Key Update: Notification No. 8/2024-Central Tax on GST Procedures

Simplified Explanation of Notification No. 8/2024-Central Tax

Purpose of the Notification:

This notification modifies the deadline for a special GST procedure applicable to certain manufacturers. It amends Notification No. 4/2024-Central Tax, which originally set the deadline for implementing specific GST procedures related to the manufacturing of notified goods.

Details of the Amendment:

1. Original Notification (4/2024-Central Tax):
   • Established a special procedure for registered persons engaged in the manufacturing of certain notified goods.
   • Set a deadline for compliance, which was initially April 1, 2024.
2. Amendment (Notification No. 8/2024):
   • New Deadline: The deadline for implementing the special procedure is extended from April 1, 2024, to May 15, 2024.
   • Effective Date: This change takes effect from April 1, 2024.

Amended Paragraph:

1. • Old Text: “1st day of April, 2024”
   • New Text: “15th day of May, 2024”

Example:

• Original Deadline: Manufacturers were initially required to follow the special GST procedures by April 1, 2024.
• Extended Deadline: With this amendment, the new deadline for following these procedures is now May 15, 2024.

Summary:

• The notification extends the deadline for manufacturers to comply with the special GST procedures related to certain notified goods from April 1, 2024, to May 15, 2024. This extension helps ensure that businesses have adequate time to adhere to the new requirements.