GST: Department has planned for a Disaster Recovery Drill on 01/11/2022 08:00 PM .GST system services will be unavailable till 02/11/2022 02:00 AM.
DGFT Restriction on export of sugar (Raw, Refined and White Sugar) has been extended from 31st October 2022 to 31st October 2023. (Notification no 40/2015-20 dtd 28th Oct 2022)
Income Tax: Due Date for filing of TDS return (Form 26Q) for Second Quarter for FY 2022-23 has been extended from 31st October 2022 to 30th November 2022. (Circular no 21/2022 dtd 27th Oct 2022)
GST: Due to technical issues, due date for GSTR-3B for Sept 2022 has been extended from 20th Oct 2022 to 21st Oct 2022.
Hon. Supreme Court in the case of STATE TAX OFFICER Vs RAINBOW PAPERS LIMITED in the CIVIL APPEAL NO. 1661 OF 2020 has allowed the appeal filed by Gujarat State VAT Officer, which was filed against the order of NCLAT, wherein NCLAT has dismissed the appeal filed by State Tax Officers on two grounds that …
SEBI: Stock brokers registered under the debt segment of the Stock Exchanges will be allowed to place/ seek bids on the RFQ (Request for Quote) platform on behalf of clients, in addition to the existing option of placing bids in a proprietary capacity. The said circular will be effective from 1st January 2023. (SEBI/HO/DDHS/DDHS_Div1/P/CIR/2022/142 dtd …
Customs: Amendment made in Project Import Regulations, 1986 where ‘All Power Plants and Transmission Projects’ will now be substituted with ‘All Power Plants and Transmission Projects, other than solar power plants or solar power projects’ (Notification No. 54/2022-Customs dtd 19th Oct 2022)
Customs: Anti-Dumping duty is imposed on Electrogalvanized Steel falling under tariff heading 7209, 7210, 7211, 7212, 7225 and 7226 of the First Schedule to the Customs Tariff Act, 1975 originating in or exported from Korea RP, Japan and Singapore for a period of 5 years. (Notification No. 29/2022-Customs (ADD) dtd 19th Oct 2022).
Central Excise: Special Additional Excise Duty on Diesel has been increased from Rs. 3.50 per litre to 10.50 per litre. (Notification No. 35/2022-Central Excise dtd 15th October 2022)
Central Excise: Special Additional Excise Duty (SAED) on production of Petroleum Crude has been increased from Rs. 8,000/- per tonne to Rs. 11,000/- per tonne and on export of Aviation Turbine Fuel from Nil to Rs. 3.50 per litre. (Notification No. 34/2022-Central Excise dtd 15th October 2022)
Bizsol Update for the month October 2022 Changes in GST, FTP, Central Excise, Customs, Income Tax, Service Tax, MVAT, Company law, FEMA/ RBI , SEZ. Important due dates for the statutory payments for the month. Important High Court/ CESTAT / ITAT Decisions during the month. Bizsol Update October 2022
RBI: The RBI has directed credit information companies to appoint internal ombudsman by April 1, 2023.It has issued Reserve Bank of India (Credit Information Companies- Internal Ombudsman) Directions, 2022. Notification RBI/2022-23/124 CEPD.PRD.No.S806/13-01-008/2022-23, Dated October 6, 2022
GST: New Functionalities are introduced for Taxpayers on GST Portal for Registration, Returns and Refunds.
GST: In Accordance with the judgement of Supreme Court of India in the matter of Union of India vs. M/s. Filco Trade Centre Pvt. Ltd. CBIC has allowed the aggrieved taxpayers to file Form TRAN-1/ TRAN-2 to claim the transitional Input Tax Credit (ITC). The guidelines for the same are available on GST Portal.
SEBI: SEBI has extended the timeline for entering the details of the existing outstanding non-convertible securities in the ‘Security and Covenant Monitoring’ system hosted by Depositories by one month i.e on or before October 31, 2022. Circular No SEBI/HO/DDHS/RACPOD1/CIR/P/2022/136, dated the 3rd October, 2022.
Customs: CBIC has increased the rate of Basic custom duty imposed on platinum from 10.75% to 15.40%. Notification No. 52/ 2022-Customs, dated the 3rd October, 2022.
Customs: CBIC has increased the rate of Agriculture Infrastructure and Development Cess (AIDC) on following:- Sl. No. Chapter Description of goods Rate 15A 7110 Goods, other than the following: – (a) Platinum and Palladium for use in the manufacture of: – (i) all goods, including Noble Metal Compounds and Noble Metal Solutions, falling under heading …
DGFT: Foreign Trade Policy 2015-20, valid till 30.09.2022 has been extended for a further period of six months, w.e.f. 01.10.2022 [Press release of Ministry of Commerce & Industry dated 26.09.2022]
Customs: Customs Circular has been issued for issuing suitable public notice and standing order w.r.t. amendment in Rebate of State and Central Taxes and Levies (RoSCTL) Scheme effecting the deletion of provisions of recovery from the transferee of the scrip where there is recovery on duty credit amount has been granted in excess or recovery …
Customs: Customs Circular has been issued for issuing suitable public notice and standing order w.r.t. amendment in RoDTEP scheme effecting the deletion of provisions of recovery from the transferee of the scrip where there is recovery on duty credit amount has been granted in excess or recovery of amount of duty credit where export proceeds …
