GST : For GST Annual Turnover between Rs. 20 cr to Rs. 50 Cr., taxpayer can check for e-invoicing now on https://einv-apisandbox.nic.in, which is mandatory w.e.f 1.4.2022.
Company Law : MCA notifies LLP Rules, 2022 to ease out the procedure of appointing more than two DPs (not having DPIN/ DIN) subject to maximum of five DPs at the time of incorporation itself and PAN and TAN shall be allotted to LLPs with the Certificate of Incorporation itself aligning with the company formation …
GST: GSTN issued advisory on auto-population of e-invoice details into GSTR-1 (Press Release No. 528 dated 03.03.2022)
GST: Guidelines are issued for issuance of FORM GST DRC-07 in case of vehicles detained under E-way bill provisions. (Internal Circular No. JC(BCP)/DRC-07/E-waybill/B 212 , Mumbai dated 02.03.2022)
Customs: CBIC has notified the foreign currency exchange rates for Imports and Exports (Notification No.13/2022 – Customs (N.T.) dated 3.03.2022)
Customs: Advisory for Importers to avail benefit of IGCR Rules (Import of Goods at Concessional Rate of duty) – IGCR module is developed by ICEGATE, CBIC to provide a digital service to importers to avail benefits under the IGCR Rules (Import of Goods at Concessional Rate of Duty). (Advisory No: 06/2022 dated 01.03.2022)
DGFT: Prohibition on export of Remdesivir & its API, Amphotericin-B Injections, Enoxaparin (Formulation and API), Intra-Venous Immunoglobulin (IVIG) (Formulation and API) which were used in COVID treatment has been lifted. Now the exporter can freely export these goods. [NOTIFICATION NO 56/2015-2020, Dated: February 24, 2022]
Customs: Anti-dumping duty to remain in force for jute products originating in or exported from Bangladesh and Nepal till June 2022. [NOTIFICATION NO – 10/2022-Customs (ADD), Dated: February 24, 2022]
Customs: Anti-dumping duty on porcelain or vitrified tiles originating in, or exported from, the People’s Republic of China imposed for five years. [NOTIFICATION NO – 09/2022-Customs (ADD), Dated: February 24, 2022]
GST: E-invoicing made mandatory for taxpayers whose aggregate turnover exceeds Rs 20 Cr from April 1. [Notification No – 01/2022-Central Tax, Dated: January 24, 2022]
Customs: New customs regulations for conversion of Shipping bill has been notified. The highlight of the scheme is as under, New regulation will be applicable for the shipping bills / bills of export filed on or after the date of notification i.e. 22nd Feb 2022. Conversion can be applied within period of 1 year from …
RBI: The existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAMs) of the MSMEs obtained till June 30, 2020 shall remain valid till March 31, 2022 (RBI/2021-2022/161 dated February 18, 2022)
Customs: Chennai customs introduced online portal for submission of intimations and returns for EOUs, / EHTP / STPIs. A welcome to be implemented across the country. (Public Notice No. 04/2022 dated 15.02.2022)
GST: The office of Pr. CCA, CBIC has setup a ‘GST Refund Help Desk’ for addressing payment related problems faced by the taxpayers. Please reach out to us for details
Customs : CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 18th February, 2022 (Notification No. 10/2022- Customs (N.T.) | Dated: 17th February, 2022)
Customs: Tariff value to be computed for payment of custom duties on edible oils, gold & silver has been revised. [NOTIFICATION NO 09/2022-Customs (N.T), Dated: February 15, 2022]
DGFT: As part of IT Revamp of its exporter/importer related services, DGFT has introduced a new online module for filing of electronic, paperless applications for Issuance of Replenishment Authorisation as per Para 4.35 and 4.36 of FTP for Gems and Consumables w.e.f. 21.02.2022 [TRADE NOTICE NO 34/2021-2022, Dated: February 15, 2022]
Customs: Reduced BCD on crude & refined soya, sunflower crude & refined has been extended till Sept 30, 2022 (Notification No. 16/2022-Customs, Dated: February 12, 2022)
Customs: AIDC rate reduced to 5% for crude palm oil (Notification No.16/2022-Customs, Dated: February 12, 2022)
Customs: Anti-dumping duty on imports of ‘Aluminium Foil’, falling under heading 7607, originating in or exported from China PRA has been extended upto 15th June, 2022. (Notification – 08/2022-Customs (ADD), Dated: February 14, 2022)
