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List of specified projects under heading 9801 of First Schedule to CTA amended

February 1, 2021 1158 Views 0 comment Print

Budget 2021– Seeks to further amend No. 42/96 – Customs, dated the 23rd July, 1996 so as to make suitable amendments to the list of specified projects under heading 9801 of the First Schedule to the Customs Tariff Act (CTA). – Notification No. 9/2021-Customs Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT […]

Duty exemption on temporary imports of costumes & props for film-making

February 1, 2021 396 Views 0 comment Print

Budget 2021– Seeks to further amend notification No. 153/94-Customs dated 13th July, 1994 so as to include temporary imports of costumes and props for film-making, in the goods exempted by the said notification– Notification No. 8/2021-Customs Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 08/2021-Customs New Delhi, the […]

Budget 2021: CBIC rescinds 3 Custom Duty Notifications

February 1, 2021 897 Views 0 comment Print

Budget 2021– Seeks to rescind notification Nos. 1/2011-Customs, dated the 6th January, 2011, 34/2017-Customs, dated the 30th June, 2017 and 75/2017-Customs, dated the 13th September, 2017– Notification No. 7/2021-Customs Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 07/2021-Customs New Delhi, the 1st February, 2021 G.S.R. 65(E).– In exercise […]

Health Cess Exemption on import of medical devices by international organizations & diplomatic missions

February 1, 2021 7692 Views 0 comment Print

Budget 2021- Seeks to further amend notification No. 08/2020-Customs dated 2nd February, 2020 so as to exempt the medical devices imported by international organizations and diplomatic missions, from the levy of Health Cess – Notification No. 6/2021-Customs Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 06/2021–Customs New Delhi, […]

Custom Notification amended to clarify scope of exemption

February 1, 2021 1017 Views 0 comment Print

Budget 2021- Seeks to further amend notification No. 24/2005-Customs dated 1st March, 2005 so as to clarify the scope of exemption under entry at S. No. 13S of the said notification- Notification No. 5/2021-Customs Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 05/2021– Customs New Delhi, the 1st […]

CBIC withdraw BCD exemption on specified parts of transformers

February 1, 2021 897 Views 0 comment Print

Budget 2021- Seeks to further amend notification No. 25/99-Customs dated 28th February, 1999 so as to withdraw BCD exemption on the specified parts of transformers- Notification No. 4/2021-Customs Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 04/2021-Customs New Delhi, the 1st February, 2021 G.S.R.62(E). – In exercise of […]

CBIC prescribes effective BCD rate on IT/Electronics items

February 1, 2021 1407 Views 0 comment Print

Budget 2021- Seeks to further amend notification No. 57/2017-Customs dated 30th June, 2017 so as to prescribe effective BCD rate on IT/Electronics items- Notification No. 3/2021-Customs Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 03/2021 – Customs New Delhi, the 1st February, 2021 G.S.R.61(E). – In exercise of […]

Budget 2021- CBIC prescribes effective rate of Basic Customs Duty

February 1, 2021 8976 Views 0 comment Print

Budget 2021- Seeks to further amend notification No. 50/2017-Customs dated 30th June, 2017 so as to prescribe effective rate of Basic Customs Duty (BCD). Notification No. 2/2021-Customs Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 2/2021-Customs New Delhi, the 1st February, 2021 G.S.R.60(E).- In exercise of the powers […]

Fast track mergers extended to Starts ups & other small companies

February 1, 2021 6075 Views 0 comment Print

(1) These rules may be called the Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette.

MCA revises threshold for paid up capital and turnover for Small Companies

February 1, 2021 9642 Views 0 comment Print

For the purposes of sub-clause (i) and sub-clause (ii) of clause (85) of section 2 of the Act, paid up capital and turnover of the small company shall not exceed rupees two crores and rupees twenty crores respectively.

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