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Archive: March, 2018

Posts in March, 2018

Extension of IGST and Compensation Cess exemption under Advance Authorisation and EPCG scheme

March 22, 2018 2991 Views 0 comment Print

Amendments to Foreign Trade Policy 2015-2020 – Extension of Integrated and Goods and Service Tax (IGST) and Compensation Cess exemption under Advance Authorisation and EPCG scheme till 01.10.2018.

Critical issues under Companies (Amendment) Act, 2017

March 22, 2018 6690 Views 0 comment Print

Total share capital includes both equity and preference share capital. While preference shareholders does not have any voting rights, its not logical to include them for the purpose of ascertaining associate company. So, now associate company will be decided based on total voting power in stead of total share capital.

SEBI Circular on Prevention of Unauthorized Trading by Stock Brokers

March 22, 2018 4683 Views 0 comment Print

The Brokers are required to maintain the records specified at Para III above for a minimum period for which the arbitration accepts investors’ complaints as notified from time to time currently three years. However in cases where dispute has been raised, such records shall be kept till final resolution of the dispute.

IBBI invites comments on draft syllabus of Limited Insolvency Examination

March 22, 2018 981 Views 0 comment Print

Insolvency and Bankruptcy Board of India invites comments on the draft syllabus of Limited Insolvency Examination. The comments and feedback may please be mailed at exam@ibbi.gov.in latest by 15th April, 2018.

MCA notifies norms for appointment of Chairperson & members of NFRA

March 21, 2018 2454 Views 0 comment Print

These rules may be called The National Financial Reporting Authority NFRA (Manner of Appointment and other Terms and Conditions of Service of Chairperson and Members) Rules, 2018.

Due diligence and reporting requirements under FATCA and CRS

March 21, 2018 2307 Views 0 comment Print

SEBI has informed all intermediaries regarding due diligence and reporting requirements under Rules 114F to 114H of the Income- tax Rules (hereinafter referred as Rule) and Guidance Note on FATCA and CRS issued by the CBDT, New Delhi, vide F.No.500/137/2011-FTTR-III dated August 31, 2015

Amendment in import policy of pepper

March 21, 2018 2055 Views 0 comment Print

Import of pepper over and above CIF Rs. 500/ per kilogram is free and import below CIF Rs. 500/ is prohibited. Amendment in import policy and policy condition of pepper classified under Chapter 09 of ITC (HS), 2017–Schedule-1(Import Policy).

SEBI Risk Management norms for commodity derivatives

March 21, 2018 978 Views 0 comment Print

SEBI has issued various circulars from time to time prescribing risk management norms for commodity derivatives exchanges. Post the transfer of clearing and settlement functions from commodity derivatives exchanges to Clearing Corporations, Clearing Corporations shall be required to comply with all such norms.

MCA notifies Provisions related to appointment of Chairperson and Members of NFRA wef 21.03.2018

March 21, 2018 8004 Views 0 comment Print

In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act, 2013 (18 of 2013), the Central Government hereby appoints the 21st March, 2018 as the date on which the provisions of sub­-sections (3) and (11) of section 132 of the said Act shall come into force.

Income from share transaction on daily basis is business Income

March 21, 2018 1311 Views 0 comment Print

Smt. Anju Gaggar Vs. ACIT (ITAT Hyderabad) During the relevant financial year, there were repeated purchase of same scrip and sale thereof immediately, almost on daily basis to take advantage of the market fluctuations. Further that, records of the broker clearly revealed that she had no intention to make investments for long periods. Hence, income […]

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