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
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)
3 Months PLAN
999
(Excl. of GST ₹179)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience.
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.
CAclubindia
