Regulatory Amendment:
The Central Government, in line with GST Council recommendations, exercises its powers under section 128 of the CGST Act to modify notification No. 73/2017-Central Tax.
Deadline Adjustment:
The original deadline of June 30, 2022, for certain provisions is revised to a new deadline of July 28, 2022, providing businesses with extended time for compliance.
Specific Proviso Affected:
The modification impacts the sixth proviso of the notification, bringing changes to the timeline mentioned therein.
Council Recommendations:
The alteration aligns with the ongoing recommendations and decisions of the Goods and Services Tax Council.
Official Gazette Publication:
The changes are officially communicated through a Gazette of India notification, maintaining transparency in the regulatory framework.
Effective Date:
The revised deadline of July 28, 2022, becomes effective from the date of publication of the notification.
Past Amendments Acknowledged:
This amendment acknowledges the evolving nature of GST regulations and incorporates changes made through the notification issued on May 26, 2022.
Note: The adjustment in deadlines is aimed at facilitating smoother compliance processes for businesses amid changing economic scenarios.