What are DRC Forms?
DRC (Dispute Resolution and Compliance) forms are a set of forms used under the Goods and Services Tax (GST) regime in India. These forms facilitate communication, compliance, and resolution of disputes between taxpayers and GST authorities. Each DRC form serves a specific purpose, ranging from intimation of demand to filing appeals or making payments related to disputes or notices.
Key DRC Forms and Their Purposes
- DRC-01: Intimation of tax liability by the GST officer.
- DRC-02: Notice to the taxpayer regarding tax liability and reasons for the demand.
- DRC-03: Voluntary payment of tax or interest by the taxpayer.
- DRC-04: Acknowledgment of payment made under DRC-03.
- DRC-05: Formal withdrawal of proceedings initiated through DRC-01.
- DRC-06: Filing of a reply by the taxpayer in response to DRC-02.
- DRC-07: Issuance of a summary demand order.
- DRC-08: Withdrawal of summary demand.
- DRC-09: Recovery of dues by selling goods or property of the taxpayer.
- DRC-20: Application for payment in installments.
- DRC-21: Authorization for recovery of arrears.
- DRC-22: Release of seized goods or property.
Importance of DRC Forms
The DRC forms ensure transparency, compliance, accountability, and efficiency in tax dispute resolution processes. Understanding their roles is essential for maintaining compliance under the GST framework.