The Ministry of Finance (MoF) on October 11, 2024, issued clarification regarding the scope of "as is / as is, where is basis" mentioned in the GST Circulars issued based on the recommendation of the GST Council in its meetings.
The following has been stated: -
•The GST Council has clarified the scope of "as is" or "as is, where is basis" regularization for past GST non-payments or short-payments. This clarification resolves doubts among field formations and trade regarding applicable GST rates and the classification of goods or services.
•The 54th GST Council meeting on September 09, 2024, recommended issuing this clarification to address genuine doubts arising from competing entries with different rates or diverse interpretations.
•Regularization on an "as is" or "as is, where is" basis applies to specified cases, ensuring consistency and transparency in GST compliance.
The detailed circular is given in the document below.
[CircularNo.236/30/2024-GST]
