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of <h1>Finance Bill 2022 proposes removing sections 42, 43, and 43A to simplify GST input tax credit and return filing.</h1> Clause 106 of the Finance Bill, 2022 proposes the omission of sections 42, 43, and 43A from the Central Goods and Services Tax Act. This action aims to eliminate the provisional claim of eligible input tax credits and the associated processes of matching, reversal, and reclaiming such credits. Additionally, it seeks to remove the two-way communication process in return filing related to the reduction in output tax liability. The omission of these sections is intended to simplify the tax credit and return filing procedures under the Act.
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