Team Bizsol

Notifications implementing 43rd GST Council Meeting decisions . Synopsis of the same is already circulated in our flyer dtd 29th May 2021 Notification No. 17/2021 – Central Tax: Dated 01/06/2021, Notification No. 18/2021 – Central Tax Dated 01/06/2021, Notification No. 02/2021-Integrated Tax Dated 01/06/2021, Notification No. 02/2021-Union Territory Tax Dated 01/06/2021, Notification No. 19/2021 – …

Notifications implementing 43rd GST Council Meeting decisions (02.06.2021) Read More »

RBI clarifies that its circular dated April 06, 2018 restricting dealing in Virtual Currencies (VC)  is no longer valid from the date of the Supreme Court judgement, and therefore cannot be cited or quoted from. Banks may, however, continue to carry out customer due diligence.  

Shri Jagannath Bidyadhar Mohapatra appointed as Chairman CBDT  

CBIC amend notification No. 28/2021-Customs to exempt customs duty on import of Amphotericin B (Black Fungus Medicine), and also to extend the exemptions under the said notification up to 31st August, 2021.

Govt amends Ad hoc Exemption Order No. 4/2021-Customs dated the 3rd May, 2021, to extend the exemption from IGST on imports of specified COVID-19 relief material donated from abroad, up to 31st August, 2021.

Import-Exporter Code (IEC) Services not available due to non-availability of PAN Validation Services from 01.06.2021 to 06.06.2021  [Public Notice 07/2021-22 dtd ]

Emergency Credit Line Guarantee Scheme (ECLGS) expanded – ECLGS 4.0 for onsite oxygen generation, wider coverage of ECLGS 3.0 and increase in tenor for ECLGS 1.0   On account of the disruptions caused by the second wave of COVID 19 pandemic to businesses across various sectors of the economy, Government has further enlarged the scope …

Emergency Credit Line Guarantee Scheme (ECLGS) expanded (01.06.2021) Read More »

Extension of transitional provisions of Sea Cargo Manifest & Transhipment Regulations 2018. Authorised sea carrier to continue to deliver the cargo declaration in old Forms (Notification No. 50/2021-Customs (N.T.) New Delhi, the 31st May, 2021)

Govt. further waives IGST on import of COVID-19 medicines etc. for donation to Central/State Government, State authority, relief agency etc (Notification No.32/2021-Customs New Delhi, the 31st May, 2021)

Group of Ministers (GOM) has been constituted to examine the issue of GST concessions/ exemption to COVID relief material

CBIC Seeks to impose anti-dumping duty on Methyl Acetoacetate originating in or exported from China PR for a further period of five years

CBIC extends the validity of the AEO Certificates expired between 01.04.2021 and 31.05.2021 to 30.06.2021, except for the ineligible cases 

Recommendations of 43rd GST Council meeting held on 28th May, 21 Click on the link below for the update: Recommendations Of 43rd GST Council Meeting    

PAN Validation services will be impacted in view of launch of new Income Tax Website and accordingly following DGFT services will not be available from 1st June to 6th June 21 : i. Application for a new IEC ii. Application for Amendments/Modification in an IEC iii. One-time linking of Aadhaar for e-sign purposes

Nhava Sheva Customs launches one time drive to address all the issues relating to non-validation on account of bank account at PFMS level and ensure that the Drawback/IGST refunds are successfully scrolled out to the stakeholders.

DGFT continues its e-drive for paperless issuance of DFIA and Mandatory recording of information about transfer of DFIA (Duty Free Import Authorization).

CBIC reiterates Officers to issue requisite order within 30 days of receipt of Application for Cancellation of registration.