MCA: Corporate Social Responsibility Policy Rules 2014 (CSR) has been amended: Rule 3 (1): A company having any amount in its Unspent Corporate Social Responsibility Account as per sub-section (6) of section 135 shall constitute a CSR Committee and comply with the provisions contained in sub-sections (2) to (6) of the said section. Rule (4) …
Income Tax: CBDT notifies new Income Tax Rule 12AD modified return of income under section 170A to be furnished by a successor entity to a business re-organisation and relevant Form ITR-A. [Notification No. 110/2022-Income Tax dated 19.09.2022]
Central Excise: Special Additional Excise Duty on Diesel has been reduced to Rs. 8.50 per litre. [Notification No. 30/2022-Central Excise dated 16.09.2022]
Central Excise: Special Additional Excise Duty on production of Petroleum Crude has been reduced to Rs. 10,500 per tonne and on export of Aviation Turbine Fuel same has been reduced to Rs. 9 per litre. [Notification No. 29/2022-Central Excise dated 16.09.2022]
Customs: Anti-Dumping duty imposed on “Toluene Di-Isocyanate (TDI)” originating in or exported from China PR, Japan and Korea RP, for a period of 5 years. [Notification No. 28/2022-Customs (ADD) dated 21.09.2022]
DGFT: Partial modification has been made in Public Notice No 11/2015-20 issued on 07.06.2022 regarding “Guideline for Applicants” under ANF-4F in case of deemed Export. Accordingly, copy of Form A along with the copy of Tax invoice duly endorsed by the recipient shall be considered as proof of deemed export supplies. [Corrigendum to Public Notice …
DGFT: The provisions for the treatment of un-utilized quantities allocated under Tariff Rate Quota (TRQ) for import of crude soya bean and crude sunflower oil have been elaborated in detail with inserting some additional provisions. [Public Notice No.24/2015-20 dated 12/09/2022]
Customs: As the export policy for broken rice against HSN 10064000 has been amended from “Free” to “Prohibited” w.e.f. 09/09/2022, the following shipments will be allowed to be exported between 09/09/2022 to 15/09/2022 Where loading of broken rice on ships has commenced before notification Where shipping bill is filed and vessels have already berthed or …
GST: Guidelines for filing/revising TRAN-1 / TRAN-2 has been issued by the department. Accordingly once filed or revised TRAN 1 / TRAN 2 between 01.10.2022 to 30.11.2022, the assessee has to submit the physical copy of same along with the declaration in specified format and TRAN 3 (wherever applicable) to the jurisdictional officer within 7 …
Excise: The Special Additional Excise Duty (SAED) on production of Petroleum Crude has been decreased from Rs.17,000 per tonne to Rs. 13,300 per tonne and Special Additional Excise Duty on export of Aviation Turbine Fuel has been increased from Rs. 4 per litre to Rs. 9 per litre [Notification No. 26/2022-Central Excise dated 31st August, …
Excise: The special additional excise duty on export of diesel has been increased to Rs 12 / litre w.e.f 01/09/2022 [Notification No. 27/2022-Central Excise dated 31st August, 2022 ]
Excise: The Road and Infrastructure cess on export of Diesel has been increased from Rs.1 / litre to Rs.1.50/ litre w.e.f 01/09/2022 [Notification No. 28/2022-Central Excise dated 31st August, 2022 ]
GST: The GST investigation Wing has issued guidelines for launching of prosecution under the Central Goods and Services Tax Act, 2017 specifying the Sanctioning authority, threshold limit and procedures. [Instructions No. 4/2022-23 dated 1st Sept 2022]
Customs: Anti-Dumping Duty on import of “Jute Products” namely, Jute Yarn/Twine, Hessian Fabric and Jute sacking Bags falling under HSN 5307, 5310, 5607 & 6305, originating or exported from Bangladesh and Nepal has been extended till 31/12/2022 unless revoked, superseded or amended earlier. [Notification No. 26/2022 – Customs (ADD) dated 31st August 2022]
Company Law: Form STK-1, STK-4 & STK-5 relating to removal of names of the Company from Register of Companies has been amended. [Notification No. G.S.R. 658(E) dated 24th August 2022]
DGFT: Exemption from export restrictions / ban on Wheat or Meslin Flour under HS Code 1101 has been withdrawn. [Notification No. 29/2015-2020 dated 27th August 2022]
DGFT: Export Policy of items [Wheat or Meslin Flour (Atta), Maida, Samolina (Rava / Sirgi), Wholemeal atta and resultant atta] under HS Code 1101 is amended from ‘Free’ to ‘Prohibited’. [Notification No. 30/2015-2020 dated 27th August 2022]
SEBI: Asset Management Companies (AMCs) shall ensure scheme wise disclosure of investments [Circular No. SEBI/HO/IMD/DOF2/P/CIR/2022/111 dated 25 August 2022]
SEBI: IFSC Banking Units can issue Debit Card to their customers subject certain conditions specified in the circular. [Circular F. No. 110/IFSCA/Banking Regulation/2022-23/3 dated: 25 August 2022]
Income Tax: CBDT notifies Andhra Pradesh Pollution Control Board for the purpose of exemption under Section 10(46) of income Tax Act, 1961. [Notification No. 103/2022-Income Tax dated 24 August 2022]
