In compliance of recently concluded GST Council meeting and recommendations made by the Council therein, the CBIC has issued various notifications to give effect to some of those recommendations on 05.07.2022.
We know that GST Council in its 47th meeting has made various observations and recommendations right from rate rationalization to ease of compliances. The Council also recommended CBIC to come up with few clarifications on various issues under GST.
In the first phase, the CBIC has accordingly issued notifications. Among these, Notification no 14/2022 makes amendments to CGST rules.
Similarly, notification no 13/2022 and 12/2022 pertains to date extensions and waiver of late fees in case of GSTR-4 for FY 20-21.
A crux of the important changes brought out by the notifications issued on 5th July 2022 are provided in the Youtube video, the link of which is given below:
You can find the key amendments made in these notifications in easy-to-understand language.
CAclubindia
