Central Excise: Special Additional Excise Duty on export of Diesel increased from Nil to Rs. 1.50 per litre. [NotificationNo.07/2024-CentralExcise]
Central Excise: Special Additional Excise Duty (SAED) on production of Petroleum Crude increased from Rs. 3200 per tonne to Rs. 3300 per tonne. [Notification No. 06/2024-Central Excise]
GST: Taxpayers can opt for Composition Scheme for the Financial Year 2024-25 by accessing the GST Portal, which will be open upto March 31, 2024. Use Navigation ‘Services -> Registration -> Application to Opt for Composition Levy’, and file Form CMP-02.
DGFT: Ministry of Textiles Extends RoSCTL Scheme Till 31st March 2026 from 31st March 2024. [F. No. 12015/11/2020-TTP dtd 8th February 2024]
DGFT: The rebate rate under RoSCTL for Flexible Intermediate Bulk Containers (FIBC) has been adjusted from ‘NIL’ to 2.3%, with a cap of Rs 3.7 per kg. [F. no. 12014/01/2023 – TTP dtd 9th February 2024]
DGFT: Import of new vehicles can be now made from Mundra Port and ICD Garhi Harsaru. [Notification no 59/2023 dtd 12th February 2024]
DGFT: As per Para 4.36 of the Handbook of Procedure, 2023, Exports made within 48 months from the date of issue of earliest authorisation shall be considered for clubbing provisions for Advance Authorisation Scheme. [Public notice no 40/2023 dtd 12th February 2024]
DGFT: The heading of Table A and Table B of Public Notice No. 28/2023 dated 18.08.2023 (to import gold and silver for the financial year 2023-24 to the banks which have been authorised by RBI) have been partially modified to make the list of banks effective from the 1st of April, 2023. [Corrigendum to Public …
MCA: LLPs are granted an extension for filing Form LLP BEN-2 and LLP Form No. 4D without incurring additional fees and the deadline for such filings is extended till 15th May 2024. [General Circular No. 01 /2024 dtd 7th February 2024]
Income Tax: CBDT notifies Tax Information Exchange Agreement between India and Samoa [Notification No. 21/2024 dtd 7th February 2024]
DGFT: The date for implementation of Track and Trace system for export of drug formulations w.r.t maintaining the Parent-Child relationship in packaging levels and its uploading on Central Portal has been extended upto 01-02-2025 for both SSI and non-SSI manufactured drug [Public notice no 39/2023 dtd 2nd February 2024]
Excise: Special Additional Excise Duty on production of Petroleum Crude increased from Rs. 1700per tonne to Rs. 3200per tonne. [Notification No. 05/2024-Central Excise dtd 2nd February 2024]
Customs: CBIC extends the exemption from 31/03/2024 to 30/09/2024 by amending following 33 notifications (refer attached excel file for publishing) Customs Notification No. 07/2024 dated 29.01.2024 Sr.No Customs Notification No and Date Exemption to 1 16/1965 dated 23.01.1965 Good exported to foreign countries for display in show-rooms of Government of India 2 80/1970 dated 29.08.1970 …
Customs: CBIC has extended the exemption date from 31/03/2024 to 30/09/2024 for following items a) Good used for manufacturing of Ethylene Vinyl Acetate sheets or backsheets which are used in manufacture of solar photovoltaic cellls following under HSN 3208, 3815, 3901 & 3920 b) Solar Tempered Glass for manufacturing of solar cells / panels or …
Customs:CBIC has extended the exemption date from 31/03/2024 to 30/09/2024 (30.01.2024) Read More »
Income Tax : CBDT has notified Income Tax Return (ITR) Form ITR-6 for AY 2024-25. [Notification No 16/2024 – Income Tax]
Central Excise: CBIC has extended the applicable date of additional duty on unblended diesel from 01/04/2024 to 01/04/2025. [Notification No 4/2024 – Central Excise]
Customs: Customs Duty not required to be paid on import of specified wearable goods from 01.02.2022 to 27.04.2023 [Notification No 7/2024 – Customs (NT)] Customs Duty not required to be paid on import of specified hearable goods from 01.02.2022 to 27.04.2023 [Notification No 8/2024 – Customs (NT)]
DGFT: The import policy of ‘Glufosinate Technical’ under ITC (HS) Code 38089390 is revised from “Free” to “Prohibited”. However, import shall be free if CIF value is Rs. 1289/- or above per Kg. This will be effective from 25.01.2024 [Notification No. 58/2023 – DGFT]
GST: GSTN enabled the functionality to furnish a Letter of Undertaking (LUT) for the financial year 2024-25 on the GST Portal.
Customs: The Central Board of Indirect Taxes and Customs (CBIC) has revised the rates are set at 4.35% for spent catalyst or ash containing precious metals (7112), 5% for gold or silver findings (7113), and 5% for coins of precious metals (7118). [Notification No. 05/2024-Customs]
