Important Judgments, Ruling of the week
• Exclusion of small scale ice cream manufacturers from composition scheme benefit to be reconsidered by GST Council
• Provisional attachment on sub-contractor’s escrow account lifted as sub-contractor is not a taxable person
• Power to attach bank account should be exercised strictly as it entails serious consequences
• Time period to file an appeal starts only when the order is uploaded on GST portal
• SC directed UOI to file affidavit regarding technical glitches faced in filing GST TRAN-01
• Amount received for security services including amount of wages for guards taxable @18%
Important Notifications, Circulars, etc.
• CBIC extended the due date for filing GSTR 9 and GSTR 9C for FY 2019-20 till March 31, 2021
• Class of persons exempted from Aadhaar authentication
• Notified Amnesty Scheme, 2021 for rebate of tax and settlement of outstanding demands and disputes
• Clarifications w.r.t. applicability of Dynamic Quick Response (QR) Code on B2C invoices
• Policy and Guidelines for setting up of Inland Container Depots (ICDs), Container Freight Stations (CFSs) and Air Freight Stations (AFSs)
• Clarification regarding payment of Agriculture Infrastructure and Development Cess (AIDC) by EOU
• Guidelines for determination of tax by proper officer under Section 73 and 74 of the CGST Act, 2017
• Electronic filing and issuance of Preferential Certificate of Origin (CoO) for export under IndiaMercosur PTA and India-Thailand EHS w.e.f. February 25, 2021
• Noida, UP notified as Town of Export Excellence for Apparel products
Important Press Releases of the week
• MCA & CBIC sign MoU for exchange of data for enhancing ease of doing business
• FM Nirmala Sitharaman chairs meeting to discuss post-budget action points for infrastructure roadmap ahead
Important Updates of the week
• Advisory on Reconciliation statement to be filed in Form GSTR-9C
• GSTN issued updated Offline Utility Tool (v1.7) for GSTR-9C
• Taxpayers are advised to report values upto 2 decimal places only in GSTR-9 offline utility
• GSTN enabled the option to download 2B summary & 2B in detail
• Flyer issued on fake invoice for creating awareness
Our Articles of the week
• GST Charcha on Union Budget 2021: Amendments proposed in Section 129 and 130 of the CGST Act, 2017
• GST Charcha on Union Budget 2021: Amendments proposed in Section 74, 107, 151, 152 and 168 of the CGST Act, 2017
Videos of the week
• Clerical Errors liable for 200% penalty for release of Goods in Transit || CA Bimal Jain
• Extension of Due Date for filing GSTR 9 & GSTR 9C for FY 2019-20 || CA Bimal Jain
Source: a2ztaxcorp.com
