Quick Summary
The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 12/2024 Central Tax dated July 10, 2024, to further amend Rule 142 of the CGST Rules. This amendment, effective from July 10, 2024, specifies the procedures for handling voluntary tax payments made by registered taxpayers and outlines the process for issuing orders and acknowledgments by the proper officer. Key Changes in Rule 142 of the CGST Rules Before Amendment Payment and Acknowledgment: Previously, i
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)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
Rule 142 of the CGST Act has been updated to introduce new electronic procedures for handling voluntary tax payments, issuing acknowledgments, and managing the Electronic Liability Register.
The amendments to Rule 142 of the CGST Rules are effective from July 10, 2024.
When a taxpayer makes a voluntary payment before receiving a notice or statement, they inform the proper officer using FORM GST DRC-03, and the acknowledgment in FORM GST DRC-04 will now be available electronically through the common portal.
FORM GST DRC-03A is a new electronic application that allows taxpayers to have voluntary payments of tax, interest, penalty, or other due amounts credited to their Electronic Liability Register (FORM GST PMT-01).
No, if an order concluding the proceedings in respect of the payment has already been issued (in FORM GST DRC-05), an application in FORM GST DRC-03A cannot be filed for that same payment.
If a taxpayer has made a partial payment or wishes to file submissions against a proposed liability, they can use Part B of FORM GST DRC-01A. The proper officer may then issue an intimation in Part-C of FORM GST DRC-01A.
CAclubindia
