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INTERMEDIATE COURSE
SUPPLEMENTARY STUDY PAPER - 2022
PAPER 4B: INDIRECT TAXES
[A discussion on amendments made by the

Finance Act, 2021 and Finance Act, 2022 and
other important Notifications/ Circulars
between 1st May, 2021 and 30th April, 2022]
(Relevant for students appearing in May, 2023 and

November, 2023 examinations)
BOARD OF STUDIES
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
© The Institute of Chartered Accountants of India

This Supplementary Study Paper has been prepared by the Faculty of the Board of
Studies of the Institute of Chartered Accountants of India with a view to assist the
students in their education. While due care has been taken in preparing this
Supplementary Study Paper, if any errors or omissions are noticed, the same may
be brought to the attention of the Director of Studies. The Council of the Institute
is not responsible in any way for the correctness or otherwise of the amendments
published herein.
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
All rights reserved. No part of this publication may be reproduced, stored in a retrieval
system, or transmitted, in any form, or by any means, electronic, mechanical,
photocopying, recording, or otherwise, without prior permission, in writing, from the
publisher.
Website : www.icai.org
Department/Committee : Board of Studies
E-mail : bosnoida@icai.in
Price :
ISBN No. :
Published by : The Publication & CDS Directorate on behalf of The

Institute of Chartered Accountants of India, ICAI
Bhawan, Post Box No. 7100, Indraprastha Marg, New
Delhi- 110002, India
Printed by :
ii

BEFORE WE BEGIN …
Taxation is one of the core competence areas of chartered accountants. The subject
of “Taxation” at the Intermediate level is divided into two sections, namely, Section
A: Income-tax law and Section B: Indirect Taxes. Indirect Taxes, at the Intermediate
level, cover goods and services tax (GST), the path breaking indirect tax introduced
in India from July 1, 2017.
The nitty-gritties of GST law coupled with its inherent dynamism, makes the
learning, understanding and application of the provisions of this law in problem
solving very interesting and challenging. GST, at the Intermediate level, involves
understanding and application of the select provisions of the GST laws. For
attaining this, the students not only have to be thorough with the basic provisions
of the relevant law, but also need to constantly update their knowledge pertaining
to statutory developments.
The subject matter of August 2021 Edition of the Study Material of Intermediate
Paper 4B: Indirect Taxes is based on the provisions of the CGST Act, 2017 and the
IGST Act, 2017 as amended upto 30.04.2021. The amendments made vide the
Finance Act, 2021 and the Finance Act, 2022, and significant notifications and
circulars issued between 01.05.2021 and 30.04.2022 in GST laws have been
compiled in this Supplementary Study Paper.
These amendments are very important to the students for updating their
knowledge pertaining to the latest statutory developments. This Supplementary
Study Paper is relevant for students appearing in May, 2023 and November,
2023 examinations.
The Finance Act, 2022 came into force from 30.03.2022 after receiving the assent
of the President of India. However, only the amendments made in sections 49 and
50 of the CGST Act, 2017 vide the Finance Act, 2022 became effective till the date
of printing of the Supplementary Study Paper. Remaining amendments made in
the GST laws vide the Finance Act, 2022 have not yet become effective. Such
amendments have been incorporated at the end of each relevant chapter in the
form of comparison of the existing provisions 1 with the provisions as amended by
Provisions existing as on the date when the Supplementary Study Paper was released for printing.
1
iii

the Finance Act, 2022. Therefore, the applicability or otherwise of such
amendments made by the Finance Act, 2022 for May 2023 and/or November 2023
examinations shall be announced by the ICAI only after the same become effective.
Once the announcement for applicability of such amendments for examination(s)
is made by the ICAI, students should read the amended provisions in place of the
related provisions discussed in the Study Material.
For the ease of reference, the amendments have been grouped into Chapters which
correspond with the Chapters of the Study Material.
For the sake of brevity, Central Goods and Services Tax, Integrated Goods and Services
Tax, Central Goods and Services Tax Act, 2017, Integrated Goods and Services Tax
Act, 2017, Central Goods and Services Tax Rules, 2017 and Integrated Goods and
Services Tax Rules, 2017 have been referred to as CGST, IGST, CGST Act, IGST Act,
CGST Rules and IGST Rules respectively.
Unless otherwise specified, the section numbers and rules referred to in the chapters
pertain to CGST Act and CGST Rules respectively.
The amendments made by way of notifications/circulars issued after 30th April, 2022
and which are relevant for May, 2023 and November, 2023 examinations will be
given in the Statutory Updates for May, 2023 and November, 2023 examinations,
respectively.
Happy Reading and Best Wishes for the forthcoming examinations!
iv

2
SUPPLY UNDER GST
1. Activities/ transactions between a person, other than an individual, and

its members/constituents for consideration included in scope of supply
[Section 7 and Schedule II to the CGST Act]
Following amendments have been made by the Finance Act, 2021:
(i) Earlier, supply of goods by any unincorporated association or body of
persons to a member thereof for cash, deferred payment or other
valuable consideration, was treated as supply of goods. [Para 7 of
Schedule II to the CGST Act]. The said para has been omitted from
Schedule II retrospectively with effect from 01.07.2017.
(ii) A new clause (aa) has been inserted in sub-section (1) of section 7
retrospectively with effect from 01.07.2017. This includes the
following activities/ transactions within the scope of supply:
Activities or transactions, by a person, other than an individual, to its
members or constituents or vice-versa, for cash, deferred payment or
other valuable consideration.
The intent of the above amendment is to put an end to the ambiguity whether
activities/transactions involving supply of goods/services, by any person,
other than an individual, to its members or vice-versa fall within the purview
of supply or not. The amendment brings in the certainty that said
activities/transactions are covered within the scope of supply under GST and
ensures the levy of GST on such activities/transactions.

Further, an explanation has also been inserted to section 7(1)(aa), to clarify
that for the purpose of this clause, the person and its members/ constituents
shall be deemed to be two separate persons and the supply of activities/
transactions inter se shall be deemed to take place from one person to
another. The clarification provides for a non-obstante clause as it shall have
an overriding effect over anything contained in any other law for the time
being in force or any judgment, decree or order of any Court, tribunal or
authority. This explanation prevents the use of doctrine of mutuality by such
person(s) to avoid GST liability 2.
2
The above amendment, in effect, overrules the judgment of the Hon’ble Supreme Court in
State of West Bengal v. Calcutta Club Limited wherein it was held that the transactions
between a Club and its members cannot be taxed owing to the doctrine of mutuality, i.e., a
person cannot make a profit from himself.

3
CHARGE OF GST
1. Manufacturers of fly ash bricks/blocks, building bricks, bricks of fossil

meals, earthen/roofing tiles, etc. also ineligible to opt for composition
levy
As per section 10(2)(e) read with Notification No. 14/2019 CT dated
07.03.2019, manufacturers of following goods cannot opt for composition
scheme under section 10(1) and 10(2):
Tariff item, sub-heading, Description

heading or Chapter
2105 00 00 Ice cream and other edible ice, whether or

not containing cocoa
2106 90 20 Pan Masala
24 All goods i.e. Tobacco and manufactured

tobacco substitutes
2202 1010 Aerated water
With effect from 01.04.2022, Notification No. 14/2019 CT dated 07.03.2019

has been amended to include following items in the above list:
3

Tariff item, sub-heading, Description of goods
heading or Chapter
6815 Fly ash bricks or fly ash aggregate

with 90% or more fly ash content; Fly
ash blocks
6901 00 10 Bricks of fossil meals or similar siliceous earths
6904 10 00 Building bricks
6905 10 00 Earthen or roofing tiles
Thus, manufacturers of the above-mentioned goods have become ineligible

to opt for composition levy under section 10(1) and 10(2).
[Notification No. 04/2022 CT dated 31.03.2022]

4
EXEMPTIONS
FROM GST
1. Amendments in the services exempted from GST

Notification no. 12/2017 CT(R) dated 28.06.2017 provides list of services
exempted from CGST. Parallel exemptions from IGST have been granted to
inter-State supply of services vide Notification No. 9/2017 IT(R) dated
28.06.2017.
The amendments in the list of exempted services have been highlighted in
bold/in strikethrough form, hereunder:
(i) Amendment in the existing exemptions
Following existing exemptions have been amended:
Sl. Description of services Effective

No. 3 from
3 Pure services (excluding works contract service or 01.01.2022

other composite supplies involving supply of any
goods) provided to the Central Government, State
Government or Union territory or local authority or a
Governmental authority or a Government Entity
3 EntryNos. mentioned herein correspond to entries in Notification No. 12/2017 CT (R) dated
28.06.2017. However, these entry numbers have been given only for reference purposes and
are not relevant for examination purpose.

by way of any activity in relation to any function
entrusted to a Panchayat under article 243G of the
Constitution or in relation to any function
entrusted to a Municipality under article 243W of
the Constitution.
3A Composite supply of goods and services in which 01.01.2022

the value of supply of goods constitutes not more
than 25% of the value of the said composite supply
provided to the Central Government, State
Government or Union territory or local authority or
a Governmental authority or a Government
Entity by way of any activity in relation to any
function entrusted to a Panchayat under article
243G of the Constitution or in relation to any
function entrusted to a Municipality under article
243W of the Constitution.
15 Transport of passengers, with or without 01.01.2022

accompanied belongings, by –
(a) air, embarking from or terminating in an airport
located in the state of Arunachal Pradesh, Assam,
Manipur, Meghalaya, Mizoram, Nagaland, Sikkim,
or Tripura or at Bagdogra located in West Bengal;
(b) non-air conditioned contract carriage other
than radio taxi, for transportation of passengers,
excluding tourism, conducted tour, charter or hire;
or
(c) stage carriage other than air-conditioned stage
carriage
However, nothing contained in items (b) and (c)
above shall apply to services supplied through
an electronic commerce operator (ECO), and
notified under section 9(5) of the CGST, 2017.

Services notified under section 9(5) are the services by
way of transportation of passengers by a radio-taxi,
motorcab, maxicab, motor cycle, omnibus or any other
motor vehicle, supplied through ECO. In such a case, the
tax on supplies of such services shall be paid by the ECO.
In other words, in case where services of transport

of passengers, by non-air conditioned contract
carriage other than radio taxi excluding tourism,
conducted tour, charter or hire or by non-air
conditioned stage carriage, are supplied through
ECO, such services are not exempt from GST.
Further, tax on such services shall be paid by ECO.
17 Service of transportation of passengers, with or 01.01.2022

without accompanied belongings, by—
(a) railways in a class other than— (i) first class; or
(ii) an air-conditioned coach;
(b) metro, monorail or tramway;
(c) inland waterways;
(d) public transport, other than predominantly for
tourism purpose, in a vessel between places
located in India; and
(e) metered cabs or auto rickshaws (including e-
rickshaws)
However, nothing contained in item (e) above
shall apply to services supplied through an
electronic commerce operator (ECO), and
notified under section 9(5) of the CGST, 2017.
Services notified under section 9(5) are the services by
way of transportation of passengers by a radio-taxi,
motorcab, maxicab, motor cycle, omnibus or any other
motor vehicle, supplied through ECO. In such a case, the
tax on supplies of such services shall be paid by the ECO.

In other words, in
case where service of
transport of
passengers by
metered cabs or auto rickshaws
(including e-rickshaws) are
supplied through ECO, such
services are not exempt from GST.
Further, tax on such services shall
be paid by ECO.
72 Services provided to the Central Government, State 01.10.2021

Government, Union territory administration under
any training programme for which 75% or more of
the total expenditure is borne by the Central
Government, State Government, Union territory
administration.
(ii) New exemption introduced

Following new services have been exempted from GST:

No. 4 from
61A Services by way of 01.10.2021

granting National Permit
to a goods carriage to
operate through-out
India/ contiguous States.
4
Entry Nos. mentioned herein correspond to entries in Notification No. 12/2017 CT (R) dated

(iii) Withdrawal of existing exemption
Exemption from GST available to following services has been withdrawn:

No. 5 from
43 Services of leasing of assets (rolling stock assets 01.10.2021

including wagons, coaches, locos) by the Indian
Railways Finance Corporation to Indian Railways.
Parallel amendments in exemptions from IGST to inter-State supply of

services have been carried out by amending Notification No. 9/2017 IT(R)
dated 28.06.2017.
[Notification No. 07/2021 CT(R) dated 30.09.2021, Notification No.
16/2021 CT(R) dated 18.11.2021, Notification No. 16/2021 IT(R) dated
18.11.2021 and Notification No. 07/2021 IT(R) dated 30.09.2021]
5
Entry Nos. mentioned herein correspond to entries in Notification No. 12/2017 CT (R) dated

6
INPUT TAX CREDIT
1. ITC can be availed by the recipients only if the suppliers have uploaded
the relevant invoices/debit notes in their GSTR-1/ IFF and such details
have been communicated to the recipients in GSTR 2B [Section 16(2) and
rule 36(4) amended]
With effect from 01.01.2022, a new clause (aa) has been added to section
16(2) by the Finance Act, 2021 to stipulate a new condition for availment of
ITC. It provides that input tax credit in respect of any supply of goods or
services or both is available to a registered person only if the details of the
invoice/debit note in respect of said supply has been furnished by the
supplier in the statement of outward supplies (GSTR-1) and such details
have been communicated to the recipient of such invoice/debit note in
the manner specified under section 37.
Consequently, rule 36(4) has been substituted to give effect to aforesaid
amendment. Substituted rule 36(4) reads as follows:
No input tax credit shall be availed by a registered person in respect of
invoices or debit notes the details of which are required to be furnished under
section 37(1) unless,-
(a) the details of such invoices or debit notes have been furnished by the
supplier in the statement of outward supplies in Form GSTR-1 or using
the invoice furnishing facility (IFF); and
10

(b) the details of such invoices or debit notes have been communicated to
the registered person in Form GSTR-2B under rule 60(7).
Thus, ITC can now be taken only for those invoices/debit notes whose details
are reflected in Form GSTR-2B i.e only when the respective suppliers (vendors)
have filed the details of such invoices in their Form GSTR-1. Earlier, ITC, in
respect of invoices/debit notes not uploaded by the suppliers in their Form
GSTR-1s/IFF, could be availed upto 5% of the eligible credit available in
respect of invoices/debit notes the details of which had been furnished by
the suppliers in their Form GSTR-1s/ using IFF.
AMENDMENTS MADE VIDE THE FINANCE ACT, 2022

In the table given below, the existing provisions 6 of section 16(2) and 16(4) of the
CGST Act are compared with the provisions as amended by the Finance Act, 2022.
It is important to note that the below mentioned amendments have not been
effective till the time when the Supplementary Study Paper was released for
printing.
Section Existing provisions Provisions as Remarks

No. amended by the
Finance Act, 2022
16(2) Notwithstanding Notwithstanding A new clause (ba)

anything contained in anything contained in to sub-section (2)
this section, no this section, no of section 16 of the
registered person registered person CGST Act is to be
shall be entitled to shall be entitled to inserted to provide
the credit of any input the credit of any input that ITC with
tax in respect of any tax in respect of any respect to a supply
supply of goods or supply of goods or can be availed only
services or both to services or both to if such credit has
him unless,- him unless,- not been restricted
6
Provisions existing at the time of printing of this Supplementary Study Paper.
11

(a) …………… (a) …………… in the details
communicated to
(aa) ……….. (aa) ………..
the taxpayer under
(b) ……….. (b) ……….. section 38.
(ba) the details of Further, reference
input tax credit to section 43A is
in respect of being removed
the said supply from clause (c) to
communicated section 16(2) since
to such section 43A is
registered proposed to be
person under omitted.
section 38 has
not been
restricted;
(c) subject to the (c) subject to the
provisions of provisions of
section 41 or section 41 or
section 43A, section 43A,
the tax charged the tax charged
in respect of in respect of
such supply has such supply has
been actually been actually
paid to the paid to the
Government, Government,
either in cash or either in cash or
through through
utilisation of utilisation of
input tax credit input tax credit
admissible in admissible in
respect of the respect of the
said supply; and said supply; and
(d) ……………. (d) …………….
12

16(4) A registered person A registered person Sub-section (4) of
shall not be entitled shall not be entitled section 16 of the
to take input tax to take input tax CGST Act is to be
credit in respect of credit in respect of amended so as to
any invoice or debit any invoice or debit provide for an
note for supply of note for supply of extended time for
goods or services or goods or services or availment of ITC by
both after the due both after the 30th a registered person
date of furnishing of day of November in respect of any
the return under following the end of invoice or debit
section 39 for the financial year to note pertaining to
month of September which such invoice or a financial year.
following the end of debit note pertains or
financial year to furnishing of the
which such invoice or relevant annual
debit note pertains or return, whichever is
furnishing of the earlier.
relevant annual
return, whichever is
earlier.
13

7
REGISTRATION
1. Aadhaar authentication mandatory for existing registered person [New

rule 10B]
Lately Aadhaar authentication has been made
mandatory for the new registrants as well as for the
existing registrants. With regard to existing
registrants, section 25(6A) stipulates that every
registered person shall undergo authentication, or
furnish proof of possession of Aadhaar number, in
the prescribed form, manner and time. New rule 10B prescribes the manner
in which aadhaar authentication needs to be done by a registered person.
A registered person, who has been issued a certificate of registration under
GST, shall undergo authentication of the Aadhaar number of:-
 Proprietor, in the case of proprietorship firm,
 Any partner, in the case of a partnership firm,
 Karta, in the case of a Hindu undivided family,
 Managing director or any whole-time director, in the case of a company,
 Any of the Members of the Managing Committee of an Association of
persons or body of individuals or a Society, or
 Trustee in the Board of Trustees, in the case of a Trust;
and of the Authorized Signatory,
14

in order to be eligible for the following purposes:
 for filing of application for revocation of cancellation of registration
[Rule 23]
 for filing of refund application in Form RFD-01 [Rule 89]
 for refund of the IGST paid on goods exported out of India [Rule 96]
Consequential amendments by virtue of insertion of rule 10B have been made
in rule 23(1) (revocation of cancellation of registration), in rule 89(1)
(application for refund of tax, interest, penalty, fees or any other amount),
and in rule 96(1) (refund of integrated tax paid on goods or services exported
out of India).
First proviso to section 25(6A) provides that if an Aadhaar number is not
assigned to an existing registered person, such person shall be offered
alternate and viable means of identification in the prescribed manner. Such
manner has been prescribed by rule 10B as follows:
If Aadhaar number has not been assigned to the person required to undergo
authentication of the Aadhaar number, such person shall furnish the following
identification documents, namely: –
(a) his/ her Aadhaar Enrolment ID slip; and
(b) (i) Bank passbook with photograph; or
(ii) Voter identity card issued by the Election Commission of India; or
(iii) Passport; or
(iv) Driving license issued by the Licensing Authority
However, once Aadhaar number is allotted to such person, he shall undergo
the authentication of Aadhaar number within a period of 30 days of the
allotment of the Aadhaar number.
The afore-said rule 10B shall not be applicable to persons notified under
section 25(6D), i.e. to persons exempt from aadhaar authentication.
[Notification No. 35/2021 CT dated 24.09.2021 & Notification No.
38/2021 CT dated 21.12.2021]
[Effective from 01.01.2022]
15

2. Enhanced threshold limit of ` 40 lakh for registration available to
persons exclusively engaged in making supplies of goods not applicable
to suppliers of fly ash bricks/blocks, building bricks, bricks of fossil
meals, earthen/roofing tiles, etc.
Notification No. 10/2019 CT dated 07.03.2019 exempts any person who is
engaged exclusively in intra-State supply of goods and whose aggregate
turnover in a financial year does not exceed ` 40 lakh, from obtaining the
registration.
However, the persons engaged in making following supplies are not eligible
for said exemption:
Tariff item, sub- Description of goods

heading, heading
or Chapter
2105 00 00 Ice cream and other edible ice, whether or not

containing cocoa
2106 90 20 Pan masala
24 All goods, i.e. Tobacco and manufactured tobacco

substitutes
With effect from 01.04.2022, persons engaged in making supplies of

following goods will also not be eligible to avail benefit of said exemption
from registration even if they are engaged exclusively in intra-State supply of
goods and their aggregate turnover in a financial year is upto ` 40 lakh:
Tariff item, sub- Description of goods

heading, heading
or Chapter
6815 Fly ash bricks or fly ash aggregate with 90% or

more fly ash content; Fly ash blocks
6901 00 10 Bricks of fossil meals or similar siliceous earths
16

6904 10 00 Building bricks
6905 10 00 Earthen or roofing tiles

3. Extension of time-limit for filing application for revocation of
cancellation of registration by a registered person permitted beyond the
stipulated time [Rule 23]
With effect from 01.01.2021, proviso to section 30(1) was substituted by
the Finance Act, 2020 to permit the extension of time-limit for filing
application for revocation of cancellation of registration by a registered
person. It stipulated that the time period prescribed for filing of application
for revocation of cancellation of registration, (viz., 30 days from the date of service
of the order of cancellation of registration), may, on sufficient cause being shown,
and for reasons to be recorded in writing, be extended—
(a) by the Additional Commissioner or the Joint Commissioner, as the case
may be, for a period not exceeding 30 days;
(b) by the Commissioner, for a further period not exceeding 30 days,
beyond the period specified in clause (a).
In view of the above amendment, rule 23(1) has been suitably amended to
give effect to aforesaid amendment. Amended rule 23(1) reads as follows:
A registered person, whose registration is cancelled by the proper officer on
his own motion, may subject to provisions of rule 10B submit an
application for revocation of cancellation of registration, in prescribed form,
to such proper officer, within a period of 30 days from the date of the service
of the order of cancellation of registration or within such time period as
extended by the Additional Commissioner or the Joint Commissioner or
the Commissioner, as the case may be, in exercise of the powers provided
under the proviso to section 30(1), at the common portal, either directly or
through a Facilitation Centre notified by the Commissioner.
17

In the table given below, the existing provisions 7 of section 29(2) of the CGST Act
are compared with the provisions as amended by the Finance Act, 2022. It is
important to note that the below mentioned amendments have not been effective
till the time when the Supplementary Study Paper was released for printing.

No. amended by the
Finance Act, 2022
The proper officer The proper officer Clauses (b) and (c) of
29(2)
may cancel the may cancel the sub-section (2) of
registration of a registration of a section 29 are to be
person from such person from such amended so as to
date, including any date, including any provide that the
retrospective date, as retrospective date, registration of a
he may deem fit, as he may deem fit, person is liable for
where,- where,- cancellation, where –
(a) …………. (a) …………. (i) a person
(b) a person (b) a person paying tax
paying tax paying tax under
under section under section composition
10 has not 10 has not scheme has
furnished furnished the not furnished
returns for 3 return for a the return for a
consecutive financial financial year
tax periods; or year beyond beyond 3
3 months months from
from the due the due date of
date of furnishing of
furnishing the said return;
the said (ii) a person, other
return; or than those
7
18

(c) any registered (c) any registered paying tax
person, other person, other under
than a person than a person composition
specified in specified in scheme, has
clause (b), has clause (b), has not furnished
not furnished not furnished returns for
returns for returns for such
a continuous such continuous tax
period of six continuous period as may
months; or tax period as be prescribed.
may be
prescribed; or
(d) ……………. (d) …………….
(e) ……………. (e) …………….
19

8
TAX INVOICE; CREDIT
AND DEBIT NOTES;
E-WAY BILL
1. E-invoicing mandatory for all registered businesses with aggregate

turnover in any preceding financial year from 2017-18 onwards greater
than ` 20 crore
With effect from 01.10.2020,
e-invoicing was made
mandatory for all registered
businesses with an aggregate
turnover (based on PAN) in
any preceding financial year
from 2017-18 onwards
greater than ` 500 crore for
issue of all B2B invoices.
Since then, the threshold limit for issuing the e-invoices is being progressively
reduced.
With effect from 01.04.2022, such limit has been further reduced to ` 20
crore. Thus, e-invoicing has been made mandatory for all registered
businesses with an aggregate turnover in any preceding financial year from
2017-18 onwards greater than ` 20 crore.
20

2. E-invoicing not applicable to a Government Department and a local
authority
As seen above, e-invoicing is
mandatory for all registered
businesses with an aggregate
turnover in any preceding
financial year from 2017-18
onwards greater than ` 20 crore.
However, following entities are
exempt from the mandatory
requirement of e-invoicing:-
 Special Economic Zone units
 Insurer or banking company or financial institution including NBFC
 GTA supplying services in relation to transportation of goods by road
in a goods carriage
 Supplier of passenger transportation service
 Person supplying services by way of admission to exhibition of
cinematograph films in multiplex screens [Notification No. 13/2020 CT
dated 21.03.2020 as amended].
Said notification has been amended to exempt a Government Department
and a local authority also from the mandatory requirement of e-invoicing
even if their aggregate turnover in any previous financial year from 2017-18
onwards exceeds ` 20 crore.
3. Dynamic QR Code required to be provided on invoice issued to a person
having a UIN
All B2C invoices issued by a registered person whose aggregate turnover
in any preceding financial year from 2017-18 onwards exceeds ` 500 crores
are mandatorily required to have a Dynamic QR code from December 1,
2020 vide Notification No. 14/2020 CT dated 21.03.2020.
21

In this regard, Circular No. 156/12/2021 GST dated
21.06.2021 has clarified that any person, who has obtained a
Unique Identity Number (UIN), is not a “registered person” as
per the definition of ‘registered person’ provided under section
2(94). Therefore, any invoice, issued to such person having a UIN, shall be
considered as invoice issued for a B2C supply and shall be required to
comply with the requirement of Dynamic QR Code.
4. E-way bill generation facility to be blocked only in respect of outward
movement of goods, by the defaulting registered person [Rule 138E]
Rule 138E contains provisions
pertaining to blocking of e-way bill
generation facility, i.e. disabling the
generation of e-way bill.
Earlier, a user was not able to generate
e-way bill for a GSTIN if the said GSTIN
became ineligible for e-way bill generation in terms of rule 138E. It implies
that the GSTINs of such blocked taxpayers could not be used to generate the
e-way bills either as supplier (consignor) or as recipient (consignee).
Said rule has been amended to relax such restriction. Henceforth, blocking
of GSTIN for e-way bill generation facility is only in respect of any outward
movement of goods of the registered person who is ineligible for e-way bill
generation as per rule 138E. E-way bills can be generated in respect of inward
supplies received by said registered person.
Mr. A, a registered person paying tax under regular scheme in
Delhi, has not filed Form GSTR-1 for last 2 months. Mr. B,
Haryana, (a regular return filer) wants to generate an e-way bill
for goods to be supplied to Mr. A. As per earlier position of law,
Mr. B would not have been able to generate e-way bill with Mr. A’s GSTIN.
In terms of the amended position of law, there will be no more restriction in
generating e-way bill as Mr. B who is making outward movement of goods is
a regular return filer.
22

Mr. A wants to generate an e-way bill in respect of an outward supply of
goods to Mr. H. E-way bill generation is blocked in this case as it’s an outward
movement of goods of Mr. A who has not filed GSTR-1 for past 2 months.

In the table given below, the existing provisions 8 of section 34(2) of the CGST Act
are compared with the provisions as amended by the Finance Act, 2022. It is
important to note that the below mentioned amendments have not been effective
till the time when the Supplementary Study Paper was released for printing.

No. amended by the
Finance Act, 2022
Any registered person Any registered person Sub-section (2) of

34(2)
who issues a credit who issues a credit section 34 is to be
note in relation to a note in relation to a amended so as to
supply of goods or supply of goods or provide for an
services or both shall services or both shall extended time for
declare the details of declare the details of issuance of credit
such credit note in the such credit note in the notes in respect of
return for the month return for the month any supply made in
during which such during which such a financial year
credit note has been credit note has been upto 30th day of
issued but not later issued but not later November of the
than September than 30th day of following financial
following the end of November following year.
the financial year in the end of the
which such supply financial year in which
was made, or the date such supply was
of furnishing of the made, or the date of
relevant annual furnishing of the
8
23

return, whichever is relevant annual
earlier, and the tax return, whichever is
liability shall be earlier, and the tax
adjusted in such liability shall be
manner as may be adjusted in such
prescribed. manner as may be
prescribed.
24

9
PAYMENT OF TAX
1. Guidelines for disallowing debit of electronic credit ledger under rule 86A
Rule 86A provides that in certain specified circumstances, Commissioner or
an officer authorised by him, not below the rank of Assistant Commissioner,
on the basis of reasonable belief that ITC available in the electronic credit
ledger has been fraudulently availed or is ineligible, may not allow debit of
an amount equivalent to such credit in electronic credit ledger. CBIC has
issued guidelines for disallowing debit of said amount from electronic credit
ledger under rule 86A.
On perusal of rule 86A, it is evident that Commissioner, or an officer
authorised by him, not below the rank of Assistant Commissioner, must have
"reasons to believe" that ITC available in the electronic credit ledger is either
ineligible or has been fraudulently availed by the registered person, before
disallowing the debit of amount from electronic credit ledger of the said
registered person under rule 86A.
The reasons for such belief must be based on one or more following grounds:
 The credit is availed by the registered person on the invoices or debit
notes issued by a supplier, who is found to be non-existent or is found
not to be conducting any business from the place declared in
registration.
 The credit is availed by the registered person on invoices or debit notes,
without actually receiving any goods or services or both.
25

 The credit is availed by the registered person on invoices or debit notes,
the tax in respect of which has not been paid to the Government.
 The registered person claiming the credit is found to be non-existent
or is found not to be conducting any business from the place declared
in registration.
 The credit is availed by the registered person without having any invoice
or debit note or any other valid document for it.
[CBEC 20/16/05/2021 GST/1552 dated 02/11/2021]
2. Transfer of amount allowed from cash ledger under CGST Act of a
registered person to cash ledger under IGST Act/SGST Act/UTGST Act/CGST
Act of its distinct person. Maximum proportion of output tax liability
which may be discharged through electronic credit ledger to be prescribed
[Section 49]
With effect from 05.07.2022, following amendments have been carried out
by the Finance Act, 2022 in section 49:
Existing provisions Provisions as amended Remarks

by the Finance Act,
2022
Section 49 Section 49 Section 49 has

(1) …………….. (1) …………….. been amended so
(2) The input tax credit (2) The input tax credit as to:
as self-assessed in as self-assessed in (i) provide for
the return of a the return of a prescribing
registered person registered person restrictions
shall be credited to shall be credited to for utilizing
his electronic credit his electronic the amount
ledger, in credit ledger, in available in
accordance with accordance with the
section 41 or section 41 or electronic
section 43A, to be section 43A, to be credit ledger;
maintained in such maintained in such (ii) allow transfer
of amount
26

manner as may be manner as may be available in
prescribed. prescribed. electronic
cash ledger
(3) ……………… (3) ………………
under the
(4) The amount (4) The amount
CGST Act of a
available in the available in the
registered
electronic credit electronic credit
person to the
ledger may be used ledger may be used
electronic
for making any for making any
cash ledger
payment towards payment towards
under the
output tax under output tax under
said Act or
this Act or under this Act or under
the IGST Act
the Integrated the Integrated
of a distinct
Goods and Services Goods and Services
person;
Tax Act in such Tax Act in such
(iii) provide for
manner and subject manner and subject
prescribing
to such conditions to such conditions
the
within such time as and restrictions
maximum
may be prescribed. within such time as
proportion of
may be prescribed.
output tax
(5) …… (5) …… liability
(6) ………. (6) ………. which may be
(7) …….. (7) …….. discharged
(8) ………. (8) ………. through the
(9) ………… (9) ………… electronic
(10) A registered (10) A registered credit ledger.
person may, on the person may, on the
common portal, common portal,
transfer any transfer any
amount of tax, amount of tax,
interest, penalty, interest, penalty,
fee or any other fee or any other
amount available amount available
in the electronic in the electronic
cash ledger under cash ledger under
this Act, to the this Act, to the
27

electronic cash electronic cash
ledger for ledger for,––
integrated tax,
(a) integrated
central tax, State
tax, central
tax, Union
tax, State
territory tax or
tax, Union
cess, in such form
territory tax
and manner and
or cess; or
subject to such
conditions and (b) integrated
restrictions as may tax or
be prescribed and central tax
such transfer shall of a distinct
be deemed to be a person as
refund from the specified in
electronic cash sub-section
ledger under this (4) or, as the
Act. case may be,
sub-section
(5) of
section 25,
in such form
and manner
and subject
to such
conditions
and
restrictions
as may be
prescribed
and such
transfer
shall be
deemed to
be a refund
from the
28

electronic
cash ledger
under this
Act:
Provided that no
such transfer
under clause (b)
shall be allowed if
the said
registered person
has any unpaid
liability in his
electronic
liability register.
(11) ………….. (11) …………..

(12) Notwithstanding
anything
contained in this
Act, the
Government may,
on the
recommendations
of the Council,
subject to such
conditions and
restrictions,
specify such
maximum
proportion of
output tax
liability under
this Act or under
the IGST Act, 2017
which may be
29

discharged
through the
electronic credit
ledger by a
registered person
or a class of
registered
persons, as may
be prescribed.
3. Levy of interest on ITC wrongly availed and utilized [Section 50]

With effect from 05.07.2022, following amendments have been carried out
by the Finance Act, 2022 in section 50:

by the Finance Act,
2022
Section 50 Section 50 9 Sub-section (3) of

(1) …………… (1) …………… section 50 has
(2) ………….. (2) ………….. been substituted
(3) A taxable person (3) Where the input retrospectively,
who makes an tax credit has with effect from
undue or excess been wrongly 1st July, 2017, so
claim of input tax availed and as to provide for
credit under sub- utilised, the levy of interest on
section (10) of registered person input tax credit
section 42 or shall pay interest wrongly availed
undue or excess on such input tax and utilized.
reduction in credit wrongly
output tax availed and
liability under utilised, at such
9
It is important to note that the said amendment is deemed to have been inserted
with effect from 01.07.2017.
30

sub-section (10) of rate not
section 43, shall exceeding 24% as
pay interest on may be notified
such undue or by the
excess claim or on Government, on
such undue or the
excess reduction, recommendations
as the case may of the Council,
be, at such rate not and the interest
exceeding 24%, as shall be
may be notified by calculated, in
the Government such manner as
on the may be
recommendations prescribed.
of the Council.
31

10
RETURNS
1. Maximum late fees payable under section 47 for delayed filing of Forms
GSTR-1, GSTR-3B and GSTR-4, rationalized
Section 47 stipulates a specified amount of late fee for delay in filing any of
the following by their respective due dates:
(A) Statement of Outward Supplies [Section 37]
(B) Returns (including returns under QRMP Scheme) Returns [Section 39]
(C) Final Return [Section 45]
An equal amount of late fee is payable by such person under the respective
SGST/UTGST Act as well.
The late fee can be waived off partially or fully by the Central Government.
Since the inception of GST law, late fee is being regularly waived off by the
Central Government either partially or fully.
From the tax period June, 2021 onwards or quarter ending June, 2021 or FY
2020-21 onwards, as the case may be, late fee for delayed filing of Forms
GSTR-1, GSTR-3B and GSTR-4, has been rationalized as follows:
32

For delayed filing of GSTR-1 and/or GSTR-3B:-
Total amount of late fee payable under section 47 from June, 2021 / quarter
ending June, 2021 onwards, by the registered person who fail to furnish
Form GSTR-1 and/or Form GSTR-3B by the due date, shall be as follows:
Class of registered persons Quantum of Late fee
(1) Registered
persons who have nil
outward supplies in
Delayed filing of GSTR-1 and/or GSTR-3B
` 500 (` 250 each

the tax period/ whose under CGST &
total amount of tax SGST/UTGST)
payable in the GSTR-
3B is Nil, as the case
may be
Aggregate
` 2,000 (` 1,000
turnover ≤ ` 1.5
each under CGST
crores in the
& SGST/UTGST)
(2) Registered preceding FY
persons other
than those
covered in (1)
` 5 crores ≥
above, and
Aggregate ` 5,000 (` 2,500
turnover > ` 1.5 each under CGST
crores, in the & SGST/UTGST)
preceding FY
Registered Late fee as

persons other specified under
than (1) and (2) section 47
33

For delayed filing of GSTR-4:-
Total amount of late fee payable under section 47 from F.Y. 2021-22
onwards, by the registered person (composition taxpayer) who fails to furnish
Form GSTR-4 by the due date, shall be as follows:
Class of registered persons Quantum of Late fee
(1) Total tax payable in ` 500 (` 250 each under

GSTR-4 is Nil CGST & SGST/UTGST)
Where
(2) Registered persons
` 2,000 (` 1,000 each under
other than those covered
CGST & SGST/UTGST)
in (1) above
[Notification Nos 19-22/2021 CT all dated 01.06.2021]

2. Mandatory requirement of submitting reconciliation statement audited
by specified professional, done away with [Section 44 substituted]
With effect from 01.08.2021, section 44 has been substituted by the Finance
Act, 2021 so as to remove the mandatory requirement of furnishing a
reconciliation statement duly audited by specified professional and to
provide for filing of the annual return on self-certification basis. It further
provides for the Commissioner to exempt a class of taxpayers from the
requirement of filing the annual return.
Substituted section 44 reads as follows:
Every registered person, other than an input service distributor, a person
paying tax under section 51 or section 52 10, a casual taxable person and a
non-resident taxable person shall furnish an annual return which may include
a self-certified reconciliation statement, reconciling the value of supplies
declared in the return furnished for the financial year, with the audited annual
financial statement for every financial year electronically, within such time and
in such form and in such manner as may be prescribed.
10
The concept of input service distributor and provisions of sections 51 and 52 have been
discussed in detail at final level.
34

However, the Commissioner may, on the recommendations of the Council, by
notification, exempt any class of registered persons from filing annual return
under this section.
Further, nothing contained section 44 shall apply to any department of the
Central Government or a State Government or a local authority, whose books
of account are subject to audit by the Comptroller and Auditor-General of
India, or an auditor appointed for auditing the accounts of local authorities
under any law for the time being in force.

In the table given below, the existing provisions 11 of sections 37, 38, 39, 41, 42, 43,
43A, 47 and 48 of the CGST Act are compared with the provisions as amended by
the Finance Act, 2022. It is important to note that the below mentioned
amendments have not been effective till the time when the Supplementary Study
Paper was released for printing.

by the Finance Act, 2022
Section 37 Section 37 Section 37 is to be

(1) Every registered (1) Every registered amended so as to:
person, other than an person, other than (i) provide for
Input Service an Input Service prescribing
Distributor, a non- Distributor, a non- conditions and
resident taxable resident taxable restrictions for
person and a person person and a person furnishing the
paying tax under the paying tax under the details of
provisions of section provisions of section outward supply
10 or section 51 or 10 or section 51 or and for
section 52, shall section 52 , shall
12
communication
furnish, electronically furnish, electronically of the details of
11
Provisions existing at the time of printing of Supplementary Study Paper.
12
The concept of input service distributor and provisions of sections 51 and 52 have been
discussed in detail at final level.
35

in such form and subject to such such outward
manner as may be conditions and supplies to
prescribed, the restrictions and in concerned
details of outward such form and recipients;
supplies of goods or manner as may be (ii) do away with
services or both prescribed, the two-way
effected during a tax details of outward communication
period on or before supplies of goods or process in
10th day of the month services or both return filing;
succeeding the said effected during a tax (iii) provide for an
tax period and such period on or before extended time
details shall be 10th day of the upto 13th day
communicated to month succeeding of November
the recipient of the the said tax period of the
said supplies within and such details following
such time and in shall, subject to financial year
such manner as such conditions for rectification
may be prescribed. and restrictions, of errors in
within such time respect of
and in such manner details of
as may be outward
prescribed, be supplies
communicated to furnished
the recipient of the under sub-
said supplies. section (1);
Provided that the Provided that the (iv) provide for tax
registered person registered person period-wise
shall not be allowed shall not be sequential
to furnish the allowed to furnish filing of details
details of outward the details of of outward
supplies during the outward supplies supplies under
period from 11th during the period sub-section (1).
day to 15th day of from 11th day to
the month 15th day of the
succeeding the tax month succeeding
period. the tax period.
36

Provided further Provided further
that the that the
Commissioner may, Commissioner may,
for reasons to be for reasons to be
recorded in writing, recorded in writing,
by notification, by notification,
extend the time limit extend the time limit
for furnishing such for furnishing such
details for such class details for such class
of taxable persons as of taxable persons
may be specified as may be specified
therein: therein:
Provided also that Provided further
any extension of time that any extension of
limit notified by the time limit notified by
Commissioner of the Commissioner of
State tax or State tax or
Commissioner of Commissioner of
Union territory tax Union territory tax
shall be deemed to shall be deemed to
be notified by the be notified by the
Commissioner. Commissioner.
(2) Every registered (2) Every registered
person who has person who has
been communicated been communicated
the details under the details under
sub-section (3) of sub-section (3) of
section 38 or the section 38 or the
details pertaining details pertaining
to inward supplies to inward supplies
of Input Service of Input Service
Distributor under Distributor under
sub-section (4) of sub-section (4) of
section 38, shall section 38, shall
either accept or either accept or
reject the details so reject the details so
37

communicated, on communicated, on
or before 17th day, or before 17th day,
but not before 15th but not before 15th
day, of the month day, of the month
succeeding the tax succeeding the tax
period and the period and details
details furnished by furnished by him
him under sub- under sub-section
section (1) shall (1) shall stand
stand amended amended
accordingly. accordingly.
(3) Any registered (3) Any registered
person, who has person, who has
furnished the details furnished the details
under sub-section (1) under sub-section
for any tax (1) for any tax
period and which period and which
have remained have remained
unmatched under unmatched under
section 42 or section 42 or
section 43, shall, section 43, shall,
upon discovery of upon discovery of
any error or omission any error or
therein, rectify such omission therein,
error or omission in rectify such error or
such manner as may omission in such
be prescribed, and manner as may be
shall pay the tax and prescribed, and shall
interest, if any, in pay the tax and
case there is a short interest, if any, in
payment of tax on case there is a short
account of such error payment of tax on
or omission, in the account of such
return to be error or omission, in
furnished for such the return to be
tax period:
38

Provided that no furnished for such
rectification of error tax period:
or omission in Provided that no
respect of the details rectification of error
furnished under sub- or omission in
section (1) shall be respect of the details
allowed after furnished under sub-
furnishing of the section (1) shall be
return under section allowed after 30th
39 for the month of day of November
September following following the end of
the end of the the financial year to
financial year to which such details
which such details pertain, or
pertain, or furnishing furnishing of the
of the relevant relevant annual
annual return, return, whichever is
whichever is earlier. earlier.
Provided further that Provided further
………… that …………
(4) A registered person
shall not be
allowed to furnish
the details of
outward supplies
under sub-section
(1) for a tax period,
if the details of
outward supplies
for any of the
previous tax
periods has not
been furnished by
him:
Provided that the
Government may,
39

on the
recommendations
of the Council, by
notification,
subject to such
conditions and
restrictions as may
be specified
therein, allow a
registered person
or a class of
registered persons
to furnish the
details of outward
supplies under sub-
section (1), even if
he has not
furnished the
details of outward
supplies for one or
more previous tax
periods.
Section 38 is to be substituted as follows: Section 38 is to be
(1) The details of outward supplies furnished by substituted for
the registered persons under sub-section (1) of prescribing the
section 37 and of such other supplies as may be manner as well as
prescribed, and an auto-generated statement conditions and
restrictions for
containing the details of input tax credit shall
communication of
be made available electronically to the
details of inward
recipients of such supplies in such form and supplies and input
manner, within such time, and subject to such tax credit to the
conditions and restrictions as may be recipient by means of
prescribed. an auto-generated
statement and to do
40

(2) The auto-generated statement under sub- away with two-way
section (1) shall consist of–– communication
process in return
(a) details of inward supplies in respect of filing.
which credit of input tax may be
available to the recipient; and
(b) details of supplies in respect of which
such credit cannot be availed, whether
wholly or partly, by the recipient, on
account of the details of the said supplies
being furnished under sub-section (1) of
section 37,––
(i) by any registered person within such
period of taking registration as may
be prescribed; or
(ii) by any registered person, who has
defaulted in payment of tax and
where such default has continued
for such period as may be
prescribed; or
(iii) by any registered person, the output
tax payable by whom in accordance
with the statement of outward
supplies furnished by him under the
said sub-section during such period,
as may be prescribed, exceeds the
output tax paid by him during the
said period by such limit as may be
prescribed; or
(iv) by any registered person who,
during such period as may be
41

prescribed, has availed credit of
input tax of an amount that exceeds
the credit that can be availed by him
in accordance with clause (a), by
such limit as may be prescribed; or
(v) by any registered person, who has
defaulted in discharging his tax
liability in accordance with the
provisions of sub-section (12) of
section 49 subject to such conditions
and restrictions as may be
prescribed; or
(vi) by such other class of persons as

may be prescribed.

amended so as to:
(1) ……. (1) …….
(i) provide an
(2) …… (2) ……
option to the
(3) …… (3) ……. persons
(4) …… (4) ……. furnishing
return under
(5) …… (5) ……. proviso to sub-
(6) …… (6) …… section (1), to
pay either the
(7) …… (7) ……
self-assessed
Provided that every Provided that every tax or an
registered person registered person amount that
furnishing return furnishing return may be
under the proviso to under the proviso prescribed;
sub-section (1) to sub-section (1)
(ii) provide for an
shall pay to the shall pay to the
extended time
Government, the Government, in
upto 30th day
42

tax due taking into such form and of November
account inward and manner, and within of the
outward supplies of such time, as may following
goods or services or be prescribed,–– financial year,
both, input tax for rectification
(a) an amount
credit availed, tax of errors in the
equal to the tax
payable and such return
due taking into
other particulars furnished
account inward
during a month, in under section
and outward
such form and 39;
supplies of goods
manner, and within
or services or both, (iii) provide for
such time, as may
input tax credit furnishing of
be prescribed.
availed, tax details of
payable and such outward
other particulars supplies of a
during a month; or tax period
under sub-
(b) in lieu of the
section (1) of
amount referred to
section 37 as a
in clause (a), an
condition for
amount
furnishing the
determined in such
return under
manner and subject
section 39 for
to such conditions
the said tax
and restrictions as
period.
may be prescribed.
(8) …… (8) ……
(9) Subject to the (9) Where any
provisions of registered person
sections 37 and 38, after furnishing a
if any registered return under sub-
person after section (1) or sub-
furnishing a return section (2) or sub-
under sub-section (1) section (3) or sub-
or sub-section (2) or section (4) or sub-
43

sub-section (3) or section (5) discovers
sub-section (4) or any omission or
sub-section (5) incorrect particulars
discovers any therein, other than
omission or incorrect as a result of
particulars therein, scrutiny, audit,
other than as a result inspection or
of scrutiny, audit, enforcement activity
inspection or by the tax
enforcement activity authorities, he shall
by the tax rectify such
authorities, he shall omission or
rectify such omission incorrect particulars
or incorrect in the return to be
particulars in the furnished for the
return to be month or quarter
furnished for the during which such
month or quarter omission or
during which such incorrect particulars
omission or incorrect in such form and
particulars in such manner as may be
form and manner as prescribed, subject
may be prescribed, to payment of
subject to payment interest under this
of interest under this Act:
Act:
Provided that no
Provided that no such rectification of
such rectification of any omission or
any omission or incorrect particulars
incorrect particulars shall be allowed
shall be allowed after after 30th day of
the due date for November
furnishing of return following the end of
for the month of the financial year to
September or which such details
44

second quarter pertain, or the actual
following the end of date of furnishing of
the financial year to relevant annual
which such details return, whichever is
pertain, or the actual earlier.
date of furnishing of
relevant annual
return, whichever is
earlier.
(10) A registered person (10) A registered person
shall not be allowed shall not be allowed
to furnish a return for to furnish a return
a tax period if the for a tax period if the
return for any of the return for any of the
previous tax periods previous tax periods
has not been or the details of
furnished by him. outward supplies
under sub-section
(1) of section 37 for
the said tax period
has not been
furnished by him:
Provided that the
Government may,
on the
recommendations
of the Council, by
notification,
subject to such
conditions and
restrictions as may
be specified
therein, allow a
registered person
or a class of
45

registered persons
to furnish the
return, even if he
has not furnished
the returns for one
or more previous
tax periods or has
not furnished the
details of outward
supplies under sub-
section (1) of
section 37 for the
said tax period.
Section 41 is to be substituted as follows: Section 41 is to be

substituted so as to
(1) Every registered person shall, subject to such
do away with the
conditions and restrictions as may be
concept of “claim” of
prescribed, be entitled to avail the credit of
eligible ITC on a
eligible input tax, as self-assessed, in his return
“provisional” basis
and such amount shall be credited to his
and to provide for
electronic credit ledger.
availment of self-
(2) The credit of input tax availed by a registered assessed ITC subject
person under sub-section (1) in respect of such to such conditions
supplies of goods or services or both, the tax and restrictions as
payable whereon has not been paid by the may be prescribed.
supplier, shall be reversed along with
applicable interest, by the said person in such
manner as may be prescribed:
Provided that where the said supplier makes
payment of the tax payable in respect of the
aforesaid supplies, the said registered person
may re-avail the amount of credit reversed by
him in such manner as may be prescribed.
46

Sections 42, 43 and 43A are to be omitted so as to do away with two-way
communication process in return filing.

amended so as to
(1) Any registered (1) Any registered
provide for levy of
person who fails to person who fails to furnish
late fee for delayed
furnish the details of the details of outward or
filing of return under
outward or inward inward supplies required
section 52. Further,
supplies required under under section 37 or section
reference to section
section 37 or section 38 38 or returns required
38 to be removed
or returns required under under section 39 or section
consequent to the
section 39 or section 45 45 or section 52 13 by the
amendment in
by the due date shall pay due date shall pay a late fee
section 38.
a late fee of one hundred of one hundred rupees for
rupees for every day every day during which
during which such failure such failure continues
continues subject to a subject to a maximum
maximum amount of ` amount of ` 5,000.
5,000.
(2) ……………….. (2) ………………..
Section 48 Section 48 Consequent to the

amendment in
(1) ……….. (1) ………..
section 38, sub-
(2) A registered person (2) A registered person section (2) of section
may authorise an may authorise an 48 is to be amended
approved goods approved goods and so as to remove
and services tax services tax reference to section
practitioner to practitioner to furnish 38 therefrom.
furnish the details of the details of outward
outward supplies supplies under
under section 37, section 37, the
the details of details of inward
inward supplies supplies under
13
Provisions of section 52 have been discussed in detail at final level.
47

under section 38 section 38 and the
and the return return under section
under section 39 or 39 or section 44 or
section 44 or section 45 and to
section 45 and to perform such other
perform such other functions in such
functions in such manner as may be
manner as may be prescribed.
prescribed.
(3) ……………. (3) …………….
48

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INTERMEDIATE COURSE

SUPPLEMENTARY STUDY PAPER - 2022

PAPER 4B: INDIRECT TAXES

[A discussion on amendments made by the

(Relevant for students appearing in May, 2023 and

© The Institute of Chartered Accountants of India

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

Department/Committee : Board of Studies

Published by : The Publication & CDS Directorate on behalf of The

© The Institute of Chartered Accountants of India

© The Institute of Chartered Accountants of India

Happy Reading and Best Wishes for the forthcoming examinations!

© The Institute of Chartered Accountants of India

SUPPLY UNDER GST

1. Activities/ transactions between a person, other than an individual, and

© The Institute of Chartered Accountants of India

© The Institute of Chartered Accountants of India

1. Manufacturers of fly ash bricks/blocks, building bricks, bricks of fossil

Tariff item, sub-heading, Description

2105 00 00 Ice cream and other edible ice, whether or

2106 90 20 Pan Masala

24 All goods i.e. Tobacco and manufactured

2202 1010 Aerated water

With effect from 01.04.2022, Notification No. 14/2019 CT dated 07.03.2019

© The Institute of Chartered Accountants of India

6815 Fly ash bricks or fly ash aggregate

6901 00 10 Bricks of fossil meals or similar siliceous earths

6904 10 00 Building bricks

6905 10 00 Earthen or roofing tiles

Thus, manufacturers of the above-mentioned goods have become ineligible

© The Institute of Chartered Accountants of India

1. Amendments in the services exempted from GST

Sl. Description of services Effective

3 Pure services (excluding works contract service or 01.01.2022

© The Institute of Chartered Accountants of India

3A Composite supply of goods and services in which 01.01.2022

15 Transport of passengers, with or without 01.01.2022

© The Institute of Chartered Accountants of India

In other words, in case where services of transport

17 Service of transportation of passengers, with or 01.01.2022

© The Institute of Chartered Accountants of India

72 Services provided to the Central Government, State 01.10.2021

(ii) New exemption introduced

Sl. Description of services Effective

61A Services by way of 01.10.2021

© The Institute of Chartered Accountants of India

Sl. Description of services Effective

43 Services of leasing of assets (rolling stock assets 01.10.2021

Parallel amendments in exemptions from IGST to inter-State supply of

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INPUT TAX CREDIT

© The Institute of Chartered Accountants of India

AMENDMENTS MADE VIDE THE FINANCE ACT, 2022

Section Existing provisions Provisions as Remarks

16(2) Notwithstanding Notwithstanding A new clause (ba)

© The Institute of Chartered Accountants of India

© The Institute of Chartered Accountants of India

© The Institute of Chartered Accountants of India

1. Aadhaar authentication mandatory for existing registered person [New

© The Institute of Chartered Accountants of India