Quick Summary
The Kerala Goods and Services Tax (GST) Department issued Circular No. 06/2024 on April 6, 2024, signaling a significant shift in its approach towards tax enforcement. The circular, titled Non-issuance of Notices in Case of Voluntary Compliance under Sections 73 and 74 of the KSGST Act, 2017, outlines new guidelines aimed at promoting voluntary compliance among taxpayers. In exercise of the powers conferred under Section 168 of the KSGST Act, 2017, the following instructions are issued to bri
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FAQ :
The circular aims to promote voluntary compliance among taxpayers by outlining guidelines for non-issuance of notices when tax obligations are met voluntarily under Sections 73 and 74 of the KSGST Act, 2017.
Taxpayers can voluntarily comply under Sections 73 and 74 of the KSGST Act, 2017.
Taxpayers can avoid the issuance of formal notices and, in cases under Section 74(5), pay a reduced penalty of fifteen percent of the unpaid tax, along with applicable interest.
Taxpayers can inform the proper officer in writing of their payment, often through FORM GST DRC-03 available on the common portal, providing a detailed breakup of tax, interest, and penalty.
If the voluntary payment falls short of the actual amount payable, the proper officer will issue a notice only for the outstanding amount, along with the applicable interest and penalty.
Taxpayers need to provide a detailed breakup of amounts paid, including tax, interest, and penalty. This can include details on tax dues, wrongly availed Input Tax Credit, or erroneous refunds, broken down by tax heads and periods.
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