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June 2023

Recent Developments in GST

By G. G. Goyal, Chartered Accountant
C. B. Thakar, Advocate
Reading Time 24 mins
A.  NOTIFICATIONS
 
I. Notification No.10/2023-Central Tax dated 10th May, 2023
 
The above notification seeks to implement e-invoicing for the taxpayers having aggregate turnover exceeding Rs. 5 crore from 1st August, 2023.
 
II. Notification No.5/2023-Central Tax (Rate) dated 9th May, 2023
 
The above notification seeks to amend notification No. 11/2017- Central Tax (Rate) dated 28th June, 2017 so as to extend the last date for exercising of option by GTA to pay GST under forward charge.
 
III.    ADVISORY
 
A) An advisory dated 1th April, 2023 is issued to inform that the E-invoices will be allowed to be uploaded/reported within 7 days from the issuance of system invoice for taxpayers having Aggregate turnover Rs.100 crores and above. This was to apply from 1st May, 2023.
 
By subsequent advisory dated 6th May, 2023, the above decision is deferred for 3 months.
 
IV.    CBIC INFORMATIONS
 
(i) The CBIC, vide its post, dated 11th May, 2023, has informed that the Automated Return Scrutiny Module for GST return in ACES–GST backend application for Centre Tax Officers is rolled out and
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