Amendments in CGST Rules Pursuant to 48th GST Council Meeting

The 48th GST Council Meeting was held on June 14, 2021, and it was chaired by Union Finance Minister Nirmala Sitharaman. During this meeting, several important decisions were taken, and among them was the amendment in the Central Goods and Services Tax (CGST) rules.

The amendments in the CGST rules have been made to implement the decisions taken by the GST Council in its previous meetings. These amendments will have a significant impact on the taxpayers, and they must be aware of these changes to avoid any compliance-related issues.

Key Amendments in the CGST Rules

Here are the key amendments that have been made in the CGST rules:

1. Extension of the time limit for filing an appeal

The time limit for filing an appeal against an order issued by an Adjudicating Authority or Appellate Authority has been extended from three months to six months. This extension will provide more time to taxpayers to file an appeal and present their case.

2. Changes in the manner of issuing a refund

The manner of issuing a refund has been changed, and now a refund will be issued in the following manner:

The amount to be refunded will be first credited to the electronic credit ledger of the applicant.
After the amount has been credited to the electronic credit ledger, the refund will be disbursed in cash through the electronic cash ledger.

This change has been made to simplify the process of refund disbursement and ensure that taxpayers receive their refund in a timely and efficient manner.

3. Changes in the procedure of filing an application for revocation of cancellation of registration

The procedure of filing an application for revocation of cancellation of registration has been changed, and now the applicant will have to file the application in Form GST REG-21 instead of Form GST REG-23.

Additionally, the Applicant will have to provide a self-declaration that they have not carried out any business activities during the period from the date of cancellation of registration to the date of application for revocation of cancellation of registration.

4. Changes in the procedure of filing an application for refund of unutilized input tax credit

The procedure of filing an application for refund of unutilized input tax credit has been changed, and now the applicant will have to file the application in Form GST RFD-01A instead of Form GST RFD-01.

This change has been made to simplify the process of filing an application for refund of unutilized input tax credit and ensure that taxpayers receive their refund in a timely and efficient manner.

5. Changes in the procedure of filing an GST CMP-08 quarterly return

The procedure of filing a GST CMP-08 quarterly return has been changed, and now the taxpayers opting for the Composition Scheme will be required to file the return in Form GST CMP-08 on a quarterly basis instead of a quarterly cumulative basis.

This change has been made to simplify the process of filing a GST CMP-08 quarterly return and ensure that taxpayers are able to file their returns in a timely and efficient manner.

Conclusion

The amendments in the CGST rules have been made with the aim of simplifying the GST compliance process and ensuring that taxpayers are able to file their returns and receive their refunds in a timely and efficient manner.

It is important for taxpayers to be aware of these changes and ensure that they comply with the new rules to avoid any penalties or fines.

During the 48th GST Council Meeting, several amendments were made in the CGST rules to simplify the compliance process and ensure that taxpayers receive their refunds in a timely and efficient manner. These changes have a significant impact on the taxpayers, and they must be aware of these changes to avoid any compliance-related issues.GSTCGST Rulesamendments-in-cgst-rules-pursuant-to-48th-gst-council-meeting