GST News


-Finance Budget 2022 1.The Time Limits u/s 16(4), Section 34 & Section 37 , Section 52 has been extended by two months. 2. Section 42, 43 & 43A of CGST Act are omitted to do away with two way communication in filing of GST Returns 3. Section 41 has been substituted to do away with concept of provisional claim of ITC and to provide for ITC claim based on self assessment basis 4. Late fee has been provided for filing of GST Returns u/s 52 5. Levy of interest u/s 50(3) is provided for incorrect claim of ITC availed and utilised