Tri-Weekly Summarized #Statutory News By Team, Join @HubofCA f | TaxLiner | Summarizing Laws

Tri-Weekly Summarized #Statutory News By Team, Join @HubofCA for Regular Updates:

• The Central Board of Direct Taxes (CBDT) has notified Nodal officers of the State Police Agencies of Assam, Chhattisgarh, Punjab, Uttar Pradesh, West Bengal amp; Delhi Police as an Authority under section 138(1)(a)(ii) in connection with sharing of information through National Intelligence Grid (NATGRID) platform.

• To further facilitate ‘relocation’ foreign funds to International Financial Services Centre , the SEBI has decided that a FPI may approach its DDP for approval of a one-time ‘off-market’ transfer of its securities to the ‘resultant fund’.

• Based on the representation received from AMFI, the SEBI has decided to extend the implementation date of the provisions of disclosure related to mutual fund to September 1, 2021.

• The Government has notified that IGST would not be levied on imported goods which are meant for free distribution for COVID relief by the Central Government, State Government, or a relief agency as recommended by the nodal authority.

• The Government has exempted custom duty on import of Black Fungus Medicine "Amphotericin B" till 31.08.21. Earlier the exemption was granted to oxygen equipments and several Covid-19 medicines till 31.07.21 and that exemption is also extended till 31.08.21.