Team Bizsol

SEBI reduces lock-in period for promoter contribution from 3 years to 18 months. (Notification No. SEBI/LAD-NRO/GN/2021/45 dtd. 13th August 2021)

The SEBI has notified the SEBI (Substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations, 2021 wherein the requirement of continuous disclosure by a person, persons acting in concert, and the promoter of every target company has been dispense with. (Notification No. SEBI/LAD-NRO/GN/2021/46 dtd. 13th August 2021)

The export of COVID-19 Rapid Antigen testing kits falling under the ITC (HS) codes – Ex 3822 and Ex 3002 – or falling under any other HS Code has been put under the restricted category, with immediate effect. (Notification No.18/2015-2020 dtd.16th August 2021)

The President has given assent to;  “The Inland Vessels Act, 2021”  on 11th August 2021 (Bill No. 24 of 2021) “The Limited Liability Partnership (Amendment) Act, 2021” on 13th August 2021 (Bill No. 31 of 2021) “The Tribunals Reforms Act, 2021” on 13th August 2021 (Bill No. 33 of 2021) “The Taxation Laws (Amendment) Act, 2021” on …

The President has given assent.(16.08.2021) Read More »

The Central Government passed the order for Public Procurement Policy for MSEs Amendment Order, 2021.  (Notification No. S.O. 3237(E) dtd. 11th August 2021)

The Ministry of Environment, Forest and Climate Change, has notified the Plastic Waste Management Amendment Rules, 2021. Thickness of plastic carry bags increased from 50 to 75 microns from 30th September, 2021 and to 120 microns with effect from the 31st December, 2022. ( Notification dtd. 12th August 2021)

Department of Pharmaceuticals extended the time period for submission of application for the Production Linked Incentive (PLI) scheme for pharmaceuticals to August 31st 2021. (Corrigendum/Addendum dtd. 13th August 2021).

RoSCTL Scheme to be continued till March 31, 2024 for Apparels, Garments and their made-ups. (Ministry of Textile Notification dtd. 13th August 2021)

Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver. (Notification No. 67/2021-Customs (N.T.) dtd. 13th August 2021)

President has given assent to “The Insolvency and Bankruptcy Code ( Amendment) Act , 2021” on 11th August 2021.

Manual filing of disclosures under SEBI ( Prohibition of Insider Trading) PIT Regulations 2015 is no longer mandatory. (Circular SEBI/HO/ISD/ISD/CIR/P/2021/617 dtd. 13th August 2021)

Listed entities to disclose shareholding, segregated into promoter(s) & promoter group. (Circular SEBI/HO/CFD/CM D/CIR/P/2021/616 dtd. 13th August 2021)

Central Government revokes the anti-dumping duty imposed on ” Viscose Staple Fibre excluding Bamboo Fibre”, falling under tariff item 5504 to 10 00. (Notification No. 44/2021- Customs (ADD) dtd. 12th August 2021)

Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver. (Notification No. 66/2021-Customs (N.T.) dtd. 11th August 2021)

Mobile signal repeater/booster and walkie-talkie sets falling under the category of Transmission apparatus incorporating reception apparatus ( ITC HS Code – 8525 60 00) classified under ‘free’ category under the Import Policy will not be permitted to be imported except against a license to be issued by the Wireless Planning & Coordination (WPC) wing of …

Mobile signal repeater/booster and walkie-talkie sets falling under the category of Transmission.(13.08.2021) Read More »

RBI has provided that Cash-out at any ATM of more than ten hours in a month will attract a flat penalty of Rs.10,000/- per ATM with effect from 1st October 2021. (Circular No. RBI/2021-22/84 DCM (RMMT) No. S153/11.01.01/2021-22 dtd. 10th August 2021)

CBDT has notified New Rule 10RB. Relief in tax payable under sub-section (1) of Section 115JB due to operation of subsection (2D) of Section 115JB and FORM No 3CEEA. (Notification No. 92/2021- Income Tax dtd. 10th August 2021)

CBDT establishes 7 Interim Boards for Settlement having headquarters at Delhi, Kolkata, Mumbai and Chennai. (Notification No. 91/2021- Income Tax dtd. 10th August 2021)

SOP is prescribed for completing the penalties under the Faceless Penalty Scheme, 2021. (Instructions F. No. A.A. (N.A.F.A.C)-1/2021-22/439 dtd. 9th August 2021)