The GST Council had taken a laudable decision to defer hike in GST rate on textiles from 5% to 12% w.e.f January 1, 2022 as it will give much-needed impetus and support to textile sector
GSTN portal has implemented Rule-59(6) of the CGST Rules, 2017 with immediate effect. As per Notification No. 35/2021 - Central Tax dated 24th September 2021, clause (a) of the sub-rule (6) of Rule 59 of CGST Rules, 2017 was amended.
Central Government has brought into effect the provisions of Finance Act, 2021 effective from 1st January, 2022. In the Budget of 2021-22, changes in Finance Bill,2021 were proposed to make changes in CGST Act, 2017.
CBDT vide Notification No. 139/2021/F. No. 370142/66/2021-TPL dated 28.12.2021 substituted the Faceless Appeal Scheme, 2020 ("old scheme") with Faceless Appeal Scheme, 2021 ("new scheme").
If supplier does not file GSTR-1 timely and correct it can affect the business relationship adversely and the recipient can also recover interest from supplier as recipient cannot claim ITC of the same.
The Hight Courts and the Apex Court of India has given vide power of supervisory role and to hear and decide cases based on some specific criteria. These courts generally do not interfere the normal proceedings of Quasi-Judicial Authorities and Tribunals or other forums.
So when failure knocks on your door, don't fear, rather do come back with more vigor.
With the beginning of the new year there are certain dates which needs to be taken care of, here is the list of compliance due date for the month of January 2022.
I have compiled this article to discuss a critical radical change that is happening in the E-waybill GST Regulatory Framework.
Statutory Tax Compliance Tracker for the month of January, 2022
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