Highlights of the 38th GST Council Meeting’s outcome
GSTR 9 and GSTR 9C due date extended till 31st January 2020 for the FY 2017-18.
Madhya Pradesh Clinical Establishments (Registration & Regulation) Bill, 2019, proposes to repeal the existing Madhya Pradesh Upcharyagriha Tatha Rujopchar Samabandi Sthapnaye (Registrikaran Tatha Anugyapan) Adhiniyam, 1973
The State Government of Madhya Pradesh has issued the Madhya Pradesh Clinical Establishments (Registration & Regulation) Bill, 2019 which seeks to repeal the existing Madhya Pradesh Upcharyagriha Tatha Rujopchar Samabandi Sthapnaye (Registrikaran Tatha Anugyapan) Adhiniyam, 1973, in order to provide for the registration and regulation of clinical establishments in the state.
FSSAI Proposes Change in the Methodology of Applying for Licenses under FSS Act 2006
The Food Safety and Standards Authority of India (FSSAI) on 17th December 2019, has issued a consultation paper which explains the proposed changes in the method of licensing where a standardized product list approach is adopted under the provision of Food safety and standards Act 2006.
National e- Assessment Centre extends date for filing response to notices send under E-assessment Scheme 2019
The date for filing response to Notices send under Section 142(1) of Income Tax Act upto 24-12-2019 has been extended to 10-1-2020 or time given under the notice, whichever is earlier.
RBI raises aggregate exposure limit to Rs.50 Lakh in peer to peer lending platform
The Reserve Bank of India has increased the limits imposed NBFCs lenders using peer-to-peer lending platform to ₹50 lakh, in a major relief to the fledgling sector.
State Government of Rajasthan in order to provide benefit to manufactures and service sectors has issued Rajasthan Investment Promotion Scheme, 2019
Rajasthan Investment Promotion Scheme, 2019 to provide benefits to eligible manufacturing and services sector enterprises, to promote rapid, sustainable and balanced economic growth and to generate employment opportunities in the State of Rajasthan.
The State Government of Rajasthan has exempted tax payment for dealers selling high speed diesel to manufacturers or work contractors
Rajasthan Value Added Tax Act, 2003 is amended by exempting the registered dealers selling High Speed Diesel to manufacturers and works contractors registered under the Rajasthan Goods and Service Tax Act, 2017 from tax payment.
Taxation Amendment Act 2019 repeals The Taxation Law Amendment Ordinance
The Ministry of Law and Justice vide Notification dated 12th December 2019, has published the Taxation Laws (Amendment) Act, 2019, which shall be effective retrospectively from 20th September 2019. The Taxation law amendment ordinance 2019 is thereby repealed and the action taken under the ordinance shall be deemed to have been done or taken under the New Amendment act 2019.
The Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2019
The Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2019, states that an entity registered as a foreign portfolio investor shall be permitted to invest in Indian securities as a person resident outside India in accordance with provisions of the Foreign Exchange Management Act, 1999 and rules and regulations made thereunder.
The Income Tax (15th Amendment) Rules, 2019 substitutes Form 10DA
The Ministry of Finance has amended Income-tax Rules, 1962 to substitute FORM No. 10DA in appendix II, related to “report for claiming deduction in respect of employment of new employees”.
