Customs: Anti-dumping duty on porcelain or vitrified tiles originating in, or exported from, the People’s Republic of China imposed for five years. [NOTIFICATION NO – 09/2022-Customs (ADD), Dated: February 24, 2022]
GST: E-invoicing made mandatory for taxpayers whose aggregate turnover exceeds Rs 20 Cr from April 1. [Notification No – 01/2022-Central Tax, Dated: January 24, 2022]
Customs: New customs regulations for conversion of Shipping bill has been notified. The highlight of the scheme is as under, New regulation will be applicable for the shipping bills / bills of export filed on or after the date of notification i.e. 22nd Feb 2022. Conversion can be applied within period of 1 year from …
RBI: The existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAMs) of the MSMEs obtained till June 30, 2020 shall remain valid till March 31, 2022 (RBI/2021-2022/161 dated February 18, 2022)
Customs: Chennai customs introduced online portal for submission of intimations and returns for EOUs, / EHTP / STPIs. A welcome to be implemented across the country. (Public Notice No. 04/2022 dated 15.02.2022)
GST: The office of Pr. CCA, CBIC has setup a ‘GST Refund Help Desk’ for addressing payment related problems faced by the taxpayers. Please reach out to us for details
Customs : CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 18th February, 2022 (Notification No. 10/2022- Customs (N.T.) | Dated: 17th February, 2022)
Customs: Tariff value to be computed for payment of custom duties on edible oils, gold & silver has been revised. [NOTIFICATION NO 09/2022-Customs (N.T), Dated: February 15, 2022]
DGFT: As part of IT Revamp of its exporter/importer related services, DGFT has introduced a new online module for filing of electronic, paperless applications for Issuance of Replenishment Authorisation as per Para 4.35 and 4.36 of FTP for Gems and Consumables w.e.f. 21.02.2022 [TRADE NOTICE NO 34/2021-2022, Dated: February 15, 2022]
Customs: Reduced BCD on crude & refined soya, sunflower crude & refined has been extended till Sept 30, 2022 (Notification No. 16/2022-Customs, Dated: February 12, 2022)
Customs: AIDC rate reduced to 5% for crude palm oil (Notification No.16/2022-Customs, Dated: February 12, 2022)
Customs: Anti-dumping duty on imports of ‘Aluminium Foil’, falling under heading 7607, originating in or exported from China PRA has been extended upto 15th June, 2022. (Notification – 08/2022-Customs (ADD), Dated: February 14, 2022)
PLI Scheme: Ministry of Textiles has further extended the timeline for submission of applications under the PLI Scheme for Textiles till 28.02.2022 from 31.01.2022
MCA: Relaxation on levy of additional fees is given till 15.03.2022 for filing of e-forms AOC-4, AOC-4 (CFS), AOC-4, AOC-4 XBRL AOC-4 Non-XBRL and 31.03.2022 for MGT-7/MGT-7A for the financial year 2020-21
DGFT: Import policy for Moong is revised from “Free” to “Restricted” with immediate effect. DGFT Notification dated 11th February, 2022
DGFT: The procedure for allocation of quota for import of (i) Calcined Pet Coke for use in Aluminum Industry; and (ii) Raw Pet Coke for CPC manufacturing industry for the year 2022-2023 is notified. (Public Notice No. 48/2015-20-DGFT dated 10.02.2022)
DGFT: Import policy of drones in CBU/CKD/SKD form under HS Code 8806 is `Prohibited’ with exceptions provided for R&D, Defence and Security purposes. Import of drone components shall be ‘Free’. This shall come into force with immediate effect. (Notification No. 54/2015-2020-DGFT dated 09.02.2022)
DGFT: Import policy for import of various goods has been amended. Schedule I to import policy has been replaced. (Notification No. 54/2015-2020-DGFT dated 09.02.2022)
Customs: CBIC notifies Customs exchange rates w.e.f February 04, 2022 (Notification 8/2022-Cus (NT)
Customs: CBIC has clarified on applicability of Social Welfare Surcharge on goods exempted from basic and other customs duties/cesses. It says there will not be SWS when custom duties are fully exempted. (Circular No. 3/2022-Customs dated 01.02.2022)
