Banks are advised to make necessary arrangements at their branches to accommodate customers seeking to exchange ₹2000 banknotes. This includes providing shaded waiting spaces, drinking water facilities, and other amenities, considering the ongoing summer season.
The export of Cough Syrup under ITC (HS) Codes falling under the Heading 3004 shall be permitted subject to the export sample being tested and production of Certificate of Analysis (CoA) issued by any of the laboratories as mentioned in Para-1 above, with effect from 1st June 2023. MINISTRY OF COMMERCE AND INDUSTRY (Department of […]
RBI decided to withdraw ₹2000 denomination banknotes from circulation. Banknotes in ₹2000 denomination will continue to be legal tender.
No section 194A TDS on interest from Mahila Samman Savings Certificate – Notification No. 27/2023-Income Tax | Dated: 16th May, 2023 Introduction: The Mahila Samman Savings Certificate is a financial instrument that aims to empower and provide financial security to women in India. This government-backed scheme not only encourages women to save but also offers attractive interest […]
Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023 amends Foreign Exchange Management (Current Account Transactions) Rules, 2000, under the Foreign Exchange Management Act, 1999. Title and Commencement: The amendment is titled the Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023. It states that the rules come into force on the date of their […]
Govt reduces Special Additional Excise Duty (SAED) on production of Petroleum Crude from Rs.4100 per tonne to Rs. Rs. Nil per tonne w.e.f. 16th May, 2023 Vide Notification No. 22/2023-Central Excise | Dated: 15th May, 2023. MINISTRY OF FINANCE (Department of Revenue) Notification No. 22/2023-Central Excise | Dated: 15th May, 2023 G.S.R. 366(E).—In exercise of the […]
MCA notifies Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2023 with effect from 15th day of June, 2023 vide notification, numbered G.S.R. 367(E), dated May 15, 2023, and introduces amendments to the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. Here’s an analysis of the key information conveyed in the notification: Amendment Details: ♦ The amendments […]
Securities and Exchange Board of India (Employees’ Service) (Amendment) Regulations, 2023 modifies the Securities and Exchange Board of India (Employees’ Service) Regulations, 2001. In the Schedule of the 2001 regulations, in the Table, column 3, there is an insertion of additional qualification requirements for officers in the Legal Stream in Grade ‘A.’ The new requirement […]
Banks/FIs are advised to ensure that no new transaction undertaken by them or their customers rely on or are priced using the US$ LIBOR or the MIFOR. Banks/FIs are also advised to take all necessary steps to ensure insertion of fallbacks in all remaining legacy financial contracts that reference US$ LIBOR (including transactions that reference MIFOR).
Ready-to–drink/ Low alcoholic beverages, shall be low alcoholic, flavored beverages having more than 0.5 to 8.0% of alcohol ABV, made from spirit or the mixture of spirit or any alcoholic beverage other than wine and beer as base by adding natural/nature identical/artificial flavors and/or food additives permitted under the FSS (FPS&FA) Regulations 2011; and/or fruit/vegetable juice with or without added sugar/salt and with or without carbonation.
