Rule 74 of CGST Rules 2017: Final Acceptance of Reduction in Output Tax Liability and Communication thereof

Rule 74 of ‘Central Goods and Services Tax (CGST) Rules 2017’: Final Acceptance of Reduction in Output Tax Liability and Communication thereof

Provisions under Rule 74 of the Central Goods and Services Tax (CGST) Rules, 2017 relating to “Final Acceptance of Reduction in Output Tax Liability and Communication thereof”, as per CGST (2nd Amendment) Rules 2017 notified by CBEC on 28 June 2017, applicable w.e.f. 1 July 2017, are as under:

CGST Rule 74: Final Acceptance of Reduction in Output Tax Liability and Communication thereof (Chapter-VIII: Returns)

(1) The final acceptance of claim of reduction in output tax liability in respect of any tax period, specified in sub-section (2) of section 43, shall be made available electronically to the person making such claim in FORM GST MIS-1 through the common portal.

(2) The claim of reduction in output tax liability in respect of any tax period which had been communicated as mis-matched but is found to be matched after rectification by the supplier or recipient shall be finally accepted and made available electronically to the person making such claim in FORM GST MIS-1 through the common portal.

Related Posts:

CGST (2nd Amendment) Rules, 2017: CGST Notification No. 10/2017

CGST (Amendment) Rules 2017: CGST Notification No. 7/2017

CGST Rules 2017: CGST Notification No. 3/2017 dt. 19 June 2017   

Leave a Reply