Snippets of the CBIC circulars dated 27.12.2022
Circular No. 183/15/2022-GST
Welcome circular which would help all the RTPs during the issues arising during audit and assessment proceedings for FY 1718 & FY 1819 in view issues arising due to incorrect reporting in GSTR 1/3B and non appearing of the invoices in GSTR 2A. Similar clarification should be provided for the subsequent years also as long as there is no loss of revenue to Sovereign.
Circular No. 184/16/2022-GST
Welcome clarification for levy of GST arising due to operation of Section 12(8) of IGST Act 2017 and eligibility of claim u/s 16 of CGST Act 2017. Reg. ITC on transportation of goods including mail and courier to foreign destination
Circular No. 185/17/2022-GST
Clarification reg. calculation of limitation period u/s 75(2) of the GST Act
Circular No. 186/18/2022-GST
Clarifications issued for the Insurance Industry clarifying No Claim Bonus and E-Invoicing exemption at the entity level; not at the activity level.
Circular No. 187/19/2022-GST
Circular relevant for the companies to whom IBC proceedings initiated under Insolvency and Bankruptcy Code, 2016.
Circular No. 188/20/2022-GST
Circular reg. Refunds arising due to cancellation of contracts in real estate industry and insurance industry by an Unregistered person.
CA Jatin Minocha
Comment: