GST News Alert Notifications

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GST News Alert Notifications

✅ N. No. 52/2023-CT dt. 26/10/2023 :-

➡ Rule 28(2) is inserted to provide that “value of supply in case of Corporate Guarantee given to any banking company or financial institution, where supplier & recipient are related, shall be deemed to be 1% of the amount of such guarantee offered, or the actual consideration, whichever is higher.”

➡ Form GST REG-08 , regarding Order of Cancellation of Registration as Tax Deducted at source or Tax Collector at source is substituted

➡ Eligibility Criteria for Enrolment as GST Practitioner is revised and widened

➡ Amendment in Form GST DRC-22 (regarding Provisional attachment of property under section 83), to provide that attachment order shall cease to have effect from date of order of Commissioner or expiry of one year from attachment order.

✳ GSTAT Rule : Goods and Services Tax Appellate Tribunal (Appointment and Conditions of Service of President and Members) Rules, 2023 notified on date 25/10/2023

✳️ N. No. 05/2023- Integrated Tax Dt. 26/10/2023 issued to allow SEZ supplies on payment of IGST

CA Sumit Garg