The quick snapshot on the updates has been made basis the recent Notifications, Circulars, Orders, Writs, Advance Rulings and other important judgments under Indirect tax:

• New Due Dates for GSTR-3B based on Turnover and State Registration
• Amendment in value of supply in case of lottery, betting, gambling and horse racing
• Prescribing of special procedures for corporate debtor who are undergoing the corporate insolvency resolution process (CIRP) and whose management of whose affairs are being undertaken by IRP (Interim resolution professionals) / RP (Resolution professionals)
• Exemption of certain class of registered persons from issuing e-invoices and the date for implementation of e-invoicing extended to 01.10.2020
• Standard Operating Procedure to be followed by Exporters
• Electronic sealing-deposit in and removal of goods from Customs Bonded Warehouse
• CHHATTISGARH HIGH COURT: Merely because the manufacturer sells his products to its customer or dealer at a price lower than the MRP, as such cannot be a ground on which the product or the vehicle could be seized or detained
• Supreme Court of India: In Re Cognizance For Extension Of Limitation
• MADHYA PRADESH AAR: ITC not admissible on goods and services used in construction of warehouse used for letting out on rent

 

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