Be Alert Taxpayers and Professionals: Finance Bill 2021 is now Finance Act 2021. Be Aware of One of this Section of CGST Act

The Finance Bill, 2021 has received president’s assent and is now, it is Finance Act, 2021.

Through this act, the government has notified section 16(2)(aa) of the CGST Act which says that ITC not reflecting in GSTR-2A will become ineligible to claim.

So be aware of this provision and reconcile accordingly.