Proposed changes in CGST Act by FB 2019
Finance bill 2019 introduced new changes in CGST Act:
Clauses 91 to 112 of finance bill 2019 introduced changes in CGST Act. These changes are important. Following is a brief table of all changes.
|
Sl.No |
Clause |
Amendment |
Impact |
|
1 |
Clause No.91 |
Section 2 |
Adjudicating authority not to include the National appellate authority |
|
2 |
Clause No.92 |
Section 10 |
Introduction of 6% levy for services providers. |
|
3 |
Clause No.93 |
Section 22 |
Threshold limit for registration |
|
4 |
Clause No.94 |
Section 25 |
Registration on the basis of Aadhar |
|
5 |
Clause No.95 |
Section 31A |
Mandatory facility of online payment to recipient |
|
6 |
Clause No.96 |
Section 39 |
Date of payment and filing of retrun |
|
7 |
Clause No.97 |
Section 44 |
Right to extend time limit of annual retrun |
|
8 |
Clause No.98 |
Section 49 |
Shifting of tax from one head to other head |
|
9 |
Clause No.99 |
Section 50 |
Interest on net payment only |
|
10 |
Clause No.100 |
Section 52 |
TCS deductor’s date extension power |
|
11 |
Clause No.101 |
section 53A |
Settlement of transferred tax between state and centre |
|
12 |
Clause No.102 |
Section 54 |
Central govt can also grant the refund for state tax |
|
13 |
Clause No.103 |
Section 95 |
NAAAR |
|
14 |
Clause No.104 |
Section 101A, 101B and 101C. |
NAAAR |
|
15 |
Clause No.105 |
Section 102. |
NAAAR |
|
16 |
Clause No.106 |
Section 103 |
NAAAR |
|
17 |
Clause No.107 |
Section 104 |
NAAAR |
|
18 |
Clause No.108 |
Section 105 |
NAAAR |
|
19 |
Clause No.109 |
Section 106 |
NAAAR |
|
20 |
Clause No.110 |
Section 168 |
44 $ 52 is also included for section 168 |
|
21 |
Clause No.111 |
Section 171 |
Penalty for anti-profiteering |
|
22 |
Clause No.112 |
Section Notification number G.S.R. 674(E) section 11 subsection (1) |
Retrospective exemption to uranium ore concentrate |
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