Statutory updates

01/2024-Customs (NT) : Exchange Rate Notification No. 01/2024-Cus (NT) dated 04.01.2024-reg

Specified Investment Activity for Non-Residents in IFSC Under Section 10

The Central Government notifies investment activity in a financial product by a non-resident as a specified activity under section 10.

Corrigendum to Notification No. 89/2023 Designation

The Central Board of Direct Taxes issues a corrigendum to change a notification number in a prior publication.

01/2024-Central Tax (Rate) : Seeks to amend Notification No 01/2017- Central Tax (Rate) dated 28.06.2017.

01/2024-Integrated Tax (Rate) : Seeks to amend Notification No 01/2017- Integrated Tax (Rate) dated 28.06.2017

01/2024-Union Territory Tax (Rate) : Seeks to amend Notification No 01/2017- Union Territory Tax (Rate) dated 28.06.2017.

Raw Cane Sugar TRQ Allocation to USA for US Fiscal Year 2024

The Director General of Foreign Trade allocates a quantity of 8606 MTRV for the export of raw cane sugar to the USA under the TRQ scheme for the US fiscal year 2024.

Import Policy Amendment for Screws under HS Code 7318

The Central Government amends the import policy and policy condition for specific screws under Chapter 73 of the ITC (HS) 2022 from Free to Prohibited.

Commercial Paper and Non-Convertible Debentures Directions, 2024

Eligible entities must follow the Reserve Bank of India Master Direction for issuing commercial papers and non-convertible debentures with an initial maturity of up to one year.

Competition Commission of India Case No. 06 of 2023 Investigation Order

The Competition Commission of India forms a prima facie opinion about the contravention of the provisions of the Competition Act in Case No. 06 of 2023.

Yogesh Pratap Singh  And  PVR Ltd.

Income Tax Exemption for Bellary Urban Development Authority

The Central Government notifies specified income of Bellary Urban Development Authority for tax exemption under clause (46) of section 10 of the Income-tax Act, 1961.

Karnataka State Rural Livelihood Promotion Society Income Exemption

The Central Government notifies specified income of Karnataka State Rural Livelihood Promotion Society for income tax exemption under section 10 clause (46) of the Income-tax Act…

Madhya Pradesh Professional Examination Board Income Tax Exemption

The Central Government notifies specified income of the Madhya Pradesh Professional Examination Board for income tax exemption under section 10 of the Income-tax Act, 1961.

PSPCL Acquisition of GVK Power Goindwal Sahib

The Competition Commission of India approves the proposed acquisition of one hundred percent shareholding of GVK Power (Goindwal Sahib) Limited by Punjab State Power Corporation…

Amendment to Foreign Trade Policy 2023 for Used IT Assets

The Central Government amends Paragraph 2.31 of the Foreign Trade Policy 2023 to notify the import policy for used IT assets from a Special Economic Zone to the Domestic Tariff…

Amendment to Customs Notification No. 96/2008 for Congo

The Central Government amends Notification No. 96/2008-Customs to add the Democratic Republic of Congo to the schedule.

68/2023-Customs : Seeks to give effect to 3rd Tranche of Tariff Concession under India Australia ECTA