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July 2022

RECENT DEVELOPMENTS IN GST

By G.G. Goyal | Chartered Accountant
C.B. Thakar | Advocate
Reading Time 12 mins
I. NOTIFICATIONS

1.    Waiver of Late fees for the F.Y. 2021-2022 for the delay in furnishing form GSTR-4-Notification No. 07/2022 – Central Tax dated 26th May, 2022:

The Govt. of India has issued the above notification whereby late fees payable for delay in furnishing of form GSTR-4 for the F.Y. 2021-2022 is waived for the period from 1st May, 2022 till 30th June, 2022.

2.    Waiver of interest for specified Electronic Commerce operators - Notification No. 08/2022 – Central Tax dated 7th June, 2022:

The Govt. of India has issued the above notification whereby specified E-Commerce operators are exempted from interest for the specified months for specified period.

3.    Instruction No. 01/2022-23 (GST-Investigation), dated 25th May, 2022 – Deposit of tax during search, inspection or investigation

The CBIC has issued the above instruction in which the manner and method of depositing tax during search/inspection is clarified. Inter alia it is clarified that if any complaint received from tax payer it should be enquired earliest and disciplinary action may be taken wherever necessary.     

II. ADVANCE RULINGS

13 M/s. Adani Green Energy Ltd [Order No. GUJ/GAAR/R/2022/26 dated 11th May, 2022]

Intermediary

The facts, in this case, are that M/s Adani Green Energy Ltd (AGEL) wanted to ra
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