Important Keyword: corrigendum notification 03/2019 UTGST, ITC reversal form DRC-03, real estate GST correction, builder GST compliance, UTGST corrigendum 2019, GST DRC-03 real estate,
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Table of Contents
[F.No.354/32/2019-TRU]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
New Delhi, the 25th April, 2019
Corrigendum to Notification No. 03/2019 - Union Territory Tax (Rate)
[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY]
G.S.R. (E).- In the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No.3/2019- Union Territory Tax (Rate), dated the 29th March, 2019, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 262 (E), dated the 29th March, 2019, -
- at page 165,
- in line 8, in column (5) of the table, for “tax” read “Union territory tax”; and in line 11, in column (5) of the table, for “eighteen” read “nine”.
- at page 181, in line 9, for “18” read “ 18(9 + 9)”.
(Ruchi Bisht)
Under Secretary to the
Government of India
📚 Frequently Asked Questions (FAQs): Notification No. 03/2019 - Union Territory Tax (Rate)
Q1: What is the corrigendum to Notification No. 03/2019 - Union Territory Tax (Rate)?
Answer:
It corrects the form used for ITC reversal, replacing FORM GST ITC-03 with FORM GST DRC-03.
Q2: When was this corrigendum issued?
Answer:
On 30 August 2019.
Q3: What is the main correction made?
Answer:
The ITC reversal form was changed from ITC-03 to DRC-03.
Q4: Why was this correction needed?
Answer:
Because ITC-03 was not the correct form for this type of ITC reversal.
Q5: Who is affected by this corrigendum?
Answer:
Promoters and builders who:
Switched to the new GST scheme
Needed to reverse ITC
Q6: What is FORM GST DRC-03?
Answer:
A form used to:
Pay voluntary tax
Reverse ITC
Settle liabilities
Q7: Can I still use FORM ITC-03?
Answer:
No. For this case, you must use FORM DRC-03.
Q8: What happens if I used the wrong form earlier?
Answer:
You may need:
Correction entries
Proper reconciliation
Additional filings
Q9: Is ITC reversal mandatory when switching schemes?
Answer:
Yes, if you move from ITC-based scheme to no-ITC scheme.
Q10: Do promoters still need GST registration?
Answer:
Yes. GST registration is mandatory.
👉 Register here:
https://finodha.in/online-gst-registration/
Q11: Do builders need to file GST returns regularly?
Answer:
Yes. Returns like:
GSTR-1
GSTR-3B
must be filed.
👉 https://finodha.in/gst-return-filing/
Q12: Does this affect homebuyers?
Answer:
Indirectly. It ensures correct tax compliance by promoters.
Q13: Is this corrigendum still relevant?
Answer:
Yes. It is important for:
Project audits
GST assessments
Compliance reviews
Q14: What records should be maintained?
Answer:
ITC balances
DRC-03 challans
GST returns
Project records
Q15: How can Finodha help with real estate GST?
Answer:
Finodha provides:
✔ GST Registration
✔ Real estate GST compliance
✔ Return filing
✔ Company setup
✔ ROC compliance
👉 https://finodha.in/gst-compliance/
👉 https://finodha.in/private-limited-company/
Download PDF: Notification No. 03/2019 - Union Territory Tax (Rate)
More Information: https://taxinformation.cbic.gov.in/
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