Pursuant to the recommendations of the GST Council in its 47th meeting held on 28-29 June, CBIC issued a series of circulars in response to requests for clarifications from industry on various issues:
The above Circulars issued on August 03, 2022, can be accessed here.
CBIC has notified that e-invoicing under GST will now be applicable to taxpayers having aggregate turnover exceeding INR10 crore in any preceding financial year from 2017-18 onwards. The Notification No.17/2022 – Central Tax dated August 01, 2022 can be accessed here.
In response to a question posed in Rajya Sabha, the Minister of State for Finance Mr. Pankaj Chaudhary clarified that the ruling of the Supreme Court of India in Union of India & Anr. v M/s Mohit Minerals Pvt. Ltd. (which held that recommendations of the GST Council are non-binding on States) does not alter the constitutional mechanism of the GST Council. He stated that the State and Central Acts provide that rates, exemptions and rules etc. would be prescribed only on the recommendations of the council, and therefore are binding on the States and the Centre.
The documented response against Unstarred Question No. 203 on July 19, 2022 can be accessed here.
CBIC issued a series of notifications giving effect to the GST rate related decisions taken in the 47th Meeting of the GST council held last month. The relevant notifications No. 03/2022 to 11/2022-Central Tax (Rate) dated July 13, 2022 can be accessed here. A summary of these rate changes, effective July 18, 2022, is also available on the Tax Forum website.
In view of the recommendations of the 47th GST Council Meeting, a GoM was constituted to address necessary changes to provisions governing GST Appellate Tribunals. The GoM consists of Ministers from Haryana, Uttar Pradesh, Goa, Rajasthan, Andhra Pradesh, and Odisha. The Office Memorandum dated July 06, 2022 can be accessed here.