Retrospective GST amendments adjust input tax credit rules, extend limitation and authorize force majeure reliefs. The Amendment revises definitions and eligibility for GST registration and composition, delinks debit note timing from invoices for input tax credit, enables cancellation and extension mechanisms for registration revocation, and empowers the Government to notify invoice and TDS certificate requirements. Enforcement is tightened by making beneficiaries who retain proceeds of specified transactions liable to penalties equivalent to tax evaded and by treating fraudulent availment of input tax credit without invoices as cognisable and non-bailable. Transitional input tax credit rules and certain tax treatments are made retrospective; a new force majeure provision permits time-extension notifications, including retrospective effect.
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Provisions expressly mentioned in the judgment/order text.
Retrospective GST amendments adjust input tax credit rules, extend limitation and authorize force majeure reliefs.
The Amendment revises definitions and eligibility for GST registration and composition, delinks debit note timing from invoices for input tax credit, enables cancellation and extension mechanisms for registration revocation, and empowers the Government to notify invoice and TDS certificate requirements. Enforcement is tightened by making beneficiaries who retain proceeds of specified transactions liable to penalties equivalent to tax evaded and by treating fraudulent availment of input tax credit without invoices as cognisable and non-bailable. Transitional input tax credit rules and certain tax treatments are made retrospective; a new force majeure provision permits time-extension notifications, including retrospective effect.
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