The GST Council Meeting in its 47th meeting to be held on 28-29 June, 2022 (Tuesday and Wednesday) at Chandigarh is likely to discuss changes w.r.t. E-commerce, Show Cause Notice (“SCN“) jurisdiction of Officers and the National Anti-profiteering Authority (“NAA“), for ease of business, in a following manner:
- GST Council to discuss slew of law changed
- GST Council to ease compliance bottlenecks for e-commerce suppliers
- GST Council to allow e-commerce suppliers to register under composition scheme, to ease registration & reduce tax outgo
- Council likely to allow amendments in GSTR-3B
- ALERT: GSTR3B is the monthly GST return to be filed by taxpayers
- GST Council to allow Government run NIC as another platform to register e-invoices
- Government to have 6 invoice registration portal to come in action in next 6 months to provide adequate backend IT infrastructure to handle e-invoice load
- Council likely to empower both centre and state to issue Show Cause Notice despite whether the taxpayer does not fall in their jurisdiction, measure to plug leakage
- Council likely to allow utilisation of amounts available in electronic credit ledger and electronic cash ledger for payment towards output tax due in return, except those in form of penalty, interest or fees
- Council likely to continue to exempt taxpayers below Rs 2 cr of annual turnover from filing annual return under FORM GSTR-9/9A for FY 2021-22
- Government to further enhance auto population of GSTR3B and annual returns for better compliance
- Council likely to withdraw new return filing system as it is no longer relevant
- GST Council likely to be presented a comprehensive review of NAA
- NAA has engaged Solicitor General to defend NAA in writ petitions challenging constitutional validity of NAA
- Government likely to file for appeal in Supreme Court in cases where NAA has been remanded by State High Courts against orders
- NAA has constituted a panel of advocates to ensure the right justice to be granted to consumers wherever profiteering has been done by the industry
Source #CNBC-TV18
We have recently released the 7th Edition (May, 2022) of our book on Goods and Services Tax, titled, “GST LAW AND COMMENTARY – WITH ANALYSIS AND PROCEDURES”, updated with the Finance Act, 2022 in a set of 4 Volumes. We thank you all for the support and your enduring response.
Have a look at the complete tour of the Book at: https://cutt.ly/nF6O0oN
Order your copy now and be a part of the GST learning excursion in the most comprehensive and lucid form !!
For more details and purchase online at: https://cutt.ly/RFMox8D
