Uttar Pradesh cabinet approves amendment to UP GST Act to give relief to small taxpayers

The Uttar Pradesh cabinet on Tuesday approved draft of Uttar Pradesh Goods and Services Tax (Amendment) Bill 2022 to give relief to small tax payers (using settlement scheme) who fail to file tax returns. The amendment provides for extending the period of cancellation of registration up to three months after the end of respective financial year.

Chief minister Yogi Adityanath presided over the meeting of state cabinet that approved the draft bill and the state government proposes to get the same passed in the monsoon session of the state legislature scheduled to commence on September 19, 2022.

Minister for finance Suresh Khanna, in a press statement, said through amendment to sections 37 and 39 of the Uttar Pradesh (UP) Goods and Services Tax (GST) Act, the state government proposes to simplify and rationalise provisions for filing details of return and outward supply.

He said the sections 42, 43 and 43 (a) of the Act will be done away with. He said thus procedure had been simplified by doing away with dual information system in Input Tax Credit (ITC) matching and reversal. He said through amendment to section 47 of the Act, the provision for late fee for delay in filing details of inward supply will be scrapped. He said with proposed amendments to the UP GST Act, efforts had been made to simply procedure and make it transparent.

Source from - https://www.hindustantimes.com/cities/lucknow-news/uttar-pradesh-cabinet-approves-amendment-to-up-gst-act-101662488015599.html