GST
Invoice Furnishing Facility (IFF) for Taxpayers under QRMP Scheme – Manual and FAQs issued.Aadhaar Authentication / e-KYC for Existing Taxpayers on GST Portal – Manual and FAQs issued.
INCOME TAX
In view of new restrictions by UIDAI of a maximum of 5 OTP requests for a single Aadhaar within a span of 30 minutes, taxpayers should give sufficient time before multiple submissions for Aadhaar OTP.
TDS FVU version 7.0 related changes have been enabled in e-filing portal.
CUSTOMS
Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme implemented from the 1st January, 2021. Rates and other details to be notified shortly.
CBIC has introduced flagship “Liberalised Authorised Economic Operator Package” for MSMEs. CBIC’s flagship “Liberalised MSME AEO Package” scheme is a voluntary compliance programme which enables swifter Customs clearance for accredited stakeholders in the global supply chain viz. importers, exporters, logistic service providers, custodians etc. AEO is a programme under the aegis of the World Customs Organization (WCO).
Central Government rescinds Customs (Advance Rulings) Rules, 2002 and replaces it with Customs Authority for Advance Rulings Regulations, 2021.
Anti Dumping Duty imposed on imports of “Melamine” from China PR extended upto 28.02.2021.
DGFT
Import policy of some items classified under Chapter 41 and 43 of ITC (HS), 2017, Schedule I (Import Policy) is amended from “prohibited” to “free”.
Cyber fraud complaints from Indian Exporters – advisory issued on the necessary cyber security protection to be taken by exporters.
INSOLVENCY LAWS
The Board issues directions for Retention of records relating to Corporate Insolvency Resolution Process.
The Board invites comments from public on “Pre-packaged Insolvency Resolution Process”.