Amendment in GST Law Coming Soon

GST Council in its 35th  meeting  dated 21.06.2019 approved certain amendments in Act mainly to provide legislative force for such decisions implemented through issue of notification/Removal of Difficulties’ orders.

Besides these, GST Council approved certain amendments to be carried out in the GST laws to implement the decisions of the GST Council taken in earlier meetings

1. Provision to check bogus registrations by linking to Aadhhar :  GST Council has given a go-ahead to a new system for
   verification of taxpayers registering themselves under GST. Aadhaar number shall be linked to the GSTIN while
   generation
2. Provision for supplier to mandatorily offer facility for digital payments by buyer.
3. Prescribing annual return & quarterly payment by composition taxpayer
4. Provision to empower the Commissioner to extend the due date for furnishing Annual return in FORM
   GSTR-9/9A/9C which was earlier done vide issuance of Removal of Difficulty order.
5. Provision to transfer amount from one head to another in electronic cash ledger
6. Provision to levy interest on net tax liability.
7. Provision to empower the Commissioner to extend the due date for furnishing the monthly statement in
   FORM GSTR-8 & annual statement by ecommerce operator which was which was earlier done vide issuance of Removal of Difficulty order.
8. Provision to enable disbursement of refund by a single Authority
9. Provision to establish a Centralized Appellate Authority for Advance Ruling (CAAAR)
10. Provision to levy penalty on the profiteered amount