| AKGVG Weekly Insight |
| Dear Reader, |
Greetings for the day!!!
We are pleased to share AKGVG's Weekly Insight, dated 05th August, 2020 which includes: |
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| Date: 05.08.2020 |
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| S.no |
Description |
Relevant links |
| Section I: Income Tax |
| 1. |
Director General/ Secretary of Competition Commission of India has been notified by CBDT u/s 138 (1)(a)(ii) for disclosing assessee related information. |
Notification No. 57/2020
dtd 30.07.2020 |
| 2. |
CBDT notified extension of due date for filing of returns for AY 2019-20 till 30.09.2020. |
Notification No. 56/2020
dtd 29.07.2020 |
| 3. |
CBDT notified amendments to Rule 12CB w.r.t statement to be filed under section 115UB (7). Amended Form 64C and 64D also notified. |
Notification No. 55/2020
dtd 28.07.2020 |
| Section II: GST |
| 1. |
CG has made e-invoice applicable for registered persons having aggregate turnover above 500 crore rupees (with enhanced aggregate turnover) in a financial year w.e.f 1st Oct, 2020. Further SEZ units have been excluded from the requirement of issuance of E-invoice. Earlier it was made applicable to the registered persons whose aggregate turnover in a financial year exceeds 100 crore rupees. |
Notification No. 61/2020-CT
dtd 30.07.2020 |
| 2. |
CG introduced CGST (Ninth Amendment Rules), 2020 thereby substituting “FORM GST INV-01” with new “FORM GST INV – 1”. |
Notification No. 60/2020-CT
dtd 30.07.2020 |
| Section III: RBI |
| 1. |
RBI released data for sectoral deployment of bank credit. |
Press release
dtd 31.07.2020 |
| 2. |
RBI released Sovereign Gold Bond Scheme 2020-21 Series V. |
Press release
dtd 31.07.2020 |
| Section IV: Customs |
| 1. |
CBIC notified Sea Cargo Manifest and Transhipment (Second Amendment) Regulations, 2020. |
Notification No. 66/2020-Customs
dtd 31.07.2020 |
| 2. |
CBIC notified Transhipment of Cargo to Nepal under Electronic Cargo Tracking System (Amendment) Regulations, 2020. |
Notification No. 64/2020-Customs
dtd 31.07.2020 |
| 3. |
Safeguard duty levied on imports of 'Solar Cells whether or not assembled in modules or panels' for a period of one year , in pursuance of final findings of review investigations issued by DGTR. |
Notification No. 02/2020-Customs
dtd 29.07.2020 |
| 4. |
CBIC imposed definitive Anti-Dumping Duty on import of “Digital Offset Printing Plates” originating in, or exported from People’s Republic of China, Japan, Korea RP, Taiwan and Vietnam. |
Notification No. 21/2020-Customs
dtd 29.07.2020 |
| 5. |
CBIC imposed provisional anti-dumping duty on imports of Aniline originating in or exported from China PR for a period of six months. |
Notification No. 20/2020-Customs
dtd 29.07.2020 |
| 6. |
CBIC rolled out 2nd phase of All India Faceless Assessment - reg. |
Circular No. 34/2020-Customs
dtd 30.07.2020 |
We trust you will find this Journal informative as well as useful.
For any queries, you can write to us at "info@akgvg.com".
Looking forward to receive your valuable feedback
Disclaimer: This insight is meant for informational purpose only and should not be considered as an advice or opinion, or otherwise, whatsoever. AKGVG & Associates does not intend to advertise its services through this insight. AKGVG & Associates is not responsible for any error or omission in this insight or for any action taken based on its contents.
Best Regards!
Knowledge Updates Team
AKGVG & Associates
(Chartered Accountants)
DELHI | GURGAON | MUMBAI | AHMEDABAD | BANGALORE | CHENNAI | LUCKNOW
Tel: +91 9811118031, 9818330516,
Telefax:+91 11 49037920
Website: https://www.akgvg.com |
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