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Partial Modification of Membership of GST Law Committee (LC)

October 4, 2021 1887 Views 0 comment Print

In partial modification to the Office Memorandum of even no. dated 29th May 2017, 30th November 2018, 22nd January 2019, 05th March 2019, 20th August 2019, 26th August 2019 and 6th July, 2020, with respect to constitution of the Law Committee, its membership is now reconstituted as follows:

Contingency Fund of India (Amendment) Rules, 2021

October 4, 2021 4827 Views 0 comment Print

An amount equivalent to forty per cent of the Fund corpus shall be placed at the disposal of the Secretary, Ministry of Finance, Department of Expenditure for the purpose of meeting unforeseen expenditure, and beyond this limit, all further Contingency Fund releases shall be made with the approval of Secretary to the Government of India, Department of Economic Affairs, after the approval of Secretary to the Government of India Department of Expenditure.

Amendment in Export Policy of Syringes

October 4, 2021 963 Views 0 comment Print

The export of Syringes with or without Needles falling under HS code specified above or falling under any other HS code has been put under ‘Restricted’ category with immediate effect. The procedure for submission and approval of application for export of syringes will be notified separately.

RBI clarifies on amount of capital funds that can be raised overseas

October 4, 2021 459 Views 0 comment Print

Several banks have approached RBI to clarify the amount of capital funds that can be raised overseas. It is clarified that eligible amount for purpose of issue of PDIs in foreign currency would mean the higher of (a) 1.5% of Risk Weighted Assets (RWAs) and (b) Total Additional Tier 1 capital as on March 31 of the previous financial year.

Income-tax (31st Amendment) Rules, 2021 | Rule 11UE & Rule 11UF

October 1, 2021 3804 Views 0 comment Print

11UE. Specified conditions under Explanation to fifth and sixth proviso to Explanation 5 to clause (i) of sub-section (1) of section 9.− (1) For the purposes of clauses (i), (ii) and (iii) of the Explanation to fifth and sixth proviso to Explanation 5 to clause (i) of sub-section (1) of section 9, the declarant shall furnish an undertaking in Form No. 1 and shall append the undertakings from all the interested parties in Part M of the Annexure to the undertaking in Form No. 1 and furnish all the attachments required to be furnished under any clause or Part thereof.

IGST on imports related to goods from Antarctica and Border haats

September 30, 2021 864 Views 0 comment Print

Seeks to implement 45th GST Council Meeting recommendation on IGST on imports related to goods from Antarctica and Border haats vide Notification No. 47/2021-Customs Dated: 30th September, 2021. IGST exemption on specified goods when imported into India for sale in Border Haats in Tripura at Indo-Bangladesh border. IGST exemption on all goods imported from Antarctica […]

IGST on imports related to Spinal Muscular Atrophy disease- Changes

September 30, 2021 2178 Views 0 comment Print

Seeks to implement 45th GST Council Meeting recommendation on IGST on imports related to Spinal Muscular Atrophy disease, etc, as well Condition No. 102 pertaining to Services vide Notification No. 46/2021-Customs Dated: 30th September, 2021 Life saving drugs used in treatment of Spinal Muscular Atrophy or Duchenne Muscular Dystrophy exempted from levy of Customs Duty […]

IBBI (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2021

September 30, 2021 1605 Views 0 comment Print

These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2021.

IBBI (Liquidation Process) (Second Amendment) Regulations, 2021

September 30, 2021 1290 Views 0 comment Print

These Regulations may be called the Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2021. They shall come into force on the date of their publication in the Official Gazette.

Narcotic Drugs and Psychotropic Substances (Amendment) Ordinance, 2021

September 30, 2021 507 Views 0 comment Print

(1) This Ordinance may be called the Narcotic Drugs and Psychotropic Substances (Amendment) Ordinance, 2021. (2) It shall be deemed to have come into force on the 1st day of May, 2014.

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