SEBI relaxes minimum public shareholding norms
The Securities and Exchange Board of India vide its circular dated 14th May 2020 has relaxed the 25% minimum public shareholding (MPS) norms for listed companies in the wake of the Covid-19 outbreak.
SEBI relaxes the procedural requirements for open and buyback offers.
The Securities and Exchange Board of India vide its circular dated 14th May 2020 has granted one-time relaxation on the procedural requirements for listed entities with respect to open offers and buyback tender offers opening up to till July 31, amid the coronavirus pandemic. The Service of the letter of offer, tender form and other […]
RBI extends Interest Equalization Scheme on Pre and post-shipment rupee export credit till 31st March 2021
The Reserve Bank of India vide its notification dated 13th May 2020 has extended the Interest Equalization Scheme for pre and post-shipment Rupee export credit with the same coverage for one more year which is valid up to 31st March 2021.
The state government of Gujarat rescinds its earlier applicability on contract labour Act
The Labour and employment department of Gujarat vide its notification dated 13th May 2020 has notified that the contract labour (regulation and abolition) Act 1970 shall be applicable only to establishments and contactors employing twenty or more workmen.
IRDAI has granted additional time for filing quarterly return.
The Insurance Regulatory and Development Authority of India in its circular dated 13th May 2020 has granted additional time of one month to file the quarterly returns for the quarter ending 31.3.2020.
CBIC has clarified that the incidence of NCCD to be factored for calculation of Brand Rate of Duty Drawback
The Central Board of Indirect Taxes and Customs vide its notification dated 12th May 2020 has clarified that the incidence of National Calamity Contingent Duty (NCCD) where applicable, must be a factored in the calculation of Brand Rate of duty drawback.
CBDT Notifies reduction in the rate of TDS and TCS
The rate of TDS ranges between 1% and 30% depending on the source of income, while the rate of TCS ranges between 0.10% and 5%
SEBI further extends timelines for trading members / clearing members
The extensions are in furtherance of the relaxations in timelines for compliance with various regulatory requirements by the trading members / clearing members, provided vide prior circulars.
Economic Stimulus Package Part 3 announced by the Finance Minister
Recalling the Prime Minister’s Nation Wide Address on 12th May 2020, the Finance Minister announced the Part 3 of the Economic Stimulus Package focused on Supply Chain reforms in Agriculture, Animal Husbandry, fisheries and Allied Activities. 11 measures were announced in support of Agriculture, where 8 were on infrastructure, building logistics, storage capacities, and the rest 3 on Governance and Administrative reforms.
CBIC has brought onboard e-SANCHIT App one more PGA namely Registrar of Newspapers of India (RNI) with its LPCOs
The Central Board of Indirect Taxes & Customs) vide circular dated 14th May, 2020 has brought onboard e-SANCHIT App one more PGA namely Registrar of Newspapers of India (RNI) with its LPCOs.
