MCA: LLPs are granted an extension for filing Form LLP BEN-2 and LLP Form No. 4D without incurring additional fees and the deadline for such filings is extended till 15th May 2024. [General Circular No. 01 /2024 dtd 7th February 2024]
Income Tax: CBDT notifies Tax Information Exchange Agreement between India and Samoa [Notification No. 21/2024 dtd 7th February 2024]
DGFT: The date for implementation of Track and Trace system for export of drug formulations w.r.t maintaining the Parent-Child relationship in packaging levels and its uploading on Central Portal has been extended upto 01-02-2025 for both SSI and non-SSI manufactured drug [Public notice no 39/2023 dtd 2nd February 2024]
Excise: Special Additional Excise Duty on production of Petroleum Crude increased from Rs. 1700per tonne to Rs. 3200per tonne. [Notification No. 05/2024-Central Excise dtd 2nd February 2024]
Customs: CBIC extends the exemption from 31/03/2024 to 30/09/2024 by amending following 33 notifications (refer attached excel file for publishing) Customs Notification No. 07/2024 dated 29.01.2024 Sr.No Customs Notification No and Date Exemption to 1 16/1965 dated 23.01.1965 Good exported to foreign countries for display in show-rooms of Government of India 2 80/1970 dated 29.08.1970 …
Customs: CBIC has extended the exemption date from 31/03/2024 to 30/09/2024 for following items a) Good used for manufacturing of Ethylene Vinyl Acetate sheets or backsheets which are used in manufacture of solar photovoltaic cellls following under HSN 3208, 3815, 3901 & 3920 b) Solar Tempered Glass for manufacturing of solar cells / panels or …
Customs:CBIC has extended the exemption date from 31/03/2024 to 30/09/2024 (30.01.2024) Read More »
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Income Tax : CBDT has notified Income Tax Return (ITR) Form ITR-6 for AY 2024-25. [Notification No 16/2024 – Income Tax]
Central Excise: CBIC has extended the applicable date of additional duty on unblended diesel from 01/04/2024 to 01/04/2025. [Notification No 4/2024 – Central Excise]
Customs: Customs Duty not required to be paid on import of specified wearable goods from 01.02.2022 to 27.04.2023 [Notification No 7/2024 – Customs (NT)] Customs Duty not required to be paid on import of specified hearable goods from 01.02.2022 to 27.04.2023 [Notification No 8/2024 – Customs (NT)]
DGFT: The import policy of ‘Glufosinate Technical’ under ITC (HS) Code 38089390 is revised from “Free” to “Prohibited”. However, import shall be free if CIF value is Rs. 1289/- or above per Kg. This will be effective from 25.01.2024 [Notification No. 58/2023 – DGFT]
GST: GSTN enabled the functionality to furnish a Letter of Undertaking (LUT) for the financial year 2024-25 on the GST Portal.
Customs: The Central Board of Indirect Taxes and Customs (CBIC) has revised the rates are set at 4.35% for spent catalyst or ash containing precious metals (7112), 5% for gold or silver findings (7113), and 5% for coins of precious metals (7118). [Notification No. 05/2024-Customs]
Customs : The government has raised the import duty for spent catalysts that contain precious metals to14.35%, which comprises a 10% Basic Customs Duty (BCD) and an additional 4.35% under the All Industry Duty Drawback (AIDC). However these goods have been given exemption from the Social Welfare Surcharge. [Notification No. 03, 04 & 05/2024-Customs]
Ministry of Finance: The Government of India has expanded the spectrum of financial services under International Financial Services Centre Authority Act, 2019 to include Book-Keeping, Accounting Services, Taxation Services and Financial Crime Compliance Services subject to they are provided to non-residents whose business has not been set up by splitting, reconstructing, or reorganizing existing businesses …
GST: In a move to enhance the convenience for taxpayers registered under the Goods and Services Tax (GST), the GSTN (Goods and Services Tax Network) has introduced new payment under e-payment through Credit Card, Debit Card and Unified Payment Interface (UPI). [Press Release No 622]
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DGFT: It has been clarified by DGFT that the restriction of Policy circular no 6/2023 – 24 dated 19/10/2023 is restricted only to Laptop, Tablets, All in One Personal Computers, ultra small form factor computer and Server falling under HSN 8471 and not to Desktop Computers or other goods falling under HSN 8471. [Policy Circular …
DGFT: With a strategic move to support businesses and maintain the integrity of pre-shipment inspection processes, DGFT has extended the validity of Pre-Shipment Inspection Agency (PSIAs) from 27/12/2023 to 31/03/2024. [Public Notice No 37/2023 – DGFT]
