{"id":6305,"date":"2023-10-12T12:04:44","date_gmt":"2023-10-12T12:04:44","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=6305"},"modified":"2023-10-12T12:16:57","modified_gmt":"2023-10-12T12:16:57","slug":"form-drc-22","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/form-drc-22\/","title":{"rendered":"FORM DRC-22- Provisional attachment of Property order"},"content":{"rendered":"

\"FORM<\/h2>\n

FORM DRC-22- Automatic restoration of provisional attached property<\/strong><\/h2>\n

The Goods and Services Tax Council\u2019s Fifty Two meeting was held under chairpersonship of the Nirmala Sitharaman (Union Finance & Corporate Affairs Minister) in Delhi on October 07, 2023.<\/p>\n

Goods and Services Tax Council recommended amendment in Rule 159(2) of the CGST Rules, 2017 and Goods and Services Tax FORM DRC-22 by stipulating that any order for provisional attachment in Goods and Services Tax FORM DRC-22 will no longer remain valid after the passage of 1 year from the date of the started or initial order.<\/p>\n

GST Council amendment recommended in Rule 159(2) simplifies the process and facilitates automatic release of provisionally attached properties after completion of 1 year, eliminating the need for a specific written order or separate written order from the Goods & Services Tax Commissioner to affect the release.<\/p>\n

The GST Council has suggested after a long 6 year delay. The provisionally attached property should be automatically restored after a year without the requirement for a particular and separate order from the GST Authorities,<\/p>\n

The lifting of provisional attachments, which the GST Authorities initially imposed as a temporary measure for a limited duration of one year, has consumed a lot of taxpayer time and resources over the past six years.<\/p>\n

Since the implementation of GST, a clause in Section 83(2) of the CGST Act, 2017 states that a provisional attachment will no longer be valid when one year has passed since the date of the order. But still there was no automatic restoration of provisional attached property.<\/p>\n

<\/a><\/p>\n

Specific & A formal order of release is needed from the Goods and Services Tax Authorities to get property or bank account released by the taxpayer.<\/p>\n

The above amendment recommended may streamlines procedure for release of provisionally attached assets, offering more clarity & efficiency in compliance with Goods and Services Tax Rules & regulations as the CGST Rules, 2017.<\/p>\n

GST Press Release are attached here:\u00a0 https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=1965431<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

FORM DRC-22- Automatic restoration of provisional attached property The Goods and Services Tax Council\u2019s Fifty Two meeting was held under chairpersonship of the Nirmala Sitharaman (Union Finance & Corporate Affairs Minister) in Delhi on October 07, 2023. Goods and Services Tax Council recommended amendment in Rule 159(2) of the CGST Rules, 2017 and Goods and …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[933],"tags":[196],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/6305"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=6305"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/6305\/revisions"}],"predecessor-version":[{"id":6314,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/6305\/revisions\/6314"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=6305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=6305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=6305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}