3B for the relevant period in which the error had occurred - the assessee cannot be permitted to unilaterally carry out rectification of his returns submitted electronically in Form GSTR­-3B, which inevitably would affect the obligations and liabilities of other stakeholders, because of the cascading effect in their electronic records. - Validity of circular upheld - SC en-us Tue, 02 Nov 2021 17:30:22 +0530 Tue, 02 Nov 2021 17:31:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=60358 Validity of Circular issued by the CBIC - Jurisdiction - imposition on rectification of Form GSTR­-3B in respect of the period in which the error had occurred - A priori, despite such an express mechanism provided by Section 39(9) read with Rule 61, it was not open to the High Court to proceed on the assumption that the only remedy that can enable the assessee to enjoy the benefit of the seamless utilization of the input tax credit is by way of rectification of its return submitted in Form GSTR­-3B for the relevant period in which the error had occurred - the assessee cannot be permitted to unilaterally carry out rectification of his returns submitted electronically in Form GSTR­-3B, which inevitably would affect the obligations and liabilities of other stakeholders, because of the cascading effect in their electronic records. - Validity of circular upheld - SC Highlights GST Tue, 02 Nov 2021 17:30:22 +0530 https://www.taxtmi.com/highlights?id=60358