- Summary of GST Amendments vide Notification No. 94/2020-Central Tax applicable from 01.01.2021
- I. ITC related changes – Capping of ITC availment for missed invoices at 5%
- II. Tax payment related changes – compulsory payment of tax of at least 1% by cash (subject to exceptions)
- III. Suspension/cancellation of GST Registration
- IV. New GST Registration
- V. Suspension of the filing of GSTR 1
- VI. E-way bill – Available travel time curtailed by 50%
- Provisions of Finance Act, 2020 related to GST Applicable From 01.01.2021
Source Taxguru
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