RBI/FEMA: RBI clarified for Reporting Reverse Repo Transactions in Form ‘A’ Return by various banks. [ RBI/2023-24/68 DoR.RET.REC.43/12.01.001/2023-24 dated 16th Oct 2023]
Corporate Law: MCA Imposes Rs. 2 Crore Penalty for Section 42(6) Violation for Allotment of Securities. [Order No. ROC-G/Adj. Pen./u/s.42(6)/)/My Wheels/2233 dated 11th oct 2023]
Corporate Law: Non-Disclosure of Interest in Form MBP-1 – MCA imposes Rs. 3 Lakh Penalty. [Order No. RoCP/ADJ/order/184(2)(b)/23-24/12/1582 dated 11th Oct, 2023]
Corporate Law: ₹ 64 Lakh penalty for non-certification of list of allottees attached with Form PAS-3. [Order No. RoC (P)/ADJ/order/39(4)/23-24/12/1586 dated 11th Oct, 2023]
Corporate Law: MCA Imposes 3 Lakh Penalty each for CIN Absence on Company Letterhead & non-maintenance of Registered Office. [Order No: ROC-G /Adj. Pen./u/s..12(3)(c)/My Wheels/2211 dated 11th Oct 2023]
SEBI: SEBI Master Circular issued on Know Your Client (KYC) norms for securities market. [Circulars No. SEBI/HO/MIRSD/SECFATF/P/CIR/2023/169 dated 12th Oct 2023]
DGFT: It is clarified that re-import of unsold jewellery exported for the purpose of exhibition abroad may be allowed clearances by customs authorities without import license in compliance with applicable customs provisions. [Circular No.5/2023-24 dated 16th Oct 2023]
Customs: Changes in Tariff Values of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver. [Notification No.75/2023-Cus NT dated 13th Oct, 2023]
Customs: Extension of currently applicable export duty of 20% on Parboiled Rice up to 31.03.2024, amendments done to Notification No. 55/2022-Customs, dated 31.10.2022. [Notification No.59/2023-Cus dated 13th Oct 2023]
Other: Corrigendum guidelines issued for Production Linked Incentive (PLI) Scheme for promoting domestic manufacturing of White Goods (Air conditioners and LED Lights). [File No. P-29014/101/2020-LEI dated 9th Oct 2023]
Company Law: MCA Penalizes company with penalty of Rs.9 lakh for 2 years (Company 3 Lakh, MD & KMP CFO & CS 50K each for each year) for Non-Inclusion of Sexual Harassment Compliances reporting in Board’s Report. [Order No. ROC(8)/Adj. Order/454-134(3)/CEETA /Co.No.21494/2023]
SEBI: SEBI extends the deadline for enhanced qualification and experience requirements for investment advisers to September 30, 2025. [Circular No. SEBI/HO/MIRSD/MIRSD-PoD-2/P/CIR/2023/168 dated 10th Oct 2023]
DGFT: Amendment in FTP Para 4.10(i), so as to permit availment of ITC on transfer of GST paid material between the units located in same state or another state in respect of AA Scheme. [Public Notice No.34/2023 dated 13th Oct 2023]
DGFT: To facilitate the speedy disposal of pending EODC for AA and EPCG, concerned RA’s will be organizing a camp from 13th Nov 23 to 24th Nov 23. [Trade Notice No.29/2023-24 dated 13th Oct 2023]
Customs: Anti-dumping duty imposed on imports of flax yarn of below 70 lea count originating in or exported from China PR. [Notification No.10/2023-Cus ADD dated 12th oct 2023]
GST: GSTN introduced facility for the e- commerce operators through whom unregistered suppliers of goods can supply goods & enroll for the same. [Press Release No.607 & 608 dated 12th Oct 2023]
Others: IRDAI (Insurance Regulatory and Development Authority of India) issues Bima Vahak Guidelines 2023 for Women-Centric Insurance Distribution. [IRDAI/LIFE/CIR/GDL/174/10/2023 dated 9th Oct 2023]
RBI/FEMA RBI Extends PCA (Prompt Corrective Actions) Framework to Government NBFCs. [Notification No. RBI/2023-24/67 Ref. No. DoS. CO. PPG/SEC.05/11.01.005/2023-24 dated 10th Oct 2023]
IBBI: IRP (Interim Resolution Professional), RP (Resolution Professional), IP (Insolvency Professional) or Liquidator not allowed to cross the Laxman Rekha (borders) in due diligence. [Ordner No. IBBI/DC/192/2023 dated 9th October 2023]
Income Tax: Clarifications issued w. r. t. Trust Audit Reports for various entities, including funds, trusts, institutions, universities, educational institutions, hospitals, and medical institutions with regard to trust audit reports issued by CBDT. [Circular No.17/2023 dated 9th Oct 2023]
