Team Bizsol

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.

Being Interim Board of Settlement is being constituted for pending settlement cases, CBDT notifies procedure for with drawl of application made to erstwhile Income Tax Settlement Commission.

For fast track approvals for imported cylinders and pressure vessels for storage and transportation of medical oxygen, relaxations are being provided under Gas Cylinders Rules, 2016.

CBDT clarifies that relaxation has been provided for filing appeal before CIT (Appeals) upto 31st May, 21 (Circular) and Supreme Court Order, assessee is entitled to the relaxation which is beneficial to him.

Fee Structure for IFSC Insurance offices and IFSC intermediary Office has been specified.

Anti-dumping duty on imports of ‘1,1,1,2-Tetrafluoroethane or R-134a’, originating in or exported from China PR shall remain in force up to and inclusive of the 10th January, 2022.

National Company Law – Appellate Tribunal allows e filing of documents with an undertaking that the required documents shall be submitted when Tribunal resumes for physical hearings.  

Limit of Foreign Investment in Indian Insurance Company increased from 49% to 74%.

Directorate General of Trade Remedies initiates Anti-dumping investigation concerning the imports of Phthalic Anhydride (PAN) originating in or exported from China PR, Indonesia, Korea RP and Thailand.

Directorate General of Trade Remedies initiates Sunset Review Investigation concerning imports of “Uncoated Copier Paper” originating in or exported from Indonesia and Singapore.

MCA issues clarification that Company may offset the excess amount spent for CSR in FY 19-20 against requirement of CSR Spent for FY 20-21.