ERGO Vol 7 | Issue 1

01. GOODS AND SERVICES TAX

NOTIFICATIONS AND CIRCULARS

− Key GST Notifications and Circulars

CASE LAWS | SUPREME COURT & HIGH COURTS

− Rectification of old returns to claim refund of excess tax paid in cash against missed ITC

– Supreme Court strikes down order of Delhi High Court

− AAR cannot be used as a mechanism to frustrate or nullify inquiry proceedings initiated by DGGI

− GST DRC-01 is not a substitute for a proper show cause notice

02. LEGACY TAXES (CENTRAL EXCISE / SERVICE TAX / VAT / CST)

CASE LAWS | SUPREME COURT & HIGH COURTS

− Fixing of lens on a frame does not amount to manufacture of spectacles

− High Court quashes demand order on inadequate hearing ground; Permits virtual hearing considering Pandemic situation

CASE LAWS | CESTAT

− No bar in claiming adjustment of tax demand from unutilised CENVAT Credit not been carried forward to GST regime

− 'Student recruitment services' to parent company as sub-contractor not taxable as an Intermediary

03. CUSTOMS

CASE LAWS | SUPREME COURT & HIGH COURT S

− Provisional Release granted and conditions relaxed by High Court pending adjudication

− Alternative Writ remedy granted to quash Show Cause Notice issued by DRI

− CFS, ICDs and Shipping Lines are liable to charge penal charges for delays by importers and exporters during the lockdown period

04. TRADE PROTECTION MEASURES

NOTIFICATIONS FOR LEVY OR EXTENTION OF EXISTING LEVY

− Anti-dumping / Countervailing duty

BY INDIA – INITIATION, PROVISIONAL, FINAL INCLUDING REVIEW

− Initiation

− Recommendation by Designated Authorit y

− Sunset Revie w

− Conclusion of Investigatio n

− Against India – Initiation, provisional, final including review

05. FOREIGN TRADE POLICY AND SPECIAL ECONOMIC ZONES

NOTIFICATIONS / CIRCULARS / PUBLIC NOTICES PERTAINING TO CURRENT FTP

− Amendment in Export Policy of Melt Blown Fabric

− Amendment in Export Policy of Syringes

− Amendment in Export Policy of Diagnostic Kits and Reagents

− Issuance of Certificate of Origin (Non-Preferential) for all India jurisdiction

− Tariff Rate Quota amended for imports under India - Mauritius Comprehensive Economic Cooperation and Partnership Agreement

− Provisions regarding supply of SCOMET items to or from EOUs amended

UPDATES PERTAINING TO SEZ

− Procedure for transfer of assets of an exiting SEZ unit notified

− Revised guidelines regarding reorganisation of SEZ units notified

06. OTHER REGULATORY LAWS

FOOD SAFETY AND STANDARDS

FOOD SAFETY AND STANDARDS

− Implementation of mandatory requirement of mentioning FSSAI License or registration number

− Amendment to Food Safety and Standards (Organic Foods) Regulations

BUREAU OF INDIAN STANDARDS

− Articles under compulsory standard marks by Bureau of Indian Standards (BIS)

To read the full article click here

The content of this document do not necessarily reflect the views/position of Khaitan & Co but remain solely those of the author(s). For any further queries or follow up please contact Khaitan & Co at legalalerts@khaitanco.com