January, 2023 – Issue No. IV

According to Hon’ble Supreme Court’s directive filing of TRAN forms was made available for aggrieved taxpayers during 1.10.2022 to 30.11.2022. Some taxpayers have submitted TRAN forms but not filed it.  These taxpayers are not able to file their GSTR-3B.  GSTN has advised such tax payers to raise a ticket on GST Grievance Portal giving consent that their TRAN filing status may be reset by GSTN. Once the consent for resetting their unfiled TRAN forms is received, the TRAN forms will be reset and the taxpayer will be able to file their GSTR-3B.

Covid-19 Vaccine [Chapter 30] is exempted from customs duties during 14.1.2013 to 31.3.2013, when imported into India by Central/State Government.

For the years 2020-21 and 2021-22, Hotel, Healthcare, and Educational sectors will not be required to maintain average export obligation for EPCG authorizations.
The Directorate General of Foreign Trade (DGFT) has notified the amended rules for calculation of Composition Fee for extending Export Obligation under Advance Authorization Scheme.  The revised Composition Fee formula, which is based on a specific rate for different levels of the ‘CIF value of Authorisation’, is more straightforward and easier to calculate’.

The Indian Tax Advisors