GUWAHATI: The Assam Cabinet approved the Assam Goods and Services Tax (Amendment) Ordinance, 2024, on Tuesday, November 19, 2024. The amendment aims to augment state revenue, ease taxpayer compliance, and promote ease of doing business in the state.
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The ordinance introduces changes to the Assam Goods and Services Tax Act, 2017, aligning it with updates in the Central Goods and Services Tax Act, 2017, wherever applicable.
Key amendments include-
- Relaxation in the time limit to avail Input tax credit (ITC) as per section 16(4) in respect of FY 17-18, 18-19, 19-20 and 20-21. The registered person shall now be entitled to take input tax credit in any return (GSTR 3B) under section 39, which is filed upto 30th November, 2021.
- New provision inserted to provide for a conditional waiver of interest and penalty in respect of demand notices issued under section 73 of the Assam GST Act for FY 17-18, 18-19 and 19-20, except the demands notices in respect of erroneous refund.