The Finance Ministry, vide notification No. 02/2024 – Union territory Tax dated 9th October 2024 has officially notified the Union Territory Goods and Services Tax ( Ladakh ) Rules, 2024, pursuant to sub-section (1) of section 22, read with section 21 of the Union Territory Goods and Services Tax Act, 2017.
The new regulations adapt key provisions from the Central Goods and Services Tax Rules, 2017, covering various aspects such as the scope of supply, composition levy, composite and mixed supply, time and value of supply, input tax credit, registration procedures, tax invoicing, credit and debit notes, and maintenance of accounts and records.
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Additional areas addressed include the filing of returns, payment of tax, tax deduction and collection at source, assessment, refunds, audits, inspections, search and seizure operations, and the liability to pay taxes in certain situations. The rules also touch upon advance rulings, appeals and revisions, presumptions regarding documents, offences and penalties, job work, electronic commerce, settlement of funds, transitional provisions, and other miscellaneous provisions, including the imposition of interest and penalties.
Notably, the new rules include specific modifications to ensure they are tailored for Ladakh. In Rule 1, the terminology is updated to replace references to the Central Goods and Services Tax Rules, 2017, with “the Union Territory Goods and Services Tax (Ladakh) Rules, 2024.”
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Furthermore, Rule 90 has been amended to clarify that deficiencies communicated in FORM GST RFD-03 under the CGST framework will also be considered under the Ladakh rules, ensuring consistency in compliance.
In terms of claims processing, Rule 117 has been revised to require detailed disclosures for applications under section 140 of the Central Goods and Services Tax Act, particularly regarding claims related to the Central Sales Tax Act, 1956. This involves specifying the value of claims made and providing serial numbers and values of relevant declarations and certificates.
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Moreover, Rule 119 now mandates that individuals to whom subsection (14) of section 142 applies must electronically submit a declaration in FORM GST TRAN-1 within ninety days of the appointed day. This declaration should detail the stock of inputs, semi-finished goods, or finished goods held on that day.
To provide clarity and proper interpretation, the rules include an explanatory note stating that all references to section 140 of the Central Goods and Services Tax Act, 2017, will now refer to section 18 of the Union Territory Goods and Services Tax Act, 2017.
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