CBIC issued Notifications to implement recommendations of 47th GST Council meeting
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- Last Updated on 7 July, 2022
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Notification No. 10/2022 – Central Tax to Notification No. 14/2022 – Central Tax dated July 5th, 2022
The CBIC has issued several notifications giving effect to recommendations of 47th GST Council meeting. The key changes notified are as follows:
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- Exemption from filing Annual Return to the registered persons whose aggregate turnover in the financial year 2021-22 is up to two crore rupees
- The due date for filing of FORM GST CMP-08 by Composition Dealers for the quarter ending 30th June, 2022 is extended till 31st July, 2022
- The late fees for filing GSTR-4 for FY 2021-22 has been waived till 28th July, 2022
- Time period from 1st March, 2022 to 28th February 2022 to be excluded from calculation of the limitation period for filing refund claim
- No requirement of reversal of input tax credit for exempted supply of Duty Credit Scrips by the exporters
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