Daily Updates

GST: Recovery interest on net cash tax liability w.e.f. 01.07.2017: CBIC  F.No. CBEC- 20/01/08/2019-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing Room No. 159A, North Block, New Delhi, Dated: 18th September, 2020 To, The Principal Chief Commissioners/Chief Commissioners/Principal Commissioners/ Commissioners of Central Tax …

GST: Recovery interest on net cash tax liability w.e.f. 01.07.2017: CBIC F. No. CBEC- 20/01/08/2019-GST (21.09.2020) Read More »

De-linking of Credit & Debit Notes have been implemented on GST portal / production API by GSTN. Going forward ,references to original invoices would not be required to be furnished for credit / debit notes.  

Relaxation of additional fees and extension of last date of filing CRA -04 for FY 2019-20

Extension of time for holding Annual General Meeting 

Custom appeals officers Jurisdiction for bill of entry or Goods warehousing-Reg.

Undertaking Valuation Assignment in CIRP before Registering as valuer violates Model Code of Conduct

Valuers registered with IBBI under MCA Rules can only be appointed as IP

The Central Board of Indirect Taxes and Customs has decided to roll out the faceless assessment at an all India level in all ports of import and for all imported goods by Oct 31.This includes faceless or anonymized assessment, self-registration of goods by importers, automated clearances of bills of entry, digitization of Customs documents.  

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