Amendments in CGST Act 2017 by Finance Act, 2020
28/05/2021 Financial & Legal Services
Price: 1.00 ₹
Description
A new clause (aa) inserted in sub-section 1 of section 7 to amend the definition of supply.
A new clause (aa) added in sub-section 2 of section 16 to provide additional conditions for claiming ITC
Sub-section 5 of section 35 omitted to remove the statutory requirement of GST audit by certified professionals
Section 44 is substituted to give effect to the filing of annual return on a self-certification basis
Section 50 amended to give effect to charging of interest on net tax liability.
Section 74 is amended
Explanation inserted to section 75 to clarify the expression "self-assessed tax"
Section 83 of the CGST act amended to expand the scope of provisional attachment
Section 107 amended to enhance the pre-deposit penalty amount of the appeal
Section 129 & section 130 amended to strict the e-way bill compliances
Comments
More Details