Home Odisha Odisha Cabinet Approves OGST Amendment Bill

Odisha Cabinet Approves OGST Amendment Bill

69
0
Odisha -Cabinet -Approves -OGST -Amendment- Bill
67 / 100 SEO Score

Ahead of monsoon session in Assembly,  state cabinet Tuesday approved OGST Amendment Bill on four proposals including amendment of Odisha Goods and Services Tax (OGST) Act-2017.

The meeting chaired by CM Naveen Patnaik, held through video conference, cleared  proposal for introduction of the OGST(Amendment) Bill, 2020 and replacement of two ordinances.

As State Assembly is all set to meet for the monsoon session from September 29, the Cabinet has approved the bill for introduction in the house. 

The amendment in the OGST Act triggers at providing some facilities to the taxpayers and tax authorities.

The suggestions include empowering the state government to make provision to issue resolving difficulties order for another two years, and inserting a new section .

 This would extend due dates for various compliances on recommendation of the GST council during war, epidemic, flood, drought, fire, cyclone and natural disasters.

The amendment would also stood beneficiary for the transactions of passing availing fraudulent Input Tax Credit liable for penalty similar to the penalty leviable on the person who commits such specified offences.

The punishment to a person who commits the offence of fraudulent Input Tax Credit has been extended and made a cognizable and non-bailable offence.  

The bill also empowers the government to make provision for issuance of removing difficulties order for another two years, i.e. till five years from the date of commencement of the OGST Act,2017.

The panel decided to amend the Odisha Local Fund Audit Act, 1948, as difficulties were faced while physically serving surcharge notices and orders on delinquent officers in time.

It also approves a proposal for construction of a bridge over river Subarnarekha near Haldipada on National Highway-16 at a cost of Rs 138.74 crore, where the work is targeted for completion within a period of 30 months.

The cabinet gave a formal approval for commencement of the monsoon session of Assembly which will start on 29 September and would resume untill October 7.

Written By- Mousami Jena
Image courtsey- Google

How useful was this post?

Click on a star to rate it!

Average rating 5 / 5. Vote count: 1

No votes so far! Be the first to rate this post.

LEAVE A REPLY

Please enter your comment!
Please enter your name here