Odisha State Cabinet approves GST Amendment Bill

The Odisha state cabinet has approved several new legislations in its latest meeting held virtually under the chairmanship of Chief Minister Naveen Patnaik. In particular, the cabinet has taken measures to amend the OGST Act in order to ease the burden on the taxpayers and tax authorities. These measures include:

  • Extending the scope of ineligibility to opt for composition scheme.
  • Delinking the date of issuance of debit note from the date of issuance of the underlying invoice to avail input tax credit.
  • Empowering proper officer to allot cancellation of registration of the registered taxpayers who have voluntarily obtained registration under section 25(3) of the said Act.
  • Granting the power to the Additional or Joint Commissioner to increase the time limit by an additional 30 days to apply for revocation or cancellation of registration subject to sufficient cause being shown.
  • Empowering the government to specify the categories of services or supplies in respect of which a tax invoice shall be issued along with time and manner for issuance of such invoice.
  • Ensuring that a certificate of TDS issued by the deductor of tax shall be published in such form as may be prescribed.
  • Delegating the beneficiary of the transactions of passing on or availing fraudulent Input Tax Credit liable for penalty similar to the penalty leviable on the person who commits such specified offences.
  • Extending punishment to a person who commits the offence of availing fraudulent Input Tax Credit and also to a person who retains benefit making such offences a cognizable and non-bailable offence.
  • Empowering the government to prescribe the manner and time limit for taking transitional credit
  • Including a new section, 168A, to extend due dates for various compliances on the recommendation of GST council during the war, epidemic, flood, drought, fire, cyclone and natural calamities.
  • Authorising the government to make provision for issuance of removal of difficulties order for another two years, i.e. till five years from the date-commencement of the OGST Act, 2017.
Leave a comment