Page 37 - DHC Budget Book 2021-22 Final
P. 37
Supply of goods by any unincorporated association or body of persons to a member thereof to be omitted from Schedule II to give effect to the amendment in the definition of supply.
Amendment relating to Input Tax Credit (ITC)
ITC in respect of an invoice or debit note
to be available only when the details of the invoice or debit note has been furnished by the supplier in their statement of outward supply (GSTR-1) and such details have been communicated to the recipient. [Sec. 16(2) (aa)]
Amendments relating to Annual Return and Reconciliation Statement
The mandatory requirement of getting annual accounts audited by a chartered accountant or a cost accountant proposed to be omitted. [Sec. 35(5)]
Annual Return may include a self-certified reconciliation statement, reconciling the value of supplies declared in the return furnished for the Financial Year, with the audited annual financial statement. [Sec. 44]
Departments of Central Government or a State Government or Local Authority, whose
Content
Budget Snapshots Basic 35
