Daily Updates

CBDT has notified a new set of Rules 21AI, 21AJ & New Form No. 10IG & 10IH. (Notification No. 90/2021- Income Tax dtd 9th August 2021)

Anti-subsidy investigation on imports of Viscose Rayon Filament Yarn. (Notification- Final Findings dtd. 9th August 2021)

Para 2.07 of Foreign Trade Policy, 2015-20 regarding Principles of prohibition and restrictions is amended to be in line with international agreements. (Notification No. 17/2015-2020 dtd. 10th August 2021)

Period of modification of IEC is extended for the year 2021-22 till 31.08.2021 and waiver of fees for modifications carried during August 2021. (Notification No. 16/2015-2020 dtd. 9th August 2021)

The trail period of CHIMS is extended by further two months i.e. up to 30.09.2021. (Notification No. 15/2015-2020 dtd. 9th August 2021)

The quota for export of diagnostic kits and their components/laboratory reagents has been fixed for the month of July, August and September, 2021. (Trade Notice No. 15/2021-22 dated 9th August 2021)

CBIC has issued the instructions to ensure that Cassia or Split Cassia is not imported with label of Cinnamon or Split Cassia (Cinnamon). (Instruction No. 16/2021- Customs dtd. 9th August 2021)

Anti-dumping duty on imports of Phthalic Anhydride. (Notification No. 43/2021- Customs (ADD) dtd. 9th August 2021)

The Insolvency and Bankruptcy Board of India ( IBBI) signed a Memorandum of Understanding (MOU) with National Stock Exchange (NSE) of India for research collaboration. (Notification No. IBBI/PR/2021/17 dtd. 6th August 2021)

CBIC has notified Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 6th August 2021. (Notification No. 65/2021- Customs (N.T.) dtd. 5th August 2021)

RBI has decided to permit banks to extend export credit using any other widely accepted Alternative Reference Rate in the currency concerned. (Notification No. RBI/2021-2022/79 dtd. 6th August 2021)

RBI’s monetary policy committee has decided to keep the Repo Rate unchanged at 4%. (RBI- Press Release dtd. 06th August 2021)  

MCA notifies Companies ( Specification of definitions details) Third Amendment Rules, 2021. (Notification No. G.S.R. 539(E) dtd. 5th August 2021)

MCA notifies Companies (Registration of Foreign Companies) Amendment Rules, 2021. (Notification No. G.S.R. 538(E) dtd. 5th August 2021)

MCA exempts foreign & companies incorporated outside India from provisions of Sections 387 to 392. (Notification dtd. 5th August 2021)

CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 6th August 2021. (Notification No. 65/2021- Customs (N.T.) dtd. 5th August 2021)

Invoking Force Majeure for Covid-19 Pandemic second wave for a period of extension of project registration by 6 months from 15th April 2021 to 14th October 2021. (Order No. 21/2021 dtd. 06th August 2021)

Amendments are made in Para 4.82,4.83,4.84 of HBoP 2015-20 purely as a onetime temporary measure in view of difficulties expressed by the trade due to COVID-19 situation. (Public Notice No. 20/2015-20 dtd. 06th August 2021)

CBDT designates Special Court under Section 280A of the Income Tax Act, 1961 & Section 84 of Black Money ( Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 for: Telangana ( Notification No.89/2021- Income Tax dtd 04.08.2021) Meghalaya ( Notification No.88/2021- Income Tax dtd 04.08.2021) Gujarat ( Notification No.87/2021- Income Tax dtd …

CBDT designates Special Court under Section 280A of the Income Tax Act, 1961 & Section 84 of Black Money ( Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.(06.08.2021) Read More »

Taxation Laws (Amendment) Bill , 2021 is introduced in Lok Sabha on 05th August 2021 to amend the Income Tax Act, 1961 and the Finance Act, 2012. (Bill No. 120 of 2021)