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CBIC issues updates following GST Council’s 47th meeting

  • IN
  • July 12th 2022
  • By Pratik Jain

The Central Board of Indirect Taxes and Customs (CBIC) has issued notifications making key amendments to the Central Goods and Services Tax Rules, 2017, and the statutory forms therein in furtherance of announcements made at the recent 47th GST Council meeting. The CBIC has also issued circulars on a few key issues under the Central Goods and Services Tax Act, 2017; i.e. re-credit in the electronic credit ledger (ECL), refund under the inverted duty structure, refund of unutilised input tax credit (ITC) on account of export of electricity, other issues on ITC eligibility, utilisation of ITC from ECL, etc.

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