ESIC relaxes eligibility condition for claiming benefits under ESIC COVID-19 RELIEF SCHEME
The revised eligibility condition provides that the deceased Insured Person must have been in employment on the date of diagnosis of COVID-19 disease and contributions for at least 35 days should have been paid or payable in respect of him/her during a period of maximum one year immediately preceding the diagnosis of COVID-19 disease resulting in death for his/her nominees to claim the insurance benefits.
DGFT extends foreign trade policy till 30th September 2022.
FTP 2015-20 introduces two new schemes, namely ‘Merchandise Exports from India Scheme (MEIS)’ for export of specified goods to specified markets and ‘Services Exports from India Scheme (SEIS)’ for increasing exports of notified services.
IFSCA notifies guidelines for liquidity enhancement scheme.
The scheme shall have the prior approval of the Governing Board of the Stock Exchange and its implementation and outcome shall be monitored by the Board at quarterly intervals and it shall specify the incentives available to the market makers /liquidity providers and such incentives may include discount in fees, adjustment in fees in other segments, cash payment or issue of shares, including options and warrants.
The Aircraft (Second Amendment) Rules, 2022.
The proficiency check carried out shall be valid for a period of twelve months from the date of the check in case of pilot conducting Visual Flight Rules operations and shall be renewed for a further period of twelve months at a time.
DGFT amends the import policy condition of urea.
DGFT in its earlier notification, amended the policy condition of Urea on ITC (HS), 2017, Schedule – I (Import Policy). In addition to Rashtriya Chemicals & Fertilizers Limited (RCF), Import of Urea is allowed through National Fertilizers Limited (NFL) and Indian Potash Limited (IPL) subject to Para 2.20 of Foreign Trade Policy, 2015-2020.
DGFT Extends Integrated Good and Service Tax (IGST) and Compensation cess exemption under Advance Authorisation, EPCG and EOU scheme up to 30.06.2022.
Exemption from Integrated Tax and compensation Cess under Advance Authorization under Para 4.14 of FTP 2015 -20 is extended upto 30.06.2022.
Discontinuation of usage of pool accounts for transactions in the units of Mutual Funds
It has been decided to extend the date of applicability of “Circulars” providing for usage of pool accounts for transactions in the units of Mutual Funds, redemption, source account verification and Two Factor Authentication to July 01, 2022
DGFT extends validity of HBP 2015-2020
DGFT has extended the validity of the Handbook of Procedures 2015-20 till the 31st of September, 2022.
Non residents exempted from TCS relaxation
If a resident of India purchases goods for manufacturing or producing other items instead of trading, such goods will not attract tax. It is clarified that this exemption shall not apply to an individual who is not a resident in India and who is visiting India.
The Customs (Electronic Cash Ledger) Regulations, 2022.
The electronic cash ledger shall be maintained in FORM ECL-1 on the common portal for each person in regard to every deposit made towards duty, interest, penalty, fee or any other sum payable by the person and the deposit made in the electronic cash ledger shall not accrue any interest.
