MM TAX CLUB

The CBIC issued Notification No. 10/2024-Customs dated February 19, 2024, amending Notification No. 50/2017-Customs dated June 30, 2017, to revise effective rates of customs duty for certain goods and inserting some new entries, citing public interest and exercising powers under Customs Act, 1962 and Customs Tariff Act, 1975 effective from February 20, 2024.

In the said notification, in the Table, –

(1) after S. No. 3 and the entries relating thereto, the following S. No. and entries shall be inserted, namely: –

(2) after S. No. 32A and the entries relating thereto, the following S. Nos. and entries shall be inserted, namely: – 

(3) after S. No. 90 and the entries relating thereto, the following S. Nos. and entries shall be inserted, namely: – 

(4) against S. No. 100, in column (2), for the entry, the entry “2202 99” shall be substituted;

(5) after S. No. 304A and the entries relating thereto, the following S. No. and entries shall be inserted, namely: –

File No. 04/130/2021-eGov-MCA General Circular No. 02/2024

Stakeholders are informed that Change Request Form (CRF) has been made available on V3 portal for the convenience of users of MCA-21 services.

This web- based Form is to be used only under exceptional circumstances, for making a request to Registrar of Companies (RoCs), for the purposes which cannot be catered through any existing form or services or functionality available either at Front Office level (users of MCA-21 services) or Back Office level (RoCs). It is not a substitute to any reporting, application and registry requirements as per Companies Act, 2013, and LLP Act, 2008, and for such purposes the Form shall not be entertained and requests through this form are liable to be summarily rejected. This Form should also not be used as a substitute for any approval related and registration related queries for which existing tickets and help desk facilities must be used.

2. This Form primarily is intended to be used for purposes like Master Data correction and to comply with certain directions of Courts/Tribunals, which ordinarily cannot be complied with through existing functionality of forms or services on MCA-21 system.

3. The Form should be processed by RoCs within 03 days of its filing, after which it should be forwarded to Joint Director (e-governance cell), who shall process and decide the matter within a maximum time of 07 days.

4. This issues with the approval of the Competent Authority.

As per recent update from GSTN, The IndusInd Bank is now integrated with the GST portal for payment of tax.

Overview

Goods and Services Tax (GST) was implemented in India with effect from 1st Jul 2017. It is a single tax on the supply of goods and services, right from the manufacturer to the consumer.

GST subsumed several taxes and levies, which include Central Excise Duty, Additional Excise Duty, Services Tax, Additional Customs Duty, Surcharges, State-level Value Added Tax/Sales Tax, Octroi and Entry Tax, Purchase Tax, Luxury Tax and Tax on lottery, betting & gambling. Other levies which were applicable on inter-state transportation of goods have also been done away with in GST regime.

IndusInd Bank is authorised by RBI and O/o Controller General of Accounts, Ministry of Finance, Government of India for collection of Indirect Taxes on behalf of Central Board of Indirect Taxes & Customs (CBIC).

Accordingly IndusInd Bank is an authorised bank for collection of Goods & Services Tax (GST) through its integration with the GST portal.

Customers can make tax payments on GST portal simply by selecting Net Banking or Over-the-Counter mode as a payment option while creating challan on the GST website.

The tax payment can be initiated via below Payment modes:

• Internet Banking – Retail Channel (IndusNet)
• Internet Banking – Corporate Channel (IndusDIRECT)
• Branch Channel i.e. Over the Counter – at all IndusInd Bank branches (Cash, Cheque, DD of any Bank) 
• RTGS/NEFT

In exercise of the powers conferred by sub-section (2) of section 1 of the Competition (Amendment) Act, 2023 (9 of 2023), the Central Government hereby appoints the 20th day of February, 2024 as the date on which the provisions of section 33 of the said Act shall come into force.  

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), read with section 124 of the Finance Act, 2021 (13 of 2021), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 11/2021 – Customs, dated the 1st February, 2021, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 69(E), dated the 1st February, 2021, namely:-

In the said notification, in the Table, for serial number 14 and the entries relating thereto, the following S. No. and entries shall be substituted, namely: -

2. This notification shall come into force on the 20th of February, 2024.

 [F. No. CBIC-190354/288/2021-TO(TRU-I)]

Note : The principal notification No. 11/2021-Customs, dated the 1st February, 2021, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 69(E), dated the 1st February, 2021, and last amended vide notification No. 05/2024-Customs, dated the 22nd January, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 55(E), dated the 22nd January, 2024.