https://www.taxtmi.com/notifications?id=137712 Input tax credit is conditional on supplier furnishing outward supply details in FORM GSTR-1 or via the invoice furnishing facility and communication to recipients in FORM GSTR-2B. A new auction based recovery mechanism for penalty on goods or conveyance detained or seized in transit requires inventory and valuation, publication of FORM GST DRC 10 notice, pre bid deposit rules, issuance of FORM GST DRC 11 to successful bidders, transfer of ownership on payment and issuance of FORM GST DRC 12, with expedited procedures for perishable or hazardous goods and a stay of proceedings where specified appeals are filed. Sale proceeds are appropriated first to administrative costs, then recovered amounts or penalties, then other dues, with balances credited to the owner. en-us Thu, 10 Feb 2022 00:00:00 +0530 Mon, 21 Feb 2022 18:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=137712 Input tax credit is conditional on supplier furnishing outward supply details in FORM GSTR-1 or via the invoice furnishing facility and communication to recipients in FORM GSTR-2B. A new auction based recovery mechanism for penalty on goods or conveyance detained or seized in transit requires inventory and valuation, publication of FORM GST DRC 10 notice, pre bid deposit rules, issuance of FORM GST DRC 11 to successful bidders, transfer of ownership on payment and issuance of FORM GST DRC 12, with expedited procedures for perishable or hazardous goods and a stay of proceedings where specified appeals are filed. Sale proceeds are appropriated first to administrative costs, then recovered amounts or penalties, then other dues, with balances credited to the owner. Notifications GST - States Thu, 10 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/notifications?id=137712