Prohibition on import of air conditioners with refrigerant
The Directorate General of Foreign Trade videNotification No. 41/2015-2020 dated 15 October 2020 has prohibited the import of air conditioners with refrigerants.
In terms of the prohibition, import of air conditioners containing refrigerants have been prohibited. This appears to be in line with the Government’s emphasis on boosting the domestic manufacturing sector in line with the vision of indigenous self-sufficiency. However, since the aforesaid notification only prohibits import of air conditioners with refrigerants, importers of air conditioners may consider alternate structures for importing air conditioners which comply with the notification as well as align with their commercial requirements.
Extension in dates for filing GST Annual Return and Reconciliation Statement for 2018-19
The Government has acceded to the request of the industry for extending the deadlines for filing the annual return (Form GSTR-9) and the reconciliation statement (Form GSTR-9C) for the financial year 2018-19 as a relief measure on account of the Covid-19 related restrictions and lockdowns. The revised due date for such return and statement is 31 December 2020 (Notification No.80/2020 – Central Tax dated 28 October 2020).
It is relevant to note that filing of the annual return is now optional for taxpayers with aggregate turnover less than INR 2 crore (Notification No.77/2020 – Central Tax dated 15 October 2020).
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