⚫The Union Cabinet cleared a Constitution amendment bill which seeks to give power to states and UTs to make their own OBC lists.
⚫Services sector continued to contract for the third month in a row in July due to restrictions imposed by State Govts to arrest the spread of the Covid-19 pandemic, showed a widely tracked IHS Market PMI survey.
⚫ED slaps Rs 10600 crore notice on Flipkart for forex violations. The probe reflects discrepancies in Flipkart's structuring operations.
⚫The construction of Ram temple in Ayodhya is progressing according to the plan, and devotees are expected to be allowed to pay obeisance to the deity by 2023 end.
⚫Kumar Mangalam Birla steps down from Vodafone Idea board after stake offer.
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CBIC launches Compliance Information Portal (CIP)
👉CIP provides free access to information on all Customs procedures and regulatory compliance for nearly 12,000 Customs Tariff Items
👉The Central Board for Indirect Taxes & Customs (CBIC) here today launched the Indian Customs Compliance Information Portal (CIP) at www.cip.icegate.gov.in/CIP for providing free access to information on all Customs procedures and regulatory compliance for nearly 12,000 Customs Tariff Items.
👉CIP is yet another facilitation tool developed by CBIC to empower our business as well as any interested person with up-to-date information on the legal and procedural requirements of Customs and Partner Government Agencies (FSSAI, AQIS, PQIS, Drug Controller etc.) for carrying out imports and exports. The portal would provide at the click of a button complete knowledge of all import and export related requirements for all items covered under the Customs Tariff thereby improving the ease of doing cross border trade.
👉For using CIP, one can simply enter either the Customs Tariff Heading (CTH) or the description of the goods in question to get information to step-by-step procedures, regulatory compliances requirements like License, Certificates, etc., for imports as well as exports. This includes import and export through posts and courier, import of samples, reimport and reexport of goods, self-sealing facility for exporters and project imports.
👉Another important feature of CIP is a pan India map showing all the Customs seaports, airports, land customs stations etc. It also contains addresses of the regulatory agencies and their websites.
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⚫The Govt is working towards the launch of a digital platform 'Maadhyam' a National Single Window System to allow investors to identify and apply for various pre-operation clearances required for starting business in the country.
⚫PM will launch a national effort to achieve the target of $400 billion worth merchandise exports in the current fiscal. India has met nearly a third of its annual target in the first four months of 2021-22.
⚫FM tabled Taxation Laws Amendment Bill in Lok Sabha, which seeks to withdraw the contentious retrospective tax more than nine years after it came into force. The move will come as a relief to Cairn Energy and Vodafone, and is likely to end their long-standing legal dispute with the Centre.
⚫The NHAI has incurred an estimated revenue loss of Rs 3,512.62 crore in FY 2020-21, due to COVID-19-related restrictions.
⚫Telecom firms BSNL and MTNL have narrowed their losses and reduced liabilities in 2020-21.
⚫The USA hit a six month high for new Covid cases with over 100,000 infections reported as the Delta variant ravages areas where people did not get vaccinated.
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👉Companies (Registration of Foreign Companies) Amendment Rules, 2021
https://www.mca.gov.in/bin/dms/getdocument?mds=VTFDnv980u1CmFs0dp1C%252Fg%253D%253D&type=open
👉Notification under section 393A of the Companies Act, 2013
https://www.mca.gov.in/bin/dms/getdocument?mds=nk7Cyx3NcC3Y3S5lcnYUBg%253D%253D&type=open
👉Guidelines for Implementation of the circular on Opening of Current Accounts by Banks
https://rbi.org.in/Scripts/NotificationUser.aspx?Id=12137&Mode=0
👉10 Weeks Online Management Development Programme: Leadership Beyond Boundaries (Batch 3) Steered By Eminent CAs/National/International Faculties from 04 September to 10 November 2021 at CoE, Hyderabad - (05-08-2021)
https://www.icai.org/post/10weeks-online-mdp-batch3
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