DGFT: Export of essential commodities under Prohibited/restricted category to the Republic of Maldives during 2024-25 shall be permitted only through the following 4 Customs Stations: – Mundra Sea Port Tuticorin Sea Port Nhava Sheva Sea Port (JNPT) ICD Tughlakabad [Notification No.6/2023 dated 15th April 2024]
DGFT: Export of 10,000 MT of onions (under HS code 0703 10 19) to Sri Lanka through National Cooperative Exports Limited (NCEL) has been allowed. Further, export of additional 10,000 MT quantity of Onions (under HS code 0703 10 19) through NCEL to UAE, over and above the quota of 24,400 MT already notified vide …
Central Excise: Increase the Special Additional Excise Duty (SAED) on production of Petroleum Crude to Rs. 9,600 per tonne from 16.04.2024 [Notification No. 12/2024-Central Excise dated 15th April 2024]
GST High Court of Madras has held that Opportunity to file reply shall be granted where assessee had filed reply to DRC-01A but failed to see the SCN.
Bizsol Update for the month April 2024 From the Desk of Chairman Article on ‘The Future of Work in India-Embracing Change in the Land of Opportunies’ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt. Ltd. Article on ‘EOU, AA holders and SEZ units gets the benefit of RoDTEP scheme till September 2024‘, by CA …
The long-awaited support and advantage needed to bolster Export Oriented Units (EOUs), Advance Authorization Holders, and Special Economic Zones (SEZs) has finally been granted by the government. This extension was announced through notification no. 70/2023 dated 8th March 2024, effective for a period of six and a half months, from 11th March 2024 to 30th …
There was a time, not too long ago, when one could speak with an element of certainty on matters related to business and commerce in India in the rarified corporate environs in any part of the world. It was not surprising that such a situation came to pass where orthodoxy was the ruled the roost …
The Supreme Court (SC) in a landmark judgment gave its verdict on the electoral bonds. This will go down as one of the most significant judgments handed down by the Supreme Court of India. This Bond scheme was unveiled as part of his speech when Arun Jaitley presented his Budget in the Lok Sabha in …
Watch ‘Financial Year End Practices Checklist’ by CA Sharvan Biyani, Sr.Advisor, Bizsolindia Services Pvt.Ltd
Central Excise: w.e.f 16th March 2024, Special Additional Excise duty on Production of Petroleum Crude is Rs. 4900 per tonne. [Notification No. 10/2024-Central Excise 15th March 2024]
Income Tax: Notification No. Effect of the notification [Notification No. 29/2024 dated 13th March 2024] IIT Kharagpur having PAN AAAJI0323G is notified under the University, college or other institution’ for ‘Scientific Research’ for the purpose of Section 35 of Income Tax Act 1961, valid for the FY 2023-24 and shall be applicable till FY 2029-2030. …
DGFT: Notification No. Effect of the notification [Notification No. 71/2023 dated 11th March 2024] Provisions for enable for EOUs, AA Holders, SEZs for exempting inputs imported from mandatory Quality Controls Orders (QCOs). [Notification No. 72/2023 dated 11th March 2024] Human Biological Samples falling under chapter 30 of ITC HS Schedule 2- Export Policy, is …
Customs: Notification No. Effect of the notification [Notification No. 15/2024 Customs(T) dated 12th March 2024] For HSN 9022 30 00 [X-Ray Tubes] and 9022 90 90 [“Others” Apparatus based on the use of alpha, beta, gamma or other ionising radiation, whether or not for medical, surgical, dental or veterinary uses, including radiography or radiotherapy …
Bizsol Update for the month March 2024 From the Desk of Chairman Article on ‘The Art and Science of Resilience-The Secret of Sauce of Success in Corporate Life’ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt. Ltd. Article on ‘Whether Litigation preferred by GST Council and CBIC?‘, by CMA Ashok Nawal, Founder, Bizsolindia Services …
Just the other day an eighty-year-old senior citizen died while walking from the aircraft to the terminal building at the Mumbai Airport. At eighty, the passenger was, no doubt, vulnerable. But what matters was that it could have been avoided if we, as a society, were slightly more sensitive in a world that is home …
One of the occupational hazards of retiring from a corporate job, especially at a senior level, is that you must be ready to answer some tricky questions for which there are no definitive answers. Two such typical questions that I have had to face repeatedly were: 1. Can you suggest a profitable startup to pursue …
Circular SEBI/HO/MRD/MRD-PoD-1/P/CIR/2024/13 dated 05th March 2024 The Ministry of Finance released a new notification, S.O.1002(E) dated March 01, 2024, which updates the list of goods under clause (bc) of Section 2 of the SCRA, 1956. This new notification replaces the previous one, S.O. 3068(E) dated September 27, 2016, on the same topic. The new …
RBI Notification no RBI/2023-24/130 dated 05th March 2024 RBI has issued new reporting practices for all Authorised Persons acting as Indian Agents under the Money Transfer Service Scheme (MTSS). Notification No RBI/2023-24/131 dated 06th March 2024 RBI has issued a directive, addressing arrangements between card networks and issuers, specifically related to the issuance of credit …
Income Tax: Notification No. Effect of the notification Notification No. 27/2024 Dated 5th March 2024 The new rules are called the Income-tax (Fourth Amendment) Rules, 2024, and they will become effective as soon as they are published in the Official Gazette, which is a government publication. Within the Income-tax Rules, there’s a section called …
DGFT: Notification No. Effect of the notification Public Notice No. 46/2023 dated 06th March 2024 Procedures for registration of import consignments under Yellow Peas Import Monitoring System (YP-IMS) is amended for the import arriving after 31-03-2024 at the Indian Ports. Now Para (b) of Public Notice 35/2023 Dated 13-12-2023 is not applicable. Instead of taking …
