The Government of Punjab on May 12, 2023, issued the Punjab Goods and Services Tax (Third Amendment) Rules, 2023 to further amend the Punjab Goods and Services Tax Rules, 2017.
These Rules shall be deemed to have come into force from October 01, 2022
The following has been amended namely: -
• In Rule 21 which states “Registration to be canceled in certain cases” after clause (g) the following clauses shall be added namely: -
“(h) being a registered person required to file a return under sub-section (1) of Section 39 for each month or part thereof, has not furnished returns for a continuous period of Six months;
(i) Being a registered person required to file a return under proviso to sub-section (1) of section 39 for each quarter or part thereof has not furnished returns for a continuous period of two tax period.”
• In Rule 36 which states “Documentary requirements and conditions for claiming input tax credit”
(a) In sub-rule (2) the words, letters, and figures “, and relevant information, as contained in the said document, is furnished in FORM GSTR-2 by such person” shall be omitted.
(b) In sub-rule (4) in clause (b) after the words, “the details of” the words, “input tax credit in respect of” shall be inserted.
• In Rule 37 which states “Reversal of input tax credit in the case of non-payment of consideration.”
(a) For Sub-rules (1) and (2) the following sub-rules shall be substituted namely: -
“(1) A registered person, who has availed of the input tax credit on an inward supply of goods or services or both, other than the supplies on which tax is payable on a reverse charge basis, but fails to pay to the supplier thereof the amount towards the value of such supply along with the tax payable thereon within the time limit specified in the second proviso to the subsection (2) of section 16 shall pay an amount equal to the input tax credit availed I respect of such supply along with interest payable thereon under section 50 while furnishing the return in FORM GSTR- 3B for the tax period immediately following the period of one hundred and eighty days from the date of the issue of the invoice.
Provided that the value of supplies made without consideration as specified in the schedule- I of the said Act shall be deemed to have been applied for the purpose of the second proviso to subsection (2) of section 16.
Provided further that the value of the supplies on the account of any amount added in accordance with the provisions of clause (b) of subsection (2) of section 15 shall be deemed to have been paid for the purposes of the second proviso to subsection (2) of section 16.
(2) Where the said registered person subsequently makes the payment of the amount towards the value of such supply along with the tax payable thereon to the supplier thereof he shall be entitled to re-avail the input tax credit referred to in sub-rule (1), and
(b) Subrule (3) shall be omitted.
[Notification No. G.S.R.55/P.A 5/2017/S.164/Amd. (62)/2023.]
