Manner of determining input tax credit introduced vide Rajasthan Goods and Services Tax (Amendment) Rules, 2022

On 16-7-2022 the Finance Department of Rajasthan has notified the Rajasthan Goods and Services Tax (Amendment) Rules, 2022 to further amend the Rajasthan Goods and Services Tax Rules, 2017. The Amendment Rules has come into effect from 05-07-2022.

Key Amendment: –

  • In Rule 21A (4), a new proviso has been inserted which specifies suspension of registration and it will stand revoked on payment of all pending returns.
  • In Explanation to Rule 43, clause (d) has been inserted which specifies manner of determining input tax credit.
  • In Rule 86(4B) has been inserted which specifies the deposit of any registered person are erroneously sanctioned under electronic cash ledger the amount equivalent to the amount of erroneous refund deposited by the registered person shall be re-credited to the electronic credit ledger by the proper officer by an order made in FORM GST PMT-03A.
  • In Rule 87(3), clause (ia) and clause (ib) have been inserted which specifies two modes for deposit, which are as follows-

    (ia) Unified Payment Interface (UPI) from any bank;

    (ib) Immediate Payment Services (IMPS) from any bank;

  • Rule 88B, with retrospective effect from 01-07-2017 has been inserted, which deals with the manner of calculating interest on delayed payment of tax.
  • In Rule 89(1)(4), Explanation has been inserted which specifies goods exported out of India.
  • Rule 95A has been omitted with retrospective effect from 01-07-2017.
  • Rule 96(5) has been omitted with retrospective effect from 01-07-2017 and the following sub-rule (5A), (5B), (5C) has been inserted which specified the procedure for the claim of withholding refund.
    1. Rule 5A- When a refund is withheld as per Rule 96(4)(a)/(c), intimation of the same must be sent to the exporter electronically through the common portal.
    2. Rule 5B-When the refund is withheld as per Rule 96(4)(b), such claim shall be transmitted to the proper officer of Central tax, State tax or Union territory tax, as the case may be, electronically through the common portal in a system generated FORM GST RFD-01.
    3. Rule 5C- The application for refund in FORM GST RFD-01 is transmitted electronically through the common portal in terms of (5A) and (5B) that will be dealt with as per Rule 89.
  • In FORM GSTR-3 B, paragraph 3.1.1 has been inserted which deals with details of supplies notified under Rajasthan Goods and Services Tax Act, 2017.
  • FORM GST PMT- 03A has been inserted to define the manner in which the order for re-credit of the amount to Electronic Credit Ledger.
  • FORM GST RFD-10 B has been omitted with retrospective effect from 01-07-2019.

*Disha Srivastava, Publication Assistant has reported this brief.

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