MCA clarifies issue on the extension of AGM 2020
MCA vide general circular No 28/ 2020 dated 17 August 2020 has clarified that the matter on holding of AGM in these COVID-19 times has already been considered by MCA, while granting relaxation in holding physical meeting, and allowing companies to conduct AGMs for the Financial Year ended 31 March 2020 through Video Conferencing (VC) or Other Audio Visual Means (OAVM). Therefore, if any company is still unable to hold its AGM by 30/09/2020 it shall seek extension of time – upto 3 months by applying to ROC in Form GNL-1 on or before 29/09/2020. ROC has been advised to be liberal in granting such extensions considering the hardships faced by the stakeholders.
Karnataka announces a new Industrial Policy 2020-2025
Some of the key strategies adopted by the Industrial Policy include, promotion of sustainable, balanced and inclusive industrial growth;
employment generation and increase in labour market flexibility; strategic tie-ups for enhancement of knowledge and R&D Hub; and development and promotion of MSME Sectors. Additionally, the Policy provides incentives and concessions for MSMEs, Private Industrial Parks and other specified eligible Manufacturing Enterprises. The policy also focuses on skill development, inclusive of on-the-job training and development programmes.
The Ministry of Food Processing Industries will now accept only online applications under SHIRSD
The Ministry apprises the public that it has developed and operationalised a portal for online submission of applications under the Scheme of Human Resources and Institution –Skill Development (SHRISD). The Scheme is open to applicants wishing to avail of grants under the scheme. Prior to this notice, the applications were accepted offline. However the Ministry now makes it abundantly clear that applications under the scheme can only be made online and it provides a link to the said application form.
The Government of Goa notifies the Goa Motor Vehicles (Amendment) Rules, 2020
This Amendment stipulates that as far as the procedure for transfer of permit is concerned, the concerned authorities will be Regional Transport Authority or State Transport Authority. Prior to this Amendment, the Rules only contemplated the Regional Transport Authority as the prescribed authority for the purpose of transfer of permits.
CBDT issues new taxpayers charter.
The Taxpayer charter lays down the fundamental rights of taxpayers and the basic standards of services that they should expect. The charter will aim to change the relationship between taxpayers and the tax department from being an enforcer to a facilitator.
The Special Warehouse (Custody and Handling of Goods) Amendment Regulations, 2020.
The manufacture and other operations in relation to goods in a warehouse are not applicable under the Special Warehouse (Custody and Handling of Goods) Amendment Regulations, 2020.
The Manufacture and Other Operations in Special Warehouse Regulations, 2020.
The Regulation shall be applicable to units that operate under section 65 of the customs Act and units applying for permission to operate warehouse.
The Income-tax (20th Amendment) Rules, 2020.
The Amendment is brought under rule 2DB which specifies the conditions to be satisfied by the pension fund.
IRDAI grants relaxation for submission of hard copy of regulatory returns.
Life insurers shall upload the Regulatory Returns through the BAP module without physical filing and submit a soft copy through email to Mr. S.N Jayasimhan, GM at snjayasimhan@irdai.gov.in , for returns up to 31st March 2020.
The Governor of Haryana issues the Punjab Excise Fiscal (Haryana Second Amendment) Orders, 2020
The Amendment Orders introduce a COVID Cess on the sale of different categories of liquor. This cess is applicable from 6th May, 2020. Furthermore, the amendment also revises the excise duties on alcohol of various categories that are supplied to defence personnel. These duties are applicable from 1st April, 2020. The Amendment is seen to have enhanced prior excise duties minimally.
