Sebi offers a way over FPI tax rule hurdle
Reference is invited to the GSTN Advisory dated 20.05.2026 regarding enhancements in the e-Way Bill system, wherein it was informed that “Ship-to GSTIN” shall be mandatorily captured in Bill-to/Ship-to transactions. It was also clarified that where the consignee is an unregistered person, the value “URP” shall be entered in the Ship-to GSTIN field. In this regard, representations have been received from trade, ERP vendors, GSPs, ASPs, private IRPs and other stakeholders seeking clarification on the applicability of the said requirement in cases where e-Way Bill is generated along with e-Invoice or by using IRN. Representations have also been received regarding the Voluntary Closure of e-Way Bill facility and its impact on portal-based and API-based operations.Accordingly, an advisory has been issued to apprise stakeholders of the corresponding changes introduced in the e-Invoice API, e-Way Bill by IRN API and EWB Closure API. It has also been informed that the aforesaid changes have been made available in the Sandbox environment for testing and system preparedness. The changes are scheduled to be implemented in the Production environment with effect from 1st August, 2026.
The GST Appellate Tribunal (GSTAT) has fixed June 30 as the deadline for filing appeals against GST orders passed before April 1, 2026, and no appeals will be accepted after the portal closes, GSTAT Bihar vice-president Manoj Shankar said at an awareness programme organised by the Bihar Industries Association (BIA) in Patna on Tuesday. Addressing industrialists, traders, tax professionals and taxpayers, Shankar said GSTATS are now operational across the country and urged eligible taxpayers to file appeals well before the deadline to avoid last-minute difficulties.
Reference is invited to the GSTN Advisory dated 20.05.2026, wherein it was informed that the following functionalities would be implemented in the E-Way Bill system with effect from 15th June, 2026: 1. Mandatory capture of "Ship To GSTIN" in Bill-To/Ship-To transactions; and 2. Voluntary Closure of E-Way Bill functionality. Representations have been received from trade and industry seeking extension of the implementation timeline, citing the requirement of system changes, testing, API/ERP readiness and master data updation across the taxpayer ecosystem. In view of the above, and to facilitate smooth transition and adequate preparedness by taxpayers, GSPs, ERP providers and other stakeholders, it has been decided to extend the implementation timeline for both the above functionalities.
The Central Board of Indirect Taxes and Customs (CBIC) is drafting rules to operationalise Section 11A of the CGST Act, a provision that allows the government, on the GST Council's recommendation, to waive tax dues for an industry in exceptional cases, according to two government sources familiar with the matter.
