Cabinet of Uttar Pradesh approves amendments to UP GST Act

The Uttar Pradesh cabinet adopted the draft of the Uttar Pradesh Goods and Services Tax (Amendment) Bill 2022, which would provide assistance to small tax payers (using the settlement system) who do not file tax returns. The change extends the term for cancellation of registration to three months following the conclusion of the corresponding fiscal year.

The draft measure was accepted at a meeting of the state cabinet presided over by the chief minister, Yogi Adityanath, and the state administration intends to get it enacted during the September 19 monsoon session of the state legislature.

Minister for finance Suresh Khanna stated in a press release that the state government intends to change sections 37 and 39 of the Uttar Pradesh (UP) Goods and Services Tax (GST) Act to simplify and rationalise rules for submitting return and outbound supply data.

He stated that the Act’s provisions 42, 43, and 43(a) will be repealed. He stated that the matching and reversal of Input Tax Credit (ITC) had been simplified by doing away with the dual information system. He stated that by a modification to Section 47 of the Act, the provision for late reporting fees for information of incoming supplies will be eliminated. He stated that with the proposed revisions to the UP GST Act, efforts had been taken to simplify and increase the transparency of procedures.

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