RBI revises definition of Micro, Small and Medium Enterprises
The amendment clarifies that existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAMs) of the MSMEs obtained till June 30, 2020 shall remain valid till December 31, 2021.
RBI clarifies about public document issued on ‘High-Risk Jurisdictions subject to a Call for Action’
The Financial Action Task Force (FATF), vide public document ‘High-Risk Jurisdictions subject to a Call for Action’ dated June 25, 2021, has called on its members and other jurisdictions to refer to the statement on these jurisdictions adopted in February 2020.
Revised compendium on ‘channel of submission and level of final disposal of cases’
The Ministry of Environment, Forest and Climate Change through circular dated 18 June, 2021 has updated the compendium on ‘channel of submission and level of final disposal of cases’. Division heads are also requested to expedite the channel of submission and level of final disposal of cases.
Guidelines for Technical Standards for the Performance of Core Services and Other Services under the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017
The Insolvency and Bankruptcy Board of India has issued Guidelines for Technical Standards for the Performance of Core Services and Other Services under the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017. An Information Utility shall follow the guidelines for Registration, Identification and Verification of Users.
RBI issues Guidelines for Managing Risk in Outsourcing of Financial Services by Co-operative Banks.
The co-operative banks shall consider all relevant laws, regulations, guidelines and conditions of approval, licensing or registration when performing its due diligence in relation to outsourcing.
CBIC issues clarification on Applicability of Dynamic QR Code on B2C Invoices.
The Board has clarified that the Dynamic QR Code is required for invoices issued to holders of Unique Identity Number (UIN) as they do not classify as ‘registered persons’ under GST.
The Central Motor Vehicles (Draft Amendment) Rules, 2021.
Through this draft amendment the compatibility of vehicle to level of ethanol blend of E12 or E15 or E20 or E85 or E100 shall be defined by the vehicle manufacturer and the same shall be displayed on vehicle by putting a clearly visible sticker.
DGFT amends the import policy of Potatoes.
The Import of Potatoes from Bhutan is permitted freely, without any license, up to 30th June, 2022.
