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A2ZTaxCorp’s Weekly GST Communique dated November 23, 2020

Important Judgments of the week
• ITC disallowance to buyer for seller’s default to pay taxes ‘unsustainable’
• Commissioner can authorize ‘arrest’ prior to completion of adjudication/assessment

Important Circular of the week
• CBIC issued clarifications regarding availment of exemption on temporary import of durable containers

Important Press Releases of the week
• Telangana decides to go for Option-1 to meet the GST implementation shortfall
• One held for fraudulently passing Input Tax Credit of Rs 13.08 crore by DGGI Rohtak
• Inter state fake invoice racket busted by DGGI involving fraudulent ITC of Rs. 26.09 Crore
• Arrest of a prominent builder in a case of availment of fraudulent Input Tax Credit of Rs. 4.86 Crore on fake invoices
• DGGI arrested Proprietor of Trading Firm for availment of ITC of Rs. 3.51 Crore on fake invoices

Important Updates of the week
• E-way bill generation facility to be blocked for all taxpayers who failed to file GSTR-3B/GST CMP-08 for two or more tax periods; effective from Dec 01, 2020
• GSTN issued FAQs on viewing Orders of Unblocking of E-Way Bill Generation Facility
• GSTN issued updates regarding mandatory e-invoicing for taxpayers with aggregate turnover exceeding Rs. 100 crore effective from January 01, 2021
• 15th Finance Commission submitted report for FY 2020-21 highlighting implementation challenges
• GSTN: Salient features of Quarterly Return filing & Monthly Payment of Taxes (QRMP) Scheme

Video of the week
• A Glance of GST Exports Course by CA Bimal Jain

Source: a2ztaxcorp.com

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