Bizsol Update for the month December 2022 Article on ‘The Story of a Storied Bhujia Billionaire Company” by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt Ltd. Article on ‘GSTR-9 & GSTR-9C – All aspects, Mandatory & Optional Tables for FY 2021-22’ by CMA Amit Devdhe, Sr. Advisor Bizsolindia Services Pvt Ltd. Changes in GST, …
Others: Clarification on encashment of National Savings Certificates (IX Issue): It is clarified that, though NSC IX Issue is a discontinued scheme, NSC IX Issue certificates may be discharged / encashed / closed in any Departmental Post Office, following the procedures prescribed in Chapter 13 of POSB CBS Manual Volume (Corrected up to 31.12.2021). Also …
Others:Clarification on encashment of National Savings Certificates (06.12.2022) Read More »
Others: New activities such as Drone manufacturing, Portable Petrol Pump/Portable Service Stations, Biomass pellet manufacturing, etc. has been included to NIC Code. [Notification No. F. No.5/2(10)/2022/E-P&G/Policy dated 3rd Dec 2022]
Others: Draft Food Safety and Standards (Labelling & Display) Amendment Regulations, 2022 has been presented by Food Safety and Standards Authority of India for certain further amendments to Food Safety and Standards (Labelling & Display) Regulations, 2020, with previous approval of the Central Government. [Notification F. No. STD/SP-08/A1.2022/N-01 dated 30th Nov 2022]
Legal Metrology: Legal Metrology (Packaged Commodities) Rules, 2011 will now come into force w.e.f. 1st Jan 2023. [Notification No. G.S.R. 859(E) dated 30th Nov 2022]
RBI/FEMA: Revised Regulatory Framework for Urban Co-operative Banks (UCBs) w.r.t. Net Worth and Capital Adequacy has been issued. [Notification No. RBI/2022-23/146 DOR.CAP.REC.No.86/09.18.201/2022-23 dated 1st Dec 2022]
Central Excise: Appointment of the Commissioner of Central Excise and Service Tax (Appeals) as Central Excise officer for the entire territorial jurisdiction of the Principal Chief Commissioner/ Chief Commissioner of Central Excise and Service Tax for the purpose of passing Orders-in-Appeal for the CX & ST appeals filed after 30.06.2017. [Notification No.04/2022 – Central Excise …
Customs: CBIC notifies Customs Exchange rate for Import & Export w.e.f. 02.12.2012. [Notification No.101/2022-Customs (NT) dated 1st Dec 2022]
GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST. It consists of details regarding the outward and inward supplies made/received during the relevant financial year under different tax heads i.e. CGST, SGST & IGST and HSN codes. It is a consolidation of all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) …
Exactly a month back on 3rd November 2022 Bhikaji Food International Ltd. barged in through the doors of Bombay Stock Exchange with an IPO offering its shares at a price range of Rs.285 to Rs.300 a share thereby mopping up a sum of Rs.880 Crores. The company had made a claim that it is one …
SEBI: Updated Operational Circular issued for listing obligations and disclosure requirements for Non-convertible Securities, Securitized Debt Instruments and /or Commercial Paper.[Circular No. SEBI/HO/DDHS/DDHS_Div1/P/CIR/2022/0000000103 dated 1st Dec 2022]
SEBI: Extension of timeline for implementation of Standardized industry classification by CRAs. [Circular No. SEBI/HO/DDHS/DDHS-RACPOD2/P/CIR/2022/168 dated 1st Dec 2022]
Income Tax: CBDT notifies Federation International de Football Association Under-17 Women’s World Cup, 2022 as the international sporting event for Income Tax Exemption under Section 10(39). [Notification No. 126/2022-Income Tax dated 30th Nov, 2022]
Income Tax: Time limit reduced to 21 days for submitting response to intimation u/s 245 by AO. [DGIT(Systems)/Instruction/245/2022-23 dated 28th Nov 2022]
DGFT Validity of Pre-Shipment Inspection Agency has been extended from 3rd Dec 22 to 31st Dec 22. [Public Notice No.39/2015-2020 dated 30th Nov 2022]
DGFT: Annual SCOMET Update – 2022 has been notified to amend Appendix 3 (SCOMET Items) to Schedule-2 of ITC (HS) Classification of Export and Import Items, 2018. [Notification No. 46/2015-2020 dated 30th Nov, 2022]
Central Excise: Reduction in the Special Additional Excise Duty on Diesel. [Notification No.41/2022-Central Excise dated 1st Dec 2022]
Central Excise: Reduction in the Special Additional Excise Duty on production of Petroleum Crude [Notification No.40/2022-Central Excise dated 1st Dec 2022]
Customs: Requirement of Health Certificate accompanied with the import of food consignments is extended till 31st Dec 2022 [Instruction No.32 /2022-Customs dated 28th Nov 2022]
Customs: Improvements in SWIFT, Integration of ICEGATE with AQCS-ICS (Animal Quarantine and Certification Services-Import Clearance System) is effective from 01.12.2022. [Circular No. 24/2022-Customs dated 28th Nov 2022]
