52 ND

GST COUNCIL
MEETING –
THINGS YOU MUST
KNOW!

CA PRITAM MAHURE AND

ASSOCIATES

[ 0 7 T H O C TO B E R 2 0 2 3 ]
Synopsis of the Meeting!

Key changes for Strategy

every taxpayer
KEY CHANGES
FOR EVERY
TAXPAYER!
GUARANTEE GIVEN FOR LOANS!

2 Types –

Corporate Guarantee
Personal Guarantee
given by one company
given by Directors to
for its subsidiary/
Company
sister concerns
GUARANTEE GIVEN FOR LOANS!

01 02 03
When no New sub-rule i.e. After new sub-rule,
Consideration is 28(2) to be inserted the value of supply
charged for giving which could make would be 1% of
Guarantee – then no giving Guarantee Guarantee amount of
GST payable (circular compulsorily taxable actual consideration
to be issued) charged (whichever is
higher)
TAXPAYERS WHO HAVE RECEIVED NOTICES
DEMANDING GST ON GUARANTEE!
DELAYED FILLING OR NON FILLING OF
APPEAL CAN BE CORRECTED NOW!
• Relaxation for Demand order passed on or before 31st March
1 2023 – but appeal not filed or appeal filed but rejected based
on time barring

2 • Appeal may be filed now upto 31st January 2024

• But this comes at a cost – tax payers now need to pay 12.5%
3
amount of tax as pre-deposit instead of usual 10%

• 2.5% of the tax amount needs to be paid in Cash (our of

4
aforesaid 12.5%)

• Taxpayers should use this opportunity and file an appeal with

5
proper contentions
CONSULTANTS NOW TO THEIR
TAXPAYERS FOR MISSED APPEAL!
ISD TO BE MADE COMPULSORY
FOR FUTURE!

To make it
Section 2(61),
mandatory,
Section 20 and rule
changes to be made
39 to be amended
in Act and Rules
TAXPAYERS WHO WERE DOING
CROSS CHARGES INSTEAD OF ISD!
INR RECEIVED MAY ALSO QUALIFY
AS EXPORT OF SERVICES!

Circular would
be issued that
Export would qualify
remittances the same as
received in export
Special INR
Vostro account
EXPORTERS WHO HAVE RECEIVED
CONSIDERATION IN INR!
GST APPELLATE TRIBUNAL!

Advocate having experience of more than 10 years in erstwhile

Tribunal or HC or SC

Would be eligible for appointment as Judicial Member in

Tribunal

Welcome move as the same stewards of the industry can bring in

their experience
TAXPAYERS LOOKING FOR TRIBUNAL TO
GO LIVE
STRATEGY!
WHAT YOU MUST DO!

01 02 03
Take benefit of Keep track of Train your team to
the changes Notifications and give effect to
relevant to your Circulars to follow these changes
business
TAXPAYERS REACTION BEFORE AND
AFTER CHANGES!
THANK YOU

CA Pritam Mahure and

Associates
020-27293425
Happy to Discuss!

https://pmaconsulting.in
CA Sahil Tharani
sahil.Tharani@lawgical.in / +91 E-books on GST
90988 90333
E-books on How to be Future
Proof