GST: Late fees restricted to Rs.1000/- for non-filing of GSTR-10 if it is filed between 1st April 23 to 30th June 23. [Notification No.08/2003- Central Tax dated 31st Mar 2023]
GST: Late fees restricted to Rs.20,000/- for non-filing of GSTR-9 (Annual Returns) for FY 2017-18 to 2021-22 if it is filed between 1st April 23 to 30th June 23. Late fees revised for FY 2022-23 onwards. [Notification No.07/2003- Central Tax dated 31st Mar 2023]
GST: Special procedure announced for non-filers of returns with provision of withdrawal of assessments. [Notification No.06/2003- Central Tax dated 31st Mar 2023]
GST: Amendment to sub-rule 4B of Rule 8 of CGST Rules effective from 27th Dec 2022, while filing an application for registration in GST REG-01 Biometric based Aadhar Authentication and taking photograph of the applicant with the verification of original documents to be uploaded through one of the notified Facilitation Centres is applicable only to …
GST: Amendments to CGST Rules, 2017 w.e.f. 26th Dec 2022, for Sub-Rule 4A of Rule 8 states about Authentication of Aadhar during registration whereas Biometric based Aadhar Authentication and taking photograph of the applicant amended as a proviso to the said rule, earlier this is not inserted as a proviso to the rule. [Notification No.04/2003- …
GST: Special procedures declared for revocation of cancellation of registration, cancelled on or before 31st Dec 2022: -Those missed to apply, to be applied 30th June 2023 -Revocation to be filed only after filing all returns along with payment of tax up to the effective date of cancellation of registration -No further extension of time …
GST: Amnesty declared for delayed filing of Form GSTR-4 for the quarters from July 2017 to March 2019 for the Financial years from 2019-20 to 2021-22 with restricted late fees of Rs.500/- if said return furnished between the period from the1st day of April 2023 to the 30th day of June, 2023. [Notification No.02/2003- Central …
Judicial Corner: Registrar of Companies, Gujarat imposed penalty on company and its Directors/officer in default of Rs. 8 Lakh for violation of section 12(1) of Companies Act, 2013 as the company did not maintain its registered office of the company at the address mentioned in the Master data of MCA.
DGFT: Transition period for mandatory filing of applications for Non-Preferential Certificate of Origin through the e-CoO Platform has been further extended till 31st December 2023. [Trade Notice No. 27/2022-2023-DGFT Dated: 28th March 2023.]
Income Tax: CBDT notifies Consequences of PAN becoming inoperative under Rule 114AAA. [Circular No. 03 of 2023-Income Tax Dated 28th March, 2023]
Income Tax : Central Board of Direct Taxes (CBDT) has extended the last date to link Permanent Account Number (PAN) with Aadhaar to June 30. [Notification No. 15/2023 Date: 28th March, 2023]
DGFT: Export benefits under RoDTEP extended to 18 textile items. [Notification No: 63 /2015-2020-DGFT | Dated: 25th March, 2023]
GST • With effect from the 1st March, 2023, 5% GST rate has been notified on Rab, when sold in pre- packaged and labelled, and Nil GST, when sold in other than pre- packaged and labelled. [Circular No. 191/03/2023-GST dated 27th March 23.]
High Court of Gujarat held that demand of tax and Penalty was not sustained when e-way bill expired during transit due to truck having remained in non-motorable condition without any intention to evade payment of tax.
DGFT: Import of Urea (Agricultural grade) on Government account is allowed through Indian Potash Limited (IPL). [Notification No. 61/2015-2020-DGFT Dated:22 March 2023]
DGFT: Export of Biofuel from Special Economic Zones (SEZ)/Export Oriented Units (EoUs), are allowed for Fuel as well as Non-Fuel purposes without any restriction when produced using only imported feed stock. [Notification No. 62/2015-2020-DGFT | Dated: 22nd March, 2023]
Customs Recently High Court of Gujarat held that show cause notice cannot be issued beyond period of three years of payment of duty drawback.
GST : Advisory for the taxpayer wishing to register as “One Person Company” in GST. [Press Release No. 574 dated 21st March 2023]
Excise: Govt increases SAED on Diesel to Rs. 1 per litre wef 21.03.2023. [Notification No. 14/2023-Central Excise | Dated: 20th March, 2023] Govt reduces SAED to Rs. 3500 per tonn on production of Petroleum Crude wef 21.03.2023. [Notification No. 13/2023-Central Excise | Dated: 20th March, 2023]
Customs Vadodara airport has been added as Customs Airport for Unloading of baggage and loading of baggage purpose. [Notification No. 16/2023-Customs (N.T.) | Dated : 18th March, 2023]
