Vivek Jain’s Post

🚨 𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝗨𝗽𝗱𝗮𝘁𝗲 𝗼𝗻 𝗙𝗧𝗔 - 𝗜𝗻𝗱𝗶𝗮-𝗨𝗔𝗘 𝗖𝗘𝗣𝗔 🚨 CBIC has issued Instruction No. 21/2024-Customs, addressing 𝗰𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲𝘀 𝗿𝗲𝗹𝗮𝘁𝗲𝗱 𝘁𝗼 𝘁𝗵𝗲 𝗿𝗲𝘁𝗿𝗼𝘀𝗽𝗲𝗰𝘁𝗶𝘃𝗲 𝗶𝘀𝘀𝘂𝗮𝗻𝗰𝗲 𝗼𝗳 𝗖𝗲𝗿𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗲𝘀 𝗼𝗳 𝗢𝗿𝗶𝗴𝗶𝗻 (𝗖𝗢𝗢𝘀) under the India-UAE Comprehensive Economic Partnership Agreement (CEPA). 🔍 𝗞𝗲𝘆 𝗽𝗼𝗶𝗻𝘁𝘀: ➡️Retrospective issuance of COOs is permissible in exceptional circumstances, as per Rule 15(11), within 12 months from shipment. ➡️Refunds can be claimed for excess duties if preferential treatment was not initially extended. ➡️Minor errors in COOs will not invalidate them, as long as the product origin is clear. This ensures that trade benefits under CEPA are accessible, even when procedural discrepancies arise. For more information refer the instruction No. 21/2024-Cus. #IndiaUAECEPA #TradeCompliance #CustomsRegulation #FTA #GCC #Indiancustoms #Customs #Globaltrade #Supplychain #CHA #Importers #BCHAA #BCBA #CCBA #CBIC #DGFT #MOC #COO 

The Prescribed Company Regulations (PCR) were enacted in 2019 and were further updated in 2020 and 2022. In both cases to expand the regime to a wider base of applicants. Despite these amendments, DIFC has been met with continued demand to further expand the regime. DIFC has sought to balance the objective of operating as a jurisdiction of substance against demand for access to special purpose style vehicles used for legitimate structuring purposes and transactions. With the introduction of UAE Corporate Tax, concerns around substance requirements are reduced and DIFC is of the view that further expansion of the PC regime is now appropriate. The updated PCR came into effect on 15 July 2024, and can be accessed via DIFC’s Legislative Database. For a confidential discussion on the new legislation and how your business might be able to benefit from the same, please DM me or contact me at david.pang@dentons.com

Everyone is aware that rumour having material price movement must be verified, confirmed, or denied. But the important question is how to address this. What is the process to be adopted? How detailed does this process need to be?   Will it be confined to verification alone? Whether such rumour will trigger materiality parameters and expect disclosure under Reg 30? And the most important one will it be required to be treated as UPSI? Will changes after the rumour is clarified be considered material updates? Have a glance at the below information which can help you get an insight: #mmjc #mmjccares #sebi #bse #nse #lodr

Though the Market regulator has extended the date to verify and confirm, deny or clarify market rumours of the LODR Regulations for top 100 listed entities by market capitalization, to June 1, 2024 and for top 250 listed entities  by market capitalization, to December 1, 2024 This grace period can be utilised to understand the key take ways of the amendments issued by SEBI and try to implement the processes for achieving the compliance. Implementing robust rumor verification processes not only safeguards our own credibility but also contributes to the responsible sharing of information and avoiding information asymmetry. #sebi #rumour #bse #nse #lodr #mmjc #mmjccares

It is necessary to identify the stages of rumour verification and identify stakeholders internally as well externally and document some practices to set a base for rumour verification. #sebi #bse #nse #rumors #lodr #listedcompanies #mmjc #mmjccares

EHC - OTP 24 - Day 6 (Live Export Doubts Session) EHC - OTP 24 - Day 6 (Live Export Doubts Session)

Exciting update from the #DIFC! 🚀 The Dubai International Financial Centre (DIFC), one of the leading financial hubs in the MEASA region, has announced significant amendments to its Prescribed Company (PC) Regulations which are likely to increase the use of this form of holding company by businesses around the world. #Clara is here to help you navigate these changes seamlessly. Key updates: 🔹 Expanded Eligibility: Establishing a PC now includes more eligibility scenarios, such as entities controlled by GCC citizens, those holding GCC registrable assets, and those established for a “qualifying purpose”. Companies anywhere in the world can also establish a PC provided they appoint a director from a DFSA-registered Corporate Service Provider (CSP), such as Clara. 🔹 Enhanced Compliance: DIFC is updating AML procedures to handle increased demand while maintaining a robust legal framework. Clara ensures you stay compliant with these updates. 🔹 Streamlined Usage: PCs must be used solely for their qualifying purpose or as holding company vehicles. 🔹 Commercial Package: Reduced fees and flexible licensing for qualifying applicants, including existing PCs. These changes to the PC Regulations may set the stage for the PC to become a strong alternative to ADGM, Cayman or Singapore holding companies for businesses operating from emerging markets. Contact us for more information about how these changes can benefit your business! 🌟 Read the full story here: https://lnkd.in/de-C9vaC #DIFC #Clara #RegulatoryUpdates #Compliance #CorporateStructuring #Dubai  

EHC - OTP 23 - Day 57 (Live Export Doubts Session) EHC - OTP 23 - Day 57 (Live Export Doubts Session)

Let’s demystify the world of the Canadian General Standards Board! National standards published by the CGSB fall into 2 categories: requirements standards and test methods. Requirement standards are like the rulebook for various subjects, and test methods 🧪 are the step-by-step guides for product testing. It's a bit more intricate than that, so click the link if you want to learn more! https://ow.ly/iIP450T132q While you’re there, check out the wide range of standards ensuring the products and services Canadians use on a daily basis meet expectations and enhance quality of life ➡️ https://ow.ly/Ynz450T132M #CGSBAndYou

The Standing Committee on International Trade (CIIT) has been conducting a study on the CBSA Assessment and Revenue Management System (CARM). CARM Release 2 is scheduled to launch on May 13, 2024. Throughout the proceedings, we have noticed that there seems to be some confusion that has led to misunderstandings around the role of financial security in general, and in particular surrounding surety bonds. The Surety Association of Canada | L’Association canadienne de caution (SAC) has submitted the following letter to the CIIT to set the record straight and to provide clarity and detailed information in this regard. For any questions regarding obtaining a customs bond, contact surety@suretycanada.com. (La version française sera bientôt disponible) #CBSA #CARM #importer #customsbonds #CIIT #suretybonds