Important Judgments, Rulings of the week
• Rejected application seeking amendments in the Writ Petition introducing entirely different cause of action
• Allowed refund of IGST along with interest on export made during July -September, 2017 period
• Not providing an opportunity of being heard before passing an order is violative of principle of natural justice
• Earthwork for mining development taxable @5%, constitutes ‘composite supply of works contract’
• GST @5% not applicable for the facilities provided in self-owned marriage and party halls
• ‘Hypothetical question’ which has not yet materialized, outside the purview of Advance Ruling
Important Notifications, Public Notices, etc.
• Customs Verification of Identity and Compliance Regulations introduced for newly engaged Importer, Exporter and Customs Broker
• Levy of applied rate of duty of Customs (Agriculture Infrastructure and Development Cess) on imported goods notified
• Levy of additional duty of excise (Agriculture Infrastructure and Development Cess) notified
• Maharashtra Govt. introduced new Scheme for withdrawal of the assessment proceedings
• Enhanced monetary limit for selection of cases for assessment under Maharashtra Assessment Scheme
• Notified new address of Regional Authority, Ahmedabad under Handbook of Procedure 2015-2020
• Relaxation in late cut for MEIS applications for exports made in the F.Y. 2019-2020
• Centre promulgated the Tribunals Reforms Ordinance, 2021 for abolition of certain existing tribunals/ authorities
Press Releases of the week
• India Attracts total FDI inflow of US$ 72.12 billion during April, 2020 to January, 2021
• Rs 2,74,034 crore Foreign Portfolio Investments inflows in Indian equity markets
• President promulgates Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021
Important Updates of the week
• Advisory on auto-population of e-invoice details into GSTR-1
• Module wise new functionalities deployed on the GST Portal for taxpayers
• Advisory on payment of tax by taxpayers under QRMP Scheme, for the month of March, 2021
Video of the week
• Whether GST Law is failing as Citizens Friendly Tax Structure || CA Bimal Jain
Source: a2ztaxcorp.com
