Quick Summary
The Central Board of Indirect Taxes and Customs (CBIC), through Notification No. 20/2024 Central Tax dated October 8, 2024, has introduced a significant amendment to the pre-deposit requirements for filing appeals under the Goods and Services Tax (GST) framework. This change, effective from November 1, 2024, is aimed at easing the financial burden on businesses involved in GST disputes. Key Amendments in Rules 108(1) and 110(1) of the CGST Act Reduction in Pre-Deposit Limit: The pre-de
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FAQ :
The reduction in the pre-deposit requirement for GST appeals is effective from November 1, 2024.
The new pre-deposit requirement is 10% of the disputed tax or cess for filing appeals.
The cap for CGST, SGST, and cess has been lowered to £20 crore, and for IGST, it has been reduced to £40 crore.
Rules 108(1) and 110(1) of the CGST Act have been amended concerning the pre-deposit requirements.
The amendment is intended to ease the financial burden on businesses by reducing the immediate financial outflow required to file appeals, thereby easing working capital pressures and improving liquidity.
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