The Central Board of Indirect Taxes and
Customs (CBIC) has notified several changes in GST Law effective from January
1st, 2022. Here are the top 10 changes.
1. New GST Burden on E-Commerce Operators Zomato, Swiggy, Ola, Uber:
On September 17, it
was decided at the Goods and Services Tax Council meeting that e-commerce
operators be made liable to pay tax on services provided through them namely
transport of passengers, by any type of motor vehicles restaurant services or
restaurant services provided, with some exceptions This will become effective
January 1, 2022, said a statement issued by the Finance Ministry after the GST
Council meeting.
2.
Correction in inverted duty structure
in Footwear &Textile sector:
The GST Council
decided to introduce GST rate changes from January 2022 in order to correct the
inverted duty structure in the Footwear and Textile Sector. All footwear,
irrespective of prices will attract GST at 12 percent while barring cotton, all
textile products including readymade garments will have GST at the rate of 12
percent.
3.
Blocking of GSTR-1
for non-filing of GSTR 3B:
From 1st January
2022, the GSTR-1 return filing facility will be blocked if you have not
submitted the return in FORM GSTR-3B for the previous two return periods. For
example, if a taxpayer has not filed GSTR-3B for October 2021 and November
2021, the GSTR-1 filing facility will be blocked from the 1st January 2022.
4.
Rules related to mandatory aadhaar
authentication for GST Refund & Revocation application:
The Central Board of
Indirect Taxes and Customs (CBIC) has notified that Rules related to Mandatory
Aadhaar authentication for GST Refund and Revocation application are to be
effective from 1 January 2022.
5. GST provision related to
communication of details or invoice or debit note to the recipient:
Section 109 of
the Finance Act, 2021 seeks to amend section 16 of the CGST Act wherein
sub-section (2), after clause (a), the clause shall be inserted, namely “(aa)
the details of the invoice or debit note referred to in clause (a) has been
furnished by the supplier in the statement of outward supplies and such details
have been communicated to the recipient of such invoice or debit note in the
manner specified under section 37.
6. Self-assessed tax
shall include the tax payable in respect of details of outward supplies:
Section 114 of the
Finance Act, 2021 seeks to Amend section 75, in sub-section (12), the
Explanation shall be inserted, namely “For the purposes of this subsection, the
expression “self-assessed tax” shall include the tax payable in respect of
details of outward supplies furnished under section 37, but not included in the
return furnished under section 39.”
7. Commissioner
empowered to attach provisionally, any property, including bank account:
Section 115 of the
Finance Act, 2021 seeks to Amend section 83, for sub-section (1), the
sub-section shall be substituted, namely “(1) Where, after the
initiation of any proceeding under Chapter XII, Chapter XIV or Chapter XV, the
Commissioner is of the opinion that for the purpose of protecting the interest
of the Government revenue it is necessary so to do, he may, by order in
writing, attach provisionally, any property, including bank account, belonging
to the taxable person or any person specified in sub-section (1A) of section
122, in such manner as may be prescribed.
8.
No appeal to be
filed against section 129(3) order, unless a sum equal to 25% of the penalty is
paid:
Section 116 of the
Finance Act, 2021 seeks to Amend section 107, in sub-section (6), the proviso
shall be inserted, namely “Provided that no appeal shall be filed against an
order under sub-section (3) of section 129, unless a sum equal to twenty-five
percent of the penalty has been paid by the appellant.”
9.
Commissioner’s Power
to call for information:
Section 119 of the Finance Act, 2021 seeks to Substitute of new section for section 151 namely “Power to call for information: The Commissioner or an officer authorized by him may, by an order, direct any person to furnish information relating to any matter dealt with in connection with this Act, within such time, in such form, and in such manner, as may be specified therein.”
10. Proper officer detaining or seizing goods or conveyance to issue notice within 7 days of such detention or seizure:
[The view presented in above blog/ article is from North Pole Management LLP. We believe that the views put forward are is in sync with applicable laws & regulations prevailing at present. Any discrimination, if found by reader can be reached out to the management of the company on the email ID of contact@northpolemanagement.in
