The PULSE

Updates from the MCA

1. COMPANIES (SHARE CAPITAL AND DEBENTURES) AMENDMENT RULES, 2022:

The Ministry of Corporate Affairs released a notification dated 04^th May, 2022 with respect to Transfer of Shares.

MCA amends the Companies (Share Capital and Debentures) Rules, 2014 to include a declaration in Form SH-4 (Form for Transfer of Shares) with regard to whether the transferee is required to get the Government’s approval under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 prior to the transfer of shares or not.

In case approval is not required, the transfer will take place in the normal course, whereas where approval is required, it is mandatory to enclose the approval letter along with Form SH-4 (Form for Transfer of Shares).

In Form SH-4, before the enclosures, the following declaration shall be inserted, namely:

“Transferee is not required to obtain the Government approval under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 prior to the transfer of shares; or 

The transferee is required to obtain the Government approval under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 prior to the transfer of shares and the same has been obtained and is enclosed herewith”

Click here to access the notification

2. GENERAL CIRCULAR ON CLARIFICATION OF HOLDING ANNUAL GENERAL MEETING (AGM) AND EXTRAORDINARY GENERAL MEETING (EGM) THROUGH VIDEO CONFERENCE (VC) OR OTHER AUDIO-VISUAL MEANS(OAVM):

The Ministry of Corporate Affairs released a Circular dated 05^th May, 2022 with respect to holding Annual General Meeting and Extra-Ordinary General Meeting through Video Conference (VC) or Other Audio-Visual means (OAVM).

It states that MCA shall allow Companies to conduct their AGM (which are due in the year 2022) and EGMs through Video Conference (VC) or Other Audio-Visual Means (OAVM) or transact items through postal ballot on or before 31st December, 2022.

It is also clarified that the Circular on holding AGM through Video conference (VC) or Other Audio-Visual Means (OAVM) does not provide any extension of time for holding of AGMs by the Companies under the Companies Act, 2013. 

Click here to access the circular for holding AGM through VC

Click here to access the Circular for holding EGM through VC

3. THE COMPANIES (PROSPECTUS AND ALLOTMENT OF SECURITIES) AMENDMENT RULES, 2022:

The Ministry of Corporate Affairs released a notification dated 05^th May, 2022 with respect to Offer or Invitation of any Securities on Private Placement.

1. MCA amends the Companies (Prospectus and Allotment of Securities) Rules, 2014 pertaining to insertion of the proviso in Rule 14 (Private Placement) with regards to not giving an offer/ invitation of any securities under Rule 14 to a Body Corporate incorporated in, or a national of, a country which shares a land border with India, unless such Body Corporate or the national, as the case may be, have obtained Government approval under Foreign Exchange Management (Non-debt Instruments) Rules, 2019. Further such approval is required to be attached with a private placement offer cum application letter (Form PAS-4).
2. Subsequently, in the format of ‘Private Placement Offer Cum Application Letter’ i.e. Form PAS-4, Part- B has been revised to include a declaration from the applicant and the checkbox(s) have to be marked accordingly whichever applicable:

1. No Govt. approval is required under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 prior to the subscription of shares or
2. Where the applicant is required to obtain the Govt. approval under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 prior to the subscription of shares, the same has been obtained and enclosed herewith the form.”

Click here to access the notification

4. THE COMPANIES (INCORPORATION) SECOND AMENDMENT RULES, 2022:

The Ministry of Corporate Affairs released a notification dated 20^th May, 2022 with respect to Incorporation.

MCA amends Companies (Incorporation) Rules, 2014 pertaining to modification in the Formats of Form INC-9 and Form INC-32(SPICe+) Part-B.

1. The format of Form INC-9 has been revised to include 2 additional points against the checkbox(s) in the declaration part as stated below:

“I am required to obtain the Government approval under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 prior to subscription of shares and the same has been obtained, and is enclosed herewith. Or

I am not required to obtain the Government approval under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 prior to subscription of shares”

      ii. In Form INC-32(SPICe+) Part-B, in Declaration the following has been inserted:

“I, on behalf of the proposed directors, hereby declare that person seeking appointment is a national of a country which shares a land border with India, necessary security clearance from Ministry of Home Affairs, Government of India shall be attached with the consent. ( ) Yes ( ) No (If yes is opted, a copy of security clearance is to be attached)”

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5. GENERAL CIRCULAR ON RELAXATION IN PAYING ADDITIONAL FEES IN CASE OF DELAY IN FILING FORM 11 (ANNUAL RETURN) BY LIMITED LIABILITY PARTNERSHIP UP TO 30TH JUNE, 2022: 

The Ministry of Corporate Affairs released a Circular dated 27^th May, 2022 with respect to relaxation in paying additional fees in case of delay in filing Form-11 (Annual Return) by Limited Liability Partnership up to 30^th June, 2022.

The Circular states that in view of the transition from version 2 of MCA-21 to version 3 and to promote the compliance on part of LLPs, it is decided to allow LLPs to file Form-11(Annual return) for the Financial year 2021-2022 without paying any additional fees up to 30^th June, 2022.

Click here to access the circular

6. GENERAL CIRCULAR ON MICRO-FINANCE/ MICRO CREDIT AS AN OBJECT IN THE OBJECT CLAUSE OF MEMORANDUM OF ASSOCIATION (MOA) OF SECTION 8 COMPANIES REGISTERED UNDER THE COMPANIES ACT, 2013:

The Ministry of Corporate Affairs released a Circular dated 30^th May, 2022 with respect to Micro-Finance/ Micro Credit as an object in the Object Clause of Memorandum of Association (MOA) of section 8 Companies registered under the Companies Act, 2013.

The Circular states that various section 8 Companies are altering their object clause for carrying out microfinance activities by way of passing Special Resolution, changing Activity code and subsequently filing e-form MGT-14 with concerned ROCs, even though the ROCs do not allow Section 8 Companies to incorporate with the object of Micro finance activities.

It is clarified that immediate action shall be taken by ROCs to avoid section 8 Companies from carrying Micro-Finance Activities.

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7. THE COMPANIES (COMPROMISES, ARRANGEMENTS AND AMALGAMATIONS) AMENDMENT RULES, 2022:

The Ministry of Corporate Affairs released a notification dated 30^th May, 2022 with respect to provisions on Compromises, Arrangements and Amalgamations.

MCA amends Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 pertaining to insertion of sub-rule in Rule 25A stating that “in case of Compromise, Arrangement, Merger or Demerger between an Indian Company and a Company or a Body corporate which has been incorporated in the country which shares a land border with India, then a declaration in Form No. CAA-16 shall be required to be submitted along with the application under section 230 of the Act.”

Click here to access the notification

8. THE COMPANIES (ACCOUNTS) THIRD AMENDMENT RULES, 2022 ON FORM CSR-2:

The Ministry of Corporate Affairs released a notification dated 31^st May, 2022 with respect to filing of a report on Corporate Social Responsibility in Form CSR-2.

MCA amends Companies (Accounts) Rules, 2014 to substitute the due date to file Form CSR-2 pertaining to the Financial Year 2020-2021 from 31^st May, 2022 with 30^th June 2022 in Rule 12, Sub-rule (1B).

After which the proviso is inserted stating that for Financial Year 2021-2022, Form CSR-2 shall be filed separately on or before 31^st March, 2023 after filing Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (IND AS), as the case may be. 

Click here to access the notification

9. GENERAL CIRCULAR ON RELAXATION IN PAYING ADDITIONAL FEES IN CASE OF DELAY IN FILING ALL THE EVENT BASED e-FORMS BY LLPs WHICH ARE DUE ON AND AFTER 25TH FEBRUARY, 2022 to 31ST MAY, 2022 UPTO 30TH JUNE, 2022:

The Ministry of Corporate Affairs released a Circular dated 31^st May, 2022 with respect to relaxation in paying additional fees in case of delay in filing all the event-based e-forms by LLPs which are due on and after 25^th February, 2022 to 31^st May, 2022 up to 30^th June, 2022.

The Circular states that in view of the transition from version 2 of MCA-21 to version 3 and to promote the compliance on part of LLPs, it is decided to allow LLPs to file various event-based LLP e-Forms for which due dates fall between 25^th February, 2022 to 31^st May, 2022 without paying any additional fees up to 30^th June, 2022.

Click here to access the circular

Updates from the SEBI

1. Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

SEBI vide its circular dated May 13, 2022 provided relaxations from compliances with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 which are stated below:

1. MCA vide Circular dated May 05, 2022 has extended the relaxations from dispatching of physical copies of financial statements for the year 2022 till December 31, 2022. Based on the representation received from the Listed Company, it has been decided to provide relaxation up to December 31, 2022, under Regulation 36 (1) (b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015(“LODR Regulations”) which requires sending hard copy of the annual report to the shareholders who have not registered their email addresses. Further, the notice of the Annual General Meeting published by advertisement in terms of Regulation 47 of LODR Regulations, shall contain a link to the annual report, so as to enable shareholders to have access to the full annual report. However, emphasis is made to send a hard copy of the full annual report to those shareholders who request for the same.
2. Regulation 44 (4) of the LODR which provides the requirement of sending proxy forms is dispensed with up to December31, 2022, in case of general meetings held through electronic mode only.

The detailed circular can be accessed by clicking the link mentioned below:

Click here to access the Circular

2. Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

SEBI vide it’s circular dated May 13, 2022 provided relaxations from compliances with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for an entity with listed non-convertible securities. MCA vide Circular dated May 05, 2022 has extended the relaxations from dispatching physical copies of financial statements for the year 2022 to the debenture holders till December 31, 2022. In furtherance of this it has been decided to provide relaxation up to December 31, 2022, under Regulation 58 (1)(b) of the Listing Regulations which requires sending a hard copy of the annual report to those holders of non-convertible securities who have not registered their email addresses either with the listed entity or with any depository.

The detailed circular can be accessed by clicking the link mentioned below:

Click here to access the Circular

3. Simplification of procedure and standardization of formats of documents for transmission of securities.

To enhance ease of dealing in securities markets and with a view to making the transmission process more efficient and investor-friendly, the procedure for transmission of securities has been further simplified vide the Securities and Exchange    Board of India (Listing Obligations and Disclosure Requirements) (Fourth Amendment) Regulations, 2022 (“LODR Amendment Regulations”)

LODR Amendment Regulations have inter alia enhanced the monetary limits for simplified documentation for transmission of securities, allowed ‘Legal Heirship Certificate or equivalent certificate’ as one of the acceptable documents for transmission and provided clarification regarding the acceptability of Will as one of the valid documents for transmission of securities.

Pursuant to the notification of the LODR Amendment Regulations, MCA Vide its circular dated May 18, 2022 is being issued to specify the formats of various documents which are required to be furnished for the processing of transmission of securities. For ease of reference, Formats are provided as an Annexure to the circular which shall be strictly adhered to for all transmission matters including the requirement of the Will.

The detailed circular can be accessed by clicking the link mentioned below:

Click here to access the Circular

4. Streamlining the Process of Rights Issue.

SEBI vide Circular No. SEBI/HO/CFD/DIL2/CIR/P/2020/13 dated January 22, 2020, had stipulated procedures streamlining the Rights Issue process.

The previous circular dealt with the requirement regarding the minimum time period between the closure of trading in Right Entitlements on the stock exchange platform and closure of the rights issue, which requires trading in REs on the secondary market platform of stock exchanges to commence along with the opening of the rights issue and has to be closed at least four days prior to the closure of the rights issue.

SEBI received market representation for the above procedure enumerated in the circular and in furtherance of which SEBI vide its circular dated May 19, 2022 to amend as under:

The words ‘at least four days’ are replaced with ‘at least three working days’.

 This circular shall be applicable for all rights issues and fast-track rights issue.

Click here to access the Circular

5. Simplification of procedure and standardization of formats of documents for issuance of duplicate securities certificates.

SEBI vide its circular dated May 25, 2022 simplified the procedure and documentation for issuance of duplicate securities Based on feedback from investors, and recent regulatory changes, and with a view to making it more efficient and investor-friendly.

The circular provided the procedure, operational guidelines and documents required to be submitted by the security holder while requesting for issuance of duplicate securities as an annexure to the circular, which are to be adhered to by the RTA’s/Listed Entities for all service requests related to the issuance of duplicate securities.

The provisions of this Circular shall come into force with immediate effect in supersession of RTI Circular No. 1 (2000-2001) dated May 9, 2001.

The detailed circular can be accessed by clicking the link mentioned below:

Click here to access the Circular

6. Standard Operating Procedures (SOP) for dispute resolution under the Stock Exchange arbitration mechanism for disputes between a Listed Company and/or Registrars to an Issue and Share Transfer Agents (RTAs)and it's Shareholder(s)/Investor(s).

Regulation 40 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and bye-laws, listing agreements & regulations of the stock exchanges provide for dispute resolution under the stock exchange arbitration mechanism for disputes between a listed company and its shareholder(s)/ investor(s).

SEBI vide circular dated April 08, 2022 advised Exchanges to put in place a Standard Operating Procedure (SOP) for operationalizing the resolution of all disputes.

SEBI vide this circular dated May 30, 2022 provided a partial modification to the above circular, and after consultation with the stock exchanges/ Registrar and Share Transfer Agents (RTAs), the SOP is to be followed which is applicable to Listed Companies/RTAs offering services on behalf of listed companies. In case of claims or disputes arising between the shareholder(s)/ investor(s) of listed companies and the RTAs, the RTAs shall be subjected to the stock exchange arbitration mechanism.

Detailed modifications and amendments are provided in the circular which shall come into force with effect from June 01, 2022.

The detailed circular can be accessed by clicking the link mentioned below:

Click here to access the Circular

Updates from the RBI

1. RBI notifies change in Repo Rates, Bank Rates & Cash Reserve Ratio:

To contain the inflation in the market, the Reserve Bank of India (RBI) on May 04, 2022 has issued various notifications and given effect to the following changes:

• Repo rate under the Liquidity Adjustment Facility (LAF) is increased by 40 basis points i.e. from 4% to 4.40 %
• Bank Rate is increased by 40 basis points i.e. from 4.25% to 4.65%
• Cash Reserve Ratio (CRR) is increased by 50 basis points i.e. from 4% to 4.50%

(i) Click here for the circular on change in Repo Rate

(ii) Click here for the circular on change in Bank Rate

(iii) Click here for the circular on change in CRR

Click here to access the Circular

2. RBI notifies lending by Commercial Banks to NBFCs and Small Finance Banks (SFBs) to NBFC-MFIs for the purpose of on-lending to priority sectors:

The Reserve Bank of India (RBI) on May 13, 2022 has issued a notification on lending by Commercial Banks to NBFCs and Small Finance Banks (SFBs) to NBFC-MFIs for the purpose of on-lending to priority sectors which was earlier permitted up to March 31, 2022, Now RBI has decided to allow the said facility on an on-going basis to ensure the continuation of the synergies that have been developed between banks and NBFCs in delivering credit to the specified priority sectors.

• Bank credit to NBFCs (including HFCs) for on-lending will be allowed up to an overall limit of 5 per cent of an individual bank’s total priority sector lending in the case of commercial banks.
• In the case of SFBs, credit to NBFC-MFIs and other MFIs (Societies, Trusts, etc.) which are members of RBI recognized ‘Self-Regulatory Organisation’ of the sector, will be allowed up to an overall limit of 10 per cent of an individual bank’s total priority sector lending. These limits shall be computed by averaging across four quarters of the financial year, to determine adherence to the prescribed cap.

SFBs are allowed to lend to registered NBFC-MFIs and other MFIs which have a ‘gross loan portfolio’ (GLP) of up to ₹500 crores as of March 31 of the previous financial year, for the purpose of on-lending to the priority sector. In case the GLP of the NBFC-MFIs/other MFIs exceeds the stipulated limit at a later date, all priority sector loans created prior to exceeding the GLP limit will continue to be classified by the SFBs as PSL till repayment/maturity, whichever is earlier.

Click here to access the Circular

3. RBI clarifies on New Definition of Micro, Small and Medium Enterprises:

The Reserve Bank of India (RBI) on May 19, 2022 has issued a notification to provide clarification on the New Definition of Micro, Small and Medium Enterprises.

RBI clarified that:

• the existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAM) of the MSMEs obtained till June 30, 2020 shall remain valid till June 30, 2022 for classification as MSMEs; and
• the validity of the following documents obtained in terms of O.M. No.12(4)/ 2017-SME dated March 8, 2017 for classification of MSMEs up to June 30, 2020, has been extended up to June 30, 2022:

1. A copy of the invoice of the purchase of plant and machinery; or
2. Gross block for investment in plant and machinery as shown in the audited accounts; or
3. A certificate issued by a Chartered Accountant regarding the purchase price of plant and machinery.

Click here to access the Circular

4. Interoperable Card-less Cash Withdrawal (ICCW) at ATMs

The Reserve Bank of India (RBI) on May 19, 2022 has issued a notification on the introduction of Card-less Cash Withdrawal (ICCW) at ATMs. The banks and the ATM networks are encouraged to integrate Unified Payments Interface (UPI) facilities in the ATM. The on-us / off-us ICCW transactions shall be processed without levy of any charges other than those prescribed under the circular on Interchange Fee and Customer Charges. Further, withdrawal limits for ICCW transactions shall be in-line with the limits for regular on-us / off-us ATM withdrawals.

Click here to access the Circular

5. Housing Finance – Loans for repairs/additions/alterations - Enhancement of limits

Vide, the notification issued dated May 24, 2022, the ceiling on the loans to individuals payable by all Primary (Urban) Co-operative Banks for carrying out repairs/additions/alterations to their dwelling units situated in metropolitan centres (those centres with a population of 10 lakh and above) is now revised to INR 10 lakhs and for the other centres the ceiling limit is revised to INR 6 lakhs.

Click here to access the Circular

6. Interest Equalization Scheme (IES) on Pre and Post-Shipment Rupee Export Credit – Extension

The Reserve Bank of India (RBI) vide a circular issued on March 08, 2022 has extended the Interest Equalization Scheme (IES) from October 1, 2021 and ends on March 31, 2024 stating that the extended IES would not be available to those beneficiaries who were availing of the benefit under any Production Linked Incentive (PLI) scheme of the Government.

In connection with this, it is clarified that extended IES will also be available to such beneficiaries for segments other than for which they have availed of PLI benefits and advised the banks to obtain a Self-Declaration under the IES from the exporters as per the prescribed format. Further, it was added that these provisions shall be deemed effective from October 1, 2021.

Click here to access the Circular

Income Tax Updates

1. Application for advance ruling – CBDT amends Rule 44E & Forms

The CBDT amended rule 44E of the Income Tax Rules, 1962   related to Application for obtaining an advance ruling and introduces amended FORM No. 34C, 34D, 34DA, 34E and 34EA vide Notification No. 49/2022-Income Tax dtd. 5^th May, 2022. Details of Forms are as follows:-

• FORM No. 34C – Form of application by a non-resident applicant] for obtaining an advance ruling under section 245Q(1) of the Income-tax Act, 1961
• FORM No. 34D – Form of application by a non-resident applicant] for obtaining an advance ruling under section 245Q(1) of the Income-tax Act, 1961
• FORM No. 34DA – Form of application by a non-resident applicant] for obtaining an advance ruling under section 245Q(1) of the Income-tax Act, 1961
• FORM No. 34E – Form of application by a person falling within such class or category of persons as notified by Central Government in the exercise of powers conferred for obtaining an advance ruling under section 245Q(1) of the Income-tax Act, 1961
• FORM No. 34EA – Form of application for obtaining an advance ruling under section 245Q (1) of the Income-tax Act, 1961.

Click here to access the circular

2. CBDT inserts new Rule 2DCA Computation of minimum investment & exempt income for Section 10(23FE)

CBDT inserts new Rule 2DCA Computation of minimum investment & exempt incomes for Section 10(23FE) vide Notification No. 50/2022-Income Tax dtd. 6^th May, 2022 and also –

• Substituted Form No. 10BBB [rule 2DB] – Intimation by Pension Fund of investment under clause (23FE) of section 10 of the Income-tax Act, 1961
• Substituted Form No 10BBC – [rule 2DB] – Certificate of accountant in respect of compliance to the provisions of clause (23FE) of section 10 of the Income-tax Act, 1961 by the notified Pension Fund
• Inserted Form 10BBD [rule 2DCA] [e-form] – Statement of eligible investment received.

Click here to access the circular

3. CBDT amends Form No. 3CF, 10A, 10AB, 10BD & 10BE

In exercise of the powers conferred by clauses (i), (ii), (iii) and (iv) of first proviso to clause (23C) of section 10, ninth proviso to clause (23C) of section 10, sub-clauses (i) (ii), (iii), (iv), (v) and (vi) of clause (ac) of sub-section (1) of section 12A, sub-section (3) of section 12AB, first and fifth proviso to sub-section (1) sub­section (1A) of section 35, clauses (i), (ii), (iii) and (iv) of first proviso to sub-section (5) of section 80G, third proviso to sub-section (5) of section 80G, clauses (viii) and (ix) of sub-section (5) of section 80G, read with section 295 of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962 vide Notification no. 51 dtd. 9^th May, 2022.

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4. Guidelines under clause (23FE) of section 10 of the Income-tax Act

The Finance Act, 2020, inter-alia, inserted clause (23FE) in section 10 of the Income-tax Act, 1961 to provide for exemption to wholly-owned subsidiaries of Abu Dhabi Investment Authority (ADIA), sovereign wealth funds (SWF) and pension funds (PF) on their income in the nature of dividend, interest and long-term capital gains arising from the investment made in infrastructure in India, during the period beginning with 01.04.2020 and ending on 31.03.2024 subject to fulfilment of certain conditions

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5. CBDT amends Income Tax rule 114 & Inserts rule 114BA & 114BB

CBDT amends Income Tax rule 114 related to the Application for allotment of a permanent account number and inserts new Rule 114BA. Transactions for the purposes of clause (vii) of sub-section (1) of section 139A and Rule 114BB. Transactions for the purposes of sub-section (6A) of section 139A and prescribed person for the purposes of clause (ab) of Explanation to section 139A vide Notification No. 53/2022-Income Tax dtd. 10^th May, 2022.

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6. Circular on use of functionality under sections 206AB & 206CCA

The Finance Act, 2021 inserted two new sections 206AB and 206CCA in the Income-tax Act 1961 which took effect from 1^st day of July 2021. These sections mandated tax deduction (section 206AB) or tax collection (section 206CCA) at higher rate in case of certain non-filers (specified persons) with respect to tax deductions (other than under sections 192, 192A, 194B, 194BB, 194LBC and 194N) and tax collections. Higher rate was twice the prescribed rate or 5%, whichever is higher. The specified person meant a person who satisfies the given conditions in the circular.

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7. CBDT notifies Rule 44FA Form & manner of filing appeal to HC against Advance Ruling

In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961, the Central Government hereby notifies for the purposes of the said clause, ‘National Biodiversity Authority’ (PAN AAALN0331K), an Authority established under the Biological Diversity Act, 2002, in respect of the certain specified income arising to that Authority as stated in the Notification No. 58/2022-Income Tax dtd. 31^st May, 2022

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GST Updates

1. Late Fee for the delay in filing FORM GSTR-4 for FY 2021-22 waived

The CBIC issued Notification No. 07/2022- Central Tax dtd. 26^th May 2022 by which the late fees payable for delay in furnishing of FORM GSTR-4 for the Financial Year 2021-22 under section 47 of the CGST Act shall stand waived for the period from the 1^st May 2022 till 30^th June 2022.

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2. CBIC - Instruction No. 01/2022-23 [GST – Investigation], Dtd. 25th May, 2022

The CBIC had issued Instruction No. 01/2022 [GST – Investigation] dtd. 25^th May 2022 for deposit of tax during the course of search, inspection or investigation.

Click here to access the circular