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Important statutory changes in GST come w.e.f 1st April 2022 and applicable for FY 2022-23
Category: GST, Posted on: 09/04/2022
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G S T

  • E-invoice mandatory for registered persons having aggregate turnover above ₹20 crore in any of the previous years from 17-18 till 21-22 with effect from 01st April, 2022. The existing limit of ₹50 crores has been reduced to ₹20 crores through vide Notification No. 01/2022 - Central Tax issued on 24th February, 2022.
  • Time limit for availing Input tax credit pertaining to previous Financial Year has been extended from 30th September  to 30th November of subsequent year.
  • Extended time for issuance of credit notes in respect of any supply made in a financial year

upto  30th November of the following financial year.

  • Extended time limits for rectification of errors in the returns (GSTR-3B) pertaining to previous Financial Year upto the 30th day of November [Section 39(9) subjected to Sec 37 & 38)
  • Transfer of amounts available in Electronic Cash Ledger from minor heads to major heads to his own account or to the account of the distinct person having same PAN.

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