KYS – GST credit now dependent on Tax Compliant Supplier w.e.f October 1, 2022

The Govt has now scrapped two-way communication of GST return system and thereby, it is important to know your suppliers who should be tax compliant and filing their GSTR 1 and paying GST vide GSTR 3B correctly and on time for availing GST credit by the buyers/ recipient of Goods or Services or both.

The CBIC vide Notification no. 18/2022- Central Tax dated September 28, 2022 notified the following changes in this regard vide Section 107 of the Finance Act, 2022 in the Central Goods and Services Tax Act, 2017 (“the CGST Act”) read with Central Goods and Services Tax (Second Amendment) Rules, 2022 notified vide Notification No. 19/2022- Central Tax dated September 28, 2022 both w.e.f. October 01, 2022.

Source form - https://taxinformation.cbic.gov.in/view-pdf/1009513/ENG/Notifications