53rd GST Council Meeting Recommendations - Analysis of the Important Changes

This video Analyses -
1.ITC u/s 16(4) relief - 30/11/2021 becomes the new time limit for ITC pertaining to FY 17-18, 18-19 & 19-20
2.ITC on RCM on date of current invoice - for past years too
3.Waiver of interest and penalties on demand notices u/s 73 for FY 17-18, 18-19 & 19-20 in certain cases
4.No interest if Cash Ledger balances available while late filing of GSTR-3B
5.No ITC reversal required for Post Sale Discount COmmercial CNs
6.Clarification in respect of Warranty/ Extended Warranty provided by Manufacturers to the endcustomers
7.10% predeposit for appeal GSTAT filing; date of 'entering office'
8.Threhold for Dept for filing appeal
9.Changes to GST Returns
10.GST on Corporate guarantees
11 Pre deposit payment vide DRC-03 acceptable
12.Other important issues
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[@baibabhgutgutia4116]

Thanks Sir for the insightful analysis of the Recommendations

[@lookingsid]

Nicely explained Vivekji 👍

[@tarunsinghbhadouria5861]

Great analysis sir

[@tipsntricksguru]

If 73 demand is only for interest will it be waived off?

[@Tax_Connect]

Generally only interest and only penalty cases are not covered in such amnesty schemes. Tax payemnt is a must

[@mihirarya9696]

Nice Explanation Sir

[@Jamesdevassy]

Stop the GST●●