Guidelines issued for compulsory selection of returns for ‘Complete Scrutiny’ during Financial Year 2020-21 and conduct of assessment proceedings in such cases.
Lok Sabha reply – Various measures taken to reform the Direct Tax regime such as rationalisation of tax rates, simplification of income tax return forms, faster processing of refunds, speedy resolution of grievances and introduction of faceless processes to ease the compliance burden on taxpayers and minimise the physical interface between the taxpayer and the income tax authorities.
Lok Sabha reply – Various measures taken to promote growth, investment and create new employment opportunities through amendments in the Income Tax Act 1961.
New forms introduced for Bills of Entry with effect from 21.09.2020.
Basic Customs Duty on Lentils (Mosur) reduced by 20% for the period from 18.09.2020 to 31.10.2020.
Launch of e-Office in Air Cargo Complex (Import) Commissionerate, New Delhi
Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (CAROTAR, 2020) comes into effect from 21.09.2020.
A new policy condition is added in Chapter 85 and 94 of TC (HS), 2017, Schedule – I (Import Policy) to enable random sampling of LED products and their Control Gear notified under “Electronics and Information Technology Goods (Requirement of Compulsory Registration) Order, 2012”
Onions – Prohibited exports.
- Global Tender Enquiry (GTE) restricted for the contract/ supply value of above Rs.200 crore.
- Public Procurement (Preference to Make in India) Order, 2017 revised to promote participation of local suppliers.
AGRICULTURE AND FARMERS’ WELFARE
- The Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020;
- The Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Bill, 2020.