Скачать или смотреть NEW GUIDELINE issued for early recovery action on GST demands | Very Important | CA Ashwarya Agarwal

In this video, we dive deep into the nuances of GST recovery as outlined in Sections 78 and 79 of the Central Goods and Services Tax (CGST) Act, 2017. With the release of Instruction No. 01/2024-GST dated 30.05.2024, the government has provided new guidelines on how early recovery of GST demand can be initiated by the department.
Key Points Covered:

1. Overview of Sections 78 & 79 of the CGST Act:

Section 78: Explains the timeframe for initiating recovery proceedings and the conditions under which early recovery can be demanded.

Section 79: Details the modes of recovery available to the proper officer when a taxable person fails to pay the amount due.

2. Provisions of Section 78:

The general rule of allowing a three-month period for payment.

Circumstances under which the proper officer can shorten this period in the interest of revenue.

3. Guidelines from Instruction No. 01/2024-GST:

Specific criteria and procedural steps for initiating early recovery.

The roles and responsibilities of the jurisdictional Deputy or Assistant Commissioner and the Principal Commissioner/Commissioner of Central Tax.

Emphasis on balancing revenue interests with the ease of doing business.

4. Practical Implications for Taxpayers:

How these guidelines affect businesses.

Steps taxpayers should take to comply with the new recovery process.

Tips for maintaining compliance and avoiding early recovery actions.

Why Watch This Video?

Whether you are a business owner, tax professional, or a student of commerce, understanding these critical aspects of GST law will help you navigate the complexities of tax recovery proceedings. This video breaks down the legal jargon into simple, actionable insights, ensuring you are well-prepared to handle any GST recovery situation.

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