Page 56 - GSTL_2nd July 2020 _Vol 38_Part 1

J30 GST LAW TIMES [ Vol. 38
The decisions were taken by the GST Council on June 12.
No late fee will be charged for those without any tax liability who have
yet to file their returns for the July, 2017-to-January, 2020 period, prior to the
COVID-19 outbreak, said the notification issued on 24-6-2020.
Taxpayers with liability who have not filed their returns can do so by
paying a maximum late fee of ` 500 if the returns are submitted by July 1, 2020.
Small taxpayers with an aggregate turnover of up to ` 5 crore will be ex-
empted from late fees and interest if they file Form GSTR-3B for supplies affected
in the months of May, June and July by September 30.
For the months of February, March and April, the interest rate on filing
of late returns by small taxpayers with turnover of up to ` 5 crore will be reduced
to 9% from 18%, if returns of inward supplies are filed by September 30.
[Source : The Economic Times, New Delhi, dated 26-6-2020]

Cash transporters can claim ITC

The Maharashtra Appellate Authority for Advance Rulings has allowed
Input Tax Credit for companies using vehicles to transport cash to ATMs on the
grounds that the money in this case should be considered as goods and not legal
tender.
The Appellate Authority dismissed the Revenue Department’s conten-
tion that the special purpose vehicles were made by a company - CMS Info Sys-
tems Ltd. - to transport money under Reserve Bank of India guidelines.
“Input Tax Credit against GST paid on purchase, and fabrication of mo-
tor vehicles, used for carrying cash and bullions, is available to the appellant,”
the appellate body said in an order in October.
[Source : The Economic Times, New Delhi, dated 26-6-2020]

Shipments from China face extra Customs checks
Customs officials at Chennai, one of India’s biggest ports, have held
shipments originating from China for extra checks, sources aware of the delays
said.
The increased scrutiny on shipments from China at Chennai Port, which
handles various cargo including automobiles, auto components, fertilisers and
petroleum products, could disrupt supply chains.
While there is no official order from the Government yet, Customs offic-
ers there have told importers to not allow goods coming from China to leave the
port without being inspected, three sources said.
Shipments are typically only subjected to random checks and not man-
datory screening.
An official at the Finance Ministry declined to comment.
A consignment of auto parts being shipped by US automaker Ford Mo-
tor Co. from China to a plant in India has been held at Chennai Port for further
checks, one of the sources said.

GST LAW TIMES  2nd July 2020  56
( A30 )