Introduction of trial version of Form GSTR-2B for indicating ITC available to taxpayers In 39th GST Council meeting held on March 14, 2020, GST Council recommended linking data available in GSTN viz. linking outward supply data in Form GSTR-1 and Form GSTR-3B and...
Introduction of rules for administration of preferential duty claims The Finance Act, 2020 introduced Section 28DA of the Customs Act, 1962 (‘Customs Act’) for Administration of Rules of Origin Under Trade Agreements. This provision contains measures for monitoring...
Interest on net tax liability –Section 50 amendment notified prospectively We apprised you on our take on levy of interest on delayed payment of GST on gross vs. net liability. This email intends to update you on latest developments on the issue. Brief Background...
CBIC makes virtual hearings mandatory before Appellate Authorities, Adjudicating Authorities and Compounding Authorities The CBIC vide Instruction dated April 27, 2020 (‘Instruction 1’) initiated virtual hearings before Appellate Authorities and Adjudicating...
Additional FAQs on E-Invoicing Recently, the National Informatics Centre has issued Frequently Asked Questions (‘FAQs’) dated August 5, 2020 on E-Invoicing. We have herein covered the noteworthy points as follows: Applicability of E-Invoicing requirement ...
Extension of virtual hearings to Chennai bench of CESTAT This is in furtherance to our earlier updates regarding Customs, Excise & Service Tax Appellate Tribunal (‘CESTAT’) initiating virtual hearings at all regional benches except Chennai bench. The CESTAT has...
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