The government has notified several changes in the GST law and has also put into effect several amendments brought in vide the Finance Act, 2020. Key changes brought in Goods and Service Tax Rules, 2017 through Notification No. 94/2020-Central Tax dated 22 December 2020 are with regards to the following:
policy updates
Restriction on the utilization of ITC available to the extent of 99% of the outward tax liability [w.e.f 1 January 2021]
Revised procedure for verification at the time of new GST registration
Cancellation/Suspension of GST registration in certain cases
Blocking of GSTR-1 due to non-filing of GSTR-3B
Other amendments
Please refer to the notification here . For further details please reach us here.