CGST (14th Amendment) Rules 2020 – Highlights / Key Amendments introduced
Central Government, on the recommendations of the Council has notified the Central Goods and Services Tax (Fourteenth Amendment) Rules, 2020
Application to be followed by followed by biometric-based Aadhaar authentication and taking photograph / KYC of the applicant.
Time for grant of Registration has been increased to seven days from three days.
More conditions added for cancellation of GST Registration.
Proper Officer may suspend the Registration without affording the reasonable opportunity of being heard.
The registration shall be suspended if an analysis of GSTR-1 of the taxpayer and suppliers / other analysis shows significant differences or anomalies.
10 % cap of claiming ITC in respect of invoices or debit notes, the details of which have not been uploaded by the suppliers has been reduced to 5 per cent.
It has been provided that taxpayers shall not use the amount available in electronic credit ledger to discharge his liability towards output tax in excess of ninety-nine per cent. of such tax liability.
Read Notification for more changes.
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