Ø No Change in Annual Return Possible
Ø No GST on gift to employees value less than 50,000
Ø No Input credit on any tax demand paid u/s 73 , 74, 129 & 130
Ø Only E Notices being served and reply require to make within 15 days.
Ø In case of related party transactions, where the price made to next party is known, the valuation between related party is 90% value of known price
Ø Reimbursement of expenses subject to GST
Ø Disallow portion of input credit in case same being used for exempt items, nil rated, liquor & petroleum, securities& interest, land & sale of building
Ø For banks , 50% of the input being disallowed.
Ø No input on construction or extension of immovable property.
Ø No input credit on goods lost, destroyed, gift, free sample, write off
Ø For Donation - reduce the cost by 5% per quarter of capital goods.