ECB Policy – Rationalisation and Liberalisation: RBI

RBI/2017-18/169 A.P. (DIR Series) Circular No.25 April 27, 2018 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) Policy – Rationalisation and Liberalisation Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Master Direction No.5 dated January 1, 2016 on External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency… Read More

SEBI amends Monitoring of Foreign Investment limits in listed Indian companies

CIRCULAR IMD/FPIC/CIR/P/2018/74 April 27, 2018 To 1. All Foreign Portfolio Investors (through their designated Custodian of Securities) 2. The Depositories (NSDL and CDSL) 3. The Stock Exchanges (BSE,NSE and MSEI) Dear Sir / Madam, Sub: Amendment to SEBI Circular No. IMD/FPIC/CIR/P/2018/61 dated April 5, 2018 on Monitoring of Foreign Investment limits in listed Indian companies… Read More

Ind-AS XBRL deadline extended to 31st May, 2018

As per General Circular No.04/2018 dated 27th April, 2018 (which can be downloaded from the link below), the last date for filing financial statements in XBRL mode in Ind-AS has been extended to 31st May, 2018. Circular042704_27042018 Read More

Consumer Price Index for Industrial Workers (CPI-IW) – March, 2018

The All-India CPI-IW for March, 2018 remained stationery at 287 (two hundred and eighty seven). On 1-month percentage change, it remained static between February and March, 2018 when compared with the increase of (+) 0.36 per cent between the corresponding months of previous year. The maximum pressure to the change in current index came from… Read More

MCA extends date for Condonation of Delay Scheme, 2018 till 1st May 2018

General Circular No. 03/2018 F.No.02/04/2017-CL-V GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS 5th Floor, 'A' Wing Shastri Bhawan, Dr. R.P. Road, New Delhi Dated: 27.04.2018 To, All Regional Directors, All Registrars of Companies, All Stakeholders. Subject: Condonation of Delay Scheme, 2018.  Sir, In continuation to the Ministry's General Circular No. 16/2017 dated 29/12/2017 and General… Read More

GST Revenue Collections for the Financial Year 2017-18

Total Revenue of Rs. 7.19 lakh crore collected under GST in the period between August 2017 and March 2018 During 2017-18, total revenue collected under GST in the period between August 2017 and March 2018 has been Rs. 7.19 lakh crore. This includes Rs. 1.19 lakh crore of CGST, Rs. 1.72 lakh crore of SGST,… Read More

MCA designates Special Court in UP for trial of Company Law offences

GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, the23 April, 2018 S.o.  (E).- In exercise of the powers conferred by sub-section (1) of section 435 of the Companies Act, 2013 (18 of 2013), the Central Government, with the concurrence of the Chief Justice of the High Court of Allahabad hereby designates the following Court… Read More

IBBI prescribes conditions for Disciplinary Proceedings against insolvency Professional

Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001 CIRCULAR No: LA/010/2018 23rd April, 2018 To All Registered Insolvency Professionals All Registered Insolvency Professional Agencies (By mail to registered email addresses and on website of the IBBI) Dear Madam / Sir, Sub: Commencement of Disciplinary Proceeding The Insolvency and Bankruptcy… Read More

Govt. invites comments on draft Notification under section 112A as inserted by Finance Act, 2018 by 30th April, 2018

The Finance Act, 2018 has withdrawn the exemption under clause (38) of Section 10 of the Income-tax Act, 1961 (the Act) and has introduced a new section 112A in the Act, to provide that long term capital gains arising from transfer of a long-term capital asset being an equity share in a company or a… Read More

SEBI slams fine of Rs. 1 cr for Non-Compliance

SEBI imposes a total fine of Rs. 1 crore, including Rs. 5 lakh on Compliance officer of  Suzlon Energy, for failure to disclose the price sensitive  information required  under the insider trading regulations for several occassions. The violations made by the company pertains to, failure in making certain corporate announcements received by them. The regulator said,… Read More

E-Way Bill system to roll out in Arunachal Pradesh, Madhya Pradesh, Meghalaya, Sikkim and Puducherry from 25 April, 2018

PRESS RELEASE 23rd April, 2018 Subject: Roll out of e-Way Bill system for intra-State movement of goods in the States / Union Territory of Arunachal Pradesh, Madhya Pradesh, Meghalaya, Sikkim and Puducherry from 25 thApril, 2018 As per the decision of the GST Council, e-Way Bill system for inter-State movement of goods has been rolled… Read More

Issues regarding “Bill To Ship To” for e-Way Bill under CGST Rules, 2017

A number of representations have been received seeking clarifications in relation to requirement of e-Way Bill for “Bill To Ship To” model of supplies. In a typical “Bill To Ship To” model of supply, there are three persons involved in a transaction, namely: ‘A’ is the person who has ordered ‘B’ to send goods directly… Read More

RBI updates Know Your Customer (KYC) Direction, 2016

RBI/DBR/2015-16/18 Master Direction DBR.AML.BC.No.81/14.01.001/2015-16 February 25, 2016 (Updated as on April 20, 2018) Master Direction - Know Your Customer (KYC) Direction, 2016 In terms of the provisions of Prevention of Money-Laundering Act, 2002 and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, Regulated Entities (REs) are required to follow certain customer identification procedures while… Read More

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