Important Judgment, Rulings of the week
• Delhi High Court: Upheld the power to conduct Service Tax Audit post GST regime
• NAA: Tata Croma told to slash prices of DSLRs, power banks; fined Rs 1.9 cr for GST-related profiteering
• NAA: Starbucks fined for not passing on GST cut benefits
Important Circulars of the week
• CBIC issued Circular for Scheme for Rebate of State Levies (ROSL)
• CBIC issued Policy and Guidelines for setting up of Inland Container Depots (ICDs), Container Freight Stations (CFSs) and Air Freight Stations (AFSs)
• Maharashtra AAR issued guidelines for online e-hearing
Important Press Releases of the week
• GST collection in the month of October, 2020 is ₹1,05,155 crore
• GST: More than 495 Lakh e-invoices generated on the NIC portal within a month of introduction
• Central Government released Rs 6,000 cr as second tranche to 16 States and 3 Union Territories on account of GST compensation under Special Borrowing Window
• Rajasthan decides to go for Option-1 to meet the GST implementation shortfall
• Government extends Emergency Credit Line Guarantee Scheme till November 30, 2020
• Ministry of MSME launches special drives for increasing Udyam Registration
• PIB issued statistics of India’s Merchandise Trade Preliminary data for the month of October, 2020
• Factual position in respect to Service Charges levied by banks
Important Updates of the week
• GSTN issued comprehensive guide for taxpayers on common errors and suggested solutions
• A list of GSTINs has been issued by NIC for whom e-invoicing is mandatory
• Compliance Calendar for the month of November, 2020
Video of the week
• When arrest can be done in GST for Non-Bailable Offences || CA Bimal Jain
Source: a2ztaxcorp.com
