Section-Wise Gst Analysis Finance Act 2022

1. ITC is not to be availed if it is in the restricted category of GSTR-2B 2
2. Reference to Section 43A removed from the conditions for availment of ITC 2
3. Extension of the due date of availment of ITC to 30th November 3
4. Cancellation of registration due to non-filing of returns for a shorter time period 4
5. Due date of issuance of credit notes to 30th November 5
6. Restrictions in the filing of GSTR-1 and extension of time limit till 30th November. 6
7. Sequential filing of GSTR-1 and its exceptions 8
8. Cases where ITC can be restricted in GSTR-2B 9
9. Due date of filing GSTR-5 for non-resident taxable persons. 11
10. Option to pay self-assessed tax or amount prescribed under the GST rules 12
11. Due date of making rectification in GSTR-3B extended till 30th November 13
12. GSTR-3B is to be filed only when GSTR-1 of the said period has been filed 14
13. Reversal of ITC with interest if the supplier does not pay the taxes and re-availment thereof 15
14. Removal of clauses for two-way communication of ITC mismatches and that of new returns:
15. Levy of late fees for GSTR-8 and removal of that of GSTR-2 17
16. Removal of reference to Section 38 for GST Practitioners 17
17. Restriction for utilizing the amount available in the electronic credit ledger. 18
18. Transfer of balance in electronic cash ledger between two distinct persons with the same PAN 19
19. Maximum payment of output taxes allowed from electronic credit ledger 20
20. The interest of 18% only on ITC wrongly availed and utilized 21
21. Extension of rectification of GSTR-8 till 30th November 22
22. Refund from electronic cash ledger not through GSTR-3B but through prescribed manner 23
23. Extension of the limitation period for UN bodies till 2 years 24
24. Withholding and deduction of amounts extended to all kinds of refunds 24
25. The relevant date prescribed for a refund of supplies to SEZ without payment of tax 25
26. Removal of reference to Section 38 in instructions to be issued by the Commissioner of the

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