CBIC reduces the e-invoice limit to Rs.10 crore wef 1st October 2022.
e-Invoice is a system in which B2B invoices are authenticated electronically by GSTN for further use on the common GST portal. Under the electronic invoicing system, an identification number will be issued against every invoice by the Invoice Registration Portal (IRP) to be managed by the GST Network (GSTN).
Private players can use drones for delivery purposes in accordance with Drone Rules, 2021.
Drones are required to have the necessary type certification issued by Directorate General of Civil Aviation (DGCA). No type certification is however required in case of nano drones (up to 250 gram all-up weight) and model drones made for research and recreation purpose.
The Foreign Exchange Management (Borrowing and Lending) (Third Amendment) Regulations, 2022.
Through this amendment, RBI has temporarily increased the borrowing limit of USD 750 million or equivalent per financial year to USD 1500 million or equivalent.
Ministry of Communications invites comments on the Consultation Paper on ‘Need for a new legal framework governing Telecommunication in India’.
There have been rapid advances in telecommunication technology and corresponding proliferation of licenses, registrations, authorizations, permissions etc. in the telecommunication sector. The exclusive privilege of the Government to do things necessary in the context of telecommunication to provide telecommunication services, establish and maintain telecommunication network and infrastructure, is well recognized under laws of various jurisdictions.
MNRE extends the implementation date of Quality Control Order, 2017 for SPV inverters to 31st December 2022.
The Government earlier issued the solar PV system, Devices and Components Goods (Requirements for Compulsory Registration) Order, 2017, for the requirement of compulsory registration with six products included in the schedule on 5th September 2017. Since then, the deadline has been extended several times.
Operational Circular for clarification on listing obligations and disclosure requirements for Non-convertible Securities, Securitized Debt Instruments and/or Commercial Paper
The circular provides formats for filings like Standalone financial results on a quarterly basis and Standalone and Consolidated financial results on an annual basis (to be submitted to the Stock Exchanges and placed on listed entity’s website).
Procedure for unit holders of Asset Management companies to opt out of nomination
Asset Management Companies shall provide an option to the unit holder(s) to submit either the nomination form or the declaration form for opting out of nomination in physical or online as per the choice of the unit holder(s).
Capped trade margin for medical devices
Trade margin of five medical devices, namely, (i) Pulse Oximeter, (ii) Blood Pressure Monitoring Machine, (iii) Nebulizer, (iv) Digital Thermometer, and (v) Glucometer at capped at 70%.
Framework for automated deactivation of trading and demat accounts in cases of submission of inadequate KYCs by trading members
If the stock exchanges and depositories are not able to deliver the SCN or order, as the case may be, at any of the addresses mentioned in the KYC records linked to any trading/ demat account of the entity; and obtain a signed acknowledgement of its receipt from the entity or its authorized representative, then they shall deactivate all such trading and demat accounts.
DGFT issues clarification regarding Non- Ferrous Metal Import Monitoring System (NFMIMS).
DGFT has clarified that the information relating to proper quality control order (QCO) description can be treated as optional category in the description filed by importer under NFMIMS. Since the QCO information is optional information therefore, it is not mandatory for the custom officer to check QCO description under NFMIMS. However custom officer has to consider the provisions/rules under other laws of the land at the time of clearing the bill of entries.
