Daily Updates

CBIC is regularly twitting and appealing to file GSTR-9 & GSTR-9C for FY 2019-20 by February 28, 2021.

Advisory on Annual Return (GSTR-9) is issued so as to Report upto two decimal places in GSTR-9 offline utility.

CBIC has clarified Applicability of Dynamic QR Code on B2C invoices & compliances in the matter of exports and parameters for / details are required to be captured in the Quick Response (QR) Code, generation and printing of dynamic QR Code from B2C invoices and other related details. [Circular no. 146/02/2021-GST dtd. 23rd February, 2021]

GSTN now enables the option to download GSTR-2B summary and 2B in detail.

Denial of IGST refund for availing Drawback: HC directs Commissioner to dispose IGST refund claim. [Case Law Asian Organo Industries Vs Principal Commissoner of Customs (High Court Gujarat)]

Guidelines for setting up of ICDs, CFSs & AFSs-Reg [Circular No. 06/2021-Customs dtd 22nd Feb 2021]

CBIC clarifies Payment of AIDC by EOU Under Various Situations. [Circular No. 07/2021-Customs dtd.  22 February, 2021]

Govt declares 5.81% interest on deposits under Senior Citizens Welfare Fund for 2020-21

Physical hearing by NCLT Benches w.e.f. 01.03.2021

CBDT notifies class of person to whom Aadhar authentication not applies. [Notification No. 03/2021-Central Tax dtd.  23rd February, 2021]

Section 271D Penalty Not Valid If Assessee Bonafidely explains Reasonable Cause. [Case Law Bapujibuwa Nagari Sahakari Pat Sanstha Maryadit VS JCIT (ITAT Pune)]

Govt imposes definitive anti-dumping duty on imports of Aniline from China. (Notification No. 08/2021 -Customs (ADD) dtd. 19th Feb 2021)

DGFT proposes to issue online CoO (NP) w.e.f. 01.04.2021( tentative date); wherein the online applications for CoO (NP) will be processed as per provisions of Para 2.108 of Handbook of Procedure based on the declaration of the exporter to the issuing agency, without any scrutiny of documents. However, uploaded documents like invoices etc. as prescribed …

DGFT proposes to issue online CoO (NP) w.e.f. 01.04.2021 (22.02.2021) Read More »

Summon can be issued by GST Authorities to give evidence & produce documents. [Bombay High Court Judgement in the case of Jsk Marketing Limited & Anr Vs Union of India & Ors)]

Facility for resolving invoice mis-match errors with officer interface as an alternative measure for the specified period which was further extended, several times, based on representations received from Trade regarding continuance of such error. [Circular No. 05 /2021-Customs dtd. 17th February, 2021]  

Customs Post Clearance Audit (PCA) work has been streamlined for premises based audit for AEO holders of T1, T2 & T3 as well as Transactional Based Audit (TBA) and  Theme Based Audit (ThBA) [Instruction No. 02/2021- Customs dtd. 16th February, 2021]

CBDT amends Faceless Assessment Scheme, 2019 vide Faceless Assessment (1st Amendment) Scheme, 2021 and specified the procedure for Assessment under Faceless Assessment Scheme, 2019. [Notification No. 6/2021-Income Tax dtd. 17th February, 2021.]  

Henceforth Custom department will collect fees of Rs. 1000/- for Handling of mismatch between Shipping Bill and GST returns in Customs Automated System [Notification No. 17/2021-Customs (N.T.) dtd. 17th February, 2021]

Extension of Board’s Circular No. 12/2018-Customs dated 29.05.2018 for sanction of pending IGST refund claims where the records have not been transmitted to ICEGATE due to GSTR-1 and GSTR- 3B mismatch error. in order to overcome the problems faced by the exporters. CBIC has decided that the solution provided in the Circular 12/2018-Customs read with …

Extension of Board’s Circular No. 12/2018-Customs dated 29.05.2018 for sanction of pending IGST refund claims where the records have not been transmitted to ICEGATE due to GSTR-1 and GSTR- 3B mismatch error.(18.02.2021) Read More »

SVLDRS, 2019 benefit cannot be rejected for difference & amount admitted & Quantified [ Sabareesh Pallikere Vs Jurisdictional Designated Committee (Bombay High Court)]