"16 October 2020" Archive

CBIC exempt CGST on satellite launch services

Notification No. 05/2020-Central Tax (Rate) [G.S.R. 643(E).] (16/10/2020)

To amend notification No. 12/2017- Central Tax (Rate) so as to exempt satellite launch services provided by ISRO, Antrix Co. Ltd and NSIL as recommended by GST Council in its 42nd meeting held on 05.10.2020. Notification No. 05/2020 – Central Tax (Rate) dated 16th October, 2020. Government of India Ministry of Finance (Department of...

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Companies (Prospectus and Allotment of Securities) Amendment Rules, 2020

Notification No. G.S.R. 642(E). (16/10/2020)

(1) These rules may be called the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2020. (2) They shall come into force from the date of their publication in the Gazette....

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FAQs on Form GSTR-2B

Form GSTR-2B Q.1 What is Form GSTR-2B? Ans: Form GSTR-2B is an auto-drafted ITC statement which will be generated for every registered person on the basis of the information furnished by his/her suppliers in their respective Form GSTR-1 & Form GSTR-5 and ITC received through Form GSTR-6. The statement will indicate availability of Inp...

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GSTR 2A: What you must know with FAQs

Form GSTR-2A is a system generated Statement of Inward Supplies for a recipient. Form GSTR-2A will be generated in below scenarios: When the supplier uploads the B2B transaction details in their Form GSTR-1 / 5...

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All about GSTR 1- Monthly Statement of Outward Supplies with FAQs

Q.1 What is GSTR-1? Who is required to file the GSTR-1? Ans: GSTR-1 is a monthly Statement of Outward Supplies to be furnished by all normal and casual registered taxpayers making outward supplies of goods and services or both and contains details of outward supplies of goods and services. Every registered taxable person, other than [&hel...

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Importing of invoices in e-Way bill system into Form GSTR-1

Taxpayers supplying taxable goods valued of Rs. 50,000 and above, generate e-way bills, where details of invoices have to be given by them. Further, the invoice details for business to business sales, made by them, have to be given in Form GSTR-1. To avoid duplicate data entry, GSTN has provided a facility to taxpayers, where […]...

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CBIC extends ADD on imports of Front Axle Beam & Steering Knuckles

Notification No. 31/2020-Customs (ADD) [G.S.R. 646(E)] (16/10/2020)

Seeks to amend notification No. 49/2015-Customs (ADD), dated 21st October, 2015 to extend the levy of ADD on imports of ‘Front Axle Beam and Steering Knuckles meant for heavy and medium commercial vehicles’ originating in or exported from China PR, for a period upto and inclusive of the 30th November, 2020. Notification No. 31...

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Custom Notification in relation to road connecting India & Bhutan

Notification No. 101/2020-Customs (N.T.) [S.O. 3642(E)] (16/10/2020)

Notification in relation to the road connecting Jaigaon Bazar in India and Phuentsholing in Bhutan and Asian Highway 48 connecting Torsha tea garden in India and Ahllay in Bhutan by amendment of Principal Notification No. 63/1994-Customs dated 21st November, 1994 -regd. Notification No. 101/2020- Customs (N.T.) Dated 16th October, 2020. G...

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CBIC exempt UTGST on satellite launch services

Notification No. 05/2020-Union Territory Tax (Rate) [G.S.R. 645(E).] (16/10/2020)

To amend notification No. 12/ 2017- Union Territory Tax (Rate) so as to exempt satellite launch services provided by ISRO, Antrix Co. Ltd and NSIL as recommended by GST Council in its 42nd meeting held on 05.10.2020. Notification No. 05/2020 – Union Territory Tax (Rate) Dated 16th October, 2020. Government of India Ministry of Finance [...

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CBIC exempt IGST on satellite launch services

Notification No. G.S.R. 644(E) (16/10/2020)

To Amend No.9/2017- Integrated Tax (Rate), dated the 28th June, 2017 So As To Exempt Satellite Launch Services Provided By ISRO, Antrix Co. Ltd And NSIL As Recommended By GST Council In Its 42nd Meeting Held On 05.10.2020. Notification No. 05/2020- Integrated Tax (Rate) dated 16th October, 2020. Government of India Ministry of Finance (D...

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