January, 2022 – Issue No. I


Revision of GST rates in Textile Sector deferred. Pre-revision rates of GST in textile sector would continue beyond 01.012022.

Three Central Tax (Rate) notifications issued to align with HSN 2022 with effect from 01.01.2022.

New HSN codes will be effective from 01.01.2022. Click here for Guidance note.

Footwear of sale value not exceeding ₹ 1000 per pair – 6% CGST.

Due date of Annual Return/Self-certified reconciliation statement for FY 2020-2021 – 28.02.2022.

Rule 144A inserted for recovery of penalty by sale of goods or conveyance detained or seized in transit – auction to be conducted if the penalty has not been paid within 15 days of date of receipt of the copy of the Section 129(3) order. Procedure laid down.


Faceless Appeal Scheme, 2021 introduced.

Income-tax authorities notified for exercise of powers and functions in order to facilitate the conduct of e-appeal Proceedings.

One time relaxation upto 28.02.2022 – in respect of all ITRs for AY 2020-21 which were uploaded electronically by the taxpayers within the time allowed and which have remained incomplete due to non-submission of ITR-V Form/ pending e-Verification, a duly signed physical copy of ITR-V may be sent to CPC, Bengaluru through speed post or through EVC/OTP modes.

Anti Dumping Duty imposed on imports of “Decor Paper” from China PR for a period of 5 years.

Free Trade Agreement/Preferential Trade Agreement notifications amended to align with HSN 2022 w.e.f. 1.1.2022.

BCD on Covid-19 vaccines extended upto 30.06.2022.

Schedule for Drawback on exports of goods amended.

Sea Cargo Manifest and Transhipment Regulations, 2018 – Transitional provisions extended upto 30.06.2022.

31.01.2022 – Last date for submitting online applications for Scrip based FTP Schemes.
Annual financial statement/return filings – No additional fees would be levied upto 15.02.2022 for the filing of e-forms AOC-4, AOC-4 (CFS), AOC-4 XBRL, AOC-4 Non-XBL and upto 28.02.2022 for filing of e-forms  MGT-7/MGT-7A in respect of the financial year ended on 31.03.2021.

The Indian Tax Advisors