The Finance Bill, 2022 has proposed the Cancellation of GSTN of composition supplier not filing return beyond 3 months.
Clause (b) and (c) of sub-section (2) of section 29 of the CGST Act are being amended so as to provide that the registration of a person is liable for cancellation, where a person paying tax under section 10 has not furnished the return for a financial year beyond three months from the due date of furnishing of the said return; and a person, other than those paying tax under section 10, has not furnished returns for such continuous tax period as may be prescribed.
In section 29 of the Central Goods and Services Tax Act, in sub-section (2), in clause (b), for the words “returns for three consecutive tax periods”, the words “the return for a financial year beyond three months from the due date of furnishing the said return” shall be substituted; and in clause (c), for the words “a continuous period of six months”, the words “such continuous tax period as may be prescribed” shall be substituted.
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