Customs : CBEC has introduced anti-dumping duty on imports of ‘Hydrofluorocarbon Blends’ originating in or exported from China PR for a period of five years. (Notification No. 76/2021-Customs (ADD) dtd.22.12.2021)
Customs : In order to align the first schedule of Customs Tariff Act, 1975 with the Harmonized System (HS) 2022, the same will be come in to force from January 2022. (D.O.F. No. 524 /11/2021-STO(TU)dtd.20.12.2021)
Important Changes in GST made effective w.e.f. 1st January 2022: Finance Bill Clause Section Existing Amendment Author’s Analysis 108 7(1)(aa) Scope of supply: (1) For the purposes of this Act, the expression supply includes–– (a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or …
Important Changes in GST made effective w.e.f. 1st January 2022 Read More »
Others: JNCH has amended the procedure for re-sealing of containers with broken/absence/mismatch of seal including tampered seal to be followed at Port Terminals. (Public Notice No. 101/2021 dtd. 09.12.2021)
Customs: Anti-Dumping duty on the imports of Axle for Trailers in CKD/SKD form originating in or exported from the Peoples Republic of China. (Notification No. 69/2021-Customs (ADD), dtd. 13.12.2021)
Income Tax: CBDT notifies e-Verification Scheme, 2021 (Notification No. 137/2021 dtd.13.12.2021)
SEBI: SEBI has constituted ‘Advisory Committee for Leveraging Regulatory & Technology Solutions’ to guide them in enhancing technological capabilities and exploring new solutions for early detection of market anomalies. (Press Release No. 35/2021 dtd.14.12.2021)
MCA: MCA extends timeline up to 30th June 2022 for companies to conduct their EGMs through Video Conference (VC) or Other Audio Visual Means (OAVM) or transact items through postal ballot in accordance with framework. (General Circular No. 20/2021 dtd. 08.12.2021)
IBC : Outsourcing of work by An IRP/RP is violation of Insolvency & Bankruptcy Board of India (IBC), 2016 (Order No. IBBI/DC/80/2021- 09.12.2021
RBI: External Commercial Borrowing (ECB)/Trade Credit (TC) – Transition from LIBOR to Alternative Reference Rate (ARR) (RBI/2021-22/135 A.P. (DIR Series) Circular No. 19 dtd. 08.12.2021)
RBI: RBI kept repo and reverse repo rate unchanged at 4 & 3.35 per cent (Press Release: 2021-2022/1322dtd 08.12.2021)
Customs : All imported consignments of cinnamon will get tested for coumarin content (on dry basis) ensuring it is not be more than 0.3 percent by weight. (Instruction No. 28/2021-Customsdtd.09.12.2021)
SEBI: Transaction in Corporate Bonds through Request for Quote platform i.e. one-to-one (OTO) or one-to-many (OTM) mode by Portfolio Management Services (PMS) (CIRCULAR No. SEBI/HO/IMD/IMD-I/DOF1/P/CIR/2021/678 dtd. 09.12.2021)
Bizsol Update for the month December 2021: 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 – December 2021
SEBI: SEBI (Substantial Acquisition of Shares and Takeovers) (Third Amendment) Regulations, 2021 (Notification No. SEBI/LAD-NRO/GN/2021/60 dtd. 06.12.2021)
DGFT: Applications are invited by DGFT for import authorisation for Water Melon Seeds–Other (ITC(HS) 12077090) for the period of 01.01.2022 to 31.03.2022. The last date for submission of online applications is 13.12.2021 (DGFT Public Notice No. 41/2015-2020)
Customs : Imposes ADD on import from China of Certain Flat rolled Products of Aluminium (Notification No. 68/2021-Customs (ADD) dtd. 06.12.2021)
SEZ: Revised user charges for SEZ-Online services are notified & to be effective from 15.11.2021 (Circular No. K-43014(22)/32/2020-SEZ)
SEBI: SEBI has issued a circular Publishing Investor Charter & disclosure of Investor Complaints by Stock Brokers on their websites ( Circular NO: SEBI/HO/MIRSD/DOP/P/CIR/2021/676)
DGFT: SIONs for export product Sodium Salicylate and Methyl Cobalamin JP (Mecobalamin) under Chemical & Allied Product Group have been notified (Public Notice No. 40/2015-20-DGFT)
