In 48th #GST Council Meeting held recently, the Law Committee proposed various amendments in the GST Law. These include verification procedure of GSTR-2A vis-à-vis GSTR-3B; #Input_Tax_Credit (‘ITC’) reversal for non-payment of tax by supplier and re-availment thereof; manner of dealing difference of tax liability in GSTR-1 vis-à-vis GSTR-3B; ITC reversal in case of non-payment of consideration within 180 days; decriminalization of offences under GST; streamlining procedure required to be followed in adjudication etc.
Many such changes have been implemented vide Notification No. 26 & 27/2022-CT dated December 26, 2022. #CBIC has also issued multiple clarifications on diverse issues vide Circulars dated December 27, 2022.
Our Managing Partner, Mr. Puneet Bansal and Associate, Ms. Swati Goyal are addressing this webinar and touch-uponing following points:
• Analysis of recent changes & clarifications
• Way forward
