Indirect Tax

Since its introduction in 2017, the Indian GST regime has gone through several rounds of amendments. Another set of far-reaching amendments will come into force with effect from January 1, 2022.  Some of these changes flow from the amendments to the Central Goods and Services Tax Act, 2017 (“CGST Act”) which were introduced vide the Finance Act, 2021 (“Finance Act”) but brought into effect only from 1 January 2022 through Notification no. 39/2021-Central Tax dated 21 December 2021 (“Notification No. 39 / 2021”).

CBIC Issues Instructions for relaxing import of wireless equipment by Telecom Service Providers as an Ease of doing business initiative to overcome the long-standing Customs issues regarding imports

The Customs Tariff Act, 1975 (Act) was amended vide the Budget 2021 for the introduction of anti-absorption provisions with respect to anti-dumping (AD) and anti-subsidy (CVD) duties by inserting Section 9A (1B) and Section 9 (1B) respectively into the Act.

The DGFT has called for representations from the industry players to the RoDTEP Committee constituted for fixation of RoDTEP rates for AA, SEZ and EOU exports and relating to any anomalies or errors in RoDTEP rates notified in the Appendix 4R.

Last date for applications under various scrip-based schemes including MEIS and SEIS is 31 December 2021. The DGFT has reiterated that no late cut will be available, and all applications post 31 December 2021 will be time-barred. Therefore, all the qualifying exporters should file the applications before 31 December 2021.