Assam Cabinet Approves Key Amendments to GST Act for Simplified Tax Compliance

Guwahati: In a significant step toward revenue enhancement and ease of doing business, the Assam Cabinet has approved the Assam Goods and Services Tax (Amendment) Ordinance, 2024. The decision aims to update the Assam GST Act, 2017, by incorporating necessary modifications aligned with changes introduced in the Central Goods and Services Tax Act, 2017.

The amendments are designed to facilitate taxpayers and simplify compliance. Key changes include:

1. Relaxation in Input Tax Credit (ITC) Timelines:

Taxpayers will now have additional time to claim ITC for financial years 2017-18, 2018-19, 2019-20, and 2020-21. Under section 16(4), the registered person must file claims in any return (GSTR-3B) under section 39 by November 30, 2024.

2. Conditional Waiver of Interest and Penalty:

A new provision has been introduced to conditionally waive interest and penalties for demand notices under section 73 of the Assam GST Act. This applies to financial years 2017-18, 2018-19, and 2019-20, barring cases of erroneous refund claims.

These measures aim to bring the state’s GST framework in line with national standards while promoting a taxpayer-friendly environment.

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