GST NEWS BULLETIN

Highest Ever GST Revenue Collected in December, 2020 Since GST Implementation

Ministry of Finance declared the gross GST Revenue details on 1st January, 2021 for the month of December, 2020. The gross GST revenue for the month of December, 2020 stood at ₹ 1,15,174 crores.

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Communication between Recipient and Supplier Taxpayers on GST Portal

A facility of ‘Communication Between Taxpayers’ has been provided on the GST Portal, for sending a notification by recipient (or supplier) taxpayers to their supplier (or recipient) taxpayers, regarding missing documents or any shortcomings in the documents or any other issue related to it. This facility is available to all registered persons, except those registered as TDS, TCS or NRTP.The main features of this facility are summarized as below:

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Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme Gets Implemented From 01.01.2021

Taking a major step to boost exports, Government has decided to extend the benefit of the Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) to all export goods with effect from 1st January, 2021.

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Update on Auto-Population of E-Invoice Details into GSTR-1/2A/2B/4A/6A

Taxpayers who had started e-invoicing from 1-10-2020, the auto-population of e-invoice data into GSTR-1 (of December 2020) had started from December 3rd, 2020. In this regard, following update is to be noted by the taxpayers:

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CBIC has Cleared the Misconceptions About 1% Tax Liability Under Rule 86 B

CBIC has cleared the misconceptions prevailing in the industry regarding application of Rule 86B. Following misconceptions have been cleared by CBIC :

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