Daily Updates

Extended Due Dates for Income Tax Compliances

In view of launch of new efiling portal by Income Tax on 7th June 21, the existing portal www.incometaxindiaefiling.gov.in will not be available on 1st June 21 to 6th June 21.

DGFT has introduced online e-EPCG Committee Module for applications seeking relaxation in Policy/ Procedure on grounds of genuine hardship and adverse impact on trade under Para 2.58 of FTP.

Amendments in CGST Rules, 2017 : Time limit for application for Revocation of cancellation of Registration can be made within 30 days from cancellation order or extended period by Addl / Joint Commissioner / Commissioner [Rule 23(1)] and Form REG-21 aligned thereof. The time period from date of date of Filing Refund claim (RFD01) till …

Amendments in CGST Rules, 2017.(19.05.2021) Read More »

Standard Operating Procedure (SOP) for implementation of the provision of extension of time limit to apply for revocation of cancellation of registration.

Procedure Clarified under IGCRD: 100% Job Work for Manufacturing except sensitive items is allowed Clearance of Imported CG is allowed on payment of duty on Depreciated Value Number of Items have been included in recent Budget Procedure to be importer clarified Intimation Copy to be uploaded on e-Sanchit and link to be given on documents …

Procedure Clarified under IGCRD.(19.05.2021) Read More »

Institute of Company Secretary has extended the ICSI eCSin Amnesty Scheme,2021 till 31st May, 21.

Institute of Company Secretary has extended the Amnesty Scheme for UDIN from 15th May 21 to 31st May 21.

Directorate of Income Tax has finalised the Norms for Assessment under Computer Assisted Scrutiny Selection for AY 19-20.

Employee Provident Fund Organisation(EFPO) has extended the maximum limit from Rs. 6 lakhs to Rs. 7 lakhs under Employee Deposit Linked Insurance Scheme.

ITC refund for technical glitches in GSTN software should be allowed – Tvl. Mehar Tex Vs Commissioner of Central GST And Central Excise (Madras High Court).

Import policy for Tur /Pigeon Peas; Moong  and Urad is revised from ‘Restricted’ to ‘Free’ with immediate effect and for the period up to 31st October 2021.

Directorate General of Trade Remedies initiates  Anti-Dumping Investigation concerning imports of ―SOLAR CELLS WHETHER OR NOT ASSEMBLED INTO MODULES OR PANELS originating in or exported from China PR, Thailand and Vietnam.

CBDT notifies CDC Group Plc. and Ministry of Economy and Finance of Republic of Korea as specified person under Sovereign Wealth Fund category under Explanation 1 to 10(23FE)(vi)(b) for claiming exemption for interest, dividend or long term capital gains on investment made in India.

CBDT notifies investment in OMERS Administration Corporation, ‘Government Employees Superannuation Board, and Public Sector Pension Investment Board’ as specified person under Pension Fund category under Explanation 1 to 10(23FE)(vi)(c) for claiming exemption for interest, dividend or long term capital gains on investment made in India.

Customs has continued the Special Refund and Drawback Disposal Drive from 15.05.21 to 31.05.21.

Opportunity has been provided till 30th June 2021 for Mandatory updation of UDINs in all Income Tax Forms at e-filing portal.

ESIC Contribution for April 2021 can be made till 15th June 2021 instead of 15th May 2021.

DGFT facilitates online Module for issuance/amendment/re-validation of Export Authorisation for restricted items(Non-SCOMET) items from 17-5-2021.

Import policy of Integrated Circuits (lCs) for HS Codes 85423100, 85423900, 85423200, 85429000, and 85423300, of Chapter 85 will now require to obtain Automatic Registration Number from Chip Imports Monitoring System (CHIMS) prior to import.