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of <h1>Ministry of Finance Sets Special Tax Procedure for Daman and Diu, Dadra and Nagar Haveli; ITC Transfers Allowed.</h1> The notification issued by the Ministry of Finance specifies a special procedure for businesses in the merged Union territory of Daman and Diu and Dadra and Nagar Haveli, effective from January 27, 2020. It mandates these businesses to ascertain tax periods for January and February 2020, pay applicable taxes irrespective of invoice details, and allows the transfer of input tax credit (ITC) between GSTINs. Businesses must notify tax officers about ITC transfers within a month of new registration, and ITC transfers must be reflected in the electronic credit ledger through specific forms. The procedure is valid until July 31, 2020.
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