GSTN issues advisory on Filing TRAN-1/2 Forms to claim Transitional Credit.

All the aggrieved taxpayers who wish to file or revise TRAN-1/2 are hereby informed that the present process flow of TRAN filing is different from the filing process in the financial year 2017-18. As per the present flow the transitional credit availed by the taxpayer in TRAN-1/2 forms shall be verified by the jurisdictional tax officer before the credit entry is made in the respective ledgers.

Modified scheme for setting up of Semiconductor facilities in India

The modified scheme is issued with the objective to attract investments for setting up Compound Semiconductors / Silicon Photonics (SiPh) / Sensors (including MEMS) Fabs/ Discrete Semiconductors Fabs and Semiconductor ATMP / OSAT facilities in the country to strengthen the electronics manufacturing ecosystem and help establish a trusted electronics value chain in the areas of application of these fabrication and packaging technologies.

MNRE issues clarification on applicability of central financial assistance (CFA) available under Rooftop Solar (RTS) Programme Phase-II for solar systems installed under Virtual Net Metering (VNM) arrangement.

The Ministry is implementing Rooftop Solar (RTS) Programme Phase-II and providing CFA for installation of RTS plant in residential sector by individual household or by GHS/RWA. Some of the States and UTs are having provision of Virtual Net Metering, wherein a group of consumers of a Distribution company can install a solar plant within the area of the same company and avail benefits of net metering against the solar powered into the grid from that solar plant.