Amends made in the notification No.1/2017- Central Tax (Rate), Integrated Tax (Rate) and the Union Territory Tax (Rate) shall come into force on the 1st day of March, 2020.
This knowledge alert is a weekly compilation of key amendments / notifications alongwith its implications.
Under the RoSCTL and Additional Ad-hoc Incentive schemes, the rebate will be granted by DGFT in the form of electronic duty credit scrips similar to scrips issued under MIES.
The provisions of the Income Tax (4th Amendment) Rules, 2020 may come into force on the 1st day of April, 2020.
This knowledge alert is a weekly compilation of key amendments / notifications alongwith its implications.
While furnishing the information, the specified income tax authority shall form an opinion that sharing of such information is necessary for the purposes of enabling SEBI to perform its functions under its respective laws.
To curb cases of wrongful claims of input tax credit, rule 86A has been inserted to CGST Rules, 2017 which empowers tax officer, not below the rank of Assistant Commissioner, to block input tax credit available in the electronic credit ledger of a taxpayer if he has reasons to believe that such credit is ineligible or has been availed fraudulently.
Importers of Acetone originating in or exported from Korea RP shall continue to pay anti dumping duty for extended period till 15.04.2020
The Commissioner has extended the period for submitting the declaration in form GST TRAN-1 till 31st March, 2020.
This knowledge alert is a weekly compilation of key amendments / notifications alongwith its implications.
