Team Bizsol

Income Tax: CBDT designated Special Courts for Economic Offences in the state of Jharkhand. (Notification No. 42/2023-Income Tax [S.O. 2661(E).)

SEBI: SEBI introduced the Securities and Exchange Board of India (Alternative Investment Funds) (Second Amendment) Regulations, 2023. (Notification No. SEBI/LAD-NRO/GN/2023/132)

RBI: RBI has released a notification regarding the Sovereign Gold Bond Scheme 2023-24. (Notification No. RBI/2023-24/44 IDMD.CDD.No.S650/14.04.050/2023-24)

Customs: Govt simplifies Regulatory Framework for e-commerce Export of Jewellery via Courier Mode. (Circular No. 17/2023-Customs).

Customs: CBIC provides the updated exchange rates for converting foreign currencies into Indian rupees and vice versa for imported and exported goods. (Notification No. 44/2023 – Customs (N.T.)

Customs: CBIC provides updated tariff values for rude palm oil, palmolein, crude soya bean oil, brass scrap, gold and silver in various forms, including bars, coins, and findings used in jewelry and areca nuts, which are used as a reference for assessing customs duty on imports. (Notification No. 45/2023-Custom (N.T.), [S.O. 2663(E))

Customs: CBDT and Customs has issued Notification which introduces amendments to the Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2010. (Notification No. 43/2023-Customs (N.T.) [G.S.R. 440(E)])

Corporate Law: Access can be made for National pension scheme (NPS) Statement Transactions via DigiLocker. (Circular No: PFRDA/2023/19/Sup-CRA/05)

RBI: RBI has recently modified the guidelines regarding agency commission for the collection of indirect taxes through the ICEGATE payment gateway. (RBI/2023-24/43 CO.DGBA.GBD.No.S295/31-12-010/2023-2024 dated 14-06-2023)

DGFT: Amendment has been made by DGFT in Copra Import Policy under ITC (HS) Code 12030000. (Notification No. 11/2023-DGFT dated 14-06-2023)

GST: Department released Instruction outlining stricter guidelines for the processing of applications for GST registrations. (Instruction No. 03/2023-GST [F. No. CBIC- 20006/15/2023-GST dated 14-06-2023)

Customs: Govt reduces BCD on Refined Soya Bean Oil & Refined Sunflower oil to 12.5%. (Notification No. 39/2023-Customs [G.S.R. 439(E) dated 14-06-2023.)

RBI: RBI announced an extension of time for the achievement of Priority Sector Lending (PSL) targets by Primary (Urban) Co-operative Banks (UCBs). (RBI/2023-24/42 DOR.CRE.REC.18/07.10.002/2023-24 dated 08-06-2023)

RBI: RBI issued circular addressing Default Loss Guarantee (DLG) in Digital Lending. (RBI/2023-24/41 DOR.CRE.REC.21/21 .07.001/2023-24 dated 08-06-2023)

DGFT: DGFT Announces New Import Guidelines for Watermelon Seeds until October 2023. (Public Notice No. 13/2023-DGFT [F. No. 01/53/8/Misc/AM22/M-1/IC.])

Customs: CBIC notifies Exchange rate of ‘South African Rand’ for Import & Export wef 13.06.2023. (Notification No. 42/2023- Customs (N.T.))