_Open & Free For All_ *3rd Jan.,2021 - Sunday - 3pm to 5pm* | Curious CA- Latest Updates

_Open & Free For All_
*3rd Jan.,2021 - Sunday - 3pm to 5pm*

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_Coverage :_
Restricting use of ITC amount for discharging output tax liability in GST - R. 86A & 86B
Rule 36(4) amended to reduce ITC entitlement for invoices not furnished by supplier from 10% to 5%
Important GST Provisions under the the Finance Act, 2020
New grounds for cancellation of registration under GST - No opportunity of being heard to taxpayers for suspension of registration
Increased the time limit for verification of registration application from 3 working days to seven working days
Biometric based Aadhaar authentication/verification process for GST registration
Cancellation of registration under Rule 22 of the CGST Rules aligned with newly inserted sub-rule (2A) of Rule 21A
New Form GST REG-31 notified for “Intimation for suspension and notice for cancellation of registration”
Blocking of GSTR-1 in case of non-filing of GSTR-3B of preceding two months/preceding tax period
Validity of e-way bill narrowed by increasing distance from 100 km. to 200 km. per day
Person whose registration has been suspended is now restricted from furnishing PART A of E-Way Bill

To Your Success.