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Studycafe Admin | Jun 20, 2022 | Views 1

GST Law may be changed, Govt to allow amendments in GSTR-3B in Upcoming GST Council Meeting

GST Law may be changed, Govt to allow amendments in GSTR-3B in Upcoming GST Council Meeting

47th meeting of the GST Council will be held on 28-29 June 2022 (Tuesday and Wednesday) at Chandigarh. This Meeting is very crucial as an important decision of GST rate rationalization might be taken in this meeting.

Besides as per the latest media reports, GST Council may discuss the Slew of GST Law.

Also, GST Council to allow amendments in GSTR-3B. Additionally Government to further enhance the auto-population of GSTR-3B.

Council is likely to empower both Centre & State to issue Show Cause Notice (SCN) despite whether the taxpayer does not fall in their Jurisdiction, as a measure to plug revenue leakage.

GST Council will also propose to ease compliance bottlenecks for e-commerce suppliers by allowing e-commerce suppliers to register under the composition scheme. The discussion will be held to ease registration & reduce tax outgo.

E-Invoice

GST Council to allow Government-run NIC as another platform to register e-invoices. The government has also proposed 6 invoice registration portals to come into action in the next 6 months to provide adequate backend IT infrastructure to handle e-invoice load.

GST Annual Return

The Council is likely to continue to exempt taxpayers below Rs 2 er of annual turnover from filing GST annual returns under FORM GSTR-9/9A for FY 2021-22. It will further, enhance auto-population annual returns for better compliance.

A comprehensive review of NAA

GST Council is likely to present a comprehensive review of the National Anti-profiteering Authority (NAA). NAA has engaged Solicitor General to defend NAA in writ petitions challenging constitutional validity of NAA. Government is 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 is granted to consumers wherever profiteering has been done by the industry.

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