Rule 74 of CGST Rules 2017: Final Acceptance of Reduction in Output Tax Liability and Communication thereof

Rule 74 of ‘Central Goods and Services Tax (CGST) Rules 2017’: Final Acceptance of Reduction in Output Tax Liability and Communication thereof

Provisions under Rule 74 of the Central Goods and Services Tax (CGST) Rules, 2017 relating to “Final Acceptance of Reduction in Output Tax Liability and Communication thereof”, are as under:

CGST Rule 74: Final Acceptance of Reduction in Output Tax Liability and Communication thereof (Chapter-VIII: Returns)

(1) The final acceptance of claim of reduction in output tax liability in respect of any tax period, specified in sub-section (2) of section 43, shall be made available electronically to the person making such claim in FORM GST MIS-1 through the common portal.

(2) The claim of reduction in output tax liability in respect of any tax period which had been communicated as mis-matched but is found to be matched after rectification by the supplier or recipient shall be finally accepted and made available electronically to the person making such claim in FORM GST MIS-1 through the common portal.

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It may be noted that the above information is based on Updated CGST Rules 2017 (amended upto 18 July 2019), as compiled/ shared by CBIC (i.e. as notified/ amended upto 18 July 2019 by the CBIC). However, for detailed/ official information and/or subsequent updates, please refer relevant Notifications. E&OE

Further, it may be noted that Rules 27 to 138 (pertaining to various Chapters) of the Central Goods and Services Tax (CGST) Rules, 2017 were initially notified by CBIC (CBEC) vide CGST (2nd Amendment) Rules, 2017 Notification No. 10/2017 Central Tax dt. 28 June 2017, applicable w.e.f. 1 July 2017 (or as may be specified in respective Rules).

Other GST Related Posts:
Central Goods and Services Tax (CGST):
CGST Act/ Definitions CGST Rules/ Forms
CGST Notifications CGST Rate Notifications
CGST Circulars CGST Orders
Integrated Goods and Services Tax (IGST):
IGST Act/ Definitions IGST Rules/ Forms
IGST Notifications IGST Rate Notifications
IGST Circulars IGST Orders
Union Territory Goods and Services Tax (UTGST):
UTGST Act/ Definitions UTGST Rules/ Forms
UTGST Notifications UTGST Rate Notifications
UTGST Circulars UTGST Orders
List of Various State GST (SGST) Acts 2017 in India

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