GST NEWS BULLETIN

New Functionality Introduced for Registering Complaints on Misuse of PAN in GST Registration

GSTN has deployed a functionality on GST Portal to address the complaints related to misuse of PAN for obtaining GST registration. The functionality will check the misuses, control the frauds, and help officers in enquiry and cancellation of such registration.

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Exemption >From Mentioning Dynamic QR Code on B2C Invoices Extended till 30th September 2021

CBIC vide Notification No. 28/2021 – Central Tax dated 30th June 2021 has extended the waiver of penalty leviable under Section 125 of the CGST Act, 2017 (i.e. general penalty) for non-compliance of provisions* of Notification No. 14/2020–Central Tax dated March 21, 2020 (Provisions of Mentioning of Dynamic QR Code in GST Invoices) between the period from 1st December 2020 to 30th September 2021, subject to the condition that the said person complies with the provisions of the said notification from 1st October 2021.

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Last Date for Modifying/Updating the IEC Extended Up to 31st July 2021

Directorate General of Foreign Trade (DGFT) vide Notification No. 11/2015-2020 dated 1st July 2021 have extended the last date for modification/update of IEC by 31st July 2021.

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Highest Ever Merchandise Exports Achieved in The History of India

The Minister of Commerce & Industry, Shri Piyush Goyal held a press conference to showcase the achievements of the Ministry of Commerce and Industry in Q1 (April - June) of 2021-22. He mentioned about the highest ever merchandise exports of USD 95 billion in Q1 of 2021-22 being achieved in the history of India.

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CBIC to Issue Certificates of Appreciation to Honour Contributions of Taxpayers

On completion of 4 years of GST, CBIC has decided to honour the taxpayers who have been a part of the GST success story. A data analytics exercise was undertaken by the CBIC to identify taxpayers who have made substantial contribution in payment of GST in cash along with timely filing of returns. As a result, 54,439 taxpayers have been identified. More than 88% of these taxpayers are from Micro (36%), Small (41%) and Medium enterprises (11%) representing a wide spectrum of sectors involved in the supply of goods & services spread across all States/UTs.

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NIC Issued List of GSTIN’s Generating IRN

National Informatics Centre (NIC) has issued a list of GSTINs generating IRN dated July 01, 2021. The same can be accessed on the link >
https://einvoice1-trial.nic.in/Others/GSTINsGeneratingIRN

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