Issuance of single Credit / Debit Note against one or more tax invoices This is to apprise you regarding recent updation on GST portal for delinking of Credit / Debit Note with original tax invoice. Resultantly, taxpayers can now issue single Credit / Debit Note for...
CBIC instructs field formations to recover interest on net (cash) GST liability We apprised you regarding amendment made under Section 50 of the Central Goods & Services Tax Act, 2017 (‘CGST Act’) for recovery of interest only on net (cash) GST liability. The...
New format for bill of entry in compliance with CAROTAR 2020 We shared our detailed update on Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (‘CAROTAR 2020’) which comes into effect from September 21, 2020. In this, we updated you...
Fate of export incentive schemes –SEIS, MEIS and RoDTEP In the past, the Government had been focusing on export promotion to improve foreign trade. To foster the same, Ministry of Commerce and Industry introduces Foreign Trade Policy (‘FTP’) every five years. The...
Additional FAQs on E-Invoicing Frequently Asked Questions (‘FAQs) dated August 5, 2020 released by the National Informatics Centre on E-Invoicing. Recently, new FAQs dated September 7, 2020 have been released on E-Invoicing. Some noteworthy points are as follows: In...
SOP for GST officers to be followed during investigation and audit The Central Board of Indirect Taxes and Customs (‘CBIC’) has issued GST Ready Reckoner on August 1, 2020. This document captures roles, responsibilities and duties of GST officers like Superintendents,...
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