Income-tax (21st Amendment) Rules, 2022
The amendment provides that an original fund transferring a capital asset to a a Category III Alternative Investment Fund, shall fulfil the condition that the aggregate participation or investment in the original fund, directly or indirectly, by persons resident in India shall not exceed five per cent. of the corpus of such fund at the time of such
transfer.
DCI four day training program for tobacco cessation clinics
Dental facilities qualified to run tobacco cessation clinics shall appoint a nominee faculty to attend the four day training program.
PCI warns pharmaceutical institutions against filing inaccurate information or fabricated documents
It is clarified that the Pharmacy Council of India has the legal right to file criminal complaint against principal/ chairman secretary/ of trust/company/society running all pharmaceutical institutions
The Plastic Waste Management (Second Amendment) Rules, 2022.
As a transitory measure, provisional certificate for biodegradable plastics, shall be issued by the Central Pollution Control Board, in cases, where an interim test report is submitted, for an ongoing test, which covers the first component of the IS 17899 T:2022 relating to biodegradability.
PCI opens portal to process applications for new institutions.
The pre-requisite statutory documents, incldues consent of affiliation of examining authority, No Objection Certificate of the State Government, etc., shall clearly indicate that it is for the 2022-23 academic session. The submission of these pre-requisite statutory documents is a mandatory requirement.
DGFT revises the registration time period of Steel Import Monitoring System (SIMS).
As per the revised policy, the importer can apply for registration not earlier than 60th day before the expected date of arrival of import consignment.
DGFT amends export policy of wheat flour.
Export Policy of wheat flour (atta) remains ‘Free’, but export shall be subject to recommendation of Inter Ministerial Committee (IMC) on export of wheat.
Centre directs leading Edible Oil Associations to reduce prices by Rs. 15 with immediate effect.
The reduction in oil prices came in the wake of Central Government reducing the import duty on edible oils making them cheaper. The industry was advised to ensure that the complete benefit of the reduced duty is passed on to the consumers invariably.
Special Economic Zones (Second Amendment) Rules, 2022
The amendment provides that any Unit authorized to store bullion as the underlying asset for the purpose of issuance of a bullion spot delivery contract or bullion depository receipt with underlying bullion that is traded in a bullion exchange shall be deemed to be in an International Financial Services Centre.
Joint Electricity Regulatory Commission for Union Territories Jammu &Kashmir and Ladakh (Renewable Purchase Obligation, its Compliance and REC framework Implementation) Regulations, 2022
The regulations directs that each distribution licensee shall indicate along with sufficient proof thereof, the estimated quantum of purchase from renewable sources for the ensuing year in Tariff /Annual Revenue Requirement (ARR) petition in accordance with the regulations notified by the Commission.
