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News 12 June 2021

What's New...

GST Council Recommends 5% GST on Covid Medicines, Medical Devices

· Exemption Valid only for Four Months upto 30 Sept 2021

104 Manufacturers / Importers of Oxygen Concentrators Submitted Revised MRP for 252 Products/Brands

· On capping of Trade Margin by Government, prices of Oxygen concentrators down upto 54%

· Revised MRP effective from 9th June 2021

DGTR Initiates Sunset Review on Fibre Board (MDF) from Vietnam on Complaint of Greenply, Greenpanel Indus and Rushil Decor

· Ntfn 34/2016-Customs (ADD) to Expire on 13 Jul 2021

SEZs Captive Plants Allowed Solar Energy, Wind Power and Other Non-Conventional

SEZ Plastic Waste, Worn Clothing Units Get another Lease of Life subject to Export Obligations

· Permission to Set up New Units in SEZs/EOUs to be accorded soon, DoC/DGFT to Frame New Rules

China Source Transfer of Technology to be Allowed Freely without Licence

FM Sitharaman Chairs Meeting to Discuss Infrastructure Road Map Ahead

· Finance Minister tells Ministries and their CPSEs to Clear MSME’s dues at the earliest

· CAPEX may be Front Loaded

Indian Mango Promotion Programme begins in Bahrain

G-7 meeting in UK

Biden Meets Europe Leaders in G-7 Meet to take on Russian and China

· Covid Vaccine issue in forefront

· Modi Turns Down Invite to Join Meet

11.06.2021

Commerce Ministry Clarifies that Pulses Import will be Cleared from SEZ only on as per Policy Prevailing on the Date of Clearance into DTA

· Date of Old Bills of Lading where Policy was Restricted will not Apply, Transition Arrangements under Para 1.05 only where from Free to Restricted Cases

Tempered Glass from China – Sunset Review Initiated on Borosil Renewable Complaint

· Ntfn 38/2017-Customs (ADD) to Expire on 17 Aug 2022

GoM Suggests Cut in GST on Covid Relief Material to 5 per cent

· GST Fitment Committee took Conservative view of Limited period Cut

GST Mop-up Dips in May, but 65% Higher on-year

IREDA Invites Bids for Rs. 4500 crore Solar PLI Scheme

· Big Boost to Domestic Production of Solar PV Modules

· Last Date for Application 30th June

National Programme on Advanced Chemistry Cell (ACC) Battery Storage under PLI Scheme

MSMEs Threshold for Aggregate Exposure Limit Enhanced from ₹25 crore to ₹50 crore

World Bank Approves $500 Million Program to Strengthen Performance of MSMEs in India

WTO Debates Text-Based Discussions for an Urgent IP Response to COVID-19

· 60 Delegation Proposal and EU Response Papers Attached

Revised Guidelines for Centers of Excellence in MSDE

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