In its bid to further simplify the procedure for tax payment and punish fraudulent input tax credit, Odisha Government today decided to introduce a Bill in the upcoming session of the State Legislative Assembly.
The decision in this regard was taken at the Cabinet meeting chaired by Chief Minister Naveen Patnaik.
Chief Secretary Asit Tripathy briefed Media after the Cabinet Meeting along with Principal Secretaries of the respective departments.
A proposal of the Finance Department was approved by the Cabinet to amend the Odisha Goods and Services Tax (OGST) Bill, 2017 and also replace Odisha Goods and Services Tax (Amendment) Ordinance, 2020 and Odisha Goods and Services Tax (Second Amendment) Ordinance, 2020.
There is a proposal to amend the OGST Act which will extend the scope of ineligibility to opt for composition scheme, to delink the date of issuance of debit note from the date of issuance of the underlying invoice for the purpose of availing input tax credit.
This will also empower proper officer to allow cancellation of registration of the registered tax-payers who have voluntarily obtained registration under Section 25 (3) of the said Act,
The proposed Bill will also grant the power to the Additional or Joint Commissioner to extend the time limit by further 30 days to file an application for revocation of cancellation of registration subject to sufficient cause being shown
This also aims to empower the government to specify the categories of services or supplies in respect of which a tax invoice shall be issued along with time and manner for issuance of such invoice, provide a certificate of TDS issued by the deductor of tax.
In order to make the beneficiary of the transactions of passing on or availing fraudulent Input Tax Credit liable for penalty similar to the penalty leviable on the person who commits such specified offences.
The new law will extend punishment to a person who causes to commit the offence of availing fraudulent Input Tax Credit and also to a person who retains benefit thereto making such offences a cognizable and non-bailable offence
This will also empower the government to prescribe the manner and time limit for ‘taking transitional credit.
This will also empower the government to make provision for issuance of removal of difficulties order for another two years, i.e. till five years from the date of commencement of the OGST Act, 2017.
“The new legislation will insert a new section 168A to extend due dates for various compliances on the recommendation of GST council during the war, epidemic, flood, drought, fire, cyclone and natural calamities,” said Principal Secretary Finance Ashok Kumar Meena.
The Cabinet also approved a proposal of works department for construction of a high level bridge over river Subarnarekha on NH 16 to West Bengal via Baliapal, Pantei and Chandaneswar in Balasore district .
The proposed bridge is 993.12 meter in long and 62.07 meter wide connecting Jamkunda under Baliapal block to Adangapatnei under Bhograi block .
The bridge will boost tourism, business and communication channel for the people of Balasore district, said Secretary Works Krishan Kumar.
The cost of expenditure on construction of the bridge is estimated to be Rs 138.74 crore. The work is targeted for completion within a period of 30 months, Dr.Kumar said.