Cancellation of registration on non-filing of GST return
October 1, 2022COMPLIANCE CALENDAR FOR THE MONTH OF OCTOBER 2022
October 1, 2022
The CBIC vide Notification No. 18/2022- Central Tax dated September 28, 2022, notified various changes with effect from 1st October 2022.
Compulsory Reversal of GST Credit by Buyers for Non-Payment of GST by Supplier
Section 41 of the CGST Act, removes the concept of Provisional ITC and provided reversal of ITC where GST is not deposited by the supplier to Govt. exchequer along with the interest @ 18% PA and re-avail the same once payment has been made by the supplier in respect of such supplies.
