Recently, Government has issued 2 Notifications both are very critical.
With the amendments in GST Laws, GST officials will enjoy more powers which adds on the difficulties in the miserable life of tax payers and tax professionals, these amendments are directly going to affect working capital of the tax payer and will also affect the tax compliance procedures making it more cumbersome. In this article we will touch upon only two notifications, namely:
1. Notification No. 92/2020- Central Tax dated 22nd December 2020 – amended the act.
2. Notification No. 94/2020- Central Tax dated 22nd December 2020 – amended the rule.
Read the full article: Recent amendments in GST Act and Rules