GST Updates 31.07.2021



Namaskar๐Ÿ™


๐Ÿ‡ฎ๐Ÿ‡ณ GST Updates 31.07.2021


1️⃣ NN 29/2021-CT, GSTR9C update

The provisions of Sections 110 and 111 of the Finance Act, 2021 shall come into effect from 1st August 2021.


The amended provisions will omit Section 35(5) of the CGST Act which mandated the certification of GSTR-9C by the Chartered Accountant or a Cost Accountant and will substitute Section 44 of the CGST Act so as to require a self-certified reconciliation statement in place of an audit report.


2️⃣ NN 30/2021-CT, Amend  Rule 80 provides for exemption from GSTR-9C to taxpayers having AATO upto Rs. 5 crores.

Composition- GSTR-9A

E-Commerce- GSTR-9B


3️⃣ NN 31/2021-CT, Exempt taxpayers having AATO upto Rs. 2 crores from the requirement of furnishing annual return for FY 2020-21.


4️⃣ Delhi Assembly passes GST Amendment Bill to smoothen tax filing process.


5️⃣ Rationalisation of GST structure into 3 slabs should happen soon: KV Subramanian.


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Regards

CA. Praveen Sharma

Your's GST Mitra www.thegstmitra.com

+91 9871530610

NIRC Candidate



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