HomeNewsletterAug, 2021 – Issue No. II

Aug, 2021 – Issue No. II

GST

After 15.08.2021, the System will check the status of returns filed in Form GSTR-3B or the statements filed in Form GST CMP-08, and restrict the generation of EWB in case of:

  • Non filing of two or more returns in Form GSTR-3B for the months up to June, 2021 and
  • Non filing of 02 or more statements in Form GST CMP-08 for the quarters up to April to June, 2021.

INCOME TAX

No tax demand shall be raised in future on the basis of the retrospective amendment for any indirect transfer of Indian assets if the transaction was undertaken before 28th May, 2012.

Grievance redressals. Complaints can be sent to:
For Faceless assessments: samadhan.faceless.assessment@incometax.gov.in;
For Faceless penalty: samadhan.faceless.penalty@incometax.gov.in;
For Faceless Appeals: samadhan.faceless.appeal@incometax.gov.in.

 CUSTOMS

Anti-Dumping duty on imports of ‘Wire Rod of Alloy or Non-Alloy Steel’ from China PR up to 31.01.2022.

Anti-Dumping duty on imports of Polytetrafluoroethylene from Russia up to and inclusive of 30.11.2021.

DGFT

For those cases, where the last date for exports/replenishment/imports/drawal of precious metal as calculated under various sub paras of Paras 4.82, 4.83, 4.84 of Handbook of Procedure, 2015-20 expires between 01.02.2021 and 30.06.2021, such last date stands extended by six months.

Online procedure notified to provide for online filing and transfer of Advance Authorization(s) and EPCG Authorisation(s) from the earlier entity to new entity(s) in case of amalgamation/de-merger/acquisition/insolvency.

Pending e-BRC to be uploaded by 15.09.2021 for shipping bills with LEO upto 31.03.2020 on which RoSCTL scrip has been claimed from DGFT.

COMPANIES ACT

MCA makes amendments intended to ease compliances related to offering of securities, subscription thereof or listing of securities in International Financial Services Centres.

The Indian Tax Advisors