Central Board of Indirect taxes & Customs issues guidelines for recovery of unpaid self-assessed tax under GST

January 7, 2022

In a recent instruction CBIC has issued guidelines for initiating recovery proceedings in case of non-payment or short -payment of self-assessed tax. Section 75(12) of Central Goods and Services Tax Act, 2017 (CGST Act) provides for recovery of unpaid self-assessed tax. Vide Finance Act, 2021, an Explanation has been inserted, effective from 1 January 2022, clarifying that “self-assessed tax” includes tax payable in respect of outward supplies as furnished in GSTR-1, but not paid in GSTR-3B. CBIC issued guidelines to address the doubts raised by trade and field formations regarding the modalities of initiation of recovery proceedings in such cases. Please refer to the instructions here.

USISPF Home Tax Forum Members