Rule Modification:
Government introduces amendments via the Central Goods and Services Tax (Seventh Amendment) Rules, 2021.
Effective Date:
Rules come into force on the date of their publication in the Official Gazette.
Extension of Proviso Period:
In rule 26, the fourth proviso sees changes, shifting the deadline from August 31, 2021, to October 31, 2021.
Omission of Provisos:
From November 1, 2021, all provisos under rule 26 are omitted, streamlining regulatory provisions.
Relief in Compliance:
Rule 138E sees a temporary relief period from May 1, 2021, to August 18, 2021, where certain return submissions are exempted from restrictions.
Enhanced Form GST ASMT-14:
Form GST ASMT-14 sees enhancements with added details like Order Reference Number and improved formatting.
Addressing Non-Compliance:
The changes reinforce efforts to address non-compliance issues and improve the efficiency of GST processes.
These amendments aim to simplify compliance procedures, extending deadlines and enhancing reporting formats for businesses.