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July 2024

Recent Developments in GST

By G. G. Goyal, Chartered Accountant | C. B. Thakar, Advocate
Reading Time 19 mins

A. GSTN INFORMATION 

i) The Government has issued information dated 16th May, 2024, whereby the availability of a facility to register machines for Pan Masala and Tobacco is informed (GST SRM-1). Further, information in the above respect is given vide information dated 7th June, 2024, for making available the facility of Form GST SRM-2 for reporting the details of inputs and outputs procured and consumed for the relevant month.

ii) The CBIC has issued Instruction No.1/2024-GST dated 30th May, 2024 whereby guidelines for initiation of recovery proceedings (in exceptional cases), before three months from the date of service of demand order, are given.

iii) Vide Press Release dated 6th May, 2024 the appointment of Justice (Retired) Sanjay Kumar Mishra as the first president of GST Appellate Tribunal is informed.

iv) Advisory dated 28th May, 2024 is issued to inform about the launch of the E-way Bill 2 portal.

B. ADVANCE RULINGS

14  TDS liability on PSU

M/s. Ramagundam Fertilizers and

Chemicals Ltd. (AR Order No.A.R.Com/17/2023 dt. 2nd January, 2024 (Telangana)

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