Budget 2021 proposes the imposition of some of the stringent provisions under the Goods and Services Tax (GST). The present article tries to explain the said provisions and their effect thereon, which are proposed to be imposed vide the Finance Bill 2021. Some of which includes Retrospective amendment introduced in ‘scope of supply’, Addition in condition for availing input tax credit, Recovery of tax on mis-match in the return and Expansion in the scope of provisional attachment.
Source Taxguru
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