Reference: Central Board of Indirect Taxes & Customs
Update:
Anti-dumping extended on import of Acetone
The Central Government has extended anti-dumping duty imposed on imports of ‘Acetone’ originating in or exported from Korea RP. up to and inclusive of the 15th April, 2020, unless revoked, superseded or amended earlier.
Implication:
Importers of Acetone originating in or exported from Korea RP shall continue to pay anti dumping duty for extended period till 15.04.2020
Reference : Reserve Bank of India
Update:
Incentivising Bank Credit to Specific Sectors – Exemption from CRR Maintenance
RBI advices the banks that they can claim the first deduction from the NDTL of February 14, 2020 for the amount equivalent to the incremental credit extended to the sectors over the outstanding level of credit as at the end of the fortnight ended January 31, 2020.
An amount equivalent to the incremental credit outstanding from the fortnight beginning January 31, 2020 and up to the fortnight ending July 31, 2020 will be eligible for deduction from NDTL for the purpose of computing the CRR for a period of five years from the date of origination of the loan or the tenure of the loan, whichever is earlier.
Implication:
Banks are required to report the exemption availed at the end of a fortnight under exemptions/others in the Section-42 return.
Reference: Securities and Exchange board of India
Update:
Monetary penalty on Tarini International Limited and others (Noticee):
Tarini International Limited and others (Noticee) has disturbed the equilibrium of securities market by not disclosing material information to investors and misappropriating IPO proceed for the purpose other than that mentioned in the prospectus, thus violating the provisions of Section 12A (a), (b) and (c) of the SEBI Act r/w Regulation 3 (a), (b), (c) and (d), Regulation 4(1), 4(2)(f) and 4(k) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Markets) Regulations.
Hence, SEBI has imposed a penalty of Rs. 12,00,00,000/- and on Noticee no. 1 under section 23E of SCRA for violation of provisions of clause 45 and 46 of the SME Listing agreement with respect to section 21 of the SCRA additional penalty of Rs. 5,00,000/-
Implication:
Noticee shall remit / pay the said amount of penalties, as mentioned in the table above, within 45 days of receipt of this order.
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