Important Ruling of the Week
• Parotas are not rotis and will attract 18% GST, says authority
Important Notifications, Circulars, etc.
• CBIC issued clarification in respect of Levy of GST on Director’s Remuneration
• CBIC extends the validity of E-Way Bill whose validity expired on or after Mar 20, 2020, till June 30, 2020
• CBIC extends the time period to pass Order under Section 54(7) of CGST Act w.r.t. Refund of Tax under GST
• CBIC further extends the date for transition under GST on account of merger of erstwhile UTs of Daman and Diu & Dadar and Nagar Haveli till July 31, 2020
• CBIC issued clarification on Refund related issues w.r.t. ITC availed on Imports, ISD Invoices & RCM supplies etc.
• DGFT notified the SCOMET updates 2020 by making amendment in Appendix 3 of ITC (HS) Classification of Export & Import Items, 2018
• DGFT amends the export policy of Diagnostic Kits/Laboratory Reagents/Diagnostic Apparatus
• DGFT issued Advisory on fake Email IDs/Websites/Persons claiming to be Government Officer/official responsible for DGFT/GSTN Refunds
Important Press Releases
• CBIC issued Press Release to rolls out the facility of filing of NIL GST Return through SMS
• Finance Minister: COVID Emergency Credit Facility covers all companies and not just MSMEs
• PM Modi : Selling goods, services directly to GoI will benefit MSMEs Important Updates
• CBIC issued Trade Facilitation measures under GST to facilitate taxpayers and ensure continuity of business during COVID-19
• Customs duty hiked on bamboo imported by agarbatti manufacturers
• GSTN has issued FAQ on Filing Nil Form GSTR-3B through SMS
• CBIC twitted by reminding the taxpayers about the last date for payment of dues under SVLDRS is upto June 30, 2020
• Indian Customs safeguarding the Economic Frontiers during COVID-19
Videos of the Week
• GST Applicability on Director’s Remuneration || CA Bimal Jain
• Clarification on Refund of ITC on Exports viz. GSTR-2A, RCM, ISD, Imports, etc. || CA Bimal Jain
40th GST Council Meeting
• Key Outcome of 40th GST Council Meeting w.r.t. Law & Procedure related Changes
• Important Highlights of 40th GST Council Meeting || CA Bimal Jain
Source: a2ztaxcorp.com
