A2ZTaxCorp’s Weekly GST Communique dated September 07, 2020

Important Judgment of the week
• No Recovery till the time demand raised in accordance with law after search

Important Notifications, Circular of the week
• CBIC further extends the due date for filing Form GSTR-4 for the F.Y. 2019-20 to Oct 31, 2020
• CBIC extends the time limit for compliance of Anti Profiteering Measures u/s 171 of the CGST Act, till Nov 30, 2020
• CBIC has laid down the Procedure to Roll out of All India Faceless Assessment of Import of Goods by Oct 31, 2020
• DGFT prescribes a limit on MEIS benefits available to exporters on exports made from 01.09.2020 to 31.12.2020
• DGFT allowed one time extension on export authorizations for SCOMET Items

Important Press Releases of the week
• GST collection in the month of August, 2020 is ₹ 86,449 crore
• FM Nirmala Sitharaman reviews status of ECLGS, PCG Scheme 2.0 and sub-odinate Debt Scheme
• Piyush Goyal says country’s exports and imports are showing positive trends
• New portal launched for MSME registration to boost ease of doing business

Important Updates of the week
• Compliance Calendar for the month of September 2020
• GSTN: New functionalities made available for TCS and Composition taxpayers
• GSTN has started generating system computed liability for GSTR-3B, on the basis of GSTR-1 filed by the taxpayers
• GSTN has enabled various options in Form GSTR-2A for the ease of taxpayers like GSTR-1/5 filling date/status & GSTR-3B filing status

Videos of the week
• Intricacies in Place of Supply of Goods and Services in GST || CA Bimal Jain
• Who will Pay GST on Goods Transport Agency (GTA) under RCM || CA Bimal Jain
• When GTA need to take registration and What GST rates can be opted by GTA || CA Bimal Jain

 

Source: a2ztaxcorp.com

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