Newsletter – August, 2020 IV Week


Virtual Hearing made mandatory for Adjudication/Commissioner (Appeals) proceedings relating to CGST/IGST/Customs/Excise/Service tax.

The CBIC had issued a notification on 23.03.2020, making Aadhaar authentication mandatory for GST registration from April 1, 2020. This condition has been modified to the extent that it is now optional to undergo Aadhaar authentication. However, such registration without Aadhaar authentication would be granted only after physical verification of place of business within 21 days of date of submission of the application; previously it was 60 days.


Income Tax rules amended to provide for conditions and guidelines for Pension Funds.

ICAI has released Guidance Note on Transfer Pricing for 2020.

Only Investigation Wing Officers and Commissionerates of TDS shall act as “Income-tax Authority” for the purposes of “survey” under the Act.


Anti-Dumping Duty levied on “Acrylonitrile Butadeine Rubber” imported from Korea RP extended upto 03.12.2020.

Anti- Dumping Duty levied on “Phosphoric Acid of all grades and concentrations (excluding Agriculture or Fertilizer grade)” imported from Korea RP extended for a period of 5 years.

Anti- Dumping Duty levied on “Caustic Soda” imported from China and Korea RP extended upto 17.11.2020

Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 notified. To be effective from 21.09.2020. Applicable to imports where the importer makes claim of preferential rate of duty in terms of a trade agreement.

Manufacture and Other Operations in Special Warehouse Regulations, 2020 notified. These regulations pertain to manufacturing and other operations in a special warehouse licensed under section 58A and operating under Section 65 of the Act. Special Warehouse (Custody and Handling of Goods) Regulations, 2016 not applicable for these warehouses.

Eligible Importers can opt for benefit of deferred payment of import duty without seeking permission from the principal commissioner/commissioner.
‘Authorised Public Undertakings’ (APU) can avail the facility of deferred payment of import duty.


Non-woven fabrics of any GSM – Free Exports
Melt-blown Fabric of any GSM – Prohibited exports


Companies which are unable to hold their AGM for the financial year ended on 31.03.2020 can seek time extension in Form No. GNL-1 on or before 29.09.2020.


M/s National Stock Exchange of India Limited to undertake Aadhaar Authentication.
24 Insurance companies to undertake Aadhaar Authentication.


Clarification issued on Udyam Registration.

Previous registrations in Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAMs) obtained till June 30, 2020 will remain valid only till March 31, 2021. Udyam Registration to be obtained afresh.

Value of Plant and Machinery or Equipment of enterprises would mean the Written Down Value (WDV) as at the end of the Financial Year and not cost of acquisition or original price.

The Indian Tax Advisors