Important Keywords: Notification No. 03/2024 – Central Tax: Seeks to rescind Notification No. 30/2023-CT dated 31st July 2023, F. No. CBIC-20001/7/2023-GST, Section148 CGST Act 2017, Notification No. 30/2023-CT, Notification No. 03/2024- Central Tax,
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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB- SECTION (ii)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
New Delhi, dated the 5th January, 2024
Notification No. 03/2024 – Central Tax: Seeks to rescind Notification No. 30/2023-CT dated 31st July 2023
S.O (E).– In exercise of the powers conferred by section148 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act),the Central Government, on the recommendations of the Council, hereby rescinds the notification of the Government of India in the Ministry of Finance, Department of Revenue, number 30/2023-CT, dated the 31st July, 2023 published vide number S.O. 3424(E), dated the 31st July, 2023, except as respects things done or omitted to be done before such rescission.
2. This notification shall come into force from 1st day of January 2024.
[F. No. CBIC-20001/7/2023-GST]
(Raghavendra Pal Singh)
Director
Frequently Asked Questions (FAQs)
Q1: What is Notification No. 03/2024 – Central Tax?
Answer:
Notification No. 03/2024 – Central Tax was issued to rescind Notification No. 30/2023-CT, dated 31st July 2023. This means that the provisions introduced under the previous notification are no longer valid.
🔹 It is crucial for businesses and taxpayers to review and adjust their GST compliance strategy.
🔹 If you were following any guidelines set by Notification No. 30/2023-CT, you must check if further action is required.
For expert guidance, consult a GST specialist like Finodha.in.
Q2: Why was Notification No. 30/2023-CT rescinded by Notification No. 03/2024 – Central Tax?
Answer:
Notification No. 30/2023-CT might have been rescinded due to:
✔️ Changes in government policy or procedural issues.
✔️ Industry feedback that required adjustments.
✔️ Legal or compliance concerns raised post-implementation.
By rescinding this notification, the government ensures that taxpayers have more clarity and streamlined GST compliance.
Q3: Who is affected by Notification No. 03/2024 – Central Tax?
Answer:
Any taxpayer who was following the provisions of Notification No. 30/2023-CT should review their GST filings.
📌 Key affected groups may include:
🔹 Businesses registered under GST.
🔹 Taxpayers who complied with Notification No. 30/2023-CT.
🔹 Accountants and tax professionals handling GST compliance.
If you’re unsure about how this change affects you, consult an expert at Finodha.in.
Q4: What steps should businesses take after Notification No. 03/2024 – Central Tax?
Answer:
To ensure compliance after Notification No. 03/2024 – Central Tax:
✔️ Check if your business was impacted by Notification No. 30/2023-CT.
✔️ Adjust GST returns and filings accordingly.
✔️ Stay updated with future GST notifications on CBIC & GST portals.
For a hassle-free GST compliance strategy, visit Finodha.in for expert assistance.
Q5: Does this notification change GST tax rates or exemptions?
Answer:
🚨 No, it does not change GST tax rates or exemptions.
🔹 Notification No. 03/2024 – Central Tax only nullifies Notification No. 30/2023-CT.
🔹 Tax rates, ITC rules, and exemptions remain unchanged unless specified in another notification.
Always verify tax-related updates on official government sources or seek help from GST experts like Finodha.in.
Q6: Where can I download the official Notification No. 03/2024 – Central Tax?
Answer:
You can access the official notification on:
📌 CBIC Website: www.cbic.gov.in
📌 GST Portal: www.gst.gov.in
For simplified explanations and compliance support, visit Finodha.in.
Q7: Does Notification No. 03/2024 – Central Tax require taxpayers to amend past GST filings?
Answer:
🔹 It depends on whether your business took action based on Notification No. 30/2023-CT.
🔹 If you filed GST returns or availed benefits under the previous notification, consult a tax professional to confirm if amendments are needed.
For detailed compliance support, reach out to Finodha.in.
Q8: Will businesses face penalties if they follow Notification No. 30/2023-CT?
Answer:
🚨 No penalties will be imposed for the following Notification No. 30/2023-CT.
📌 However, businesses should:
✔️ Check for any compliance adjustments required.
✔️ Ensure future GST filings align with the rescission.
✔️ Consult a GST expert to avoid any unintentional errors.
For professional GST advice, visit Finodha.in.
Q9: How does this notification impact future GST compliance?
Answer:
🔹 Businesses must ensure they are following the latest GST regulations.
🔹 Government policy changes may affect future compliance requirements.
🔹 Stay informed about upcoming GST notifications by regularly checking CBIC updates.
💡 Need expert guidance? Finodha.in is here to help!
Q10: How can businesses stay updated on GST notifications?
Answer:
To stay updated with GST changes:
📌 Regularly check:
✔️ CBIC Notifications (www.cbic.gov.in)
✔️ GST Portal (www.gst.gov.in)
✔️ Tax expert blogs like Finodha.in
🚀 For personalized GST support, connect with Finodha.in today!
Download PDF: Notification No. 03/2024 – Central Tax
More Information: https://taxinformation.cbic.gov.in/
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