DGFT : Export benefits under RoDTEP extended to 18 textile item. (28.03.2023)
DGFT: Export benefits under RoDTEP extended to 18 textile items. [Notification No: 63 /2015-2020-DGFT | Dated: 25th March, 2023]
GST : W.e.f. 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 & labelled. (28.03.2023)
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.]
Blog on “Major Relief to Reduce the Litigation under GST” by CMA Ashok B Nawal, Founder of Bizsolindia Services Pvt. Ltd. (April 2023)
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 …
Judicial Corner : 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. (27.03.2023)
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). (24.03.2023)
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. (24.03.2023)
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]
Judicial Corner : Recently High Court of Gujarat held that show cause notice cannot be issued beyond period of three years of payment of duty drawback. (23.03.2023)
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. (23.03.2023)
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 & Petroleum Crude (23.03.2023)
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. (21.03.2023)]
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]
Judicial Corner: 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. (20.03.2023)
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 (20.03.2023)
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. (20.03.2023)
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. (17.03.2023)
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. (17.03.2023)
Customs: CBIC releases technology related descriptions of Telecom equipment. [Circular No. 08/2023 Dated: 13.03.2023]
International Consumer’s Right Day!!
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 (15.03.2023)
Corporate Law: Govt notifies Cryptocurrency – Virtual digital assets under PMLA, 2002 [Notification No. S.O. 1072(E). dated 7th March 2023]
Bizsol Update (March 2023)
Bizsol Update for the month March 2023: From The Desk of Chairman Article on The Adani Saga : The tumultuous journey of a chequered Indian Entrepreneur in the days of neoliberalism” by CS Venkat R. Venkitachalam, Chairman, Bizsolindia Services Pvt. Ltd. Changes in GST, FTP, Central Excise, Customs, Income Tax, Service Tax, MVAT, Company law, …
Judicial Corner (14.03.2023)
Excise & Service Tax Karnataka High Court held that Deficiency in refund claim can’t be made as a ground by Dept. to pass refund order beyond statutory period of 3 months and Interest is to be paid to assessee if refund is not made within prescribed period of three months.
SEBI: All existing investors are required to ensure linking of their PAN with Aadhaar number prior to March 31, 2023, for continual and smooth transactions in securities market and to avoid consequences of non-compliance.(13.03.2023)
SEBI: All existing investors are required to ensure linking of their PAN with Aadhaar number prior to March 31, 2023, for continual and smooth transactions in securities market and to avoid consequences of non-compliance. [Press Releases No. 05/2023]
