DGFT: Uploading of e-BRC by 15.07.2022 for shipping bills up to 31.12.2020 on which RoSCTL scrip has been availed from DGFT Ras failing which action would be initiated by the jurisdictional RA. (Trade Notice No. 12/2022-23-DGFT , Dated: 30th May 2022)
CBIC: Instructions are issued for Manual processing of declarations filed by the co-noticees under Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 for early disposal of cases (Instruction No. F.No.267/55/2020-CX.8/Pt-I Dated 30th May 2022)
MCA: MCA notifies Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2022 and inserted New FORM NO. CAA.16 related to Declaration where companies incorporated in India and companies incorporated outside India but sharing land border with India. (Notification no. G.S.R. 401(E).Dated 30th May 2022)
SEBI: Circular introduced on Standard Operating Procedures (SOP) for dispute resolution under the Stock Exchange arbitration mechanism for disputes between a Listed Company and/or Registrars to an Issue and Share Transfer Agents (RTAs) and its Shareholders /Investors (Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/76 Dated: 30th May 2022)
Customs: Anti-Dumping Duty (ADD) on imports of Styrene Butadiene Rubber originating in or exported from European Union, Korea RP and Thailand, has been extended till 31st October 2022 which was supposed to end on 30th August 2022 (Notification No. 17/2022-Customs (ADD), Dated: 30th May 2022)
Others: IRDAI directs insurers to ensure settlement of all Insurance Ombudsman awards pending for more than 30 days (Circular No. IRDAI/CAD/CIR/MISC/105/5/2022 Dated: 26th May 2022)
Others: Modifications in definition of Critical Illnesses prescribed in Guidelines on Standardization in Health Insurance (Circular No. Ref: IRDAI/HLT/REG/CIR/104/5/2022 Dated: 27th May 2022)
GST: Late fees for GSTR 4 for the FY 2021-22 shall be waived for a period from 1.5.2022 to 30.06.2022. (Notification No. 07/2022–Central Tax Dated: 26th May 2022.)
SEBI: Modification to Standard Operating Procedure in the cases of Trading Member / Clearing Member leading likely to default in repayment of funds or securities to its clients (Circular No. SEBI/HO/MIRSD/DPIEA/P/CIR/2022/72 Dated: 27th May 2022)
SEBI: Modification in Cyber Security and Cyber resilience framework of Qualified Registrars to an Issue and Share Transfer Agents (“QRTAs”) (SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/73 Dated: 27th May 2022)
MCA: Relaxation in paying additional fees in case of delay in filing Form 11 (Annual Return) by Limited Liability Partnerships up to 30th June, 2022 (General Circular No. 04/2022 dated 27th May 2022)
Income Tax: Faceless Penalty (Amendment) Scheme, 2022 introduced to substitute the Regional Faceless Penalty Centres with National Faceless Penalty Centres (Notification No. 55/2022- Dated: 27th May 2022)
Central Excise: Taxpayers are advised to use Accounting Head Code 0402 (Road and Infrastructure Cess) for payment of Road and Infrastructure Cess on both Motor Spirit and High Speed Diesel, and Accounting Head Code 0107 (Special Additional Duty on Motor Spirit) for payment of Special Additional Excise Duty on both Motor Spirit and High Speed …
RBI: The minimum net-worth requirement for non-bank Bharat Bill Payment Operating Units (BBPOUs) stands reduced to ₹25 crore. (RBI/2022-2023/58 CO.DPSS.POLC.No. S-253/02-27-020/2022-23 dated 26th May 2022)
RBI: Redemption price for the premature redemption due on May 30, 2022 shall be Rs. 5119/- per unit of Sovereign Gold Bond (SGB) based on the simple average of closing gold price for the week May 23-27, 2022. (Press Release: 2022-2023/279 dated 27th May 2022)
Customs: Export duties has been introduced on Flat rolled products of iron or non-alloy steel, hot rolled, not clad, plated or coated (15%) , Flat rolled products of iron or non-alloy steel, cold rolled (cold-reduced), not clad, plated or coated (15%) , Flat rolled products of iron or non-alloy steel, plated or coated with zinc …
Customs: Export duties has been introduced (25.05.2022) Read More »
Customs: Export duties has been introduced on Iron ore pellets (45%), Sacking (cloth, bags, twist, yarn, rope, and twine (15%), Semi-finished products of iron or non-alloy steel ( 15% ) (Notification No 29/2022-Customs dated: 21st May 2022)
SEBI: SEBI Issued circular on Development of passive funds (Circular no: SEBI/HO/IMD/DOF2/P/CIR/2022/69 dated: 23rd May 2022)
RBI: The ceiling on housing finance Loans towards repairs/additions/alterations is now revised to ₹10 lakh in metropolitan centres (those centres with population of 10 lakh and above) and ₹6 lakh in other centres. (Circular No. RBI/2022-23/56 DOR.CRE.REC.18/09.22.010/2022 dared 24th May 2022)
CBIC: Instructions issued towards Standard Operating Procedure (SOP) for NCLT cases in respect of the Insolvency and Bankruptcy Code (IBC) (Instruction No. 1083/04/2022-CX9 dated 23rd May 2022)
