Odisha GST amendments introduce track and trace, unique identification marking, enhanced penalties and changes to input credit and returns. The Act empowers the Government to prescribe a track and trace mechanism including affixation of unique identification marking, electronic storage of information, recordkeeping, disclosure of manufacturing machinery details and payment of system charges; it creates a specific penalty equal to one lakh rupees or ten per cent of tax, whichever is higher, for contravention by specified persons, and amends definitions, input tax credit reversal rules, return and appeal conditions and Schedule III supply classifications.
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Odisha GST amendments introduce track and trace, unique identification marking, enhanced penalties and changes to input credit and returns.
The Act empowers the Government to prescribe a track and trace mechanism including affixation of unique identification marking, electronic storage of information, recordkeeping, disclosure of manufacturing machinery details and payment of system charges; it creates a specific penalty equal to one lakh rupees or ten per cent of tax, whichever is higher, for contravention by specified persons, and amends definitions, input tax credit reversal rules, return and appeal conditions and Schedule III supply classifications.
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