Under Notification No. 94 /2020 – dt 22.12.2020 Central Tax some amendments have been made in Rules and some of them relevant for day to day work is explained as under.
1. Time Limit for granting registration on application is extended from 3 days to 7 days[.Rule 9]
2. Physical Verfication of place of business is provided if found necessary and time limit for granting registration is upto 30days.[.Rule 9]
3. If GSTR 1 has mismatch between supplier and receiver, the Registratioin can be suspended[ Rule 21A(2A) ] and time limit for explanation from registered person is provided as 30days.No refund can be granted durinh suspension..
4.Where supplier fails to upload out ward supply and ITC to be claimed on that supplies, receiver restricted to 10% of ITC claim and now it amended to be 5%..(Rule 36(4)]
5. Rule 86 B is inserted which is explianed in separate blog.
