Ministry Of Commerce And Industry lifts the ban on export of personal protection equipment
The Ministry Of Commerce And Industry in its notification dated 25th February 2020 has allowed the export of a list of personal protection equipment and removed surgical masks and gloves, except synthetic rubber ones etc. from the list of banned items.
CBIT redefines the criteria to determine the the value of supply of lottery
Central Board of Indirect Taxes and Customs(CBIT) vide notification dated the 2nd March, 2020, has issued the Central Goods and Services Tax (Second Amendment) Rules, 2020. The Amendment redefines the criteria to determine the the value of supply of lottery.
SEBI Revises norms on compensation and penalty under Regaining Matched Book for Commodity Derivatives Segment
The Securities and Exchange Board of India vide its circular dated 3rd March 2020, has revised norms of compensation and penalty applicable on termination of contracts under the regaining matched book regulations for commodity derivatives segment.
Workers employed in factories in the state of Maharashtra shall be medically examined once in a year
The Industries, Energy and Labour Department of Maharashtra vide its notification dated 10th February 2020 has issued the Maharashtra Factories (Amendment) Rules, 2020. As per new amendment Workers employed in factory shall be medically examined once in a year by a registered medical practitioner and the report shall be recorded and reported to inspector.
MCA Issues clarification on prosecution filed or internal adjudication proceedings initiated against independent directors.
The Ministry of Corporate Affairs in its notification dated 2nd March 2020 has issued clarification that the prosecution proceedings against the independent and non-executive directors shall not be initiated unless there is strong evidence of their complicity in frauds committed by the companies.
