* Penalties & Interest for the FY 2017-18 to 2019-20 waived off if taxpayer pay complete tax amount by 31,March,2024(excluding cases of erroneous refund section(128A).
* The deadline to claim input tax credit on invoices and debit notes from FY 2017-18 to 2020-21 has been extended to Nov 30, 2021 through form GSTR 3B filing section 16(4) of CGST Act.
* The Rate of tax collected at source (TCS) by electronic commerce operators (ECOS) on supplies has been reduced from 1% to 0.50%.
* No interest will be levied under section 50 of CGST Act on amounts available in the Electronic Credit Ledger on the due date of filing form GSTR3B.
* conditional relaxation provided for filing returns during the period of cancellation of registration until revocation, if filed within thirty days of revocation.
* A circular will clarify that the financial year for ITC time limit under section 16(4) applies to RCM invoices issued by recipient.
* The time limit for filing the GSTR4 from FY 2024-25. has been increased from 30th April to 30th June.
* ITC is not restricted for ducts and Manholes used in optical Fiber cable network under CGST Act section 17(5).
* No filing of the appeal by the department if the demand is Upto Rs.20lakhs under GSTAT, upto Rs. 1 crore High court & Rs.2 crore in Supreme Court.
* Exempt taxpayer with annual turnover upto Rs. 2 crore from filing GSTR-9/9A for FY 2023-24.
* Amend section 73 and 74 of CGST Act and introduce section74A to establish a common time limit for demand notices and order, and extend the reduced Penalty payment period to 60 days