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GST Compendium June 2024


The June edition of GST compendium provides the latest updates on GST judicial and legislative advancements. It highlights the Supreme Court's notice in SLP challenging levy of GST on Transfer of Development Rights (TDR), and CBIC’s instructions on initiating recovery under GST law. The compendium concludes with insights on GST 2.0, CBDT's PAN relaxation, and extended deadlines for trust exemptions.

Key highlights of the GST Compendium June 2024:

  • Important updates/announcements: In a welcome move, after realising excesses of the field formations while initiating recovery under the GST law, the CBIC has issued guidelines that the directions towards the recovery of GST dues within the expiry period can be made only after recording the reasons in writing.
  • Key judicial pronouncements: The Supreme Court has held that the penalty cannot be levied for non-fulfillment of export obligation in the absence of a specific penal provision under the relevant statute in this regard. Besides, the Kerala High Court has held that the government is empowered to extend the time limit to complete proceedings and pass an order under the GST laws in case of a force majeure event like the COVID-19 pandemic.
  • Important developments in direct taxes: The CBDT has provided relief from the mandatory requirement of furnishing PAN to the payer/seller in some instances where PAN has become inoperative. Further, the due date for filing a form for claiming exemption by a religious or charitable trust or institution in India has been extended to 30 June 2024.