🙏CA Professional Information 🙏

👉ICAI council has decided that revocation of UDINs would now be possible within 48 hours from the time of its generation. This means that now onwards, the members will be able to revoke the UDINs, if they so desire, only within 48 hours from the time they have been generated.

👉CBIC clarifies that taxpayers are liable to pay interest only if they utilized the wrongly availed Input Tax Credit (“ITC”) for the payment of GST liability. They announce a retrospective relief measure for taxpayers in this regard.

👉Furthermore, the CBIC informs about the reduction in the interest rate on wrongly availed and utilized ITC from 24% to 18% effective from July 1, 2017.

For more details kindly read
https://taxinformation.cbic.gov.in/view-pdf/1009417/ENG/Notifications

Warm Regards,

TEAM CHARTERED ACCOUNTANTS
Beri R & Associates
(Registered with ICAI on 1st February, 2023)
E Block Pocket-5 House No.1,
Sector-16, Rohini, Delhi-110089
Phone:- 011-35000618
Email Id:- carajakberi1996@gmail.com
Website:- www.berir&associates.com