Company Law: Amnesty scheme introduced for LLPs for submission of Form 3(LLP Agreement), Form 4 (Partners Details) & Form 11 (Annual Return) [General Circular No. 08/2023 Dated:23.8.2023]
DGFT: Certificate issued by Shellac & Forest Products Export Promotion Council (SHEFEXIL) prior to change in policy condition from 31st July 2023 for export of Food Supplements containing botanicals, shall be recognised after change in policy condition. [Trade Notice No. 24/2023 dated 25.08.2023]
Customs: Export duty on Onion imposed at 40% of value of goods from 19th August 2023 to 31st December 2023. [Notification No. 48/2023-Customs dated 19.08.2023]
Income Tax: Formula is prescribed to calculate taxable income for the amount received under Life Insurance Policy [Notification No. 61/2023 income Tax dated 16.08.2023]
Income Tax: Exemption on specified income is granted to Urban Improvement Trust Udaipur. [Notification No. 62/2023 income Tax dated 16.08.2023]
Income Tax: Income tax exemption has been granted to ‘Haryana Water Resources (Conservation, Regulation and Management) Authority. [Notification No. 63/2023 income Tax dated 16.08.202
DGFT: Final Notice issued for on-boarding on the DGFT Common Digital platform for mandatory electronic filing-of Non-Preferential Certificate of Origin (CoO) up to 31st August 2023. [Trade Notice No. 22/2023-DGFT dated: 16.08.2023]
Customs: Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver is revised. [Notification No. 60/2023-Customs (NT) dated 14.08.2023]
Central Excise: Special Additional Excise Duty is increased to Rs. 5.50 on export of Diesel and ATF. [Notification No. 27/2023-central excise dated 14.08.2023].
DGFT: The date for implementation of Track and ‘Trace system for export of drug formulations with respect to maintaining the Parent-Child relationship in packaging levels and its uploading on Central Portal has been extended up to 01.02.2024 for both SSI and non SSI manufactured drugs. [Public Notice No. 26/2023-DGFT dated 4 August 2023]
DGFT: Extension for obtaining import authorisation for Import of Laptops, Tablets, All-in-one Personal Computers, and Ultra small form factor Computers, Servers under HSN 8471 has been granted till 31st October 2023. [Notification No. 24/2023 dated 4 August 2023]
GST: Special procedure to be followed by the electronic commerce operators in respect of supplies of goods through them by Unregistered Persons & Composition Taxpayer. [Notification No. 36 & 37 /2023-Central Tax dated 04-Aug-2023]
GST: Various Rules under CGST Rules, 2017 has been amended. [Notification No. 38/2023-Central Tax dated 04-Aug-2023]
Income Tax: No TDS to be deducted under section 194-I of the Income-tax Act on payment in the nature of lease rent or supplemental lease rent, as the case may be, made by a person ( ‘lessee’) to a person being a Unit of an International Financial Services Centre (‘lessor’) for lease of a ship. …
DGFT: Para 4.73(15) of Handbook of Procedure 2023 stands amended to modify the name of authorised laboratories for certification / grading of diamonds. [Public Notice No. 24/2023 dated 4 August 2023]
DGFT: SION E-136 is amended to allow export of Wheat Flour (Atta) with Millets. [Public Notice No. 25/2023 dated 4 August 2023]
DGFT: RoDTEP benefit relating to 18 HS codes under heading 5208 is being regularised w.e.f. 01.01.2021. [Notification No. 24/2023 dated 3 August 2023]
DGFT: Annual export quota (April to March) of 900 MT for TamilNadu for artificially Propagated red sanders and zero export qouat for wild specimens of red sanders is notified [Notification No. 25/2023 dated 3 August 2023]
DGFT: Import of Laptops, Tablets, All-in-one Personal Computers, and Ultra small form factor Computers, Servers under HSN 8471 is ‘Restricted’ with immediate effect. Exemption from import licencing is given to such item for 1 quantity except Servers per consignment. Exemption from import licencing is provided up to 20 items per consignment for R&D, Testing, Benchmarking …
Customs: Automatic LEO facility is extended to Express Cargo Clearance System (ECCS) [Circular No.19/ 2023-Customs dated 2 August 2023].
