Introduction of Central Goods and Services Tax (Second Amendment) Rules, 2023:
The Central Government, under section 164 of the CGST Act, introduces amendments to the CGST Rules, 2017, effective upon publication.
Rule 9 Modification:
Rule 9, sub-rule (1) proviso undergoes a change, omitting the requirement of the presence of the concerned person.
Rule 10A Revised:
Rule 10A sees a revamp, specifying a 30-day window for furnishing bank account details post-registration, enhancing data accuracy.
Suspension and Cancellation Provisions (Rule 21A):
Substantial amendments to Rule 21A empower authorities to suspend registrations in case of non-compliance, reinforcing stringent measures.
Physical Verification Guidelines (Rule 25):
Rule 25 introduces provisions for physical verification of business premises, ensuring accuracy in registration processes.
Address Clarity in Invoices (Rule 46):
Rule 46 clarifies the address on record for the recipient, simplifying invoice requirements.
Refund Rules Amendment (Rule 94):
Rule 94 sees renumbering and inclusion of specific periods exempted from the delay calculation.
These amendments aim to foster a more transparent, compliant, and efficient GST ecosystem, reinforcing the government's commitment to robust tax administration.