Webinar on
Amendments in GST from Union Budget 2021 & its impact on the Industry

 

18 March, 2021

  

The Finance Bill 2021 proposed certain progressions in CGST Act, 2017 and IGST Act, 2017 to track input credit frauds and to secure Government incomes. Few amendments will be applicable from retrospective effect, while there are further clarifications on the some of the clauses or sections, also some of the sections are amended or added or deleted.

 

To update the Industry about the impact of the amendments and way forward, ASSOCHAM is organizing a webinar on ‘Amendments in GST from the Union Budget 2021 & its impact on the Industry” on 18th March 2021. The webinar will see eminent tax experts from Industry and consultancy sharing their important views with the participants.

 

ISSUES TO BE COVERED:

 

·         The coverage of the expression supply has been further enhanced – Section 7 of the CGST Act : (Clause 99 of the Finance Bill)

·         Additional eligibility condition to avail ITC – Section 16 of the CGST Act: ( Clause 100 of the Finance Bill)

·         Audit under GST has been scrapped – Section 35 of the CGST Act: ( Clause 101 of the Finance Bill)

·         Filing of Annual return on self certification basis – Section 44 of the CGST Act: ( Clause 102 of the Finance Bill)

·         Interest on Net Cash Liability – Section 50 of the CGST Act : ( Clause 103 of the Finance Bill)

·         Separate recovery of tax proceeding in Transit checking – Section 74 of the CGST Act: ( Clause 104 of the Finance Bill)

·         “Self-assessed Tax” clarified – Section 75 of the CGST Act: ( Clause 105 of the Finance Bill)

·         Validity period of attachment one year – Section 83 of the CGST Act: (Clause 106 of the Finance Bill)

·         Pre-deposit of 25% of penalty for filing Appeal – Section 107of the CGST Act: (Clause 107 of the Finance Bill)

·         Delink the proceedings in transit for detention – Section 129 of the CGST Act: ( Clause 108 of the Finance Bill)

·         Delink the proceedings in transit for confiscation – Section 130 of the CGST Act: ( Clause 109 of the Finance Bill)

·         Jurisdictional Commissioner empowered to collect information-section 151 of the CGST Act:(Clause 110 of the Finance Bill)

·         Opportunity of hearing made mandatory for the purposes of proceeding- Section 152 of the CGST Act: (Clause 111 of the Finance Bill)

·         Jurisdictional Commissioner empowered to collect information- Section 168 of the CGST Act: (Clause 112 of the Finance Bill)

·         Schedule II to the CGST Act omitted – Section 7 of the CGST Act: (Clause 113 of the Finance Bill)

·       Zero Rate Supply to SEZ as well as  refund of ITC for Zero Rate Supply and restriction to make Zero Rates Supply on payments IGST and claim of Refund of ITC,provisions amended/overhauled – Section 16 of the IGST Act: ( Clause 114 of the Finance Bill)

 

SPEAKERS INCLUDES:

·         Mr. Pratik Jain, Chairman, National Council of Indirect Taxes, ASSOCHAM

·         Mr. J K Mittal, Co-chairman, National Council of Indirect Taxes, ASSOCHAM

·         Mr. Ritesh Kanodia, Co-chairman, National Council of Indirect Taxes, ASSOCHAM

·         Other experts from Tax profession

 

To register, click the following link (Registration is Free):  https://bit.ly/3bvBMcW






In case of any query, please feel free to contact Mr. Akshat Agarwal (
akshat.agarwal@assocham.com)  at 9873847923.

 

Look forward to receiving your early confirmation at this important program.

 

For more details please contact: 



Corporate Office
The Associated Chambers of Commerce and Industry of India
ASSOCHAM Corporate Office, 5, Sardar Patel Marg
Chanakyapuri, New Delhi - 110021
Phone: 46550555 (Hunting Line)
Fax: 01123017008/9

Email: web.notifications@assocham.com