The Central Board of Indirect Taxes and Customs ( CBIC ) has notified Central Goods and Services Tax (Sixth Amendment) Rules, 2019.
On October 9, 2019, vide Notification No. 49/2019-Central Tax, the amendment rules have provided that total unmatched credit cannot exceed 20% of ITC available in GSTR 2A, prescribed Form GST DRC-01A for intimation of tax ascertained by proper officer as payable in fraud and non-fraud cases and other changes made in the CGST Rules, 2017.
The Notification issued by the CBIC reads as, “Input tax credit to be availed by a registered person in respect of invoices or debit notes, the details of which have not been uploaded by the suppliers under sub-section (1) of section 37, shall not exceed 20 per cent. of the eligible credit available in respect of invoices or debit notes the details of which have been uploaded by the suppliers under sub-section (1) of section 37”.
The Notification also reads as, “Where the time limit for furnishing of details in FORM GSTR-1 under section 37 or in FORM GSTR-2 under section 38 has been extended, the return specified in sub-section (1) of section 39 shall, in such manner and subject to such conditions as the Commissioner may, by notification, specify, be furnished in FORM GSTR-3B electronically through the common portal, either directly or through a Facilitation Centre notified by the Commissioner”.
“In the said rules, in rule 83A, in sub-rule (6), for clause (i), the following clause shall be substituted, namely:- “(i) Every person referred to in clause (b) of sub-rule (1) of rule 83 and who is enrolled as a goods and services tax practitioner under sub-rule (2) of the said rule is required to pass the examination within the period as specified in the second proviso of sub-rule (3) of the said rule.”.
The Committee shall make available to the Board 50 per cent. of the amount credited to the Fund each year, for publicity or consumer awareness on Goods and Services Tax, provided the availability of funds for consumer welfare activities of the Department of Consumer Affairs is not less than twenty-five crore rupees per annum, the Notification said.
The proper officer shall, before service of notice to the person chargeable with tax, interest and penalty, under sub-section (1) of Section 73 or sub-section (1) of Section 74, as the case may be, shall communicate the details of any tax, interest and penalty as ascertained by the said officer, in Part A of FORM GST DRC-01A, the notification also added.
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