Important Judgments of the week
- Allahabad HC: Revokes Order of Cancellation of Registration and condemns the callous attitude of the Department
- Only person who has borne the incidence of duties/ taxes, is entitled to claim refund
Important Circulars of the week
- CBIC issued Circular for Third Party Invoicing in case of Preferential Certificates of Origin issued in terms of DFTP for “wholly obtained goods”
- DGFT issued ECA Circular for providing documents sought by investigating agencies like CBI, ED, DRI, etc.
Important Press Releases of the week
- 6th Instalment of Rs. 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall
- Haryana Excise and Taxation Department issued advisory on timely amendment of registration particulars in GST
- One arrested for fraudulently availing ITC of around Rs 45 crores
- DGGI Gurugram arrests man for illegally availing input tax credit on invoices without goods
- FM lauds concerted efforts resulting in higher procurement and payment of over Rs 21,000 crore to MSMEs upto November, 2020
- Ministry of Commerce and Industry and Ministry of AYUSH decides to set up an AYUSH Export Promotion Council
- FM Nirmala Sitharaman reviews implementation of Aatma Nirbhar Bharat Package with Secretaries of concerned Ministries/Departments
Important Updates of the week
- GSTN: Annual return in Form GSTR-9 for FY 2019-20 is now available on GST Portal
- CBIC: Know about Quarterly Return and Monthly Payment (QRMP) Scheme for GST Taxpayers
- GSTN starts auto-populating GSTR-1 on the basis of IRN on near to real-time basis
- GST EWB: New enhancements in E-way Bill System
- NIC released Beta Version of GST e-invoice Preparing and Printing (GePP) excel based Tool
- GSTN: The complete auto-populated GSTR-3B for Nov 2020 tax-period is available now for monthly filers
- GSTN: New and useful facility of “Communication between Taxpayers” has been enabled on GST portal
Video of the week
- Theme Presentation on E-Invoicing for Registered Person having Aggregate Turnover more than 100 Crore at PHD Chambers of Commerce || CA Bimal Jain
Source: a2ztaxcorp.com
