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December 2024

Recent Developments in GST

By G. G. Goyal, Chartered Accountant | C. B. Thakar, Advocate
Reading Time 18 mins

A. CIRCULARS

Following circulars have been issued by CBIC, in October 2024.

i) Clarifications regarding scope of “implementation of provisions of sub-sections (5) & (6) in section 16” - Circular no.237/31/2024-GST dated 15th October, 2024.

By above circular, clarifications are given regarding implementation of provisions of sub-section (5) and sub-section (6) in Section 16 of CGST Act. The above provisions are for extension of time for the purposes of Section 16(4).

ii) Clarifications regarding “doubts related to section 128A” — Circular no.238/32/2024-GST dated 15th October, 2024.

By above circular, clarifications are given regarding doubts related to section 128A of CGST Act. Section 128A provides for conditional waiver of interest and penalty in respect of demands pertaining to financial years 2017–18, 2018–19 and 2019–20.

B. ADVISORY

  1.  Vide GSTN Advisory dated 22nd October, 2024, the information is given about updated facilities for registration compliance for buyers of metal scrap through form GST-REG-07.
  2.  Vide GST
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