CBIC issues FAQs on GST applicability on pre-packaged and labelled goods.
It has clarified that all pre-packaged items containing a quantity up to 25 Kg (or 25 litre), will attract 5 per cent GST. However, items, which are pre-packaged above 25 Kg, in a single packet will be exempt from GST.
FSSAI issues order on usage of the term “ORS” along with brand name.
FSSAI has earlier issued direction regarding misleading advertisement and marketing of ORS substitute products vide which the use of terms ‘ORS’ or similar to ‘oRS’, and/or depiction of the food products as ‘ORS’on the food labels or through advertisement was restricted and the Commissioners of Food Safety of all States/UTs and Central licensing Authorities were advised to issue improvement notices to such FBOs for rectification of such food labels.
Levy of Goods & Services Tax (GST) on the fees payable to SEBI.
This move has been taken after the GST Council last month recommended to withdraw the exemption granted to services by Sebi and the same was notified on July 13.
Maharashtra labour welfare fund contribution due date extended till 31st July 2022.
The Maharashtra Labour Fund is applicable to all establishments in the state which has employed more than 5 person and it includes employees employed through the contractor, except those working in the managerial or supervisory position and drawing wages more than Rs. 3,500/- per month.
Zero coupon zero principal instruments declared as securities under the Securities Contracts (Regulation) Act, 1956
It is further clarified that “zero coupon zero principal instrument” means an instrument issued by a Not for Profit organization which shall be registered with Social Stock Exchange segment of a recognized Stock Exchange in accordance with the regulations made by the Securities and Exchange Board of India.
Government of Andhra Pradesh publishes Consumer Protection (Direct Selling) Rules, 2021.
Every direct selling entity shall have a minimum of one physical location as its registered office within India and make a self-declaration to the effect that it has complied with the provisions of these and is not involved in any pyramid scheme or money circulation scheme.
Ministry of Finance notifies 7.1% as the rate of interest under the special deposit scheme.
The Special Deposit Scheme was launched with an aim to provide better returns to non-government provident funds, gratuity and superannuation funds, surplus funds of LIC, ESIC etc. The funds invested in SDS grow at the interest rate announced by the government. These funds also earn by investing in government securities and mutual funds.
Centre extends RoSCTL (Rebate of State and Central Taxes and Levies) scheme till March 31, 2024 for export of apparel/garments and made-ups.
The duty credit shall be issued against claim of duty credit under the Scheme made by an exporter by providing the appropriate declaration at the item level in the shipping bill or bill of export in the customs automated system.
IFSCA Banking Handbook Conduct of Business Directions- v 4.0.
The direction set out the framework for setting up and permitted activities for Global Administrative Office (GAO) in IFSC. Banking company incorporated in India or outside India and having an IBU or Representative Office (RO) in IFSC is also permitted to set up an GAO. The GAO shall be located in IFSC, but not on the same or contiguous premises as its IBU, unless specifically permitted by the Authority.
NSE has notified a new module for filing of information required under Regulation 46 and 62 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on NEAPS.
As per Regulation 46 and Regulation 62 of Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulation, 2015 (“Listing Regulation”), the listed entities are required to maintain a functional website containing basic information about the Company.
