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/ 2023/30Â 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 âCentral Board of Secondary Educationâ 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 âThe Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 so as to define âOnline Real Money Gamesâ 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 âReserve Bank of India (Outsourcing of Information Technology Services) Directions, 2023â. [RBI/2023-24/102 DoS.CO.CSITEG/SEC.1/31.01.015/2023-24 dated 10th April 2023]
FEMA/RBI: A software application called âAPConnectâ 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 âpassive non-financial entityâ. [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]
Customs: Standing Order for Clearance of import consignments where duty payment is not reflected in ICES also issued with procedure to follow. [JNCH Standing Order No. 06/ 2023 & Public Notice No.28/2023 dated 6th April 2023]
Customs: Standing order issued for clearance of perishable cargo where payments done but not reflected in ICES, with grant of manual Out Of Charge if the importer produces a bank certificate indicating the payment of duty amount along with an undertaking that in case duty is found to be not credited, the importer shall deposit …
Customs: Customs(Waiver of Interest)Order, 2023 issued, due to technical difficulties on common portal the Central Board of Indirect Taxes and Customs, hereby waives the whole of interest payable under sub-section (2)of section 47 of the said Act, for the period from 1st April 2023 up to and including the 10th April, 2023, in respect of …
Customs: Extension of imposition of Anti-Dumping Duty on imports of âFishing Netâ falling under Tariff Heading â56081110â originating in or exported from China PR till 9th Sept 2023. [Notification No.3/2023-Cus (ADD) dated 6th April 2023]
Judicial Corner : Central Excise: CESTAT Delhi held that extended period of limitation is not invocable when department is being fully aware of issue when audit was conducted and show cause notice for previous period on the same issued was already issued.
