The Ministry of Finance on July 15, 2020 has issued a press release to provide clarification on GST rates applicable on alcohol-based hand sanitisers. The Ministry has further clarified that the GST rates applicable on alcohol-based hand sanitisers is 18 percent which has been decided by the Central and State Government. Further, the Ministry statedContinue reading “Ministry of Finance issues clarification on applicable GST rates on alcohol-based hand sanitisers”
Tag Archives: CBIC UPDATES
CBIC modifies Tariff Value for Edible Oil, Brass Scrap, Poppy Seeds, Areca Nut and Silver as on July 15, 2020
The Central Board of Indirect Taxes and Customs (CBIC) on July 15, 2020, has amended the tariff Notification in respect of fixation of tariff value of the following goods: Crude Palm Oil RBD Palm Oil Others – Palm Oil Crude Palmolein RBD Palmolein Others – Palmolein Crude Soya bean Oil Brass Scrap (all grades) PoppyContinue reading “CBIC modifies Tariff Value for Edible Oil, Brass Scrap, Poppy Seeds, Areca Nut and Silver as on July 15, 2020”
CBIC amends all industry rates of duty drawback effective from July 15, 2020
The Central Board of Indirect Taxes and Customs (CBIC) on July 15, 2020 amends all the industry rates of Duty Drawback. The amendments have been made in the notification issued by the Ministry on July 13, 2020 vide notification no. 56/2020- Customs (N.T.). Following amendments have been made in the notification: • AIR’s have been enhancedContinue reading “CBIC amends all industry rates of duty drawback effective from July 15, 2020”
CBIC facilitates suggestions for review of existing customs duty online
The Central Board of Indirect Taxes and Customs (CBIC) on July 21, 2020 has issued a notification for crowd sourcing of suggestions for review of existing customs duty exemption notifications or customs laws and procedures. The government has taken a step forward to institute a facility at Mygov Innovate portal for all the stakeholders andContinue reading “CBIC facilitates suggestions for review of existing customs duty online”
Government of Delhi extends timeline for furnishing the details of outward supplies in FORM GSTR-1
The Delhi Finance Revenue Department June 25, 2020, extends the time line for furnishing the details of outward supplies in FORM GSTR-1 of the Delhi Goods and Services Tax Rules, 2017, by such class of registered persons having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or the current financialContinue reading “Government of Delhi extends timeline for furnishing the details of outward supplies in FORM GSTR-1”
CBIC extends the validity of AEO certificate for ease of renewal process
The Central Board of Indirect Taxes and Customs (CBIC) on June 30, 2020 has decided to extend the validity of the AEO certificate for the process of renewal or modification. The ministry has extended the validity of all AEO certificates expired or expiring between March 01, 2020 and September 30, 2020 till September 30, 2020 except forContinue reading “CBIC extends the validity of AEO certificate for ease of renewal process”
Rajasthan Commercial Taxes Department extends last date for filing FORM GSTR- 3B
The Commercial Taxes Department of Rajasthan on June 26, 2020 amends the Notification no. F.17 (131 pt-II) ACCT/GST/2017/5579 issued on March 24, 2020. All the taxpayers, who have an aggregate turnover of more than 5 crores in the previous financial year and having the principal place of business in the State, shall furnish FORM GSTR- 3B forContinue reading “Rajasthan Commercial Taxes Department extends last date for filing FORM GSTR- 3B”
The Central Goods and Service Tax (Eight Amendment) Rules, 2020
The Central Board of Indirect Taxes and Customs (CBIC) on July 01, 2020 issues the Central Goods and Service Tax (Eighth Amendment) Rules, 2020 to further amend the Central Goods and Service Tax Rules, 2017. A newRule 67A has been substituted related to “Manner of furnishing of return or details of outward supplies by shortContinue reading “The Central Goods and Service Tax (Eight Amendment) Rules, 2020”
CBIC provides relief by waiver of late fee for delay in furnishing outward statement in FORM GSTR-1 for monthly filers and for quarterly filers
The Central Board of Indirect Taxes and Customs (CBIC) on June 24, 2020, provides relief by waiver of late fee for delay in furnishing outward statement in FORM GSTR-1 for tax periods for months from March, 2020 to June, 2020 for monthly filers and for quarters from January, 2020 to June, 2020 for quarterly filers.Continue reading “CBIC provides relief by waiver of late fee for delay in furnishing outward statement in FORM GSTR-1 for monthly filers and for quarterly filers”
CBIC provides relief by lowering of interest rate for a prescribed time for tax periods from February, 2020 to July, 2020
The Central Board of Indirect Taxes and Customs (CBIC) on June 24, 2020, provides relief by lowering of interest rate for a prescribed time for tax periods from February, 2020 to July, 2020. Whereas, CBIC amends the Notification No. 13/2017 – Central Tax, dated June 28, 2017 to provide relief, in the first paragraph, first provisoContinue reading “CBIC provides relief by lowering of interest rate for a prescribed time for tax periods from February, 2020 to July, 2020”
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