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Notifications/Circulars

Weekly newsletter from Chairman, CBIC dated 28/03/2022

March 28, 2022 681 Views 0 comment Print

One can’t connect the dots looking forward; one can only connect them looking backward. So we have to trust that the dots will somehow connect in our future. You have to trust in something — your gut, destiny, life, karma, whatever just never stop learning and exploring.

Extension of timelines for sale & renewal of short term Covid specific health insurance policies

March 28, 2022 693 Views 1 comment Print

Corona Kavach Policies offered as per Guidelines on Covid Standard Indemnity based Health Policy and Corona Rakshak Policies offered as per Guidelines on Covid Standard benefit based Health Policy are permitted to be offered and renewed by all insurers up to 30.09.2022.

Penalty Waiver for late filing of Bill of Entry due to error 511 & 512

March 28, 2022 10104 Views 0 comment Print

It has ‘come to notice that the importers/ Custom Brokers have been facing difficulty in filing Bills of Entry relating to IGCR due to the Error code 511 and 512 showing on the Customs Portal as a result of which, late filing penalty is getting imposed on them.

CBDT extends timelines under TOLA

March 28, 2022 19251 Views 0 comment Print

CBDT extends time line under Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (TOLA) vide Notification No. 16/2022 Income Tax, [S.O. 1440(E)] dated: 28th March, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 28th March, 2022 Notification No. 16/2022 Income Tax S.O. 1440(E).—In exercise […]

Faceless Jurisdiction of Income-tax Authorities Scheme, 2022

March 28, 2022 5052 Views 0 comment Print

For the purpose of Faceless Jurisdiction of Income-tax Authorities Scheme, 2022 the exercise of all or any or the powers and performance of all or any of the functions conferred on, or, as the case may be, assigned to income-tax authorities, by or under the Act as referred to in section 120 of the Act;

Modified version for filing Online Complaints under MahaRera

March 28, 2022 1197 Views 0 comment Print

Modified version for filing Online Complaints under MahaRera, shall now ask the complainants while creating a new registration for Complainant Name, Complainant Middle Name, Complainant Last Name, Complainant Mobile Number and Complainant Email ID in addition to such other details.

Calculation of investment concentration norm for Category III AIFs

March 28, 2022 1041 Views 0 comment Print

Existing Category III AIFs may opt for calculating investment concentration norm based on investable funds with the approval of their trustees or board of directors or designated partners, as the case may be, and inform the same to their investors within 30 days from the date of the issuance of this circular.

Product specifications pertaining to Electronic Gold Receipts

March 28, 2022 276 Views 0 comment Print

The framework, inter-alia, states that the entire transaction in EGR segment has been divided into three tranches. In tranche 1, physical gold will be converted into EGR; in tranche 2, EGR shall be traded on stock exchanges; and in tranche 3 – EGR can be converted into physical gold.

Special Bank Clearing operations on March 31, 2022

March 28, 2022 1581 Views 0 comment Print

Further, to facilitate accounting of all the Government transactions for the current financial year (2021-22) by March 31, 2022, it has been decided to conduct Special Clearing exclusively for Government Cheques across the three CTS grids on March 31, 2022

Constitution (Scheduled Castes and Scheduled Tribes) Orders (Second Amendment) Bill, 2022

March 28, 2022 2793 Views 0 comment Print

Constitution (Scheduled Castes and Scheduled Tribes) Orders (Second Amendment) Bill, 2022 seeks to amend the Constitution (Scheduled Castes) Order, 1950 and the Constitution (Scheduled Tribes) (Uttar Pradesh) Order, 1967, by mending the lists of Scheduled Castes and Scheduled Tribes in respect of the State of Uttar Pradesh.

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