Notification Updates
Notification 10/2024–Central Tax dated 29 May 2024
The CBIC has issued instructions to all the Principal Chief Commissioners, Chief Commissioners, Principal Commissioners/Commissioners of Central Tax and all the Principal Directors General/Directors General of Central Tax in respect of guidelines to be followed for initiation of recovery proceedings before three months from the date of demand order.
As per the above guidelines, before asking the taxable person to make an early payment, the jurisdictional officer should follow the procedure laid down in these guidelines, along with reasons/justification for such an action. Upon following the procedure, the proper officer shall issue directions to the taxable person to make early payment where the interest of revenue is required to be safeguarded.
Notification 11/2024–Central Tax dated 30 May 2024
The CBIC further amended to Notification no. 02/2017- Central Tax dated 19 June 2017 (post effect of notification no. 10/2024-Central Tax dated 29 May 2024) by substituting/omitting the changes in territorial jurisdiction of Principal Commissioner/ Commissioner of Central Tax of Alwar and Jaipur in the state of Rajasthan.
Instructions/Guidelines
Instruction No. 01/2024-GST dated 30 May 2024
The CBIC has issued an instructions to all the Principal Chief Commissioners, Chief Commissioners, Principal Commissioners/Commissioners of Central Tax and All the Principal Directors General/Directors General of Central Tax in respect of guidelines to be followed for initiation of recovery proceedings before three months from the date of demand order.
As per above guidelines, before asking the taxable person to make early payment, jurisdictional officer should follow the procedure laid down in this guidelines along with reasons/justification for such an action. Upon following the procedure, proper officer shall issue directions to taxable person to make early payment where interest of revenue is required to be safeguarded.
Technical Updates
Important Update: Information from manufacturers of Pan Masala and Tobacco taxpayers
Form GST- SRM- I is now live on the portal
The GSTN (Goods and Services Tax Network) team issued an update on GST Portal on 16 May 2024, stating that the facility of Form GST SRM-I has been made available to file the aforesaid information and Form GST SRM-II will also be made available shortly.
Notification No. 04/2024 – Central Tax dated 5 January 2024, notified forms GST SRM-I and GST SRMII. Form GST SRM-I seeks the details of packing machines being used for filling and packing of packages from the manufacturers of Pan Masala and Tobacco products. Form GST SRM-II seeks details of the monthly statement of inputs used and the final goods produced by the manufacturer of goods specified in the Schedule in the notification.
Important Update: Advisory on launch of E-Way Bill 2 Portal
E-Way Bill 2 Portal Launching on 1 June 2024
GSTN has announced that NIC (National Informatics Centre) will release the E-Way Bill 2 Portal on 1 June 2024.
The new E-way bill portal will ensure high availability and run parallel to the E-Way bill main portal. The E-Way bill 2 portal synchronizes the e-way bill details with the main portal within a few seconds, supports the main portal and can be accessed with the same credentials.
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