Union Budget 2022 proposed amendments to the Central Goods and Services Tax (CGST) Act
Amendment of section 16: – Amendment in provisions of Input Tax Credit
Amendment of section 29: – Amendments in provisions of Cancellation of GST Registration
Amendment of section 34: – Extension of Time limit of issue of credit notes
Amendment of section 37: – Amendment in Form GSTR-1 provisions
Substitution of new section for section 38: – Input Tax Credit can be availed which is not restricted as per GSTR-2B
Amendment of section 39: – Amendment in FormGSTR-3B provisions
Substitution of new section for section 41: – Subsituted Section 41 for “claim” of ITC on a “provisional” basis and to provide for availment of self-assessed input tax credit
Omission of sections 42, 43 and 43A: – Sections 42, 43 and 43A are being omitted so as to do away with two-way communication process in return filing
Amendment of section 47: -Late fee shall be levied in case of non-filing of GSTR-8 (TCS returns under section 52)
Amendment of section 48.
Amendment of section 49: – Amendment in provisions regarding Payment of Tax- Electronic Credit Ledger
Amendment of section 50. Interest to be levied on ITC wrongly availed and utilized Reduction in rate of interest u/s 50(3)
Amendment of section 52: – Extended time limit for rectification of Form-GSTR-8
Amendment of section 54: – Amendment in GST Refund provisions u/s 54
Amendment of section 168.
Amend. of notification issued under sec. 146 of CGST Act read with section 20 of IGST Act.
Amend. of notification issued under sub-sections (1) and (3) of sec. 50, sub-section (12) of Sec. 54 and of CGST Act, retrospectively.
Retrospective exemption from, or levy or collection of, central tax in certain cases.
Retrospective effect to notification issued under sub-section (2) of section 7 of CGST Act.
7-18
3.
New Functionalities made available for Taxpayers for the Month of January, 2022 on GST Portal
Registration
Returns
Refund
Payments
19-24
4.
Important point works contract of Construction of a complex, building, civil structure Etc under GST
(Input Tax Credit not available on some works contract with AAR)
What is a works contract?
Position under GST
Input Tax Credit not available on some works contract with AAR
Case Name: In re Ashish Arvind Hansoti (GST AAR Maharashtra)
Case Name: -Tianyin Worldtech India Private Limited (GST AAR Uttar Pradesh)
Case Name : In re Deccan Wheels (GST AAR Maharashtra)
Rate of GST
25-29
5.
Important Case Laws/ Advance Ruling Month of Jan to Feb 2022
Case Name: M/s. The Poona Club Ltd. (GST AAR Maharashtra): – MEMBERSHIP FEE, ANNUAL SUBSCRIPTION AND ANNUAL FEE COLLECTED FROM MEMBERS IS LIABLE TO GST
Case Name: M/s. Maanicare System India Pvt. Ltd. (GST AAR Maharashtra):- GST PAID UNDER REVERSE CHARGE MECHANISM FOR HIRING OF BUSES FOR TRANSPORTATION OF EMPLOYEES IS ELIGIBLE FOR ITC
Case Name: M/s. Sir J J College of Architecture Consultancy Cell (GST AAR Maharashtra): – COMPREHENSIVE ARCHITECTURAL SERVICES SUBJECT TO EXEMPTION UNDER GST VIDE NOTIFICATION NO.12/2017
Case Name: In re Manupatra Information Solutions Private Limited (GST AAR Uttar Pradesh): – GST exemption not available on online database, online books, newspapers, directories & non-educational journals
