Section-Wise Gst Analysis Finance Act 2022
- ITC is not to be availed if it is in the restricted category of GSTR-2B 2
- Reference to Section 43A removed from the conditions for availment of ITC 2
- Extension of the due date of availment of ITC to 30th November 3
- Cancellation of registration due to non-filing of returns for a shorter time period 4
- Due date of issuance of credit notes to 30th November 5
- Restrictions in the filing of GSTR-1 and extension of time limit till 30th November. 6
- Sequential filing of GSTR-1 and its exceptions 8
- Cases where ITC can be restricted in GSTR-2B 9
- Due date of filing GSTR-5 for non-resident taxable persons. 11
- Option to pay self-assessed tax or amount prescribed under the GST rules 12
- Due date of making rectification in GSTR-3B extended till 30th November 13
- GSTR-3B is to be filed only when GSTR-1 of the said period has been filed 14
- Reversal of ITC with interest if the supplier does not pay the taxes and re-availment thereof 15
- Removal of clauses for two-way communication of ITC mismatches and that of new returns:
- Levy of late fees for GSTR-8 and removal of that of GSTR-2 17
- Removal of reference to Section 38 for GST Practitioners 17
- Restriction for utilizing the amount available in the electronic credit ledger. 18
- Transfer of balance in electronic cash ledger between two distinct persons with the same PAN 19
- Maximum payment of output taxes allowed from electronic credit ledger 20
- The interest of 18% only on ITC wrongly availed and utilized 21
- Extension of rectification of GSTR-8 till 30th November 22
- Refund from electronic cash ledger not through GSTR-3B but through prescribed manner 23
- Extension of the limitation period for UN bodies till 2 years 24
- Withholding and deduction of amounts extended to all kinds of refunds 24
- The relevant date prescribed for a refund of supplies to SEZ without payment of tax 25
- Removal of reference to Section 38 in instructions to be issued by the Commissioner of the
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