Major decisions taken in 32nd GST Council meeting

32nd GST Council Meeting held on 10th January, 2019 under the Chairmanship of the Union Minister of Finance & Corporate Affairs, Shri Arun Jaitley in New Delhi gave major relief to MSME (including Small Traders). Following significant decisions were taken in the meeting: 1. Increase in Turnover Limit for the existing Composition Scheme: The limit […]

New Packaging Regulations notified by FSSAI

FSSAI’s new packaging regulations have been notified which replaces all provisions w.r.t. packaging requirements prescribed in the Food Safety and Standards (Packaging and Labelling) Regulations, 2011. These regulations address all concerns that came out of the two studies conducted by FSSAI recently through the Indian Institute of Packaging (IIP), Mumbai and the National Test House […]

Central Goods and Services Tax (Removal of Difficulties) Order, 2018

The Central Government has issued 2nd, 3rd and 4th CGST Removal of Difficulties Orders dated 31st December 2018. Central Goods and Services Tax (Second Removal of Difficulties) Order, 2018 Proviso to sub-section (4) of Section 16 and sub-section (3) of Section 37 of the CGST Act, 2017 has been added. The financial year 2017-18 was […]

Central Government notifies the Companies (Incorporation) Fourth Amendment Rules, 2018

The Central Government has on 19th December 2018 notified Companies (Incorporation) Fourth Amendment Rules, 2018 which has made the following important amendments: i) Insertion of Rule 23A: “23A. Declaration at the time of commencement of business.-The declaration under section 10A by a director shall be in Form No.INC-20A and shall be filed as provided in […]

Union Cabinet Approves Amendment to Trade Unions Act, 1926

The Union Cabinet, on 2nd January 2019, chaired by the Prime Minister has approved Amendment to the Trade Unions Act, 1926 to make provisions regarding the Recognition of Trade Unions. The approval will facilitate: Recognition of Trade Unions at Central and State level; Ensure true representation of workers in the tripartite bodies; Check on the […]

RBI notifies Foreign Exchange Management (Borrowing and Lending) Regulations, 2018

The Reserve Bank of India has notified the new FEMA (Borrowing and Lending) Regulations on 17th December, 2018, to regulate borrowing and lending transactions between a person resident in India and a person resident outside India. RBI has come up with these regulations to cope up with the changing dynamics of the economy. Regulation 3 […]

Review of FDI Policy in e-commerce

Ministry of Commerce and Industry, DIPP has clarified the FDI policy on e-commerce activities in a press note dated 26th December, 2018, which will come to effect from 2nd February, 2019. 100% FDI is allowed in e-commerce. E-commerce entities are allowed only to engage in Business to business (B2B) e-commerce and not Business to Consumer […]

MCA clarifies last date of filing of NFRA-1

Ministry of Corporate Affairs has clarified the date of filing of NFRA-1 in a circular dated 13th December, 2018. As per the Circular, NFRA-1 can be filed within 30 days from the date of deployment of the form on the website of Ministry/ National Financial Reporting Authority (NFRA). As per Rule 3 of National Financial […]