Annual Budget for the Financial Year 2023 – 2024
The budget focuses on three things: first, facilitating ample opportunities for citizens, especially the youth, to fulfill their aspirations; second, providing strong impetus to growth and job creation; and third, strengthening macro-economic stability.
FSSAI urges compliance with Standards for Non-Carbonated Water Based Beverage
The present notification urges all regional directors to scrutinise licences granted for Non-Carbonated Water Based Beverage (Non-Alcoholic). It has been reiterated that Non-Carbonated Water Based Beverage (Non-Alcoholic) containing water must conform to the standards prescribed for packaged drinking water or mineral water. These shall also contain specified ingredients solely or in combination.
BSE urges every listed company to maintain public shareholding of at least 5% in implementation CIRP approved resolution plan
The Bombay Stock Exchange (BSE) has issued a circular emphasising that every listed company must maintain public shareholding of at least five per cent as a result of implementation of the approved resolution plan during Corporate Insolvency Resolution Process (CIRP). All listed companies / RPs must take all requisite steps to modify the resolution plans to ensure compliance.
Central Electricity Authority (Flexible Operation of Coal based Thermal Power Generating Units) Regulations, 2023
The regulations will apply to all coal based thermal power generating units owned or under the control of the Central Government, State Governments, or owned by any private company, connected with the grid and to the load despatch center. These regulations were issued on 30th January, 2023 and are effective from the same date.
BSE explains the Applicability of Two-Factor Authentication
Trading Members and Participants registered on New Debt Segment – Reporting, Settlement and Trading (NDS-RST) Indian Corporate Debt Market (ICDM) platform must take note of this 2 Factor Authentication. This 2FA is mandatory and will apply to all NDS-RST (ICDM) platform users from 1st February, 2023.
Govt. of Kerala mandates Registration of Infertility Clinics
The notification states that registration is mandatory for private/government institutions to provide infertility treatment. Those institutions providing reproductive infertility services should take steps for immediate registration of their institutions. All relevant institutions shall get themselves registered through the National ART and Surrogacy Portal. The prescribed registration fee would be payable to the specified account in the name of the Appointed Authority.
Governor of Tamil Nadu clarifies on exemption from prescribed state tax of intra-State supply of services by way of renting of residential dwelling for use as residence
The notification clarifies that this exemption covers services by way of renting a residential dwelling to a registered person in specified circumstances. The notification also omits the exemption that was previously extended to services by way of access to a road or a bridge on payment of toll charges
DGFT amends Conditions of SION for Wheat Flour Export
The notification states that Advance Authorisation (AA) will be issued to flour millers. Exporters which have tie ups with flour millers will be issued AA as supporting manufacturers. Moreover, wheat flour (atta) can be exported only under the Advance Authorization Scheme. This is subject to the pre-import condition of wheat under the notified SION only.
CBITC revises Tariff Values for Certain Goods
With the exception of areca nuts, whose tariff value remains unchanged, all other goods described in the notification have undergone a revision in their tariff values. Additionally, the tariff values of Crude Soya bean Oil and Brass Scrap (all grades) have undergone a considerable increase.
