Newsletter – July, 2020 II Week

INCOME TAX

Click here for revised TDS rates
Click here for details of ITR Forms

CUSTOMS

Requirement of AGMARK certification prior to import of Blended Edible Vegetable Oils (BEVO) now made compulsory.

AQCS clearance would be granted by the Department of Animal Husbandry and Dairying for milk products (under chapter 35 and 17) which have date of lading on or before 30.04.2020. This is subject to fulfilment of sanitary and hygienic certification.

Turant Suvidha Kendra and Other Initiatives for Contactless Customs launched. ICEGATE login now allows the exporters to make an online request for registration/modification of their AD Code/Bank Account(s) and also electronically submit the Passbook copy or Bank Authorisation letter. The exporters would now have access to a Dashboard to view the status of approval and acceptance at PFMS. Further, most document verifications have now been made virtual.

Importers / Exporters are requested to avail the simplified registration procedure on ICEGATE and register themselves. Please click here to see the instruction manual.

Anti-Dumping Duty on import of Phenol originating in or exported from South Africa extended till 09.01.2021.

Anti-dumping duty already imposed on import of ‘Steel and Fibre Glass Measuring tapes and their parts and components’, originating in, or exported from, China extended for a further period of five years.

DGFT

Amendments/ changes made in the MEIS – (Merchandise Exports from India Scheme) Schedule. New entries added, some entries deleted, and new descriptions added for existing entires. Click here to view the changes.

Cut flowers under HS code 0603 continue to remain “Free imports” subject to the condition that such imports are through Chennai airport only.

COMPANY LAWS

Time limit for filing of Form NFRA-2 (statutory return to be filed by auditors of a company covered under Rule 3 of the NFRA Rules 2018), for the reporting period FY 2018-19, will be 270 days from the date of deployment of the form on the website of National Financial Reporting Authority (NFRA).

open

In view of the full lockdown announced by the TN Govt from 10th may 2021 to 24th june 2021, we, at TITA, will be working from home. For any queries, clarification, filing of replies, applications, appeals and other compliances including GST Returns, please mail to us at tita@tita.net.in and we will do the necessary.