The Customs Authority for Advance Rulings Regulations, 2021
Customs Authority for Advance Rulings shall have the power to hear and determine all applications and petitions and to issue advance rulings.
Chennai Port Trust has granted a concession of 80% for stevedoring operations.
The Chennai Port Trust Board vide its trade notice dated 20th January 2021 has decided to offer a concession of 80% on 192% general levy for stevedoring operations on agricultural products such as cereals and pulses of all kinds including sugar of all kinds in bags or jumbo bags or palletized on scale of rates […]
DGFT provides procedure and criteria for submission of applications for export of diagnostic kits
The online applications for export of diagnostic kits shall be submitted during the period between 21.01.2021 and 31.01.2021. The validity of the license shall be three months.
Online portal for importers/exporters to submit application for relaxation in FTP/HBP
All applications for relaxation in FTP shall be submitted online through the e-PRC system w.e.f 25.01.2021.
IFSCA extends the timeline for submission of public comments on draft International Financial Services Centres Authority (Aircraft Leasing) Regulations.
A Lessor may conduct its business in an International Financial Services Centre in any mode as permitted by the Authority, including through a subsidiary or a special purpose vehicle or LLP.
Ministry of Shipping invites comments on Draft Dredging Guidelines for major ports.
The draft guidelines aim to move towards the international standard of working by adopting CIRIA methodology for cost estimation of dredging works, PIANC classification for soil modeling, and survey techniques based on the International Association of Ports and Harbours (IAPH)/International Hydrographic Organization (IHO) requirements.
DGFT has revised the export policy of medical goggles and nitrile/NBR Gloves.
DGFT has now amended the export policy of medical goggles and Nitrile/NBR gloves from restricted to free category making all types of medical goggles and Nitrile/NBR gloves freely exportable.
The Foreign Exchange Management (Non-debt Instruments) (Fourth Amendment) Rules, 2020
The amendment provides that a Multilateral Bank or Fund, of which India is a member, shall not be treated as an entity of a particular country nor shall any country be treated as the beneficial owner of the investments of such Bank or Fund in India.
CBIC clarifies applicability of Exports (Clearance) Regulations, 1998 and Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2010
It is clarified that Exports (Clearance) Regulations, 1998 and Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2010 do not restrict export of gems and jewelry through courier mode.
RBI delegates power to compound certain contraventions to Regional Offices/ Sub Offices
Issue of shares without approval of RBI or Government, Receiving investment in India from non-resident or taking on record transfer of shares by Investee Company etc. shall now be compounded by Regional Offices/ Sub Offices of the Reserve Bank.