Highlights from team CA Cult (August 2021- Third Week)

CA Cult

3 years ago

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.

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.

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.

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.