Maximum permissible limit for ITC over and above GSTR 2A amount is reduced from 10% to 5%.
o Henceforth, mere uploading of invoice in GSTR-1 will not suffice; GSTR1 has to be mandatorily FILED by supplier.
o GSTR 1 cannot be filed if GSTR 3B is not filed for preceding 2 months / one tax period (under QRMP scheme)
Persons with Taxable Turnover > 50 lakhs per Month/tax period shall pay at least 1% of tax through cash ledger compulsorily even though the balance is available in credit ledger. (New Rule 86B inserted – subject to exemptions)
Now the officer can proceed for cancellation of GSTIN where a taxpayer :
Now, NO opportunity of being heard shall be given for SUSPENSION OF GSTIN, i.e., GSTIN will be suspended if the officer has reasons to believe that the registration of the person is liable to be cancelled.
E-way bill travel time reduced. Minimum kms. to be covered has been increased from 100 kms/day to 200 kms/day.