GST Updates GSTN has prepared a consolidated document on authorized B2B e-Invoice verification apps available for download. The said document would serve as a reference to ensure that taxpayers have the most up-to-date information regarding approved B2B e-Invoice verification apps. [GST Advisory dated 27th November 2024]
DGFT Updates Directorate General of Foreign Trade (DGFT) implements amendments to the Indian Trade Classification (Harmonized System) 2022 (ITC HS) Schedule-I, aligning import policies with the Finance Act, 2024. The updates include changes to specific codes, descriptions, and policy conditions for various goods, including natural menthol, aviation turbine fuel, ballistic protection items, and certain machinery …
GST Advisory It has been reported by few taxpayers that their GSTR-2B for October-2024 period has not been generated on 14th November 2024. In this regard it to be informed that as per the design of IMS, GSTR-2B will not be generated by the system in below scenarios: i. In case the taxpayer has opted …
GST Advisory It has been reported by few taxpayers that their GSTR-2B for October-2024 period has not been generated on 14th November 2024. In this regard it to be informed that as per the design of IMS, GSTR-2B will not be generated by the system in below scenarios: In case the taxpayer has opted for …
In GST regime, more than 1.47 Crore businesses in India have been registered and issued GST registration. All entities having GST registration are required to file GST annual return having aggregate total turnover more than 2 Crores, except for few exceptions, irrespective of business activity or sales or profitability during the return filing period. GSTR …
Bizsol Update for the month November 2024 Article on ‘PASSIVE AGGRESSION: THE SILENT SABOTEUR How Employees Unwittingly Work Against Themselves and Their Organisations’ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt Ltd. Article on ‘GST Annual Return & Reconciliation Statement – GSTR-9 & 9C’ by CS Anita Patil, Sr. Advisor, Bizsolindia Services Pvt Ltd …
Wish You All A Happy Diwali Prosperous New Year. The statue of Lady Justice, often found outside courthouses and law libraries in India represents the core principles of justice – fairness, impartiality and moral integrity. Lady Justice is typically depicted as a blindfolded woman holding scales in one hand and a sword in the other, …
What is Passive Aggression? It is no secret that one of the most challenging tasks for an organisation is in managing its employees. It is not because the employees are by nature recalcitrant or non-cooperative. It is because of those who are tasked with the job of training and motivating the employees are always found …
Central Excise The CBIC has issued a notification which amends supplementary notes under chapter 27 regarding mineral products, specifically defining “Blended Aviation Turbine Fuel” as containing 70% or more petroleum oils blended with synthesized hydrocarbons. It introduces a new tariff item (2710 19 33) for this fuel, with a duty rate of 14%. [Notification No. …
GSTN has introduced an update to facilitate the registration compliance for buyers of metal scrap through form GST REG-07. This update follows the new GST provisions for metal scrap buyers as outlined in the advisory issued on October 13. [GST Portal Advisory dated 22.10.2024]
GST GSTN has implemented a validation process for cases where a taxpayer attempts a non-core amendment to update bank account details. [GST Portal Advisory dated 22.10.2024]
The Directorate General of Foreign Trade (DGFT) has issued a public notice to notify procedure for filing of Annual RoDTEP Return (ARR) by exporters (IECs) whose total RoDTEP claims exceeds Rs. 1 crore in a financial year across all 8-digit HS codes. The ARR of particular financial year shall be filed on DGFT portal by …
The Directorate General of Foreign Trade (DGFT) has issued a notification to lift the requirement of Minimum Export Price (MEP) for the export of Non-Basmati White Rice under HS Code 1006 30 90 with immediate effect. [Notification No. 37/2024-25 dated 23.20.2024]
DGFT The Directorate General of Foreign Trade (DGFT) has issued a notification to provide for additional policy conditions for Exports of Sesame Seeds to United States of America (USA). The additional conditions are as follows: India Oilseeds & Produce Export Promotion Council (IOPEPC) is designated as competent authority to issue export certification. The IOPEPC shall …
The Central Board of Indirect Taxes (CBIC) has issued a notification to direct that no customs duty is required for the import of “Simply Sawn Diamonds” under tariff items 7102 21 and 7102 3100 during the period from July 1, 2017, to February 1, 2022. [Notification No. 70/2024-Customs (NT) dated 23.10.2024]
Customs The Central Board of Indirect Taxes (CBIC) has issued a notification to amend the tariff values of palm oil, soya bean oil, brass scrap, gold, silver, and areca nuts. [Notification No. 69/2024-Customs (NT) dated 23.10.2024]
The CBIC has issued instruction which provides for the issuance of Equipment Type Approval (ETA) for License-Exempt Wireless Equipment Devices. [Instruction No. 24/2024- Customs dated 22.10.2024]
The CBIC has issued notification to impose Anti-Dumping Duty on Isopropyl Alcohol imported from China PR for 5 years, pursuant to final findings of DGTR. [Notification No. 22/2024-Customs (ADD) dated 22.10.2024]
The CBIC has issued notification to impose Anti-Dumping Duty on Sulphur Black imported from China PR for 5 years pursuant to final findings of DGTR. [Notification No. 21/2024-Customs (ADD) dated 22.10.2024]
The CBIC has issued notification to impose Anti-Dumping Duty on Cellophane Transparent Film imported from China PR for 5 years pursuant to final findings of DGTR. [Notification No. 20/2024-Customs (ADD) dated 22.10.2024]
