GST Daily – Editorial Team
Dear Reader,
Today’s newsletter analytically summarizes the top GST stories reported at taxmann.com.
The CBIC has issued notification to provide that E-invoicing shall be mandatory for taxpayers having turnover more than 20 crores w.e.f. 1.4.2022. In this regard, amendment is made in the Notification No. 13/2020 - Central Tax, dated the 21st March, 2020. ? ? ?
Currently, the threshold limit is 50 crores and a taxable person is required to generate E-invoice if its turnover exceeds 50 crores. Now, this threshold has been reduced to 20 crores for generating E-invoice from April 1st, 2022 ? ? ?
The Directorate General of Foreign Trade (DGFT) has amended the export policy of Injection Remdesivir and Remdesivir Active Pharmaceutical Ingredients (API), Amphotericin-B injections, Enoxaparin (Formulation and API) and Intra-Venous Immunoglobulin (IVIG) (Formulation and API). ? ? ? ? ?
Now, the export policy has been revised to ‘Free’ from existing policy of ‘Restricted’ with immediate effect. In this regard, notification has been issued.
That’s it from us for today! Stay Tuned for more updates from?Taxmann.com
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