Extended compliance period for large corporates who have issued debt securities to the extent of 25% of their incremental borrowings in a financial year
It has been decided that the contiguous block of two years over which large corporates need to meet the mandatory requirement of raising minimum 25% of their incremental borrowings in a financial year through issuance of debt securities will be extended to a contiguous block of three years (from the present requirement of two years) reckoned from FY 2021-22 onwards.
PCI clarifies on the Appeal Process for New Institutions
The Pharmacy Council of India (PCI) has issued a clarification on the appeal process for new institutions whose applications were rejected. If the EC has rejected any application, the institution can prefer an appeal and submit compliance or representation.
Revised Custom Duty Exemptions in Excess of Standard Rates
The notification also extends the exemption to a new category of goods, ‘Drugs, Medicines or Food for Special Medical Purposes (FSMP) used for treatment of rare diseases specified in List 38.’ The notification substitutes the terms “drugs or medicines” with “Drugs, Medicines or Food for Special Medical Purposes (FSMP)”.
Health Cess Exemption on Import of Goods for X-ray Machines
The present notification amends the previous notification dated 2nd February, 2020 issued by the Ministry. The notification enumerates the list of goods imported for manufacture of x-ray machines that will be exempted from health cess.
CBDT extends partial relaxation of electronic submission of Form 10F
To mitigate the genuine hardship being faced by exempted taxpayers, it has been decided by the competent authority to extend the partial relaxation further till 30th September, 2023.
Computerized Multipurpose Primary Agricultural Credit Cooperative Societies (MPACS) to be launched in Uttarakhand
Government is making National Cooperative University, National Cooperative Policy and Cooperative Database and that Multistate Cooperative Societies have been formed for seeds, marketing of organic farming and export of farmers’ produce and computerized Multipurpose Primary Agricultural Credit Cooperative Societies (MPACS) in Uttarakhand.
BSE issues Standard Operating Process under SEBI(PIT) Regulations, 2015 for ensuring compliance with Structured Digital Database (“SDD”)
The listed entities are advised to take a note that the listed entities to whom the provisions of Regulation 24A of SEBI(LODR) Regulations, 2015 are not applicable, are required to continue to submit SDD Compliance certificate on quarterly basis, within 21 days from end of each quarter.
Safety Glass (Quality Control) Amendment Order, 2023
The amendment order states that the Safety Glass (Quality Control) Order, 2020 shall not apply to import of safety glass by a vehicle manufacturer for manufacturing up to ten thousand vehicles manufactured in India per financial year,
DPIIT invites comments on Draft QCOs
The Department for Promotion of Industry and Internal Trade (DPIIT) has invited comments on Rubber Flooring Materials (Quality Control) Order, 2023 and Linoleum Sheets and Tiles (Quality Control) Order, 2023.
Govt. of Gujarat revises Minimum Wages
This revision of minimum wages will apply to skilled, semi-skilled and unskilled employees. The revision shall come into effect from the 1st April, 2023.
