Import data visibility in GST returns now shows bill of entry details from customs, with exclusions and a feedback mechanism.
GSTR-2A now displays import and SEZ inward-supply bill of entry details sourced from the ICEGATE customs system via two new tables; the upload is a trial, currently excludes non-EDI port and courier/post imports, and amendment data for bill of entries will be provided in a later update, with taxpayers asked to submit feedback through the GST self-service portal.

Auto-drafted input tax credit statement available monthly to aid ITC reconciliation and streamline return filing; feedback invited.
Introduction of an auto-drafted input tax credit (ITC) statement generated for each registered person from supplier-filed sales returns and related filings, issued as a static monthly statement on a fixed date in the succeeding month. It provides document-level invoice details, a section-wise summary of ITC available and non-available with advisory notes for return reporting, will include import-of-goods data from the customs interface shortly, and is released on a trial basis for taxpayer feedback via the self-service portal.

GST compensation shortfall: two borrowing options proposed for states-Central special window or state market borrowings with cess repayment.
States remain entitled to GST compensation for the transition period, but the GST Compensation Fund is insufficient for 2020 21; the GST Council must decide how to meet the shortfall and may recommend extension of the Compensation Cess. Two options are proposed: a Centre coordinated Special Window for State borrowing with Centre bearing part of interest margin and repayment from extended cess, or individual State market borrowings with principal to be repaid from future cess proceeds and interest met by States, alongside recalibrated borrowing limits.

GST compensation obligation questioned, Council to consider cess adjustments or state borrowing to meet revenue shortfall.
The core dispute concerns whether the Centre is legally obliged to fund GST compensation shortfalls from its coffers or whether the GST Council should adopt measures-such as state market borrowing, increasing or expanding the compensation cess, or rationalising GST rates-to replenish the compensation corpus, following an Attorney General opinion that the Centre may not be statutorily bound to provide additional budgetary support.

Interest on delayed GST payment applied prospectively; past-period recoveries will not be pursued, ensuring taxpayer relief.
The notification changes interest computation to the net liability basis and has been issued for prospective application due to technical limitations; tax administrations will not pursue recoveries for prior periods, preserving the GST Council's decision to provide relief to taxpayers.

GST compensation obligation questioned after AG opinion; Council to decide funding and borrowing options for shortfalls.
The Attorney General advised that there is no legal obligation on the Central Government to pay GST compensation shortfalls to states and that the GST Council must decide how to address the compensation fund deficit, including considering market borrowing as a funding mechanism.

GST revenue collections declined year on year; import receipts fell more than domestic receipts, affecting central and state settlements.
Gross GST receipts for July 2020 comprised CGST, SGST, IGST (including collections on import of goods) and cess, with regular IGST settlements made to CGST and SGST producing specified net central and state shares. Monthly receipts were lower than the same month last year, with import revenues falling more than domestic transactions, and prior-month receipts inflated by delayed payments permitted under COVID-19 relief; filing relaxations for smaller taxpayers remain in force for the announced relief period.