Important Judgment, Rulings of the week
• Gujarat HC: Directed Revenue to unblock ex-Director’s ITC to recover Company’s VAT dues
• CGST+SGST would be levied on intermediary services provided to foreign principal
• No advance ruling on eligibility of ITC w.r.t promotional schemes due to Member’s divergent opinion
• Bombay HC: Stayed the Service Tax demand notice issued to CA based on ITR
Important Press Release of the week
• 13th Instalment of Rs. 6,000 crore released to the States to meet the GST compensation shortfall
Important Updates of the week
• A list of GSTINs has been issued by NIC for whom e-invoicing is mandatory
• GSTN issued module wise new functionalities deployed on the GST Portal for taxpayers
• Budget 2021-22: Filing of Bills of Entry would not be available from 20:00 hours of February 01, 2021 till updation of all changes in ICES
Economic Survey 2020-21
• Summary of Economic Survey-2020-21
• Key Highlights of Economic Survey 2020-21
Source: a2ztaxcorp.com
