BCAS submits feedback on RBI’s draft FEMA regulations, highlighting liberalized rules aimed at enhancing Ease of Doing Business. BCAS offers further discussion on suggestions.
Indo Continental Hotels And Resorts Pvt. Ltd. Vs State of U.P. – Allahabad High Court held that stamp duty cannot be levied based on speculative future use or potential market value unless officially reclassified by State from industrial to commercial. Since no such change had been formally declared, the deficiency was deemed improper.
The CBIC issues the third amendment to the Sea Cargo Manifest and Transshipment Regulations, extending transitional provisions for specific ports.
The Ministry of Communication has issued the Telecommunications (Digital Bharat Nidhi) Rules, 2024, outlining regulations for telecom services in underserved areas.
The ICAI has removed five Chartered Accountants from its Register for professional misconduct, imposing fines and suspensions ranging from one month to three years.
The Indian government has amended the Central Excise duty to Rs. 1850 per tonne effective from August 31, 2024, under the Central Excise Act, 1944.
India revises customs tariff values for palm oil, soya bean oil, gold, silver, brass scrap, and areca nuts, effective August 31, 2024, under the Customs Act, 1962.
The CBDT launches the e-Dispute Resolution Scheme, 2022 to reduce tax litigation, offering eligible taxpayers a streamlined process to resolve disputes.
DGFT extends abeyance of Public Notice No. 05/2024 on wastage norms for gold, platinum, and silver content in exports until 15th September 2024 for further review.
The Indian government amends the Insulated Containers Quality Control Order, 2024, allowing sales of pre-certified stocks for six months after the amendment.
