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The plea has challenged Section 15(5) of the CGST Act, Rule 31A of the CGST Rules and a ₹16,000 crore GST show-cause notice issued under the said Rule.
Many new financial regulations are coming into effect from May 1. The changes in the rules will have an impact on the business class as well as the common man.
This new format would be used starting on May 1, 2023, to give taxpayers enough time to comply with this requirement.
With the amendments notified by the Central Board of Indirect Taxes and Customs (CBIC), businesses have also been allowed to make tax payments on the GSTN portal by using IMPS and UPI payment modes.
The mechanism for matching of input tax credit as per GST law is designed to be carried out by combined filing of Forms GSTR-1, GSTR-2 and GSTR-3.