GST NEWS BULLETIN

List of GSTIN’s whom e invoicing shall be mandatory

National Informatics Centre (NIC) has issued a list of GSTINs dated November 05, 2020 For whom e-invoicing shall be mandatory.

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NAA: Starbucks fined for not passing on GST cut benefits

The National Anti-Profiteering Authority has fined Starbucks Rs 1.04 crore plus 18% interest for not passing on the benefit of a reduction in the goods and services tax rate from 18% to 5% to consumers between November 2017 and June 2018.

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Delhi High Court: Upheld the power to conduct Service Tax Audit post GST regime

The Hon’ble Delhi High Court in the case of M/s Vianaar Homes Pvt. Ltd [ W.P.(C) 2245/2020 & CM APPL. 7832/2020 dated November 3, 2020] has held that Section 174(2)(e) of the Central Goods and Services Tax Act, 2017 (“CGST Act”), specifically empowers the authorities to institute any investigation, inquiry, verification, assessment proceedings, adjudication, etc. including service tax audit under Rule 5A of the Service Tax Rules, 1994 (“Service Tax Rules”), as said Rule framed under the repealed or omitted chapter V of the Finance Act, 1994 (“Finance Act”), is saved.

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More than 495 Lakh e-invoices generated on the NIC portal within a month of introduction

The e-invoice system was launched on 1st October, 2020 for the businesses with aggregate turnover of more than Rs. 500 Crores in the financial year. According to NIC, within the first month of the introduction itself, more than 495 Lakh e-invoices were generated on the NIC portal by 27,400 taxpayers.

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