1. 2021 GST Updates
29th Dec 2021
(1) The 46th GST Council meeting was held on 31st December 2021 in New Delhi. Union FM Nirmala Sitharaman led meeting has decided to defer the GST rate hike to 12% for textiles.
(2) CGST Rule 36(4) is amended to remove 5% additional ITC over and above ITC appearing in GSTR-2B. From 1st January 2022, businesses can avail ITC only if it is reported by supplier in GSTR-1/ IFF and it appears in their GSTR-2B.
(3) The due date to file GSTR-9 & self-certified GSTR-9C for the FY 2020-21 has been extended up to 28th February 2022.
(4) Further amendments are carried out to seizure and detention rules, penalties related to the same, and certain forms such as DRC-10, DRC-22, DRC-23 and APL-01 stands amended with the addition of new form DRC-22A as per Central Tax notification no. 40/2021.