Highlights from team CA Cult (August 2021- Third Week)
Weekly Key Highlights from team CA Cult (August 2021- Third Week)
Important Updates from last week:
Central Board of Direct Taxes (CBDT):
- Income-tax Appellate Tribunal, Assistant Director (Official Language), Group ‘A’, Recruitment Rules, 2020.
- CBDT inserted Rule 12AA and 51B under Income-tax Rules via Income-tax (24th Amendment) Rules, 2021 dated 18th August, 2021.
Central Board of Indirect Taxes & Customs (CBIC):
- Amendment in Circular No.38/2016-Customs with the insertion of a new entry 5(d) to enable Pr.Commissioners/Commissioners of Customs to decide the amount of security required in certain cases of provisional assessments – Circular No. 19/2021-Customs.
- De-notification of Inland Container Depots/Container Freight Stations/Air Freight Stations – Circular No. 20/2021.
- Verification of the Preferential Certificates of Origin and difficulties being faced by the trade-in implementation of the Customs (Administration of Rules of Origin under Trade Agreements) Rules (CAROTAR), 2020- Instruction No. 18/2021-Customs.
- Instructions and clarifications by Directorates/Commissionerates/Audit: Scope of Section 151 A of the Customs Act, 1962 – Instruction No. 19/2021-Customs.
- Seeks to amend notification No. 57/2000-Customs dated 08.05.2000 providing for the extension of the last date of export by six months, for those cases where the last date of export falls between 01.02.2021 and 30.06.2021- Notification No. 39/2021 – Customs.
- Seeks to amend Notification number 34/2021- Customs dated 29.06.2021, for reduction in the BCD on Crude Soya Oil [1507 10 00] from 15% to 7.5%; Crude Sunflower Oil [1512 11 10] from 15% to 7.5%; Refined Soya Oil [1507 90 10] from 45% to 37.5%; Refined Sunflower Oil [1512 19 10] from 45% to 37.5%, from 20th August 2021 till 30th September 2021- Notification No. 40/2021- Customs.
- Companies (Creation and Maintenance of databank of Independent Directors) Second Amendment Rules, 2021.
- Companies (Appointment and Qualification of Directors) Amendment Rules, 2021.
- Central Government designated the Special Court for the purpose of providing speedy trial- Notification.
Directorate General of Foreign Trade (DGFT)
- Amendment in Export Policy of COVID-19 Rapid Antigen testing kits- Notification No. 18/2015-20.
- Scheme Guidelines for Remission of Duties and Taxes on Exported Products (RoDTEP)- Notification No. 19/2015-2020.
- Procedure and Criteria for submission and approval of applications for export of COVID-19 Rapid Antigen Testing kits- Trade Notice No. 16/2021-22.
- Reserve Bank of India introduces the Financial Inclusion Index- Press Release.
- RBI issued Revised Instructions on Safe Deposit Locker/Safe Custody Article Facility provided by the banks.
- Commencement Notification dated 19th August 2021.
- Foreign Exchange Management (FEMA) (Non-debt Instruments) (Second Amendment) Rules, 2021.
Securities and Exchange Board of India (SEBI):
- SEBI issues Directions to NCDEX regarding trading in Chana- Press Release.
- Penalty for Repeated Delivery Default- SEBI Circular.
Institute of Chartered Accountants of India (CA Fraternity)
- Important update on excess leaves taken by Article Assistant.
- Notification for Online Assessment Test (AT) for Certificate Course on Forensic Accounting and Fraud Detection on Saturday the 11th September 2021 Organised by Digital Accounting & Assurance Board of ICAI.
- Important Announcement on Extension of last attempt to appear in CA Final and Intermediate old course examination- ICAI.
- Announcement on Multipurpose Empanelment Form (MEF) – 2021-22
Other Updates:
- Pilot Launch of International Bullion Exchange – The Gateway for Bullion Imports.
- THE GENERAL INSURANCE BUSINESS (NATIONALISATION) AMENDMENT ACT, 2021- NOTIFICATION.
- Constitution (One Hundred and Fifth Amendment) Act 2021.
Compliance Calendar: https://cacult.com/calendar-2/
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