Daily Updates

The Government of Maharashtra has issued the notification under the MAHARASHTRA ELECTRICITY DUTY ACT, 2016 for fix the electricity duty shall be levied @ 7.50 percent of the consumption charges  with effect from the billing month of August, 2020 for Industry. Existing rate is 9.30 %. Notification  

Maharashtra Govt.has decided to temporarily reduce stamp duty on Flats…

DGFT Vide Notification No: 29 dated 25.08.2020 has removed restriction on export of PPE  Medical Coveralls & 2/3 ply surgical Masks & allowed export of N-95 and equivalent masks under monthly quote.

Clarification on Extension of Annual General Meeting (AGM) for the FY ended on 31.3.2020 General Circular No. 28/2020    

Revised guidelines for conduct of personal hearings in virtual mode under CGST Act, 2017, IGST Act, 2017, Cusdtoms Act , 1962 , Central Excise Act, 1944 and Chapter V of Finance Act , 1994 and Chapter V of Finance Act 1994 F.No. 390/Misc./3/2019-JC  

E-INVOICE SANDBOX SYSTEM – (Testing tool for development of e-Invoice APIs) E-Invoice Sandbox System https://einv-apisandbox.nic.in provides the essential information for developers to integrate the e-Invoicing operations exposed by NIC-IRP through APIs with their respective ERPs and financial accounting systems. The home page is accessible from anywhere without any login and provides complete information on the …

E-INVOICE SANDBOX SYSTEM (17.8.2020) Read More »

Procedure of QR code in E-Invoice System

As per the GST Council direction, National Informatics Centre (NIC) has built the e-invoice system as per the latest e-invoice (IRN) schema published on the GSTN portal. As per the notification of GST (Notfn No. 61 dtd: 30th July, 2020), this system has been enabled for the taxpayers with PAN based turnover more than Rs …

As per GST Council direction, NIC has built the e-invoice system (17.8.2020) Read More »

Three new Members namely Shri. Ajay Jain, Shri. Vivek Johri and Ms. Sungita Sharma  joins CBIC. Heartiest Congratulations from Team Bizsol.!!

Amendment in Export Policy of Basmati & Non-Basmati Rice which has been made free for specified countries

No Advance Authorisations will be granted, if Gold jewellery/articles manufactured by fully mechanised process

Revised procedure for Import of Pets / Live Animals has been specified for ease of doing business

GST Portal capacity has been increased to 3 lakh users from 1.5 lakh users.

E-invoicing schema notified (INV-01). CBIC has issued two notifications on 30.07.2020. Notification No. 60/2020 and 61/2020 Central Tax. e-invoice for assessee’s having turnover above 500 crore to be applicable from October 1 and SEZ units are excluded from e-invoicing.

SEBI extends Takeover and Buy-back Relaxations

7.1% Interest on PF deposit WEF 01.07.2020 to 30.09.2020

ICAI to provide Medical Financial Assistance to Members & their dependents suffering from CORONA