Daily Updates

Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver. (Notification No. 67/2021-Customs (N.T.) dtd. 13th August 2021)

President has given assent to “The Insolvency and Bankruptcy Code ( Amendment) Act , 2021” on 11th August 2021.

Manual filing of disclosures under SEBI ( Prohibition of Insider Trading) PIT Regulations 2015 is no longer mandatory. (Circular SEBI/HO/ISD/ISD/CIR/P/2021/617 dtd. 13th August 2021)

Listed entities to disclose shareholding, segregated into promoter(s) & promoter group. (Circular SEBI/HO/CFD/CM D/CIR/P/2021/616 dtd. 13th August 2021)

Central Government revokes the anti-dumping duty imposed on ” Viscose Staple Fibre excluding Bamboo Fibre”, falling under tariff item 5504 to 10 00. (Notification No. 44/2021- Customs (ADD) dtd. 12th August 2021)

Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver. (Notification No. 66/2021-Customs (N.T.) dtd. 11th August 2021)

Mobile signal repeater/booster and walkie-talkie sets falling under the category of Transmission apparatus incorporating reception apparatus ( ITC HS Code – 8525 60 00) classified under ‘free’ category under the Import Policy will not be permitted to be imported except against a license to be issued by the Wireless Planning & Coordination (WPC) wing of …

Mobile signal repeater/booster and walkie-talkie sets falling under the category of Transmission.(13.08.2021) Read More »

RBI has provided that Cash-out at any ATM of more than ten hours in a month will attract a flat penalty of Rs.10,000/- per ATM with effect from 1st October 2021. (Circular No. RBI/2021-22/84 DCM (RMMT) No. S153/11.01.01/2021-22 dtd. 10th August 2021)

CBDT has notified New Rule 10RB. Relief in tax payable under sub-section (1) of Section 115JB due to operation of subsection (2D) of Section 115JB and FORM No 3CEEA. (Notification No. 92/2021- Income Tax dtd. 10th August 2021)

CBDT establishes 7 Interim Boards for Settlement having headquarters at Delhi, Kolkata, Mumbai and Chennai. (Notification No. 91/2021- Income Tax dtd. 10th August 2021)

SOP is prescribed for completing the penalties under the Faceless Penalty Scheme, 2021. (Instructions F. No. A.A. (N.A.F.A.C)-1/2021-22/439 dtd. 9th August 2021)

Ministry of Finance has notified Foreign Exchange Management (Non-debt instruments) (Amendments) Rules, 2021 to amend the existing Foreign Exchange Management (Non-debt instruments ) Rules, 2019. (Notification dtd 6th August 2021)

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)