NICAI Updates:
1. CBIC said in a circular that Customs Department will roll out pan-India faceless assessment for all imported goods by October 31. While faceless assessment for import of certain goods was already rolled out in Bengaluru and Chennai ports on June 8, it was extended to Delhi and Mumbai Customs on August 3. This will now be extended in phases to all ports across the country by December 31.
2. Gujarat High Court allowed Britannia Industries to petition for a claim of refund of Input Tax Credit (ITC) distributed by Input Service Distributor (ISD) under Section 54 of the CGST Act. The Petitioner, having a unit situated in Special Economic Zone (SEZ), filed an application for refund in Form GST RFD-01A with regard to the credit of Integrated Goods and Services Tax (IGST) distributed by ISD for services related to the SEZ unit.
3. MCA vide General Circular no. 28/ 2020 dated 17th August 2020 has issued Clarification on Extension of Annual General Meeting (AGM) for the financial year ended as at 31.03.2020- Companies Act, 2013.
4. Applications by iPhone contract makers Foxconn, Pegatron and Wistron as well as Samsung, Karbonn, Lava and Dixon to export mobile phones worth around $100 billion from India have been cleared by the empowered group.
