The Government of Delhi through gazette notification dated 30th July, 2021 has issued the the Delhi Goods and Services Tax (Amendment) Bill, 2021. The amendment is introduced with a view to make a provision for levy and collection of tax on intra-State supply of goods or services or both by the Government of National Capital Territory of Delhi.
The following are the major objectives of the bill:
- To ensure levy of tax on activities or transactions involving supply of goods or services by any person, other than an individual, to its members or constituents or vice-versa, for cash, deferred payment or other valuable consideration.
- To provide that input tax credit on invoice or debit note may be availed only when the details of such invoice or debit note has been furnished by the supplier in the statement of outward supplies and such details have been communicated to the recipient of such invoice or debit note.
- To remove the mandatory requirement of getting annual accounts audited and the reconciliation statement submitted by specified professional.
- To remove the mandatory requirement of furnishing a reconciliation statement duly audited by specified professional and to provide for filing of the annual return on self-certification basis.
- To charge interest on net cash liability retrospectively with effect from the 1st July, 2017.
