GST
Availability of Input Tax Credit (ITC) for FY 2020-21:
Invoice or debit notes pertaining to FY 2020-21 reported in GSTR-1 after due date of GSTR-3B of September 2021 will not reflect as “ITC Available” in GSTR-2B of the recipients. Such records will reflect in “ITC Not Available” section of GSTR-2B and such ITC shall in turn not be auto-populated in GSTR-3B.
Invoice or debit notes pertaining to FY 2020-21 reported in GSTR-1 after due date of GSTR-3B of September 2021 will also not reflect as “ITC as per GSTR-2A” in Table-8A of GSTR-9 of the recipients.
Advisory for taxpayers on Form GSTR-2B issued.
CUSTOMS
Levy of ADD on Phenol imported from European Union, Singapore and Korea RP – rescinded.
Levy of ADD on Polytetrafluoroethylene from Russia and Korea RP – rescinded.