Amendments proposed in GST Act

ITC is available only if Supplier have filed his GSTR-1 (Section 16 amended).

GST Audit have been scrapped. Now only self-assessed form to be filed.

To be applicable from 1.4.2021. Clarification awaited

Interest to be charged only on Cash portion in case of delayed payment of tax. (Section 50 amended retrospectively from 01.07.2017) 

Telangana High Court have provided to pay on whole Sales Liability. Change have been done to overrule the decision.

The penalty in case of default in E-way Bill increased to 200% of Tax payable.

Tax to be paid within 15 days

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