May, 2021 – Issue No. III

GST

Special Refund and Drawback Disposal Drive introduced for priority disposal of IGST refund claims pending as on 14.05.2021. Scheme applicable from 15.05.2021 to 31.05.2021.

Next GST Council meeting to be held on 28.05.2021.

CUSTOMS
Special Refund and Drawback Disposal Drive introduced to ease liquidity of MSMEs / Exporters during COVID19. Scheme applicable from 15.05.2021 to 31.05.2021.
DGFT

Import policy for Tur /Pigeon Peas; Moong and Urad is revised from “Restricted” to “Free” with immediate effect and for the period up to 31st October 2021.

Validity of Registration cum Membership Certificate (RCMC) issued by Export Promotion Councils extended upto 30.09.2021, where such validity expires on or before 31.3.2021.

Import policy of Integrated Circuits (1 Cs) shall be subject to Chip Imports Monitoring System (CHIMS) with effect from 01.08.2021.

INSURANCE LAWS
The IRDAI has issued norms for settling COVID-19 health insurance claims vide Circular dated 29.04.2021 within a turnaround time (TAT) of one hour for granting both cashless pre-authorization and final discharge of the insured patient.
LABOUR LAWS
The Central Government has published the draft Rules – Industrial Relations (Central) Recognition of Negotiating Union or Negotiating Council and Adjudication of Disputes of Trade Unions Rules, 2021. Objections have been invited.