Weekly Updates

JUNE
19

June 19, 2021

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

JUNE
4

June 4, 2021

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

MAY
28

May 28, 2021

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

MAY
21

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
14

May 14, 2021

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

APR
30

April 30, 2021

Ministry of Finance COVID 19 measures on taxation…

APR
16

April 16, 2021

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

APR
09

April 09, 2021

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

APR
02

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 …..

Mar
26

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…

Mar
19

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 …

Mar
12

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

Mar
05

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

Feb
26

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

FEB
19

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 …

Jan
22

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 …

Jan
8

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

Jan
1

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 …

Dec
25

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.

Dec
18

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 …

Dec
11

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 …

Nov
20

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 …

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.

Nov
13

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

Oct
02

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

Sep
25

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

Sep
16

Aug
19

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

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