CBIT extends exemption from IGST and compensation cess given to Export Oriented Units
The Central Board of Indirect Taxes(CBIT) vide notification dated 24th March, 2020 has extended the exemption from Integrated Goods and Service Tax (IGST) and compensation cess given to EOUs on imports for another year.
Ministry of Finance notifies Securities Contracts (Regulation) (Amendment) Rules, 2020
The Ministry of Finance vide its Notification dated 19th March 2020 has brought significant change in the Securities Contracts (Regulation) Rules 1957 by allowing promoters and founders of companies who hold superior voting shares to list on stock exchanges in the same way as ordinary shares. Further, it added that the minimum offer and allotment requirements shall not be applicable to the listing of such equity shares having superior voting rights.
GST e-Invoice with Dynamic QR Code implementation extended to 1st October 2020
CBDT has notified that the e-invoice and QR Code would be mandatory for the taxpayers from 1st October 2020 under the GST regime.
Aadhar Authentication mandatory for GST registration
The Applicant while submitting the application for registration after 1st April 2020, shall undergo authentication of Aadhaar number for grant of registration.
FSSAI declares import and testing of food as “Essential Services”
All personnel assigned to these services shall attend office where as the rest of the officials who would be working from home shall be available all the time via telephonic and electronic communication systems.
SEBI Extends timeline for regulatory filings and compliances for REITs and InvITs
All filings and compliances that was to be made by Real estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) within 31st March 2020, is extended for a month from their due dates.
SEBI grants relaxation to Mutual Funds in the context of Pandemic COVID 19
Securities Exchange Board of India vide notification dated 23rd March 2020 has extended relaxations in compliances related to Mutual funds due to the Pandemic COVID 19. As per the notification all NFO schemes which have been given observation letters but are yet to be launched shall have validity period of 1 year from the date of issuance of such letter. Timelines of certain disclosures and policy initiatives have also been extended.
