The Goods and Services Tax Network ( GSTN ) has issued an advisory on the introduction of two new forms for manufacturers of pan masala and tobacco products under the Goods and Services Tax Act. This notification follows the issuance of Central Tax Notification No. 04/2024 dated January 5, 2024.
What are the new forms?
GST SRM-I: This form deals with the registration and disposal of packing machines used in the manufacturing process. Manufacturers must use this form to provide details about their existing machines and any future disposals.
GST SRM-II ( Coming Soon ): This form will focus on monthly input and output information for these manufacturers.
The GST portal already offers a facility to register machines through Form GST SRM-I. Manufacturers can access this feature and file the required information. The GSTN expects to make Form GST SRM-II available on the portal shortly. Businesses will be able to file their monthly production data electronically through this form.
Any person intending to manufacture goods as mentioned in the Schedule to this notification, and who has been granted registration after the issuance of this notification, shall furnish the details of packing machines being used for filling and packing of packages in FORM GST SRM-I on the common portal, within fifteen days of grant of such registration.
The details of any additional filling and packing machine being installed at the registered place of business shall be furnished, electronically on the common portal, by the said registered person within twenty four hours of such installation in PART (B) of Table 6 of FORM GST SRM-I.
The notification and subsequent forms aim to strengthen monitoring and compliance norms within the pan masala and tobacco industry. These products are often subject to specifically tailored higher “sin” tax regulations.
Manufacturers of pan masala and tobacco products must ensure they are aware of these new regulations. Filing the information in Form GST SRM-I is now mandatory, and familiarizing themselves with the upcoming Form GST SRM-II is also important for seamless compliance.
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