GST Form SRM-I enabled for manufacturers of Pan Masala and Tobacco. Form GST SRM-II will also be made available on the portal shortly.
CBIC had issued Notification No. 04/2024 – Central Tax dated 05-01-2024 to seek information from taxpayers dealing in the pan masala and tobacco, khaini, jarda, snuff etc. A Special procedure was prescribed for the persons engaged in the manufacturing of above said goods.
Two forms had been notified namely GST SRM-I and GST SRM-II. It was provided All the registered persons engaged in manufacturing of the goods mentioned in Schedule to this notification shall furnish the details of packing machines being used for filling and packing of packages in FORM GST SRM-I, electronically on the common portal.Â
Also, a Special Monthly Statement namely FORM GST SRM-II is to be submitted for each month electronically on the common portal, on or before the tenth day of the month succeeding such month. The taxpayer is also required to upload a certificate of Chartered Engineer FORM GST SRM-III in respect of machines declared by him.
CBIC vide Notification No. 08/2024- Central Tax dated 10th April 2024 extended the date of applicability of this notification 04/2024 from 1st April 2024 to 15th May 2024
To begin with, facility to register the machines have been made available on the GST Portal to file the information in Form GST SRM-I. All taxpayers dealing in the items mentioned in the said notification may use the facility to file the information about machines. Form GST SRM-II will also be made available on the portal shortly.
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- Satisfaction Note u/s 153C – term immediate cannot be extended to unreasonable delay
- Addition for rental income on accrual basis deleted as court case was pending
- ITAT allows credit balance adjustment for addition of deemed dividend u/s 2(22)(e)
- Addition u/s 50C deleted based on FMV as per CA report under Rule 11UA(1)(b)
