RBI/FEMA: Framework with instructions issued for acceptance of Green Deposits by Scheduled Commercial Banks and all NBFC’s accepting deposits registered with RBI. [Notification No. RBI/2023-24/14 DOR.SFG.REC.10/30.01.021/2023-24 dated 11th April 2023]
RBI/FEMA: Authorised Dealers Category-II entities are now allowed for Online submission of Form A2. [RBI/2023-24/16 A.P. (DIR Series) Circular No. 02 dated 12th April 2023]
DGFT: Validity of ANFs & Appendices issued under FTP 2015-20 is extended till 31st May 2023 or up to the date on which new ANFs and Appendices are notified under FTP 2023 whichever is earlier. [Public Notice No.5/2023 dated 11th April 2023]
Customs: Customs (Waiver of Interest) Second Order, 2023 issued, for extension of waiver of interest on import duty till 13th April 2023 which was earlier till 10th April 2023 in respect of such goods, where the payment of import duty is to be made from the amount available in electronic cash ledger but not done …
Customs: W.e.f. 1st May 2023 online filing facility for AEO-LO applications will be available with Launch of Version 3.0 of web- application for filing so as ensure real-time monitoring, and digital certification. [Circular No.10/2023-Cus dated 11th April 2023]
SEBI: Guidelines issued for formulation of price bands for the first day of trading pursuant to Initial Public Offering (IPO), re-listing etc. in normal trading session. [CIRCULAR SEBI/HO/MRD-TPD1/CIR/P/2023/55 dated 11th April 2023]
Corporate Law: Indian Wireless Telegraphy (Cell Broadcasting Service for Disaster Alerts) Rules, 2023 notified so as to ensure that no manufacturer shall manufacture or sell in India, any smart phone or feature phone without having Cell broadcast with featured notified under this rule. Further manufacturer of Phone should also ensure that such facilities are implemented …
Corporate Laws: Additional affirmations to confirm by Practicing Company Secretaries (PCS) in Annual Secretarial Compliance Report (ASCR). [NSE Circular Ref No: NSE/CML/ 2023/30 Dated 10th April 2023]
Corporate Laws: Govt notifies 7.1% interest rate on Deposit made under non-government PF, superannuation and gratuity with effect from 1st April 2023 to 30th June 2023 [Notification F. No. 5(3)-B(PD)/2023 dated 10th April 2023]
Income Tax: CBDT notifies Cost Inflation Index for Financial Year 2023-24 at 348. [Notification No. 21/2023 dated 10th April 2023]
Income Tax: CBDT notifies ‘Central Board of Secondary Education’ Under section 10(46). [Notification No. 18/2023, 19/2023 & 20/2023 dated 10th April 2023]
DGFT: Procedure for filing an application, issuance of Registration Certificate (RC) for import of Isopropyl Alcohol [under ITCHS Code 29051220] subject to country wise Quantitative Restrictions (QR) for the year 2023-24 have been specified. [Public Notice No.4/2023 dated 11th April 2023]
Customs: Definitive anti-dumping duty on imports of “Ursodeoxycholic Acid (UDCA)” originating in or exported from China PR and Korea RP for a period of 5 Years. [Notification No.4/2023- Customs (ADD) Dated 10th April 2023]
Customs: Export duty @20% is exempted on Rice in the husk (paddy or rough) of seed quality. [Notification No.30/2023- Customs Dated 10th April 2023]
Corporate Law: Ministry of Electronics & Information Technology issued further amendments to ‘The Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 so as to define ‘Online Real Money Games’ and its guidelines and instructions. [Notification No. G.S.R. 257(E ) dated 6th April 2023]
FEMA/RBI: Master Directions issued on Outsourcing of Information Technology Services as “Reserve Bank of India (Outsourcing of Information Technology Services) Directions, 2023”. [RBI/2023-24/102 DoS.CO.CSITEG/SEC.1/31.01.015/2023-24 dated 10th April 2023]
FEMA/RBI: A software application called ‘APConnect’ has been developed for processing of application for licensing of FFMC (Full Fledged Money Changers), non-bank AD Cat-II, authorisation as MTSS Agent, renewal of existing license / authorisation, for seeking approval as per the extant instructions and for submission of various statements/returns by FFMCs and non-bank AD Cat-II banks. …
Income Tax: CBDT notifies revised jurisdictions under Rule 114F of Income Tax Rules 1962 stating an investment entity to define ‘passive non-financial entity’. [Notification No.17/2023 dated 6th April 2023]
DGFT: Issuance of EODC for AA and EPCG process identified by DGFT portal, accordingly AA closure application may be submitted with or without data validations and EPCG closure applications may also be submitted online without validation as per provided steps. [Trade Notice No.01/2023-24 dated 6th April 2023]
DGFT: Policy conditions for exports and Halal Certification Process for Meat & Meat Products amended so as to streamline the process. [Notification No. 03/2023 dated 6th April 2023]
