TMI BlogAMENDMENTS IN THE CGST ACT, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... ent. I. AMENDMENTS IN THE CGST ACT, 2017: S. No. Amendment Clause of the Finance Bill, 2022 1. A new clause (ba) to sub-section (2) of section 16 of the CGST Act is being inserted to provide that input tax credit with respect to a supply can be availed only if such credit has not been restricted in the details communicated to the taxpayer under section 38. Further, sub-section (4) of section 16 of the CGST Act is being amended so as to provide for an extended time for availment of input tax credit by a registered person in respect of any invoice or debit note pertaining to a financial year upto thirtieth day of November of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (iv) provide for tax period-wise sequential filing of details of outward supplies under sub-section (1). [102] 5. Section 38 of the CGST Act is being substituted for prescribing the manner as well as conditions and restrictions for communication of details of inward supplies and input tax credit to the recipient by means of an auto-generated statement and to do away with two-way communication process in return filing. [103] 6. Section 39 of the CGST Act is being amended so as to: (i) provide that the non-resident taxable person shall furnish the return for a month by thirteenth day of the followi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent in section 38 of the CGST Act, sub-section (2) of section 48 of the CGST Act is being amended so as to remove reference to section 38 therefrom. [108] 11. Section 49 of the CGST Act is being amended so as to: (i) provide for prescribing restrictions for utilizing the amount available in the electronic credit ledger; (ii) allow transfer of amount available in electronic cash ledger under the CGST Act of a registered person to the electronic cash ledger under the said Act or the IGST Act of a distinct person; (iii) provide for prescribing the maximum proportion of output tax liability which may be discharged through the electronic credit ledger. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Consequent to the amendment in section 38 of the CGST Act, sub-section (2) of section 168 of the CGST Act is being amended so as to remove reference to section 38 therefrom. [113] 16. Notification No. 9/2018 Central Tax, dated the 23rd January, 2018, is being amended so as to notify www.gst.gov.in, retrospectively, with effect from 22nd June, 2017, as the Common Goods and Services Tax Electronic Portal, for all functions provided under Central Goods and Services Tax Rules, 2017, other than those provided for e-way bill and for generation of invoices under sub-rule (4) of rule 48 of the CGST Rules. [114] 17. Not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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