Important Judgment, Ruling of the week
• Provisional attachment of bank account ‘patently illegal’ if search proceedings concluded
• Wellness facilities provided by ‘naturopathy centre’ not exempted from GST, says Gujarat AAR Important Circular, Instruction, etc.
• Chief Commissioner of State, AP issued an SOP to be followed by Officers for conducting Inspections, Search & Seizure under GST
• CBIC issues Instructions to Recover Interest on Net Cash Tax Liability w.e.f. July 01, 2017
• DGFT inserts Policy Condition in Chapter 85 and Chapter 94 of ITC (HS), 2017, Schedule – I (Import Policy)
• DGFT provides for streamlining of Unit Quantity Codes (UQCs) in DGFT’s EDI system and Customs ICEGATE
Important Press Releases of the week
• PIB issued statistics of India’s Foreign Trade for the month of August 2020
• Implementation of the Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 w.e.f September 21, 2020
• Progress so far in Implementation of Aatma Nirbhar Bharat Package
• Enterprises with over Rs 500 crore turnover required to onboard TReDS platform to improve cash flow to MSMEs
• Ministry of MSME re-activates the micro-industrialization process in rural India
Important Updates of the week
• GSTN issued advisory on using Matching Offline Tool to compare ITC auto drafted in Form GSTR-2B with Purchase Register
• GSTN issued FAQs and User Manual on Matching Offline Tool of Form GSTR-2B
• GSTN Advisory: Delinking of Credit Note/Debit Note from invoice, while reporting them in Form GSTR1/GSTR-6 or filing refund
Videos of the week
• E-Invoicing: How it will impact your business processes || CA Bimal Jain
• Govt. clarifies interest to be charged on Net Tax Liability w.e.f. July 1, 2017 || CA Bimal Jain
Source: a2ztaxcorp.com
