Statutory updates

37/2023-Customs : Seeks to allow imports of Crude Soya-bean Oil and Crude Sunflower Oil at zero Basic Customs Duty and zero Agriculture Infrastructure and Development Cess for TRQ license holders for FY 2022-23 up to the 30th June, 2023.

Income Tax Exemption for Pune Metropolitan Region Development Authority

The Central Government notifies specified income of the Pune Metropolitan Region Development Authority for income tax exemption under section 10 of the Income-tax Act, 1961.

Exemption for Food Safety and Standards Authority of India

The Central Government notifies the Food Safety and Standards Authority of India for specified income under clause (46) of section 10 of the Income-tax Act, 1961.

Retirement Income Optimization through Multiple Annuities

The Pension Fund Regulatory and Development Authority (PFRDA) has introduced the option for National Pension System (NPS) subscribers to purchase multiple annuity schemes from a…

Amendment to GTA Forward Charge Option Deadline

The Central Government amends notification 11/2017-Central Tax (Rate) to extend the deadline for Goods Transport Agencies to opt for the forward charge payment mechanism.

Amendment to GTA Forward Charge Option Deadline

The Central Government amends the notification regarding the Integrated Goods and Services Tax rate for Goods Transport Agencies.

Amendment to GTA Forward Charge Option Deadline

The Central Government amends the Union Territory Tax (Rate) notification to extend the deadline for Goods Transport Agencies (GTA) to choose the forward charge payment method.

Operations at Disaster Recovery Site of Broker Dealers and Clearing Members

Broker Dealers and Clearing Members registered with IFSCA may set up Disaster Recovery sites in India.

IRAC and Provisioning Master Circular for Urban Co-operative Banks

This master circular consolidates instructions on income recognition, asset classification, and provisioning for urban co-operative banks.

33/2023-Customs (NT) : Exchange rate Notification No. 33/2023-Cus (NT) dated 04.05.2023-reg

Stop Loan Repayment Facility Through Credit Card for Insurance Policies

The Insurance Regulatory and Development Authority of India stops the facility of repayment of loans taken against insurance policies through credit cards.

India-Chile Double Taxation Avoidance Agreement

The Central Government notifies the agreement and protocol with the Republic of Chile for the elimination of double taxation and the prevention of fiscal evasion with respect to…

34/2023-Customs : Seeks to amend various electronics related notifications in order to align the HS Codes of the said notifications with the Finance Act, 2023, w.e.f. 01.05.2023

35/2023-Customs : Seeks to amend 50/2017-Customs in order to align the HS Codes of the said notifications with the Finance Act, 2023, w.e.f. 01.05.2023

36/2023-Customs : Seeks to amend the various Customs Tariff notifications in order to align the HS Codes of the said notifications with the Finance Act, 2023, w.e.f. 01.05.2023

32/2023-Customs (NT) : Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Customs Duty PMP Amendments for Wearable and Hearable Devices

The Central Government amends notification Nos. 11/2022-Customs and 12/2022-Customs to add a proviso.

Amendment to Notification No. 19/2022-Customs (N.T.)

The Central Board of Indirect Taxes and Customs amends Notification No. 19/2022-Customs (N.T.) to change a date.