2020 Instructions / Guidelines - Online ITR eFiling Financial Year 21-22, 22-23 & 23-24 (AY 22-23, 23-24 & 24-25), GST Registration and Private Limited Registration

Instruction No. 2/1/2020 – GST: Implementation of Decision to Expedite Pending Refund Claims – reg.

Kind attention is drawn to the Press Note dated 08th April 2020 of Department of Revenue, Ministry of Finance with regards to refunds. It has been inter-alai decided that all pending GST refunds including IGST refunds shall be expeditiously processed.

InstructionNo.3/2/2020 – GST: Payment of GST by real estate promoter/developer supplying construction of residential apartment etc., on the shortfall value of inward supplies from registered supplier at the end of the financial year–reg.

A revised GST rate has been prescribed, w.e.f. the 1stApril, 2019 on the supply of service by way of construction of residential apartment. Under this, construction of affordable residential apartments attracts GST at the rate of 1% [without ITC]and other residential apartments attract GST at the rate of 5% [without ITC].

Admin instructions for recovery of interest on net cash tax liability w.e.f. 01.07.2017 -reg.

Based on the recommendations of the 35″ meeting of the GST Council held on 21st June 2019, the provision of section 50 was amended vide section 100 of the Finance (No. 2) Act, 2019 to provide for charging interest on the net cash tax liability.