Budget 2021 from the indirect tax standpoint made various announcements primarily focusing on the two major aspects i.e. penalize fraudulent transaction and reduce the compliance burden. Of the many amendments proposed under GST, three main amendments that needs serious deliberation by taxpayers are
a) The rationalization of the annual GST compliance;
b) The amendment to the provisional attachment provision; and
c) The amendment to the provision enhancing the power of the Commissioner to call for information
Source Taxguru
