"03 July 2023" Archive

SEBI (Issue & Listing of Non-Convertible Securities) (Second Amendment) Regulations, 2023

Notification No. SEBI/LAD-NRO/GN/2023/135 03/07/2023

Stay updated with the latest amendments to the Securities and Exchange Board of India (SEBI) regulations for Issue and Listing of Non-Convertible Securities. Learn about the changes introduced through the Second Amendment Regulations 2023. Read the full notification for more details....

IP Suspended by IBBI for Non-Submission & Lack of Cooperation

Order No. No. IBBI/DC/182/2023  03/07/2023

Read the analysis and conclusion of the contraventions found in the case of Mr. Rohit Vora, including non-submission of required forms and lack of cooperation with investigating authorities. As a result, his registration has been suspended for one year. Learn more about the implications of this order and the actions taken....

CBIC Chairman’s Weekly Update: GST Anniversary and Customs Operations

DO No. 12/CH(IC)/2023  03/07/2023

Read the latest update from Vivek Johri, Chairman of the Central Board of Indirect Taxes & Customs (CBIC), covering the 6th anniversary of GST, customs administration meetings, anti-smuggling operations, trade promotion efforts, and officer empanelment. Stay informed about the significant developments in taxation and customs enforcement....

Quota allocation procedure for Broken Rice Export: DGFT Trade Notice No. 13/2023

Trade Notice No.13/2023-DGFT 03/07/2023

Learn about revised procedure for allocation of quota for export of broken rice on humanitarian and food security grounds. Find out extended application submission deadline for export licenses to Senegal, Gambia, and Indonesia. Non-compliance consequences and relevant provisions are also highlighted in this DGFT trade notice....

SEBI Repeals Ombudsman Regulations 2003

Notification No. SEBI/LAD–NRO/GN/2023/138 03/07/2023

Read about latest notification by SEBI regarding repeal of SEBI (Ombudsman) Regulations, 2003 via SEBI (Ombudsman) (Repeal) Regulations, 2023. Learn about impact of the repeal and implications for previous operations, rights, and legal proceedings....

Import Policy Relaxed for Areca Nut Imports from Bhutan via LCS Chamurchi

Notification No. 17/2023-DGFT [S.O. 2902(E)] 03/07/2023

Ministry of Commerce and Industry has issued a notification amending the import policy for Areca nuts under ITC(HS) code 08028010. The revised policy allows the import of 17,000 Metric Tonnes of Fresh(green) Areca nuts without a Minimum Import Price (MIP) condition from Bhutan through LCS Chamurchi (INCHMB). Stay updated with the latest i...

Import of Potatoes from Bhutan Allowed without License until June 2024

Notification No. 16/2023-DGFT [S.O. 2901(E)] 03/07/2023

DGFT issued a notification amending import policy for Potatoes under ITC(HS) code 07019000. The revised policy allows import of Potatoes from Bhutan without any license until June 2024. Stay updated with latest import policy changes....

Extended period of limitation cannot be invoked on a legitimate buyer

Jai Balaji Industries Limited Vs Commissioner of Central Excise (CESTAT Kolkata)

CESTAT set aside the order demanding excise duty and held that the buyer who has paid a valuable consideration could not be proceeded upon by taking the aid of a larger period of limitation as per Section 11A(1) of the Central Excise Act, 1944 unless it is proved that the buyer was also involved in fraud....

SCN issued without issuance of DRC-01A is valid where entire tax amount is disputed by taxpayer

Elesh Agrawal Vs Union of India (Allahabad High Court)

HC held that in case where assessee has disputes all the facts and allegation stated in the show cause notice the requirement of issuance of DRC-01A would be mere formality however, if issuance of DRC-01A would have serviced any benefit to the assessee, it would have been imperative for the court to enforce such notice on the Revenue Auth...

Celebrating 6th GST Day: A Milestone in India’s Economic Progress

Ministry of Finance celebrated the 6th Goods and Services Tax (GST) Day, with Union Finance Minister Smt. Nirmala Sitharaman presiding over the event. The occasion highlighted the success of GST in promoting cooperative federalism, easing the tax burden on taxpayers, and driving economic growth. The event also honored the contributions of...

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