GST: Implementation of Rule-59(6), as amended on GST Portal. From 1st January 2022 onwards, if a monthly filer has not filed the GSTR-3B for the preceding month, then such taxpayer will not be allowed to file the GSTR-1 for the subsequent month, till the GSTR-3B for the preceding month is filed. (Press Release No. 515 …
GST : Implementation of Rule-59(6), as amended on GST Portal. (04.01.2022) Read More »
GST: CGST Rate on Footwear Increased to 12% w.e.f. 01.01.2022 for Footwear of sale value not exceeding Rs. 1,000/- per pair to 12% (6%SGST +6% CGST) (Notification No. 21/2021-Central Tax (Rate) dated 31st December, 2021)
GST: IGST Rate on Footwear Increased to 12% w.e.f. 01.01.2022 for Footwear of sale value not exceeding Rs. 1,000/- per pair to IGST 12 (Notification No. 21/2021- Integrated Tax (Rate) dated 31st December, 2021)
GST: UTGST Rate on Footwear Increased to 12% w.e.f. 01.01.2022 for Footwear of sale value not exceeding Rs. 1,000/- per pair to 12% (6%UTGST +6% CGST) (Notification No. 21/2021-Union Territory Tax (Rate) dated 31st December,2021)
GST: CBIC has amended the Notification related to; UTGST Rate on Services w.e.f. 01.01.2022 ( Notification No. 22/2021-Union Territory Tax (Rate) dated 31st December, 2021) IGST Rate on Services w.e.f. 01.01.2022 ( Notification No. 22/2021- Integrated Tax (Rate) dated 31st December, 2021) CGST Rate on Services w.e.f. 01.01.2022 ( Notification No. 22/2021- Central Tax (Rate) …
GST : CBIC has amended the Notifications ( 03.01.2022) Read More »
Customs : Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver. (Notification No. 107/2120-Customs (N.T.) dated 31st December, 2021)
Customs : Schedule for Drawback on exports of goods has been amended w.e.f. 01.01.2022 (Notification No. 108/2021- Customs (N.T.) dated 31st December,2021)
Customs: CBIC has notified Sea Cargo Manifest and Transhipment (Ninth Amendment) Regulations, 2021. (Notification No. 109/2021- Customs (N.T.) dated 31st December, 2021)
Customs : CBIC has extended the Custom Duty Exemption given earlier on Import of COVID-19 Vaccine up to December 31, 2021 has now been extended till 30th June, 2022 (Notification No. 61/2021-Customs dated 31st December, 2021
Others: Centre notifies rules for Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021. The revised pecuniary jurisdiction for entertaining consumer complaints shall be up to – 1) 50 lakh for District Commissions, 2) More than ₹50 lakh to ₹2 Crore for State Commissions and 3) More than …
RBI: RBI has extended the relaxation for Periodic Updation of KYC till 31.03.2022 ( Circular-RBI/2021-22/144 dated 30.12.2021)
Income Tax: CBDT has amended the guidelines on power of survey under section 133A of Income Tax Act, 1961 (Circular No. F.No. 187/3/2020-ITA-I dated 31.12.2021)
Customs : CBIC has amended the FTA/PTA notification to align with HSN 2022 w.e.f. 1.1.2022 ( Notification No. 60/2021-Customs, Dated: 30.12.2021)
DGFT: Option is given to file manual/physical EODC applications for all such Advance Authorization’s, which have been issued prior to December 1, 2020 (DGFT Trade Notice No. 28/2021-22 dated 31.12.2021).
DGFT: The last date of submitting applications under MEIS, SEIS, ROSCTL, ROSL and 2% additional ad hoc incentive (under para 3.25 of FTP) which was earlier notified to be 31.12.2021 has been extended till 31.01.2022. (DGFT Notification No. 48/2015-20 dated 31.12.2021)
GST : Exemption/ Concessional rate given to few COVID-19 relief items vide Notification No. 12/2021-Central Tax (Rate) dated 30.09.2021 was valid upto 31st December 2021 only, effective from 1st January 2022 Tariff Rates will be applicable to said items.
GST: GST Council meeting held on 31st December 2021 has recommended to defer the decision of change in rates on Textile. Existing GST rates in textile sector to continue beyond 1st January, 2022
Training ‘On Classification Of Goods Under Customs and GST’ by CMA Ashok Nawal, Founder, Bizsolindia Services Pvt. Ltd.
RBI: Clarification that no RBI approval required for acquisition & transfer of immovable property by NRIs & Overseas Citizen of India (OCIs) (Press Release: 2021-2022/1439 dtd. 29.12.2021)
MahaRera: Submission of certificates to schedule bank operating separate account by promotors irrespective whether such real estate project is a new project or an ongoing project till the occupancy certificate/completion certificate (Circular No. 39/2021 dtd. 28.12.2021)
