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AMENDMENTS IN THE CGST ACT 2017:

..... TGST Act means the Union Territory Goods and Services Tax Act, 2017 Amendments carried out in the Finance Bill, 2020 will come into effect from the date when the same will be notified, as far as possible, concurrently with the corresponding amendments to the similar Acts passed by the States & Union territories with legislature. S.No. Amendment Clause of the Finance Bill, 2020 1. The definitio .....

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..... the date of issuance of debit note from the date of issuance of the underlying invoice for purposes of availing input tax credit. [118] 4. Clause (c) of sub-section (1) of section 29 of the CGST Act is being amended to provide for cancellation of registration which has been obtained voluntarily under sub-section (3) of section 25. [119] 5. A proviso to sub-section 1 of section 30 of the CGST Act i .....

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..... new sub-section to make the beneficiary of the transactions of passing on or availing fraudulent Input Tax Credit liable for penalty similar to the penalty leviable on the person who commits such specified offences. [124] 10. Section 132 of the CGST Act is being amended to make the offence of fraudulent availment of input tax credit without an invoice or bill a cognizable and non-bailable offence; .....

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