DGFT: Transition period for mandatory filing of applications for Non-Preferential Certificate of Origin through the e-CoO Platform has been further extended till 31st December 2023. [Trade Notice No. 27/2022-2023-DGFT Dated: 28th March 2023.]
Income Tax: CBDT notifies Consequences of PAN becoming inoperative under Rule 114AAA. [Circular No. 03 of 2023-Income Tax Dated 28th March, 2023]
Income Tax : Central Board of Direct Taxes (CBDT) has extended the last date to link Permanent Account Number (PAN) with Aadhaar to June 30. [Notification No. 15/2023 Date: 28th March, 2023]
DGFT: Export benefits under RoDTEP extended to 18 textile items. [Notification No: 63 /2015-2020-DGFT | Dated: 25th March, 2023]
GST • With effect from the 1st March, 2023, 5% GST rate has been notified on Rab, when sold in pre- packaged and labelled, and Nil GST, when sold in other than pre- packaged and labelled. [Circular No. 191/03/2023-GST dated 27th March 23.]
After 5 years of introduction of GST, in spite of the provisions in the section taxpayers had to approach Hon. High Courts of respective Jurisdiction, since there were no alternative remedies available to the taxpayer in absence of formation of Appellate Tribunal and benches thereof. Subsequent to Madras High Court decision in the case of …
High Court of Gujarat held that demand of tax and Penalty was not sustained when e-way bill expired during transit due to truck having remained in non-motorable condition without any intention to evade payment of tax.
DGFT: Import of Urea (Agricultural grade) on Government account is allowed through Indian Potash Limited (IPL). [Notification No. 61/2015-2020-DGFT Dated:22 March 2023]
DGFT: Export of Biofuel from Special Economic Zones (SEZ)/Export Oriented Units (EoUs), are allowed for Fuel as well as Non-Fuel purposes without any restriction when produced using only imported feed stock. [Notification No. 62/2015-2020-DGFT | Dated: 22nd March, 2023]
Customs Recently High Court of Gujarat held that show cause notice cannot be issued beyond period of three years of payment of duty drawback.
GST : Advisory for the taxpayer wishing to register as “One Person Company” in GST. [Press Release No. 574 dated 21st March 2023]
Excise: Govt increases SAED on Diesel to Rs. 1 per litre wef 21.03.2023. [Notification No. 14/2023-Central Excise | Dated: 20th March, 2023] Govt reduces SAED to Rs. 3500 per tonn on production of Petroleum Crude wef 21.03.2023. [Notification No. 13/2023-Central Excise | Dated: 20th March, 2023]
Customs Vadodara airport has been added as Customs Airport for Unloading of baggage and loading of baggage purpose. [Notification No. 16/2023-Customs (N.T.) | Dated : 18th March, 2023]
IBC Hon’ble Apex Court Supreme Court held that after passing of Resolution Professional by NCLT, cheque bounce case will cease only against Corporate Debtor if taken over by new management and not against signatories/ ex-directors.
RBI: The Government of India has decided that the date of closure of residual transactions for the month of March 2023 be fixed as April 10, 2023. [Notification RBI/2022-23/184 DGBA.GBD.No.S1469/42-01-029/2022-2023 dated March 16, 2023 ]
Corporate Laws: MCA established of Centre for Processing Accelerated Corporate Exit (also called C-Pace) which facilitates and speed up the voluntary winding-up of companies from the currently required two years to less than six months. [Notification F. No. A-42/21/2022-Ad.II-MCA dated 17th March 2023]
DGFT: DGFT amends policy for import of marble from Bhutan. [Notification No. 60/2015-2020-DGFT | Dated 14 March, 2023]
Customs: CBIC releases technology related descriptions of Telecom equipment. [Circular No. 08/2023 Dated: 13.03.2023]
At Bizsolindia, our company values are at the core of everything we do. And on this International Consumer’s Right Day, we want to reaffirm our commitment to our customers. We at Bizsol have taken the oath and committed to provide services as committed. We give below the link of our oath.
Corporate Law: Govt notifies Cryptocurrency – Virtual digital assets under PMLA, 2002 [Notification No. S.O. 1072(E). dated 7th March 2023]
