GST NEWS BULLETIN
Government Restricts Export Policy of Covid-19 Rapid Antigen Testing Kits
The Government of India has amended its existing export policy in relation to Covid-19 Rapid Antigen testing kits. The Directorate General of Foreign Trade (DGFT) vide Notification No. 18/2015-2020 dated August 16, 2021, has put restriction on export of Covid-19 Rapid Antigen testing kits with immediate effect. Such restrictions are aimed at increasing the domestic availability of the kits and now exporters will have to seek licence or permission from the DGFT to ship items under the restricted category.
Amnesty Scheme to Culminate On 31st August 2021
CBIC had introduced the Amnesty Scheme vide Notification No. 19/2021 – Central Tax dated 1st June 2021, to waive off the late fees for delayed filing of GSTR-3B for the tax period from Jul-17 to Apr-21, if filed between the period 1st June 2021 to 31st August, 2021. Taxpayers can take the benefit of such scheme maximum by 31st August 2021 as the scheme culminates on such date.
CBIC Hosting Webinar Regarding New Functionalities Deployed on GST Portal
GSTN has recently implemented Audit functionality for taxpayers. For creating awareness amongst all the stakeholders, GSTN is holding webinars in different languages. Webinar to be held on following dates: -
Last date to export under Scheme “Export Against Supply by Nominated Agencies” extended by 6 Months
Earlier, vide Notification No. 57/2000 – Customs dated May 08, 2000, government reduced the rate of Customs Duty to NIL on import of Gold, Silver, Platinum under the Scheme for ‘Export Against Supply by Nominated Agencies’ as referred to in Paragraph 4.41 of the Foreign Trade Policy.
Implementation of Rule 59(6) on GST Portal
CBIC had inserted Rule 59(6) of CGST Rules, 2017 vide Notification No. 1/2021 dated 1st January 2021 which provides for restriction in filing of GSTR-1 in certain cases :