Ministry of Chemicals and Fertilizers has issued an Order regarding capping the trade margin of Oxygen Concentrators
The trade margin of Oxygen Concentrators is sought to be capped at first point of sale, i.e. the capping of price to distributor. This will fix the Maximum Retail Price of the product. The previous notifications on this subject matter had previously extend the capping till 31st December, 2022, the present order has now has been extended to 31st March, 2023.
Bihar Goods and Services Tax (Amendment) Act, 2022
The Government of Bihar published the Bihar Goods and Services Tax (Amendment) Act, 2022 to further amend the Bihar Goods and Services Tax Act 2017. The Act was published on 4th January, 2023 and will come into force on date appointed by the State Government.. The Amendment Act provides that a registered person shall not be entitled to the credit of any input tax in respect of any supply of goods or services or both to him unless the details of input tax credit in respect of the supply communicated to a such registered person has not been restricted.
PM-YUVA Mentorship Scheme for Young Authors (YUVA) 2.0
Scholarship of Rs. 50,000 per month for a period of six months to be paid to each of the selected 75 authors. The higher educational institutions are requested to disseminate the information about the scheme to all the students and other stakeholders to encourage greater participation in this prestigious scheme
UGC launches “Stay Safe Online” Campaign
All Higher Educational institutions are requested to conduct awareness programs on cyber safety regularly through quizzes, group discussions, essay writing competitions, etc. from December 2022 to November 2023.
NSE directions to report Cyber Incident(s) for members
Members are required to report Cyber Incident(s) for the quarter ending December 31, 2022, through the member portal on or before January 15, 2023.
FSSAI extends commencement of draft Food Safety and Standards (Food Product Standards and Food Additives) Amendment Regulations
The date of implementation of Draft Food Safety and Standards (Food Product Standards and Food Additives) Amendment Regulations governing standards of Packaged Drinking Water is extended till July 01, 2023.
Clarification regarding the Due minimum benefit to be paid from the Employees’ Deposit Linked Insurance Scheme fund to the eligible family members.
A consolidated report shall be sent by Zonal Office to this office confirming that the minimum EDLI benefits have been given in all eligible cases and there are no cases of short payment.
RBI Rationalizes reporting Foreign Investment in Single Master Form (SMF) on FIRMS Portal
In cases of delayed reporting, the AD banks shall either advise the Late Submission Fee (LSF) to the applicants, which will be computed by the system or advise for compounding of contravention, as the case may be.
Gujarat Govt. amends its exemption of intra-state supplies of goods under the Gujarat GST Act, 2017
The Government of Gujarat has issued an amendment to Notification dated June 30, 2017, on the exemption of intra-State supplies of goods under the Gujarat Goods and Services Tax Act, 2017. This amendment was issued on 31st December, 2022. The amendment provides for the inclusion of Aquatic feed including shrimp feed and prawn feed, poultry feed and cattle feed, including grass, hay and straw, supplement and additives, wheat bran and de-oiled cake other than rice bran in serial in the Schedule of the notification.
U.P. Govt. clarifies on the difference in Input Tax Credit (ITC) availed in FORM GSTR-3B as compared to FORM GSTR-2A for FY 2017-18 and 2018-19
The Government of Uttar Pradesh has issued a clarification to deal with the difference in Input Tax Credit (ITC) availed in FORM GSTR-3B as compared to that detailed in FORM GSTR-2A for FY 2017-18 and 2018-19. This clarification was issued on January 02, 2023. the officer of the actual recipient shall intimate the concerned jurisdictional tax authority of the registered person, whose GSTIN has been mentioned wrongly, that ITC on those transactions is required to be disallowed if claimed by such recipients in their FORM GSTR-3B.
