Customs: CBIC has issues the Tariff Notification for Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver (Notification No. 50/2022-Custom (N.T.) Dated 15th June 2022)
DGFT: Changes are made in Public Notice 10/2015-20 dated 24.05.2022 for notifying additional provisions for allocation of Tariff Rate Quota (TRQ) for 20 Lakh MT of Crude Soya bean oil and 20 Lakh MTs of Crude Sunflower oil for FY 2022-23 and 2023-24 (Public Notice No. 15/2015-20 Dated 14th June 2022)
GST: CBIC has issued detailed procedure for sanction, post audit and review of refund claims under GST (Instruction No. 03/2022-GST Dated 14th June 2022)
Income Tax: Roll out of first phase of changes in Income Tax Business Application (ITBA) functionalities for Faceless Assessment due to amendments in Section 144B by Finance Act, 2022. (Instructions NaFAC/Delhi/CIT-I/2021-22/105 /49 Dated 14th June 2022)
Income Tax: CBDT has notified Cost Inflation Index for Financial Year 2022-23 at 331 (Notification No. 62/2022-Income Tax Dated 14th June 2022)
SEBI: SEBI cautions Investors against dealing with unregulated platforms offering Algorithmic Trading (Press Release No. 20/2022 Dated 10th June 2022)
MCA: Govt. has notified the Companies (Appointment and Qualification of Directors) Second Amendment, Rules, 2022. As per amended norms, any individual whose name has been removed from the databank, may apply for restoration of his name on payment of fees of Rs. 1000 and the institute shall allow such restoration subject to riders. (Notification No. …
Income Tax: CBDT has specified subordination of Chief Commissioners & Principal Commissioners of Income-tax. (Notification No. 60/2022 Income Tax Dated 10th June 2022)
Income Tax: CBDT makes more changes in jurisdiction of Income tax Authorities. (Notification No. 61/2022 Income Tax Dated 10th June 2022)
Income Tax: CBDT has revised the procedures laid down for sharing information with tax deductors/collectors for Sections 206AB & 206CCA (Notification No. 1 of 2022 Dated 9th June 2022)
Income Tax: CBDT has notifies new units under Faceless Assessment incorporating amendments made by the Finance Act 2022 (Notification No. 187/4/2021-ITA-I Dated 10th June 2022)
RBI: RBI has decided to allow financially sound and well managed (FSWM) Primary (Urban) Co-operative Banks (UCBs) to provide Doorstep Banking Services to their customers on a voluntary basis. (Circular No. RBI/2022-23/66 DOR.REG.NO.45/19.51.052/2022-23 Dated 8th June 2022)
RBI: RBI has decided to discontinue the return w.r.t Details of guarantee availed and invoked from non-resident entities under the Foreign Exchange Management Act, 1999 w.e.f. the quarter ending June 2022. (Circular No. RBI/2022-23/69 A.P. (DIR SERIES) Circular No. 05 Dated 9th June 2022)
Customs: CBIC has extended the time period for furnishing the final Mega power project certificate from 120 months to 156 months and extending the period of validity of security in the form of Fixed Deposit Receipt or Bank Guarantee from 126 months to 162 months, in case of provisional mega power projects (Notification No. 31/2022-Customs …
Customs: The Central Government revokes the anti-dumping duty imposed on ‘Hydrogen Peroxide’ falling under tariff item 2847 00 00, originating in or exported from Bangladesh, Taiwan, Korea RP, Indonesia, Pakistan and Thailand, and imported into India (Notification No. 20/2022-Customs (ADD) New Delhi Dated 7th June 2022)
DGFT: Baltic Testing India Private Limited and DD International Global are appointed as Pre-shipment Inspection Agency (PSIA). (Public Notice No. 12/2015-2020- DGFT Dated 9th June 2022)
DGFT: Time limit for filling return under EPCG authorization scheme is extended to 30.09.2022 and late fees of Rs. 5,000/- will be applicable for the returns from FY 2022-23. (Public Notice No. 13/2015-2020-DGFT Dated 9th June 2022)
MCA: The Government has notified the Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2022 (Notification No. G.S.R. 436(E) Dated 9th June 2022)
Income Tax: Compliance check functionality has been deployed on income tax portal (https:// report.insight.gov.in) to facilitate tax diductor/ collector to check return filing status of specified persons for applicability of higher TDS /TCS. [DGIT(S) (Notification No. 01/2022 Dated 9th June 2022)
RBI: The Monetary Policy Committee (MPC) of the RBI has announced the increase in the policy repo rate under the liquidity adjustment facility (LAF) by 50 basis points to 4.90 per cent with an immediate effect. (Press Release; 2022-2023/333 Dated 8th June 2022)
