SEBI Mandates banks to disclose divergence in asset classification
The Securities and Exchange Board of India vide notification dated 31st October 2019, has mandated banks to disclose material divergence in the asset classification and such information shall be disclosed within 24 hours of the receipt of the Reserve Banks Final Risk Assessment Report.
DGFT Issues notice to the members of trade and industry to choose the appropriate category while filing the bill of entry
Directorate General of Foreign Trade has advised the members of trade and industry to be careful while mentioning the HS Codes in Bill of Entry in case of imports and shipping bills in case of exports and indicate the specific HS codes of items at 8 digit level instead of using the “Others” category in a loose and inaccurate manner.
The Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2019
The Insolvency and Bankruptcy Board of India, in its notification dated 25th October 2019 has published The Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2019 to further amend the IBBI (Insolvency Professionals) Regulations, 2016, which has provided for every insolvency professional entity to file a compliance certificate.
Government of Maharashtra redresses technical difficulties faced by tax payers under Maharashtra State Tax on Professions, Trades, Callings and Employments Act
The Government of Maharashtra has issued a trade circular to deal with delays in obtaining professional tax enrolment/ registration by employers liable to pay professional tax. The Circular has provided the list of grounds under which an administrative relief can be granted to the tax payers for delays in obtaining the Professional tax registration.
