Reference: Central Board of Indirect Taxes and Customs
Update:
Anti-Dumping Duty on Flat rolled product of steel, plated or coated with alloy of Aluminium and Zinc:
CBIC has vide notification dated 15th October 2019 has imposed Provisional Anti-Dumping Duty on imports of Flat rolled product of steel, plated or coated with alloy of Aluminium and zinc originating in, or exported from China PR, Vietnam and Korea RP in order to remove injury to the domestic industry.
Implication:
A provisional anti-dumping duty at the rate equal to the amount specified shall be applicable on Flat rolled product of steel, plated or coated with alloy of Aluminium and Zinc. And shall be applicable for period of 6 Months till 15th March 2020 unless revoked
Reference: Reserve Bank of India
Update:
Cancellation of Certificate of Registration of Asset Reconstruction Company:
RBI has vide exercise of powers conferred on it under Section 4(1) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, has cancelled the Certificate of Registration of Meliora Asset Reconstruction Company limited.
Implication:
As such, the above company shall not transact the business of an asset reconstruction company.
Update:
On- Tap Authorization:
RBI has decided to offer on-tap authorisation for the following entities:
i. Bharat Bill Payment Operating Unit (BBPOU).
ii. Trade Receivables Discounting System (TReDS).
iii. White Label ATMs (WLAs).
The KYC requirements for retail payment systems shall be as per the Master Directions on Know Your Customer (KYC) issued by the Department of Banking Regulation (DBR), Reserve Bank of India.
The authorisation would be given based on (a) merits of the proposal, and (b) Reserve Bank’s assessment of potential for additional entities in that segment.
RBI has also specified the capital and other requirements for each of the aforementioned retail payment systems.
Implication:
The payment system operators should ensure interoperability among different retail payment systems
