Notification No

Key changes

• Notified provisions related to:
  • transfer of unutilised balance lying in electronic cash ledger from one registered person to other registered person under same PAN w.e.f. 5 July 2022
  • interest liability on Input Tax Credit (‘ITC’) wrongly availed and utilised w.e.f. 1 July 2017 (retrospective amendment to substitute the provision provided for interest liability on ITC wrongly availed)

• Registered person whose aggregate Turnover in FY 2021-22 is upto Rs. 2 crore, exempted from filing annual return for the FY 2021-22

• To extend the due date for filing quarterly return in Form GST CMP-08 for the person paying tax under composition scheme for the quarter April 22 to June 22 upto 31 July 2022
• Waiver of late fee for composition dealers for filing of GSTR-4 (i.e., annual statement for the FY 2021-22) upto 28 July 2022

• Time limit to pass order under section 73(10) of the CGST Act for the FY 2017-18 extended upto 30 September 2023
• Period from 01 March 2020 to 28 February 2022 to be excluded from:
  • computation of period of limitation for filing refund application under section 54 or section 55 of the CGST Act
  • computation of period of limitation for passing order under section 73(10) of the CGST Act  for recovery of erroneous refund

• Declaration to be provided in an invoice where turnover exceeds the limit notified for e-invoice, but a person is not required to prepare e-invoice
• Re-credit of ITC in the electronic credit ledger where registered person deposits the amount erroneously refunded along with applicable interest. The re-credit order to be passed in Form PMT-03A
• Amount in the electronic cash ledger can be deposited by Unified Payment Interface (UPI) and  Immediate Payment Services (IMPS) from any bank
• Manner of computation of interest liabilities in the following cases:
  • where return is filed delayed, from the due date to the actual  date of filing of return on the amount which is paid by debiting the electronic cash ledger
  • where ITC has been wrongly availed, from the date when it is utilised upto the date of reversal (ITC wrongly availed shall deemed to be utilised when balance in electronic credit ledger falls below the ITC wrong availed)
  • In other cases i.e., person fails to pay tax, from the date the tax was due upto the date of payment
• No ITC reversal under Rule 43 of the CGST Rules on account of sale of duty credit scrips that are exempt under GST
• Amendment in refund provisions to provide for document requirements in case of refund of unutilized ITC on account of Export of Electricity