Company Law: ROC Karnataka imposes penalty for 2 days default in holding Board Meeting of Rs.25,000/- on Company Secretary bring officer in default. [Order F. No. ROCB/ADJ.ORDER/SECTION 173/Co.No.59719/2022(SRN 100078413) Date: 04.11.2022]
Customs: Land Customs Stations removal of seasonal limit for trade and item restriction for import and export through Nagarkata and Kulkuli LCS by amendment of Principal Notification No. 63/1994-Customs (N.T.) dated 21st November, 1994. [Notification No. 102/2022-Customs (N.T.) dated 8th Dec 2022]
DGFT: Western UP Chamber of Commerce & Industry, Meerut is enlisted under Appendix 2E of FTP for issuing Certificate of Origin Non-Preferential. [Public Notice No.42/2015-2020 dated 8th Dec 2022]
DGFT: Revision / updation of Appendix -2J – List of State Trading Enterprises (STEs) for FTP purpose and eligible STEs for allocation of quota for import under the Tariff Rate Quota (TRQ). [Public Notice No.40/2015-2020 dated 8th Dec 2022]
DGFT: Annual Exports quota for red sanders (Pterocarpus santulinus) for Andhra Pradesh is notified. [[Notification No.49/2015-2020 dated 9th Dec 2022]
DGFT: MMTC has been de-notified as a STE. Import of Copra under HS Code 12030000 shall be allowed through NAFED. [Notification No.48/2015-2020 dated 8th Dec 2022]
Others: Constitution of Working Group for suggesting the regulatory framework for post de-notification of the existing tariffs. [Order Ref No: IRDAI/NL/ORD/MISC/242/12/2022 dated 7th Dec, 2022]
Others: Insurance Regulatory Development Authority of India (Other Forms of Capital) Regulations, 2022 notified with the objective to provide for effective regulatory framework for issuance of Other Forms of Capital by Insurers other than a Foreign Re-insurer’s Branch and to specify minimum reporting and disclosure norms. [IRDA Notification F. No. IRDAI/Reg/8/187/2022 dated 5th Dec 2022]
Income Tax: Circular issued with all consolidated provisions and its clarifications w.r.t. Deduction of Tax at Source, Income Tax Deduction from salaried under provisions of Section 192 of Income Tax Act, 1961 during the Financial Year 2022-23. [Circular No.24/2022 dated 7th Dec 2022]
RBI: As announced in the Monetary Policy Statement 2022-23, it has been decided by the Monetary Policy Committee (MPC) to increase the policy repo rate under the Liquidity Adjustment Facility (LAF) by 35 basis points from 5.90 per cent to 6.25 per cent with immediate effect. Accordingly Standing Liquidity Facility provided to Primary Dealers (PDs) …
DGFT: Additional export sectors / items falling under Chapter 28 (Inorganic chemicals, organic or inorganic compounds of precious metals, of rare-earth metals, of radioactive elements or of isotopes), 29 (Organic Chemicals), 30 (Pharmaceutical Products) & 73 (Articles of Iron & Steel) are added in Appendix 4R for RoDTEP for exports made from 15.12.2022 till 30.09.2023. …
Others: Govt notifies NPCI (National Payments Corporation of India) for Aadhaar authentication under PMLA (Prevention of Money-Laundering Act, 2002). [Notification No. S.O. 5683(E ) dated 6th dec 2022]
Others: Time limit for furnishing quarterly returns is modified from 5 days to 20 days for as per clarifications by Insurance Regulatory and Development Authority of India. All quarterly returns shall be furnished within 20 days from the close of the reporting quarter. These norms are applicable with immediate effect and are applicable to all …
SEBI: SEBI (Listing Obligations and Disclosure Requirements) (Seventh Amendment) Regulations, 2022 has been issued so as to insert new Regulation No.102 (1A) stating that Board may relax the strict enforcement of any of the requirements of these regulations, if an application is made by the Central Government in relation to its strategic disinvestment in a …
Company Law: MCA penalises company for not filing its Annual Return: Order for penalty for violation of Section 92 of the Companies Act, 2013 issued by AO & ROC Cum Liquidator, Patna imposing penalty of Rs.1,18,400 on the Company and Rs.50,000/- each on both the Director/ Officer in default. [Order No. ROC/PAT/SCN/92/15125/2072-2075 dated 17th Nov …
Company Law: MCA penalises company for not filing its Annual Return (07.12.2022) Read More »
RBI: As announced in the Monetary Policy Statement dated December 07, 2022, the Monetary Policy Committee (MPC) decided changes in rates for Liquidity Adjustments as under with immediate effect: To increase the policy repo rate under the Liquidity Adjustment Facility (LAF) by 35 basis points from 5.90 % to 6.25 % The standing deposit facility (SDF) rate …
Others: Clarification on encashment of National Savings Certificates (IX Issue): It is clarified that, though NSC IX Issue is a discontinued scheme, NSC IX Issue certificates may be discharged / encashed / closed in any Departmental Post Office, following the procedures prescribed in Chapter 13 of POSB CBS Manual Volume (Corrected up to 31.12.2021). Also …
Others:Clarification on encashment of National Savings Certificates (06.12.2022) Read More »
Others: New activities such as Drone manufacturing, Portable Petrol Pump/Portable Service Stations, Biomass pellet manufacturing, etc. has been included to NIC Code. [Notification No. F. No.5/2(10)/2022/E-P&G/Policy dated 3rd Dec 2022]
Others: Draft Food Safety and Standards (Labelling & Display) Amendment Regulations, 2022 has been presented by Food Safety and Standards Authority of India for certain further amendments to Food Safety and Standards (Labelling & Display) Regulations, 2020, with previous approval of the Central Government. [Notification F. No. STD/SP-08/A1.2022/N-01 dated 30th Nov 2022]
Legal Metrology: Legal Metrology (Packaged Commodities) Rules, 2011 will now come into force w.e.f. 1st Jan 2023. [Notification No. G.S.R. 859(E) dated 30th Nov 2022]
