Implications of Government’s Declaration on Iron Ore Mining
In the interest of public welfare, the Central Government has extended the classification of iron ore mining services as a public utility under the Industrial Disputes Act, 1947.
Parliamentary Elections: NSE Trading Pause on May 20, 2024
National Stock Exchange of India Limited Circular Department: Debt Segment Download Ref No: NSE/DS/61603 Date: April 15, 2024 Circular Ref. No.: 08/2024 To All Members and Participants: Trading Holiday on May 20, 2024, due to Parliamentary Elections In partial amendment to Exchange circular download reference no. NSE/DS/59958 dated December 27, 2023, the Exchange hereby declares Monday, May 20, 2024, as a trading holiday due to Parliamentary Elections in Mumbai.
Foreign Exchange Management (Non-debt Instruments) (Third Amendment) Rules, 2024
The amendment provides the revised caps for foreign investment through automatic route in the Space Sector.
RBI draft circular to provide clarity on several key aspects of PA regulation
The circulars also address the net worth requirement for PAs, emphasizing the importance of maintaining adequate financial strength to support their operations. This requirement is applicable on an ongoing basis, highlighting the need for financial stability in the payment aggregation space.
Draft Regulation of Payment Aggregators – physical Point of Sale
Non-bank entities offering PA-POS services are required to seek authorization from the RBI within a specified timeline. Existing entities must intimate their intention to seek authorization within 60 days of the circular’s issuance and apply for authorization by a designated deadline. Non-bank PAs authorized for online transactions are also required to seek approval from the RBI to continue their PA-POS activities.
CBDT signs record number of 125 Advance Pricing Agreements (APAs) in FY 2023-24
The APA Scheme endeavours to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and determining the arm’s length price of international transactions in advance for a maximum of five future years. Further, the taxpayer has the option to rollback the APA for four preceding years, as a result of which, tax certainty is provided for nine years. The signing of bilateral APAs additionally provides the taxpayers with protection from any anticipated or actual double taxation.
Medical Colleges Must Report Intern and Resident Stipend Details
The National Medical Commission (NMC) has directed all medical colleges and healthcare institutions to submit details of stipends paid to interns and resident doctors. Details of Stipend paid to UG Interns,
PG residents and Senior Residents or PGs in Super Specialty must be submitted by Medical College / Medical Institutions by April 23, 2024.
A Change in Holiday Schedule: Chhattisgarh Government’s Amendment for Ram Navami
The Chhattisgarh Government has issued a notification amending the date of the public holiday for the “Ram Navami” festival in 2024. The change, announced under the Negotiable Instruments Act, 1881, underscores the government’s commitment to honouring cultural traditions while ensuring smooth functioning of public services.
Press Council of India Issues Media Guidelines for Election Coverage
The Press Council of India has issued comprehensive media guidelines for the press to follow during elections, emphasizing the importance of unbiased and objective reporting. The guidelines aim to prevent the spread of communal or caste-based campaigning, the publication of false or critical statements about candidates, and the acceptance of inducements or hospitality from any candidate or party.
Authorities Urge Caution On Sale Of Meropenem 1gm + EDTA for Injection
DSCO has stated that Meropenem 1gm + EDTA for Injection has not been officially approved for manufacturing or marketing in India and is classified as a “New Drug” under Indian regulations.
