Important Judgments, Rulings of the week
• Order cancelling GST registration quashed by HC for being passed without issuing Show Cause Notice
• No Service tax on secondment of employees by group companies as employer-employee relationship exists
• No ITC on Demo vehicles purchased even though in the course of business
• No ITC on canteen services and business promotion expenses incurred by the company
• Booking/selling plots during development of township amounts to ‘sale of land’; but services of development of land taxable @ 18%
Important Notification, Circular, etc.
• DGFT amended IEC related provisions under Foreign Trade Policy, 2015-2020
• CBIC issued SOP for implementation of the provision of suspension of registrations under sub-rule (2A) of rule 21A of CGST Rules, 2017
• CBIC issued instructions regarding procedures to be followed during Search Operation
Important Press Releases of the week
• 15th Instalment of Rs. 6,000 crore released to the States to meet the GST compensation shortfall
• Various steps taken by Government to ameliorate impact of COVID-19 pandemic on Indian economy
• Various steps taken by the Government to boost export of Textiles and Apparels
• A number of schemes launched for supporting traders
Important Updates of the week
• GSTN issued updated GST Return Offline tool for Invoice Furnishing Facility (IFF) with new version V3.0.0 for quarterly filers
• GSTN: Functionality to opt in for composition has been made available for FY 2021-22
• GSTN has reintroduced the option to file Table 6A of Form GSTR-1 separately
• GSTN issued FAQ’s on the Quarterly Return Monthly Payment of Taxes (QRMP) Scheme
Our Article of the week
• GST Charcha on Union Budget 2021: GST leviable on services provided by Club or Association to its members?
Videos of the week
• Whether GST leviable on Services provided by Club or Association to its members || CA Bimal Jain
• Handholding for Filing GSTR 9 and GSTR 9C for FY 2019-20 || CA Bimal Jain
Source: a2ztaxcorp.com
