Legal Updates - Corporate Law Reporter

Total Expense Ratio – change and disclosure :SEBI

CIRCULAR SEBI/HO/IMD/DF2/CIR/P/2018/18 February 05, 2018 All Mutual Funds/Asset Management Companies (AMCs)/ Trustee Companies/Boards of Trustees of Mutual Funds Sir/ Madam, Subject: Total Expense Ratio – change and disclosure 1. It is observed that there are frequent changes carried out in Total Expense Ratio (TER) and such changes are not prominently disclosed to investors. In order… Read More

Charging of additional expenses of upto 0.20% in terms of SEBI (Mutual Funds) Regulations, 1996

CIRCULAR SEBI/HO/IMD/DF2/CIR/P/2018/15 February 02, 2018 All Mutual Funds/ Asset Management Companies (AMCs)/ Trustee Companies/ Boards of Trustees of Mutual Funds Sir/Madam, Sub: Charging of additional expenses of upto 0.20% in terms of Regulation 52 (6A) (c) of SEBI (Mutual Funds) Regulations, 1996 1. Regulation 52 (6A) (c) of SEBI (Mutual Funds) Regulations, 1996, allows an… Read More

Review of additional expenses of up to 0.30% towards inflows from beyond top 15 cities: SEBI

CIRCULAR SEBI/HO/IMD/DF2/CIR/P/2018/16 February 02, 2018 All Mutual Funds/Asset Management Companies (AMCs)/ Trustee Companies/Boards of Trustees of Mutual Funds Sir/ Madam, Subject: Review of additional expenses of up to 0.30% towards inflows from beyond top 15 cities (B15) 1. Presently, in terms of para A(1) of SEBI circular CIR/IMD/DF/21/2012 dated September 13, 2012, additional TER can… Read More

MCA exempts Govt. Company from complying with Ind AS 12 for 7 years w.e.f April 2017

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 5th February, 2018 S.O. 529(E).— In exercise of the powers conferred by sub-section (6) of Section 129 of the Companies Act, 2013 (18 of 2013), the Central Government, in the interest of public, hereby directs that the provisions of Accounting Standard 22 or Indian Accounting Standard 12… Read More

MCA designates Special Courts in Kerala, Orissa and Guwahati for speedy Trial of offences

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 5th February, 2018 S.O. 528(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 Justices of the High Courts of Kerala, Orissa and Gauhati, hereby designates the following… Read More

Govt. exempts Integrated tax GST compensation cess on imported goods from levy of Social Welfare Surcharge

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No.13/2018- Customs New Delhi, the 2 nd February, 2018 G.S.R. (E). – In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52… Read More

CBEC rescinds Not. 28/2007-Customs dated 01.03.2007 exempting specified goods from the levy of SHE Cess

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No.10 /2018-Customs New Delhi, the 2nd February, 2018 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962)… Read More

CBEC rescinds Not. 69/2004-Customs dt. 09.07.2004 exempting specified goods from the levy of Education Cess

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No.9/2018-Customs New Delhi, the 2 nd February, 2018 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962)… Read More

Govt. exempts all goods from levy of SHE cess specified in the First Schedule to the Customs Tariff Act, 1975

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No.8/2018- Customs New Delhi, the 2 nd February, 2018 G.S.R…….(E). – In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of… Read More

CBEC exempts all goods from levy of Education Cess specified in First Schedule Customs Tariff Act, 1975

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No.7/2018- Customs New Delhi, the 2 nd February, 2018 G.S.R. (E). – In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52… Read More

Amendments to the All Industry Rates of Duty Drawback effective from 25.01.2018

Circular No. 4/2018-Customs F. No. 609/12/2018-DBK Government of India Ministry of Finance, Department of Revenue Central Board of Excise & Customs New Delhi, the 24th January, 2018 To Principal Chief Commissioners / Principal Directors General Chief Commissioners / Directors General Principal Commissioners & Commissioners, all under CBEC Madam/Sir, Subject: Amendments to the All Industry Rates… Read More

CBEC to be renamed central board of indirect taxes and customs (CBIC)

With the roll out of GST, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley while presenting the General Budget 2018-19 in Parliament today, announced that the name of Central Board of Excise and Customs [CBEC] will be changed to Central Board of Indirect Taxes and Customs (CBIC). The necessary changes in law… Read More

Incentive For Real Estate: No Adjustment To Be Made If The Circle Rate Value Does Not Exceed 5% Of The Consideration

The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley proposed that no adjustment shall be made in a case where the circle rate value does not exceed 5% of the consideration. While presenting the General Budget 2018-19 in Parliament here today, he said, “Currently, while taxing income from capital gains, business profits and… Read More