Import of inflammatory Diagnostic kits exempted from customs duty
The Department of Revenue has exempted from the whole of the duty of customs leviable on the import of Inflammatory Diagnostic (marker) kits, namely- IL6, D-Dimer, CRP(C-Reactive Protein), LDH (Lactate De-Hydrogenase), Ferritin, Pro Calcitonin (PCT) and blood gas reagents.
CBIC relaxes timelines for GST compliances in view of Covid-19 situation
The due date for filing details of outward supplies in FORM GSTR-1 for the tax period April, 2021, shall be extended till the twenty-sixth day of the month succeeding the said tax period.
CBDT extends time lines for following IT Act compliances
The Central Board of Direct Taxes has extended time lines for compliances related to adjudication under the Income-tax Act 1961 in view of increased Covid-19 cases and lockdown restrictions.
DGFT allows import of oxygen concentrators for personal use till 31st July 2021.
Import of goods, including those purchased from e-commerce portals, through post or courier, where Customs clearance is sought as gifts, is prohibited except for life saving drugs / medicines/ oxygen concentrators and Rakhi (but not gifts related to Rakhi).
DGFT Increases the fee for issuing Certificate of Origin.
The maximum Fees for issuing Certificate of Origin shall be Rs. 200 per certificate.
CBDT notifies Income-tax (12th Amendment) Rules, 2021.
As per the new rule, the exercise of the option by an assessee to withdraw his pending application under sub-section (1) of section 245M shall be in Form No. 34BB and it shall be verified by the person who is authorised to verify the return of income of the assesse.
CBIC reduces IGST on import of Oxygen concentrators to 12%.
Due to the demand for oxygen-related equipment has been increasing in the wake of the second wave of COVID-19 pandemic, the ministry has reduced the Integrated GST (IGST) on import of Oxygen Concentrators to 12%.
SEBI extends the timeline for updating of Scheme Information Document (SID) and Key Information Memorandum.
The Scheme Information Document shall be updated within one month from the end of the half-year, based on the relevant data and information as at the end of September and March respectively
Labour Ministry extends the public utility service status for aluminum segment services.
The services in industry Manufacturing of Alumina and Aluminium’ and ‘Mining of Bauxite’ which is covered by item 30 and 31 of the First Schedule to the Industrial Disputes Act, 1947 (14 of 1947) have been declared earlier be a Public Utility Service for a further period of six months from 26th August 2020 has now been further extended for another six months with effect from 16th April 2021.
The Labour Ministry extends the public utility service status on banking industry for another 6 months.
Due to the opinion that public interest requires the extension of the public utility service status to the Banking industry, it is extended for a further period of six months with effect from 21st April 2021.
