March, 2021 – Issue No. III

GST

From 01.04.2021 – e-invoicing for taxpayers having aggregate turnover exceeding Rs. 50 Crores shall come into force.

Refund related issues – clarification issued on (i) refund claim by recipient of Deemed Export Supply and availment of ITC by such recipient, (ii) extension of relaxation for filing refund claim in cases where zero-rated supplies has been wrongly declared in Table 3.1(a) of 3B Return; (iii) the manner of calculation of Adjusted Total Turnover.

INCOME TAX
New Form 12BA – Statement showing particulars of perquisites, other fringe benefits or amenities and profits in lieu of salary with value thereof, introduced.
CUSTOMS

Countervailing/anti-subsidy duty imposed on imports of “Textured Tempered Glass” from Malaysia for a period of five years.

Definitive Anti-dumping duty imposed on imports of Ciprofloxacin Hydrochloride from China PR for a period of five years from 02.09.2020.

DGFT
Government of Andhra Pradesh has been allowed time upto 31.12.2021 to complete the process of export of allocated quantities of Red Sanders wood.