Overview of GST Council 48th Meeting’s RecommendationsCA. Satyadev Purohit

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The Tax Publishers GST--GST Council Meeting Overview of GST Council 48th Meeting's Recommendations CA. Satyadev Purohit The learned author aims at making overview of important recommendations of the GST Council made in its 48th Meeting held on 17th December, 2022, through Video Conferencing. 1. Introduction In its 48th Meeting held on 17-12-2022, the GST Council has made various taxpayers' friendly proposals, one of the important proposals is to introduce procedure for verification of input tax credit in cases involving difference in input tax credit availed in Form GSTR-3B vis-a-vis that available as per Form GSTR-2A during the financial years 2017-18 and 2018-19. Some procedural relaxations are also proposed to be made as a part of government's initiative of ease of doing business. The important recommendations and their implications are being discussed hereunder. 2. Taxpayers' friendly proposals The taxpayers' friendly proposals made in the 48th Council Meeting are as under: (i) Procedure for verification of ITC difference as per GSTR-2A and GSTR-3B During the initial period of implementation of the GST, there was no specific provisions under the GST Act as well as rules made thereunder to restrict the input tax credit only to the extent reported by the supplier in their GSTR-1 and those communicated to the recipient of the supply in his auto-populated Form GSTR-2A. The taxpayers had been claiming input tax credit on the basis of invoices issued by the supplier even if details of the same was not reported by the supplier in Form GSTR-1 and consequently it is not reflected in Form GSTR-2A of the recipient. Due to this, difference in the ITC claimed as per GSTR-3B and those reflected in GSTR-2A has been reported by the GSTN Portal. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

GST--GST Council Meeting

Overview of GST Council 48th Meeting's Recommendations

CA. Satyadev Purohit

The learned author aims at making overview of important recommendations of the GST Council made in its 48th Meeting held on 17th December, 2022, through Video Conferencing.

1. Introduction

In its 48th Meeting held on 17-12-2022, the GST Council has made various taxpayers' friendly proposals, one of the important proposals is to introduce procedure for verification of input tax credit in cases involving difference in input tax credit availed in Form GSTR-3B vis-a-vis that available as per Form GSTR-2A during the financial years 2017-18 and 2018-19. Some procedural relaxations are also proposed to be made as a part of government's initiative of ease of doing business.

The important recommendations and their implications are being discussed hereunder.

2. Taxpayers' friendly proposals

The taxpayers' friendly proposals made in the 48th Council Meeting are as under:

(i) Procedure for verification of ITC difference as per GSTR-2A and GSTR-3B

During the initial period of implementation of the GST, there was no specific provisions under the GST Act as well as rules made thereunder to restrict the input tax credit only to the extent reported by the supplier in their GSTR-1 and those communicated to the recipient of the supply in his auto-populated Form GSTR-2A.

The taxpayers had been claiming input tax credit on the basis of invoices issued by the supplier even if details of the same was not reported by the supplier in Form GSTR-1 and consequently it is not reflected in Form GSTR-2A of the recipient. Due to this, difference in the ITC claimed as per GSTR-3B and those reflected in GSTR-2A has been reported by the GSTN Portal.