Direct Tax
Partial Relaxation with Respect to Electronic Submission of Form 10F by Select Category of Taxpayers
CIRCULAR F.NO. DGIT(S)-ADG(S)- 3/e-FILING NOTIFICATION/ FORMS/2022/9227 dated 12 December 2022
- Earlier, the CBDT had mandated the furnishing of Form 10F electronically via Notification No. 3/2022, dated 16 July 2022.
- However, on consideration of the practical challenge being faced by non-resident (NR) taxpayers not having PAN in making compliance as per the above notification and with a view to mitigating the same, it has been decided that such non-residents who are neither having PAN nor required to have PAN, are exempted from mandatory electronic filing of Form 10F till 31 March 2023.
- The above category of exempted taxpayers may make statutory compliance by filing Form 10F in manual format till 31 March 2023.
Indirect Tax
GST Updates
Pursuant to the GST Council’s 48th meeting, the Central Board of Indirect Taxes and Customs (CBIC) has issued a host of clarificatory Circulars on 27 December 2022
Clarification to deal with the difference in Input Tax Credit (ITC) availed in GSTR-3B as compared to that detailed in GSTR-2A for FY 2017-18 and 2018-19 due to bona fide errors
183/15/2022-GST
Clarification on the entitlement of ITC where the place of supply is determined in terms of the proviso to Section 12(8) of IGST Act, 2017
184/16/2022-GST
Clarification with regard to the applicability of provisions of Section 75(2) of CGST, 2017 and its effect on limitation
185/17/2022-GST
Manner of filing an application for refund by unregistered persons
188/20/2022-GST
The CBIC has notified amendments to the CGST Rules, 2017 pursuant to recommendations of the GST Council. Some of the key changes are as follows:
- The mechanism for reversal of ITC in the event of non-payment of tax by the supplier by a specified date (viz. 30th September following the end of financial year) and the subsequent re-availment of credit upon payment of tax.
- The manner of dealing with difference in liability reported in GSTR-1 vis-à-vis GSTR-3B.
- The facility to withdraw appeal application and the requirement of submission of certified copy of the order appealed against.
- The biometric-based Aadhaar authentication and risk-based physical verification for GST registration purposes in the State of Gujarat.
Notification No. 26/2022-Central Tax and Notification No. 27/2022-Central Tax both dated 26 December 2022
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