Weekly Updates

05 Aug
August 5, 2022

The Special Additional Excise Duty (SAED) imposed by the Government of India on domestically produced petroleum products has been revised, following the earlier…

25 Jul
July 25, 2022

In celebration of the recent 5-year milestone of the GST regime, the US-India Tax Forum hosted Mr. Vivek Johri, Chairman, CBIC, and Mr. D.P. Nagendra Kumar…

14 Jul
July 14, 2022

Pursuant to the recommendations and decisions taken in the 47th GST Council meeting, the CBIC has given effect to the same via issue of necessary circulars…

06 Jul
July 6, 2022

The Government levied additional duties on exports of petroleum crude, petrol, diesel and aviation turbine fuel to tax the windfall gains earned by petroleum

22 Jun
June 22, 2022

The ADVAIT module was launched by CBIC earlier this year to examine and flag variances in import assessable value. The use of the above model is however leading to inordinate delays..

08 Jun
June 8, 2022

The GST council is expected to meet towards the end of this month. USISPF’s tax forum has done multiple…

06 Jun
June 6, 2022

CC, C.Ex. & ST Bangalore (Adjudication) v. Northern Operating Systems Pvt. Ltd – Wherein it has been held that …

19 May
May 19, 2022

CBIC has extended the due date for furnishing the return in FORM GSTR-3B for the month of April, 2022 till May 24, 2022 …

19 May
May 19, 2022

CBIC has extended the due date for furnishing the return in FORM GSTR-3B for the month of April, 2022 till May 24, 2022 …

12 May
May 12, 2022

Forum submitted Representation Seeking Amendment in Customs Duty Benefits Extended to Oil and Gas Sector …

11 May
May 11, 2022

Meeting minutes of US India Strategic Partnership Form (USISPF) webinar on Advanced Pricing Agreements and …

29 Apr
April 29, 2022

In continuation to our advocacy efforts on Customs laws and procedures, US India Tax forum will be soon organising …

22 Apr
April 22, 2022

In continuation to our advocacy efforts on Customs laws and procedures, US India Tax forum will be soon organising a discussion…

25 Mar
March 25, 2022

Directorate General of Systems and Data Management (DG Systems), CBIC has issued advisory detailing step-by-step guide for …

11 Mar
March 11, 2022

GSTN issues Advisory for auto-population of e-invoice details into GSTR-1, envisages that generation of e-invoice is mandatory…

07 Mar
March 7, 2022

The US-India Strategic Partnership Forum (USIPF) in collaboration with KPMG in India organized a post budget industry…

03 Feb
February 3, 2022

The US-India Strategic Partnership Forum (USIPF) in collaboration with KPMG in India organized a post budget industry…

14 Jan
January 14, 2022

The board has extended the due date for filing tax audit reports, report u/s 92E for AY 2021-22 to Feb 15, 2022; Extends due …

07 Jan
January 7, 2022

The WCO Convention on Harmonized Commodity Description and Coding System (the HS convention) came out with …

24 Dec
December 24, 2021

Further to feedback received from our member companies, forum has requested an urgent consideration for extension of GST compliance …

17 Dec
December 17, 2021

The Central Board of Direct Taxes has issued new rules for faceless collection of information from taxpayers, where mismatches are …

10 Dec
December 10, 2021

In continuation to our advocacy efforts on GST, Forum met with the GST secretariate to discuss specific issues of the E-commerce sector. …

03 Dec
December 3, 2021

In its 45th meeting held on September 17, 2021, the GST Council discussed the need to undertake GST rate rationalization including correction of inverted duty …

29 Nov
November 29, 2021

The US-India Strategic Partnership Forum (USIPF) in collaboration with KPMG India had organized a pre-budget industry consultation with Mr. …

26 Nov
November 26, 2021

To enable a policy discussion around the Budget recommendations, USISPF organised a virtual pre-budget consultation with Mr Kamlesh Varshney…

22 Nov
November 22, 2021

Rarely do you have global consensus between the representatives of almost 140 countries who can find common ground on most issues, let alone on taxes …

10 Nov
November 10, 2021

USISPF is organising a pre-budget consultation with Ms Pragya Sahay Saksena, Member (Legislation & Systems) – Central Board of Direct Taxes, Ministry of Finance on …

01 Nov
November 1, 2021

In its 45th meeting held on September 17, 2021, the GST Council discussed the need to undertake GST rate rationalization including correction of inverted duty structure …

15 Oct
October 15, 2021

45th GST council meeting under chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman….

08 Oct
October 8, 2021

As part of the preparation for the upcoming Budget Session (2022-23), USISPF plans to submit a Pre-Budget Memorandum to the Ministry of Finance…..

03 Sep
September 3, 2021

The Finance Ministry has announced an extension of the deadlines for e-filings of various income tax returns forms that come under the ambit of the Income-Tax Act,

27 Aug
August 27, 2021

CBIC has been receiving bulk verification request from field formations for getting verification done from verifying…

13 Aug
August 13, 2021

Budget 2021 proposed to review some of the existing Customs Exemption Notifications in order to make them more releva …

06 Aug
August 6, 2021

In continuation to our advocacy efforts on GST legislative and procedural issues, USISPF will be meeting CBIC officials and …

30 Jul
July 30, 2021

To enhance Ease of Doing Business, CBIC has undertaken a series of next generation reforms under the umbrella of ‘Turant …

23 Jul
July 23, 2021

Further to the difficulties reported in electronic filing of Forms 15CA/15CB on the portal CBDT has extended …

09 Jul
July 9, 2021

In continuation to our advocacy efforts on GST legislative and procedural issues, USISPF met with State Finance Minister …

02 Jul
July 2, 2021

Central Board of Indirect Taxes and Customs has issued clarification w.r.t. applicability of Dynamic Quick Response code on …

25 Jun
June 25, 2021

In continuation to our advocacy efforts on GST legislative and procedural issues, USISPF met with the commissioner of the …

18 Jun
June 18, 2021

GST Council slashes GST rates on COVID-19 relief material, including oxygen concentrator for personal imports

04 Jun
June 4, 2021

43rd GST Council meeting under chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman …

28 May
May 28, 2021

In light of the current COVID second wave several issues have emerged for our companies with regards to …

21 May
May 21, 2021

The GST council will be holding its next meeting on May 28th 2021. Basis the feedback received from our members forum ….

14 May
May 14, 2021

CBIC releases Frequently Asked Questions (FAQs) on IGST exemption given to import of specified COVID-19 relief material vide ….

30 Apr
April 30, 2021

Ministry of Finance COVID 19 measures on taxation…

16 Apr
April 16, 2021

CBIC notifies Regulations for verification of identity of importer, exporter and customs broker…

09 Apr
April 9, 2021

CBIC notifies ICEGATE as Common Customs Electronic Portal and relaxes timelines for filing Bill of Entry….

02 Apr
April 2, 2021

The Finance Bill, 2021 was presented by the Hon’ble Finance Minister (FM) Nirmala Sitharaman on 1 February 2021. In the wake of the representations received from …..

26 Mar
March 26, 2021

CBDT has vide a recent notification relaxed the requirement of remunerating fund managers of certain offshore funds in view of amended Rule 10V for availing the special…

19 Mar
March 19, 2021

The Indian Finance Minister presented the Union Budget 2021 on February 1 2021. Key tax announcements made in the Budget which include some clarifications with respect …

12 Mar
March 12, 2021

Recently, CBIC had issued clarifications in respect of applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance of Notification No. …

05 Mar
March 5, 2021

Last week CBIC had issued clarifications in respect of applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance of Notification …

26 Feb
February 26, 2021

The Central Board of Direct Taxes has notified Faceless Assessment (1stAmendment) Scheme, 2021 which seeks to amend Faceless Assessment Scheme …

19 Feb
February 19, 2021

The Indian Finance Minister presented the Union Budget 2021 on February 1 2021. This year’s budget lays focus on the six pillars for reviving the economy – Health and …

22 Jan
January 22, 2021

CBDT has vide a recent notification relaxed the requirement of remunerating fund managers of certain offshore funds in view of amended Rule 10V for availing the special …

08 Jan
January 8, 2021

GST Council Secretariat has taken a progressive step of constitution of the Committee of Officers for Monitoring of Businesses Run through Online Platform …

01 Jan
January 1, 2021

Foreign Tax & Tax Research Division of CBDT has circulated a Breach Protocol prepared as per the international standards and approved by Information Security Committee (ISC) to …

25 Dec
December 25, 2020

The government has notified several changes in the GST law and has also put into effect several amendments brought in vide the Finance Act, 2020.

18 Dec
December 18, 2020

Basis the inputs received from our members, forum has submitted detailed GST legislative and procedural issues across sectors with the CBIC and will soon engage …

11 Dec
December 11, 2020

On December 8, USISPF hosted an rountable discussion with Mr. Rajat Bansal, IRS who is a member of the UN’s subcommittee on Tax Challenges of the …

20 Nov
November 20, 2020

There is a constant debate for India becoming a sought-after and favoured destination for global MNCs and high uncertainty due to the Covid-19 pandemic …

13 Nov
November 13, 2020

The All India Customs consultative group meeting will be held Virtually soon. The Forum will be participating in the meeting to discuss customs issues of our member companies…

02 Oct
October 2, 2020

GST e-invoicing mechanism is mandatory w.e.f. 01.10.2020 for all tax payers having turnover in a financial year exceeding Rs 500 crore. Basis USISPF’s survey on the …

25 Sep
September 25, 2020

Ministry of Finance, Government of India, introduced the first and second phase of country-wide faceless assessment in June 2020 and August 2020, respectively …

16 Sep
September 16, 2020

The Central Board of Indirect Taxes and Customs has decided to roll-out the Faceless Assessment at an All India level in all ports of import and for all imported goods

19 Aug
August 19, 2020

On August 5 forum discussed select issues around challenges/ issues being faced in obtaining endorsements for the purpose of GST refunds with the GST council

August 19, 2020

On August 5 forum discussed select issues around challenges/ issues being faced in obtaining endorsements for the purpose of GST refunds with the GST council

September 16, 2020

The Central Board of Indirect Taxes and Customs has decided to roll-out the Faceless Assessment at an All India level in all ports of import and for all imported goods

September 25, 2020

Ministry of Finance, Government of India, introduced the first and second phase of country-wide faceless assessment in June 2020 and August 2020, respectively …

October 02, 2020

GST e-invoicing mechanism is mandatory w.e.f. 01.10.2020 for all tax payers having turnover in a financial year exceeding Rs 500 crore. Basis USISPF’s survey on the …

November 13, 2020

The All India Customs consultative group meeting will be held Virtually soon. The Forum will be participating in the meeting to discuss customs issues of our member companies…

November 20, 2020

There is a constant debate for India becoming a sought-after and favoured destination for global MNCs and high uncertainty due to the Covid-19 pandemic …

December 11, 2020

On December 8, USISPF hosted an rountable discussion with Mr. Rajat Bansal, IRS who is a member of the UN’s subcommittee on Tax Challenges of the …

December 18, 2020

Basis the inputs received from our members, forum has submitted detailed GST legislative and procedural issues across sectors with the CBIC and will soon engage …

December 25, 2020

The government has notified several changes in the GST law and has also put into effect several amendments brought in vide the Finance Act, 2020.

January 1, 2021

Foreign Tax & Tax Research Division of CBDT has circulated a Breach Protocol prepared as per the international standards and approved by Information Security Committee (ISC) to …

January 8, 2021

GST Council Secretariat has taken a progressive step of constitution of the Committee of Officers for Monitoring of Businesses Run through Online Platform …

January 22, 2021

CBDT has vide a recent notification relaxed the requirement of remunerating fund managers of certain offshore funds in view of amended Rule 10V for availing the special …

February 19, 2021

The Indian Finance Minister presented the Union Budget 2021 on February 1 2021. This year’s budget lays focus on the six pillars for reviving the economy – Health and …

February 26, 2021

The Central Board of Direct Taxes has notified Faceless Assessment (1stAmendment) Scheme, 2021 which seeks to amend Faceless Assessment Scheme …

March 05, 2021

Last week CBIC had issued clarifications in respect of applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance of Notification …

March 12, 2021

Recently, CBIC had issued clarifications in respect of applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance of Notification No. …

March 19, 2021

The Indian Finance Minister presented the Union Budget 2021 on February 1 2021. Key tax announcements made in the Budget which include some clarifications with respect …

March 26, 2021

CBDT has vide a recent notification relaxed the requirement of remunerating fund managers of certain offshore funds in view of amended Rule 10V for availing the special…

April 02, 2021

The Finance Bill, 2021 was presented by the Hon’ble Finance Minister (FM) Nirmala Sitharaman on 1 February 2021. In the wake of the representations received from …..

April 09, 2021

CBIC notifies ICEGATE as Common Customs Electronic Portal and relaxes timelines for filing Bill of Entry….

April 16, 2021

CBIC notifies Regulations for verification of identity of importer, exporter and customs broker…

May 14, 2021

CBIC releases Frequently Asked Questions (FAQs) on IGST exemption given to import of specified COVID-19 relief material vide ….

May 21, 2021

The GST council will be holding its next meeting on May 28th 2021. Basis the feedback received from our members forum ….

May 28, 2021

In light of the current COVID second wave several issues have emerged for our companies with regards to …

June 4, 2021

43rd GST Council meeting under chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman …

June 18, 2021

GST Council slashes GST rates on COVID-19 relief material, including oxygen concentrator for personal imports

June 25, 2021

In continuation to our advocacy efforts on GST legislative and procedural issues, USISPF met with the commissioner of the …

July 2, 2021

Central Board of Indirect Taxes and Customs has issued clarification w.r.t. applicability of Dynamic Quick Response code on …

July 9, 2021

In continuation to our advocacy efforts on GST legislative and procedural issues, USISPF met with State Finance Minister …

July 23, 2021

Further to the difficulties reported in electronic filing of Forms 15CA/15CB on the portal CBDT has extended …

July 30, 2021

To enhance Ease of Doing Business, CBIC has undertaken a series of next generation reforms under the umbrella of ‘Turant …

Aug 6, 2021

In continuation to our advocacy efforts on GST legislative and procedural issues, USISPF will be meeting CBIC officials and …

Aug 13, 2021

Budget 2021 proposed to review some of the existing Customs Exemption Notifications in order to make them more releva …

Aug 27, 2021

CBIC has been receiving bulk verification request from field formations for getting verification done from verifying…

September 3, 2021

The Finance Ministry has announced an extension of the deadlines for e-filings of various income tax returns forms that come under the ambit of the Income-Tax Act,

October 8, 2021

As part of the preparation for the upcoming Budget Session (2022-23), USISPF plans to submit a Pre-Budget Memorandum to the Ministry of Finance…..

October 15, 2021

45th GST council meeting under chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman….

November 1, 2021

In its 45th meeting held on September 17, 2021, the GST Council discussed the need to undertake GST rate rationalization including correction of inverted duty structure …

November 8, 2021

USISPF is organising a pre-budget consultation with Ms Pragya Sahay Saksena, Member (Legislation & Systems) – Central Board of Direct Taxes, Ministry of Finance on …

November 22, 2021

Rarely do you have global consensus between the representatives of almost 140 countries who can find common ground on most issues, let alone on taxes …

November 26, 2021

To enable a policy discussion around the Budget recommendations, USISPF organised a virtual pre-budget consultation with Mr Kamlesh Varshney…

November 29, 2021

The US-India Strategic Partnership Forum (USIPF) in collaboration with KPMG India had organized a pre-budget industry consultation with Mr. …

December 3

In its 45th meeting held on September 17, 2021, the GST Council discussed the need to undertake GST rate rationalization including correction of inverted duty …

December 10

In continuation to our advocacy efforts on GST, Forum met with the GST secretariate to discuss specific issues of the E-commerce sector. …

December 17

The Central Board of Direct Taxes has issued new rules for faceless collection of information from taxpayers, where mismatches are …

December 24

Further to feedback received from our member companies, forum has requested an urgent consideration for extension of GST compliance …

January 07

The WCO Convention on Harmonized Commodity Description and Coding System (the HS convention) came out with …

January 14

The board has extended the due date for filing tax audit reports, report u/s 92E for AY 2021-22 to Feb 15, 2022; Extends due …

February 03

The US-India Strategic Partnership Forum (USIPF) in collaboration with KPMG in India organized a post budget industry…

March 7

The US-India Strategic Partnership Forum (USIPF) in collaboration with KPMG in India organized a post budget industry…

March 11

GSTN issues Advisory for auto-population of e-invoice details into GSTR-1, envisages that generation of e-invoice is mandatory…

March 25

Directorate General of Systems and Data Management (DG Systems), CBIC has issued advisory detailing step-by-step guide for …

April 22

In continuation to our advocacy efforts on Customs laws and procedures, US India Tax forum will be soon organising a discussion…

April 29

In continuation to our advocacy efforts on Customs laws and procedures, US India Tax forum will be soon organising …

May 11

Meeting minutes of US India Strategic Partnership Form (USISPF) webinar on Advanced Pricing Agreements and …

May 12

Forum submitted Representation Seeking Amendment in Customs Duty Benefits Extended to Oil and Gas Sector …

May 19

CBIC has extended the due date for furnishing the return in FORM GSTR-3B for the month of April, 2022 till May 24, 2022 …

May 19

CBIC has extended the due date for furnishing the return in FORM GSTR-3B for the month of April, 2022 till May 24, 2022 …

June 6

CC, C.Ex. & ST Bangalore (Adjudication) v. Northern Operating Systems Pvt. Ltd – Wherein it has been held that …

June 8

The GST council is expected to meet towards the end of this month. USISPF’s tax forum has done multiple…

June 22

The ADVAIT module was launched by CBIC earlier this year to examine and flag variances in import assessable value. The use of the above model is however leading to inordinate delays..

July 06

The Government levied additional duties on exports of petroleum crude, petrol, diesel and aviation turbine fuel to tax the windfall gains earned by petroleum

July 14

Pursuant to the recommendations and decisions taken in the 47th GST Council meeting, the CBIC has given effect to the same via issue of necessary circulars…

July 25

In celebration of the recent 5-year milestone of the GST regime, the US-India Tax Forum hosted Mr. Vivek Johri, Chairman, CBIC, and Mr. D.P. Nagendra Kumar…

Aug 5

The Special Additional Excise Duty (SAED) imposed by the Government of India on domestically produced petroleum products has been revised, following the earlier…

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