2021-06-23 11:30:04
Tri-Weekly Summarized #Statutory News By Team, Join @HubofCA for Regular Updates:
• A meeting was held between senior officials of the Finance Ministry and Infosys on 22.06.2021 on issues in the new Income Tax Portal. The Finance Minister, Smt. Sitharaman asked Infosys to address all issues without further loss of time, improve their services, redress grievances on priority as it was impacting taxpayers adversely
• CBIC issued clarification on applicability of Central Excise exemption on Ethanol/ Methanol blended Petrol, and High-speed diesel blended with bio-diesel, when blending is done within the refinery
• To ease the compliance burden on tax deductor and tax collector in complying with provisions of section 206AB and 206CCA, the CBDT has introduced a new functionality "Compliance Check for Sections 206AB amp; 206CCA". This functionality is made available through reporting portal of the Income-tax Department to check whether deductee or collectee is a specified person for sections 206AB amp; 206CCA
• CBIC has advised all Custom Officers to mandatorily make use of the CRCL module to forward Test Memos for testing of samples to CRCL and other Revenue Laboratories from 01.07.2021 onwards. DG Systems has enabled a ‘CRCL module’ in ICES with the objective of automating all paperwork related to sampling, forwarding of test memos to CRCL and other Revenue Laboratories, and electronic receipt of test reports, instantly by the Customs Officers.
• The Govt. has notified the Special Economic Zones (Amendment) Rules, 2021 wherein new rule 21A for Setting up of Unit by Multilateral or Unilateral or International agencies in International Financial Services Centre has been inserted. The Multilateral agency or Unilateral agency or International agency notified under the United Nations (Privileges and Immunities) Act, 1947 shall be allowed to set up their local or regional office in the IFSC as an Unit.
90 views08:30
T
