GST NEWS BULLETIN
New Payment Options Enabled Under Form DRC-03
The Goods & Services Tax Network (GSTN) has provided 2 new payment options under Form DRC-3. One on account of Liability Mismatch - GSTR-1 to GSTR-3B and other on account of ITC mismatch – GSTR-2A/2B to GSTR-3B. The taxpayer can check the same by navigating the below mentioned path : Dashboard>Services>User Services> My Applications> Intimation of Voluntary Payment.
Updated List Of GSTIN’s For Which E-Invoicing Applicable
As e-invoicing became applicable w.e.f. 1st January, 2021 for registered persons having aggregate turnover exceeding ₹ 100 crores, CBIC has issued the updated list of GSTIN’s which are required to issue e-invoices.
CBIC Issued Instructions For Requirement of Filing of Bill of Coastal Goods (BCG)
CBIC had received representations that at various ports like Cochin, VoCPT (Tuticorin), Paradip, Haldia and Kolkata, Bill of Coastal Goods (BCG) is still required to be filed for pure coastal vessels operating from EXIM berths whereas, in terms of Notification 57/2016-Cus (N.T.), dated 27.04.2016, only a Manifest is required to be submitted for pure coastal vessels operating from EXIM berths.
CBIC Extends Waiver Of Bank Guarantee For Transhipment Of Import & Export Cargo Via Sri Lanka And Bangladesh
CBIC issued Circular No. 01/2021-Customs dated January 14, 2021 for transhipment of Import & Export Cargo via Sri Lanka and Bangladesh-Waiver of bank guarantee.