Statutory updates

DSV Holding Germany GmbH

Food Safety and Standards (Amendment) Rules, 2024

The Central Government amends the Food Safety and Standards Rules, 2011 to update rule 3.1.1.

Income Tax Exemption for Petroleum and Natural Gas Regulatory Board

The Central Government notifies the Petroleum and Natural Gas Regulatory Board for the purposes of section 10 clause 46A of the Income-tax Act.

De-Notification of ICD Pimpri, Maharashtra

The Central Board of Indirect Taxes and Customs amends notification No. 12/97-Customs (NT) to de-notify Inland Container Depot Pimpri in the State of Maharashtra.

Harish Kumar and M/s S B Telecommunication & Others

Insurance Amount and Bond Value for CCSPs and Bond Validity

The Central Board of Indirect Taxes and Customs reduces the insurance calculation period and custodian bond value for Customs Cargo Service Providers from ten days to five days.

75/2024-Customs (N.T) : Amendment in Regulation 5 and 10 of HCCAR, 2009

Ruby Asia Holdings and Singtel Interactive Combination Order

The Competition Commission of India approves the acquisition of up to twenty-six percent of the issued ordinary shares in STT GDC Pte.

Import of Inputs Subject to QCOs by Advance Authorisation Holders, EOU and SEZ

The Directorate General of Foreign Trade adds the Ministry of Heavy Industries to Appendix 2Y of the Foreign Trade Policy 2023.

Satellite Network Filings Submission Guidelines and Procedures for ITU

Indian entities must obtain an Advisory Note from IN-SPACe and submit satellite network filings to the Wireless Planning and Coordination Wing for onward transmission to the…

Monetary Limits for Reduction or Waiver of Interest Under Section 220(2)

The Central Board of Direct Taxes sets monetary limits for income-tax authorities to reduce or waive interest under section 220(2) of the Income-tax Act.

Amendment in 4.59 of Handbook of Procedures, 2023 and modification in Standard Input Output (SION) M-1 to M-8 for export of jewellery

Further abeyance of Public Notice No 05/2024 until 31.12.2024

The Directorate General of Foreign Trade keeps Public Notice No. 05/2024 in abeyance until 31st December 2024.

Mandatory Additional Qualifiers for Synthetic and Reconstructed Diamonds

Importers and exporters must declare mandatory additional qualifiers for synthetic or reconstructed diamonds in import and export declarations.

73/2024-Customs (NT) : Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

74/2024-Customs (NT) : Sea Cargo Manifest and Transhipment (Fourth Amendment) Regulations, 2024

Amendment to Framework for Aircraft Lease on Resident Transactions

The International Financial Services Centres Authority amends the Framework for Aircraft Lease to restrict transactions involving persons resident in India.

Condonation of Delay for Returns Claiming Deduction u/s 80P for AY 2023-24

The Central Board of Direct Taxes extends the applicability of Circular No. 13/2023 to the assessment year 2023-24.