Finance Bill 2022, will come into effect on the date of its enactment. Additional Condition for availment of ITC u/s 16(2): ITC can be availed only, if the same is reflected in GSTR-2B. This additional condition introduce in budget 2022. Provided that assessee must fulfill the condition of Section 38 of CGST Act, 2017. Amendment on Issue of Debit Note/ Credit Note, GSTR-1/ 3B Return Filing, availment of Input Credit to be 30th November from earlier 30th September of succeeding Financial Year: Time-limit to issue of Debit Note/ Credit Note, rectification in error of GSTR-1/ 3B and availment of Input Credit is now 30 November of succeeding financial year. Earlier this time limit was 30 September of succeeding financial year. This move provides assessee two additional months to avail GST Input Credit and changes made in GSTR-1/ 3B of relevant financial year. Composition dealer registration cancellation dependent on non- filing of GST returns: Section 10 Composition Tax Payer’s Registration can be cancelled suo-moto in Section 29 of CGST Act 2017, if they have not furnished their GSTR-4 return beyond 3 months from the due date of filing of Return. Earlier GST authority takes such type of action, if Tax Payer not furnishes three consecutive GSTR-4. This will bring parity between Composition & Non- Composition Tax Payer in terms of non filig period of GST Return for GST Registration Cancelation. Amendment in Due Date for NR Taxable Person: The due date for filing return by non-resident taxable person is now 13th day of next month in GSTR-5. Earlier this date was 20th day of next month. Amendment in Section 41: Section 41 of the CGST Act is being substituted so as to do away with the concept of “claim” of ITC on a “provisional” basis. Omission of Section 42, 43 & 43A: Sections 42, 43 and 43A of the CGST Act are being omitted so as to do away with two-way communication process in return filing. Late Fee on TCS Return: Section 47 of the CGST Act is being amended, so as to provide for levy of late fee for delayed filing of TCS returns under section 52.   ITC availment on self-assessment basis: