Central Excise: Special Additional Excise Duty is increased to Rs. 5.50 on export of Diesel and ATF. [Notification No. 27/2023-central excise dated 14.08.2023].
Bizsol Update for the month August 2023 From the Desk of Chairman Article on ‘The Uniform Civil Code’ by CS. Venkat R. Venkitachalam, Chairman, Bizsolindia Services Pvt. Ltd. Article on ‘Un-Resolved Issues of Refund- For EOUs & Advance Authorisation Holders’ by CMA Ashok Nawal, Founder, Bizsolindia Services Pvt Ltd. Article on ‘Cross-empowerment in GST’ by …
Clarification on ITC & Methodology For Issue of Supply of Goods Against the Warranty Claims
DGFT: The date for implementation of Track and ‘Trace system for export of drug formulations with respect to maintaining the Parent-Child relationship in packaging levels and its uploading on Central Portal has been extended up to 01.02.2024 for both SSI and non SSI manufactured drugs. [Public Notice No. 26/2023-DGFT dated 4 August 2023]
DGFT: Extension for obtaining import authorisation for Import of Laptops, Tablets, All-in-one Personal Computers, and Ultra small form factor Computers, Servers under HSN 8471 has been granted till 31st October 2023. [Notification No. 24/2023 dated 4 August 2023]
GST: Special procedure to be followed by the electronic commerce operators in respect of supplies of goods through them by Unregistered Persons & Composition Taxpayer. [Notification No. 36 & 37 /2023-Central Tax dated 04-Aug-2023]
GST: Various Rules under CGST Rules, 2017 has been amended. [Notification No. 38/2023-Central Tax dated 04-Aug-2023]
Income Tax: No TDS to be deducted under section 194-I of the Income-tax Act on payment in the nature of lease rent or supplemental lease rent, as the case may be, made by a person ( ‘lessee’) to a person being a Unit of an International Financial Services Centre (‘lessor’) for lease of a ship. …
DGFT: Para 4.73(15) of Handbook of Procedure 2023 stands amended to modify the name of authorised laboratories for certification / grading of diamonds. [Public Notice No. 24/2023 dated 4 August 2023]
DGFT: SION E-136 is amended to allow export of Wheat Flour (Atta) with Millets. [Public Notice No. 25/2023 dated 4 August 2023]
DGFT: RoDTEP benefit relating to 18 HS codes under heading 5208 is being regularised w.e.f. 01.01.2021. [Notification No. 24/2023 dated 3 August 2023]
DGFT: Annual export quota (April to March) of 900 MT for TamilNadu for artificially Propagated red sanders and zero export qouat for wild specimens of red sanders is notified [Notification No. 25/2023 dated 3 August 2023]
DGFT: Import of Laptops, Tablets, All-in-one Personal Computers, and Ultra small form factor Computers, Servers under HSN 8471 is ‘Restricted’ with immediate effect. Exemption from import licencing is given to such item for 1 quantity except Servers per consignment. Exemption from import licencing is provided up to 20 items per consignment for R&D, Testing, Benchmarking …
Customs: Automatic LEO facility is extended to Express Cargo Clearance System (ECCS) [Circular No.19/ 2023-Customs dated 2 August 2023].
While we are celebrating completion of 6 years of implementation of GST and GST Council is sincerely feeling to resolve the issues. Still, exporters are struggling due to delay in refund or lock up of funds on account of accumulated input tax credit due to exports. In the year 2017-18, we have seen number of …
The Constituent Assembly of India was elected in 1946 to write the Constitution of a newly independent nation. The motley crowd of 389 erudite members with impeccable records gave us our Constitution that has been revered by all of us, ever since. Though this Assembly gave us the Constitution that we now behold, it also failed in …
There are times when you find it difficult to describe India to a foreign national. The reason is not that you are challenged in our expressions. It is because of the obvious and inherent contradictions that you find all around us. We have the Taj Mahal, the marvel built by the Mughal Emperor Shah Jahan …
Landmark Decision on GST Credit: Impact on Taxpayers Explained
Clarification on Is E Invoicing Mandatory For Your Business?
Clarification on How to calculate interest on IGST credit wrongly availed and utilized
