{"id":36099,"date":"2022-03-22T18:04:30","date_gmt":"2022-03-22T12:34:30","guid":{"rendered":"https:\/\/www.cagmc.com\/?p=36099"},"modified":"2024-06-01T15:50:30","modified_gmt":"2024-06-01T10:20:30","slug":"major-changes-in-goods-and-services-act-2017-under-budget-2022","status":"publish","type":"post","link":"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/","title":{"rendered":"Major Changes in Goods and Services Act, 2017 under Budget 2022"},"content":{"rendered":"<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-36102 size-full\" src=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022.png\" alt=\"Major Changes in Goods and Services Act 2017 under Budget 2022\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022.png 1200w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022-300x158.png 300w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022-1024x538.png 1024w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022-615x323.png 615w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022-400x210.png 400w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022-292x153.png 292w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Smt. Nirmala Seetharaman, the Finance Minister, presented the second digital union budget 2022-2023 on February 1, 2022. As a result, the proposed GST adjustments were covered by provisions 99 to 123. The <\/span><span style=\"font-weight: 400;\">Union Budget for 2022<\/span><span style=\"font-weight: 400;\"> was announced by the Finance Minister in the wake of the highest-ever tax receipts of 1.38 lakh crores from GST revenues. It is crucial to note that the proposed adjustments will take effect on the date when the <\/span><span style=\"font-weight: 400;\">Central Board of Indirect Taxes and Customs (CBIC)<\/span><span style=\"font-weight: 400;\"> notifies the public. Several suggested adjustments, on the other hand, will take effect on the day that the <a href=\"https:\/\/www.cagmc.com\/highlights-of-the-finance-bill-2021-income-tax\/\">Finance Bill<\/a>, 2022, is enacted. Furthermore, we shall discuss The Major Changes in GST in Budget 2022 in this blog.<\/span><\/p>\n<table style=\"width: 100%;\">\n<tbody>\n<tr>\n<td style=\"border: 1px solid #555;\">\n<p style=\"text-align: justify;\"><b>Table of Content<\/b><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#What\"><span style=\"font-weight: 400;\">What is Goods and Services Tax?<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#ITC\"><span style=\"font-weight: 400;\">ITC is now subject to even more restrictions.<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#The\"><span style=\"font-weight: 400;\">The Time Restriction for\u00a0ITC Claiming<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Extension\"><span style=\"font-weight: 400;\">Extension of Deadline for GSTR-5 Filing<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Changes\"><span style=\"font-weight: 400;\">Changes Under the provisions for cancellation of registration\u00a0<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#related\"><span style=\"font-weight: 400;\">Changes related to outward\u00a0supplies\u00a0<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Provisions\"><span style=\"font-weight: 400;\">Provisions for GST Return under section 39\u00a0<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Tax\"><span style=\"font-weight: 400;\">Tax refund under Section 54<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Conclusion\"><span style=\"font-weight: 400;\">Conclusion<\/span><\/a><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 id=\"What\" style=\"text-align: justify;\"><b>What is Goods and Services Tax?<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The GST (Goods and Services Tax) is an indirect tax (sometimes known as a consumption tax) imposed on the supply of goods and services in India. The Goods and Service Tax Act was passed by Parliament on March 29, 2017 and into effect on July 1, 2017. It is a destination-based, multistage, comprehensive tax as it includes practically all indirect taxes, with the exception of a few state levies. The <\/span><a href=\"https:\/\/www.cagmc.com\/gst-registration\/\"><span style=\"font-weight: 400;\">GST<\/span><\/a><span style=\"font-weight: 400;\">, as a multi-staged tax, is imposed at each stage of the production process, but it is intended to be refunded to all parties involved in the various stages of production except the final consumer, and as a destination-based tax, it is collected from the point of consumption rather than the point of origin, as previous taxes were.<\/span><\/p>\n<h2 id=\"ITC\" style=\"text-align: justify;\"><b>ITC is now Subject to even more Restrictions<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Under section 16(2), an additional condition for <a href=\"https:\/\/www.cagmc.com\/how-to-claim-itc\/\">claiming ITC<\/a> by a buyer has been imposed, stating that ITC with respect to an invoice can be claimed only if such ITC has not been restricted in the details communicated to the buyer in the form of an auto-generated statement (i.e. GSTR-2B) u\/s 38 of the <\/span><span style=\"font-weight: 400;\">CGST Act.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Also, section 38 has been amended to require that the auto-generated ITC statement (i.e. GSTR-2B) must now include the two key components listed below.<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Information on ITC that may be claimed;\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Information on ITC that cannot be claimed in connection with invoices submitted under section 37(1) \u2013<\/span>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">By any registered person within the time limits set forth in the registration agreement.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Any registered person within the time limits set forth in the registration agreement.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">By any registered person who has failed to pay tax and has been in default for a period of time as may be prescribed; or<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">By any registered person for whom the output tax payable in accordance with the statement of outward supplies given by him under the said paragraph during such period as may be prescribed exceeds the output tax paid by him during such period by such limit as may be prescribed.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Any registered person who, over such period as may be prescribed, has claimed an <\/span><span style=\"font-weight: 400;\">input tax credit<\/span><span style=\"font-weight: 400;\"> in an amount that exceeds the credit that he is entitled to under subsection (a), up to the prescribed limit.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">By any registered person who has failed to discharge his tax debt in accordance with the provisions of section 49, sub-section (12), subject to any terms and limits imposed.<\/span><\/li>\n<li id=\"The\">Or by any other group of people that may be specified.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>The Time Restriction for\u00a0ITC Claiming<\/b><\/h2>\n<p id=\"Extension\" style=\"text-align: justify;\"><span style=\"font-weight: 400;\">It is proposed that the time limit for claiming input tax credit be extended. According to this, a registered person can claim an input tax credit on an invoice\/debit note for the previous financial year by the 30th November of the following year. However, please note that, under existing laws, a registered person may claim an input tax credit for an invoice\/debit note issued during the previous fiscal year no later than September 30th of the following year.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><b>Extension of Deadline for GSTR-5 Filing<\/b><\/h2>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">By the 13th of the next month, a <\/span><span style=\"font-weight: 400;\">non-resident<\/span><span style=\"font-weight: 400;\"> taxable person must make a monthly return in GSTR-5.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Allow for an extension of time to correct errors in Form GSTR-3B until the 30th of November of the next fiscal year. Subsequently, Sections 47, 48, and 169 of the <\/span><span style=\"font-weight: 400;\">CGST Act<\/span><span style=\"font-weight: 400;\"> have been amended.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Allow the individual filing a return under proviso to Subsection (1) to choose between paying the self-assessed tax or the required amount.<\/span><\/li>\n<li id=\"Changes\">The filing of <span style=\"font-weight: 400;\">GSTR-1<\/span><span style=\"font-weight: 400;\"> has been made a requirement for the filing of GSTR-3B for the tax period in question.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>Changes Under The provisions for cancellation of registration\u00a0<\/b><b><\/b><\/h2>\n<ul style=\"text-align: justify;\">\n<li aria-level=\"1\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Section 29(2) (b) is being revised to provide for the cancellation of a composite dealer&#8217;s registration if he fails to file a return for a financial year more than three months after the required date.<br \/>\n<\/span><\/span>Previously, if a dealer failed to file a return for three consecutive tax months, the registration might be revoked. This change is being made because composite dealers were previously required to file quarterly returns, but are now required to file annual returns. As a result, three tax periods would equate to three years, which was not the goal of legislators. As a result, this change was required.<\/li>\n<li id=\"related\">Further, Section 29(2) (c) is being changed to allow for the termination of a dealer&#8217;s registration if he fails to submit a return for a specified length of time. (As a result, it appears that the administration intends to shorten the six-month period to two or three months.)<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>Changes related to outward\u00a0supplies\u00a0<\/b><\/h2>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It outlined the requirements for supplying outward supply details in GSTR-1 and communicating such details to recipients via GSTR-2B.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It allows for the filing of outward supplies in a logical order, without the need to skip tax periods.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">For rectification of inaccuracies affecting outward supplies as reported in GSTR-1, an extended time limit of till the 30th November of the next financial year was granted.<\/span><\/li>\n<li id=\"Provisions\">Due to the suspension of the <span style=\"font-weight: 400;\">GSTR-2 return<\/span><span style=\"font-weight: 400;\">, the two-way communication process for filing the return was cancelled.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>Provisions for GST Return under section 39\u00a0<\/b><\/h2>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The time limit for filing GSTR-5 by non-resident taxable persons will be reduced to the 13th of the following month instead of the 20th of the following month under Section 39(5).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Section 39(7) is being amended to give taxpayers who file a <\/span><a href=\"https:\/\/www.cagmc.com\/gst-return\/\"><span style=\"font-weight: 400;\">GST return<\/span><\/a><span style=\"font-weight: 400;\"> under the proviso to sub-section (1) the option of paying taxes either on a self-assessment basis (as is now done) or in a different manner that will be prescribed by the government later.<\/span><\/li>\n<li id=\"Tax\">Section 39(9) is being changed to provide for rectification of errors in returns filed under section 39 until the 30th November of the next fiscal year.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>Tax refund under Section 54<\/b><\/h2>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The amendment recommends that any balance in the &#8220;<a href=\"https:\/\/www.cagmc.com\/electronic-ledger-under-gst\/\">Electronic Cash Ledger<\/a>&#8221; be refunded in a specific prescribed form and manner.<\/span><\/li>\n<li id=\"Conclusion\">Furthermore, it is planned to set a two-year time limit for claiming a refund under section 55 of the <a href=\"https:\/\/cbic-gst.gov.in\/CGST-bill-e.html\" target=\"_blank\" rel=\"noopener\">CGST Act<\/a>, i.e., a refund for the specified agency, on inward supply of both goods and services.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>Conclusion<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Further, to conclude we can say that through these amendments, taxpayers have been given assistance in deploying their cash, but it is still required that they adhere to all compliance requirements.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Smt. Nirmala Seetharaman, the Finance Minister, presented the second digital union budget 2022-2023 on February 1, 2022. As a result, [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":36102,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[89],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Major Changes in Goods and Services Act 2017 under Budget 2022<\/title>\n<meta name=\"description\" content=\"Read about Major Changes in Goods and Services Act 2017 under Budget 2022. Time Restriction for ITC, Provisions for GST Return.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Major Changes in Goods and Services Act 2017 under Budget 2022\" \/>\n<meta property=\"og:description\" content=\"Read about Major Changes in Goods and Services Act 2017 under Budget 2022. Time Restriction for ITC, Provisions for GST Return.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Goyal Mangal &amp; Company\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/goyalmangal\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-22T12:34:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-01T10:20:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"CA Rishabh Maheshwari\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"CA Rishabh Maheshwari\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/\"},\"author\":{\"name\":\"CA Rishabh Maheshwari\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/#\/schema\/person\/c7a532ee41fb3606b665428f3dee9988\"},\"headline\":\"Major Changes in Goods and Services Act, 2017 under Budget 2022\",\"datePublished\":\"2022-03-22T12:34:30+00:00\",\"dateModified\":\"2024-06-01T10:20:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/\"},\"wordCount\":1219,\"publisher\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022.png\",\"articleSection\":[\"Latest News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/\",\"url\":\"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/\",\"name\":\"Major Changes in Goods and Services Act 2017 under Budget 2022\",\"isPartOf\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022.png\",\"datePublished\":\"2022-03-22T12:34:30+00:00\",\"dateModified\":\"2024-06-01T10:20:30+00:00\",\"description\":\"Read about Major Changes in Goods and Services Act 2017 under Budget 2022. Time Restriction for ITC, Provisions for GST Return.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/#primaryimage\",\"url\":\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022.png\",\"contentUrl\":\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022.png\",\"width\":1200,\"height\":630,\"caption\":\"Major Changes in Goods and Services Act 2017 under Budget 2022\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.cagmc.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Major Changes in Goods and Services Act, 2017 under Budget 2022\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/#website\",\"url\":\"https:\/\/www.cagmc.com\/blog\/\",\"name\":\"Goyal Mangal &amp; Company\",\"description\":\"Best CA Firm in Jaipur\",\"publisher\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.cagmc.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/#organization\",\"name\":\"Goyal Mangal & Company\",\"url\":\"https:\/\/www.cagmc.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.cagmc.com\/wp-content\/uploads\/2020\/01\/logo4.png\",\"contentUrl\":\"https:\/\/www.cagmc.com\/wp-content\/uploads\/2020\/01\/logo4.png\",\"width\":673,\"height\":145,\"caption\":\"Goyal Mangal & Company\"},\"image\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/goyalmangal\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/#\/schema\/person\/c7a532ee41fb3606b665428f3dee9988\",\"name\":\"CA Rishabh Maheshwari\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/04873f1a1698a4cc2724eb0f8f0c7225?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/04873f1a1698a4cc2724eb0f8f0c7225?s=96&d=mm&r=g\",\"caption\":\"CA Rishabh Maheshwari\"},\"description\":\"CA Rishabh Maheshwari is an associate Chartered Accountant having expertise in conducting statutory and internal audits of large clients. He has also done a certified course on Concurrent audits of banks. He is responsible for coordination, planning, team leadership in connection with Audits and GST of Private and Public Companies with an experience of almost 3 years.\",\"url\":\"https:\/\/www.cagmc.com\/blog\/author\/rishabhmaheshwari\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Major Changes in Goods and Services Act 2017 under Budget 2022","description":"Read about Major Changes in Goods and Services Act 2017 under Budget 2022. Time Restriction for ITC, Provisions for GST Return.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/","og_locale":"en_US","og_type":"article","og_title":"Major Changes in Goods and Services Act 2017 under Budget 2022","og_description":"Read about Major Changes in Goods and Services Act 2017 under Budget 2022. Time Restriction for ITC, Provisions for GST Return.","og_url":"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/","og_site_name":"Goyal Mangal &amp; Company","article_publisher":"https:\/\/www.facebook.com\/goyalmangal","article_published_time":"2022-03-22T12:34:30+00:00","article_modified_time":"2024-06-01T10:20:30+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022.png","type":"image\/png"}],"author":"CA Rishabh Maheshwari","twitter_card":"summary_large_image","twitter_misc":{"Written by":"CA Rishabh Maheshwari","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/#article","isPartOf":{"@id":"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/"},"author":{"name":"CA Rishabh Maheshwari","@id":"https:\/\/www.cagmc.com\/blog\/#\/schema\/person\/c7a532ee41fb3606b665428f3dee9988"},"headline":"Major Changes in Goods and Services Act, 2017 under Budget 2022","datePublished":"2022-03-22T12:34:30+00:00","dateModified":"2024-06-01T10:20:30+00:00","mainEntityOfPage":{"@id":"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/"},"wordCount":1219,"publisher":{"@id":"https:\/\/www.cagmc.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022.png","articleSection":["Latest News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/","url":"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/","name":"Major Changes in Goods and Services Act 2017 under Budget 2022","isPartOf":{"@id":"https:\/\/www.cagmc.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/#primaryimage"},"image":{"@id":"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022.png","datePublished":"2022-03-22T12:34:30+00:00","dateModified":"2024-06-01T10:20:30+00:00","description":"Read about Major Changes in Goods and Services Act 2017 under Budget 2022. Time Restriction for ITC, Provisions for GST Return.","breadcrumb":{"@id":"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/#primaryimage","url":"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022.png","contentUrl":"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Major-Changes-in-Goods-and-Services-Act-2017-under-Budget-2022.png","width":1200,"height":630,"caption":"Major Changes in Goods and Services Act 2017 under Budget 2022"},{"@type":"BreadcrumbList","@id":"https:\/\/www.cagmc.com\/blog\/major-changes-in-goods-and-services-act-2017-under-budget-2022\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.cagmc.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Major Changes in Goods and Services Act, 2017 under Budget 2022"}]},{"@type":"WebSite","@id":"https:\/\/www.cagmc.com\/blog\/#website","url":"https:\/\/www.cagmc.com\/blog\/","name":"Goyal Mangal &amp; Company","description":"Best CA Firm in Jaipur","publisher":{"@id":"https:\/\/www.cagmc.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.cagmc.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.cagmc.com\/blog\/#organization","name":"Goyal Mangal & Company","url":"https:\/\/www.cagmc.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cagmc.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.cagmc.com\/wp-content\/uploads\/2020\/01\/logo4.png","contentUrl":"https:\/\/www.cagmc.com\/wp-content\/uploads\/2020\/01\/logo4.png","width":673,"height":145,"caption":"Goyal Mangal & Company"},"image":{"@id":"https:\/\/www.cagmc.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/goyalmangal"]},{"@type":"Person","@id":"https:\/\/www.cagmc.com\/blog\/#\/schema\/person\/c7a532ee41fb3606b665428f3dee9988","name":"CA Rishabh Maheshwari","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cagmc.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/04873f1a1698a4cc2724eb0f8f0c7225?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/04873f1a1698a4cc2724eb0f8f0c7225?s=96&d=mm&r=g","caption":"CA Rishabh Maheshwari"},"description":"CA Rishabh Maheshwari is an associate Chartered Accountant having expertise in conducting statutory and internal audits of large clients. He has also done a certified course on Concurrent audits of banks. He is responsible for coordination, planning, team leadership in connection with Audits and GST of Private and Public Companies with an experience of almost 3 years.","url":"https:\/\/www.cagmc.com\/blog\/author\/rishabhmaheshwari\/"}]}},"_links":{"self":[{"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/posts\/36099"}],"collection":[{"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/comments?post=36099"}],"version-history":[{"count":5,"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/posts\/36099\/revisions"}],"predecessor-version":[{"id":51662,"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/posts\/36099\/revisions\/51662"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/media\/36102"}],"wp:attachment":[{"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/media?parent=36099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/categories?post=36099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/tags?post=36099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}