SEBI publishes Risk Management Framework (RMF) for Mutual Funds.

The framework will be effective from January 01, 2022, and asset management companies (AMCs) must perform a self-assessment of their RMF and practices and come up with a roadmap for implementation of the framework.

Clarification on issue duty credit for goods exported under the Scheme for Rebate of State and Central Taxes and Levies

The value of the said goods for calculation of duty credit to be allowed under the Scheme shall be the declared export FOB value of the said goods or up to 1.5 times the market …

Reforms to boost Industrial Safety in Petroleum and Explosives Sector

These reforms will help to transport Liquid Oxygen from surplus areas to deficit areas and promote multimodal transportation (by road, rail and waterways) of these gases and reduce the transportation cost as well as time.

The Petroleum and Natural Gas Regulatory Board (Third Party Conformity Assessment) Amendment Regulations, 2021

The amendment provides that periodicity for verification of IMS documents shall be as specified in respective regulations. However, the periodic third-party audit under Integrity Management Regulations for City or Local Natural Gas Distribution (CGD) Networks, …

Central Electricity Regulatory Commission (Terms and Conditions of Tariff) (Second Amendment) Regulations, 2021

As per the amendment, the principal regulations shall apply in all cases where a generating company has the arrangement for supply of coal or lignite from the integrated mine(s) allocated to it, for one or …

Petroleum and Natural Gas Regulatory Board (Integrity Management System for Petroleum and Petroleum Products Pipelines) Regulations, 2021.

The regulation outline the basic features and requirements for developing and implementing an effective and efficient Integrity Management Plan (IMP) for Petroleum and Petroleum Products Pipeline system.

New BIS standards for equipment for conductive Charging of Electric Vehicles

BIS standard IS 17017 (Part 22/Sec 1) : 2021 shall be followed for Electric Vehicle Conductive Charging Systems, Charging Configurations and Charge Point for Light Electric Vehicle. BIS standard IS 17017 (Part 25) : 2021 …

Income-tax (25th Amendment) Rules, 2021

The Income-tax (25th Amendment) Rules, 2021 will come into force on 1st day of April, 2022.

New BIS standards for Quality Tolerances for Water for Storage Batteries

New BIS standards for Quality Tolerances for Water for Storage Batteries shall remain effective from 11 August 2021 till 10 February 2022.

Ministry of Power directs replacement of existing meters with smart meters with prepayment features for consumers other than agricultural consumers

All consumers (other than agricultural consumers) in areas with communication network, shall be supplied electricity with Smart Meters working in prepayment mode, conforming to relevant IS, as per Central Electricity Authority (Installation and Operation of …

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