AMENDMENTS IN GOODS AND SERVICES TAX

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....tified concurrently, unless specified otherwise, as far as possible, with the corresponding amendments to the similar Acts passed by the States & Union territories with legislature. I. AMENDMENTS IN THE CGST ACT, 2017: S. No. Amendment Clause of the Finance Bill, 2025 1 Clause (61) of section 2 of the Central Goods and Services Tax Act is being amended to explicitly provide for distribution ....

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....n of Unique Identification Marking for implementation of Track and Trace Mechanism. [116] 4 Sub-section (4) of Section 12 relating to time of supply in respect of Vouchers is being deleted. Sub-section (4) of Section 13 relating to time of supply in respect of Vouchers is being deleted. [117, 118] 5 Clause (d) of sub-section (5) of section 17 is being amended to substitute the words "pl....

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....ng amended to explicitly provide for requirement of reversal of corresponding input tax credit in respect of a credit-note, if availed, by the registered recipient, for the purpose of reduction of tax liability of the supplier in respect of the said credit note. [121] 8 Section 38(1) is being amended to omit the expression "auto generated" with respect to statement of input tax credit in the sa....

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....enalty amount for appeals before Appellate Authority in cases involving only demand of penalty without any demand for tax. [124] 13 Section 112(8) is being amended to provide for 10% mandatory pre- deposit of penalty amount for appeals before Appellate Tribunal in cases involving only demand of penalty without any demand for tax. [125] 14 New section 122B is being inserted to provide penalty....