RBI Grants Approval for Acquiring Financial Assets of ARCs

The financial market regulator, Reserve Bank of India (RBI) on June 28, 2019 has permitted acquiring of financial assets of Asset Reconstruction Companies (ARCs) with certain conditions. The RBI has approved the scheme in the …

Services of the industry engaged in Food Stuffs declared to be a public utility service

The ministry of Labour And Employment vide a notification dated 9th July, 2019, has declared the services of the industry engaged in Food Stuffs (covered under item 6 of the First Schedule to the Industrial …

The Central Board of Excise and Customs Introduces eSANCHIT to Commissioners

CBIC released a circular on 16th July, 2019 to notify the implementation of eSANCHIT processing application among the Principal Chief Commissioners and the Chief Commissioners of Customs, Customs & Central Taxes and Customs (Preventive). The …

Central Goods and Services Tax (Fourth Amendment) Rules, 2019 are notified by CBIC

The Central Goods and Services Tax (Fourth Amendment) Rules, 2019 seeks to insert a new regulation i.e. Regulation 10A which require every registered person to furnish his bank account details or any other detail as …

Clarification on payment under Income Disclosure Scheme, 2016

CBDT has released a clarification on certain procedural issues under section 195 of the Income Disclosure Scheme, 2016 regarding payment of third installment under the Scheme. Due date for payment of third installment was 30th …

Food Safety and Standards (Prohibition and Restriction on sales) First Amendment Regulations, 2019

As per the Food Safety and Standards (Prohibition and Restriction on sales) First Amendment Regulations, 2019, use of Diacetyl as flavoring substance in oils and fats has been restricted.

FSSAI Introduces Special Drive for Licensing and Registration of Food Businesses

FSSAI has launched a special drive for licensing and registration of FBOs, on 1st July 2019, to check non-compliance of the existing FBOs. The drive will be operating in two phases. Initiating inquiry from 1st …

Food Safety and Standards (Laboratory and sample Analysis) Amendment Regulations, 2019

Draft Food Safety and Standards (Laboratory and sample Analysis) Amendment Regulations, 2019 in relation to the approval of Rapid Analytical Food Testing (RAFT) kit, equipment or method, has been published by FSSAI. The approval for …

Government extends date for filing GSTR-1 from July to September

The Government on June 28, 2019 has notified extension of date for filing Form GSTR-1. A registered person, having an aggregate turnover of more than 1.5 crore rupees in the preceding financial year or in …

GSTR-9 and 9C exempted for Suppliers of Online Information Database Access and Retrieval Services

The Central Government has granted exemption under CGST Act in filing Form GSTR-9 and Form GSTR-9C in its latest notification dated June 28, 2019 for suppliers of Online Information Database Access and Retrieval Services. The …