I. Today's Headlines:                        

i) Dept. to launch new e-filing portal on June 7, 2021; existing portal won't available from June 1-6

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ii) CBIC notifies several amendments to registration, eway-bill and refund rules

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iii) CBIC issues SOPs for extension of time limit to apply for revocation of cancellation of registration

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iv) Amendments introduced in CGST Rules on May 18, 2021, and its implications

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v) The Pre-Pack Ordinance 2021 - The Challenges And Way Forward

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vi) NBFCs had objected to RBI rules on auditor change, called for expert panel

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II. Useful Updates on GST:

[Contribution by : CA. Bimal Jain Ji]

i) GST leviable on reimbursed amount, being advance payment by recipient towards cost incurred for provision of software services

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ii) ITC cannot be utilised when nexus between input and final product is absent

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iii) Anticipatory bail granted in case of absence of concrete incriminating evidence to implicate the assessee

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iv) Creditors cannot initiate proceedings to recover claims which are not part of the approved resolution plan under IBC

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v) Circular cannot stand in the way of a benefit offered under statutory provisions

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III. Useful Updates on GST:

[Contribution by : CA. Rajat Mohan Ji]

Synopsis of all changes in GST is given below for your quick reference:

i) GST litigation support communique Series (Part-III)

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IV. Useful Updates:

[Contribution by : CA Jigneshkumar Parikh Ji]

i) Important Judgments

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