MM TAX CLUB

Hundreds of weavers turned up at the state-level handloom meet held at Kandukuri kalyana mandapam in Vijayawada on Thursday and demanded the immediate withdrawal of GST on handloom products. Asking the state and central government to immediately intervene and bail out the crisis-hit sector, they said the handloom sector might witness suicides if the governments did not respond to address their grievances.

Addressing the meeting, Rashtra Chenetha Jana Samakhya (RCJS) state convenor Macherla Mohan Rao said millions of handloom workers are struggling due to lack of support from the governments. “Handloom artisans could not even avail of Mudra loans due to the failure of the government in giving them identity cards,” he said, while alleging that the state government is deliberately avoiding the issuance of ID cards to reduce the beneficiaries under Nethanna Hastham scheme.

The government should realise that it would be impossible for handloom weavers to survive with financial assistance of 24,000 extended through Nethanna Hastham scheme, said Rao.

Circular No. 06/2023-Customs Dated 01 March, 2023

Attention is drawn to the Postal Export (Electronic Declaration and Processing) Regulations, 2022 issued under Notification no. 104/2022-Customs (N.T.) dated 09.12.2022; and the Guidelines for their implementation in Circular no. 25/2022-Customs dated 09.12.2022.

In terms of Regulation 6(1), the Department of Post O.M. dated 09.02.2023 (copy enclosed) has authorized 122 Booking Post Offices to accept consignments for export. The list of Booking Post Offices and the corresponding Foreign Post Offices is also enclosed.

Further, it is informed that the URL address provided for Customs Officer accessing the login page of ‘Dak Ghar Niryat Kendra – Customs Portal’, which is mentioned in para 4(i) of the said Circular no. 25/2022-Customs has been revised as followshttps://dnk.cept.gov.in/customs.web

The above is for your information, necessary action and implementation. Difficulty, if any, in implementation may kindly be brought to notice of the Board.

Central Board of Indirect Taxes and Customs (CBIC) vide Notification No. 01/2023 - Service Tax dated March 2, 2023 made amendments in Notification No. 22/2014- Service Tax dated September 16, 2014 to empowered Additional Assistant Directors to exercise the power of Superintendent under Service Tax.

The extract of notification can be read as under;

—In exercise of the powers conferred by clause (b) of section 2 of the Central Excise

Act, 1944 (1 of 1944) read with clause (55) of section 65B of the Finance Act, 1994 (32 of 1994), rule 3 of the Central Excise Rules, 2017, rule 3 of the Service Tax Rules, 1994 read with clause (e ) and (f) of sub-section (2) of section 174 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Board of Indirect Taxes and Customs hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance, Department of Revenue, notification no. 22/2014- SERVICE TAX dated 16^th September, 2014, namely:-

In the said notification, in the Table after Sl. No. 8 and the entries relating thereto, the following Sl. No. and entries shall be inserted, namely:

This notification shall come into force on the date of publication in the Official Gazette.

CENTRAL BOARD OF DIRECT TAXES

NOTIFICATION

New Delhi, the 1st March, 2023

—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961(43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Insolvency and Bankruptcy Board of India’, New Delhi (PAN AAAGI0193K), a Board established by the Central Government, in respect of the following specified income arising to that Board, namely:

(a) Grants-in-aid received from Central Government;

(b) Fees received under the Insolvency and Bankruptcy Code, 2016 (31 of 2016);

(c) Fines collected under the Insolvency and Bankruptcy Code, 2016 (31 of 2016); and

(d) Interest income accrued on (a), (b) and (c) above.

2. This notification shall be effective subject to the conditions that Insolvency and Bankruptcy Board of India, New Delhi:-

(a) shall not engage in any commercial activity;

(b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and

(c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.

This notification shall be applicable with respect to the financial years 2022-2023, 2023-2024, 2024-2025, 2025-2026 and 2026-2027.