"25 March 2022" Archive

Delhi Municipal Corporation (Amendment) Bill, 2022 introduced in Lok Sabha

Bill No. 92 of 2022 25/03/2022

The main objective of trifurcation of the erstwhile Municipal Corporation of Delhi was to create compact municipalities at various centres in Delhi in the interest of providing more efficient civic services to the public. However, trifurcation of the erstwhile Municipal Corporation of Delhi was uneven in terms of territorial divisions and...

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RBI Framework for Geo-tagging of Payment System Touch Points

RBI/2021-22/187 CO.DPSS.OVRST.No.S1738/06-08-018/2021-2022 25/03/2022

In recent years, the payments ecosystem in India has witnessed rapid developments with a bouquet of payment systems, platforms, products and services available for consumers. Reserve Bank of India (Reserve Bank, Bank) is focused on deepening of digital payments and providing inclusive access to all citizens of the country, irrespective of...

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Review of determination of Offer Price in case of disinvestment of PSU Companies

The objective of this consultation paper on Review of determination of Offer Price in case of disinvestment of PSU Companies is to seek comments from the public on the proposal to relax certain provision with regard to determination of open offer price in case of divestment of Public Sector Undertaking companies by the Central Government ...

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Posted Under: Corporate Law |

Streamlining the Timelines followed in Open Offers & Buy-back Tender Offers

The proposed changes in the timelines of procedural activities would help reduce the overall time taken for completion of Open Offer from 62 working days to 42 working days and overall time for completion of Buyback from 43 working days to 36 working days, which would be investor-friendly and make the process more efficient....

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Posted Under: Corporate Law |

DGTR recommended Anti Dumping Duty on 30 Chinese Products

Anti Dumping Duty On Chinese Products The Central Government (Department of Revenue, Ministry of Finance), on the basis of the recommendations of the Directorate General of Trade Remedies (DGTR), Department of Commerce, has imposed  anti-dumping duty for five years on five Chinese products recently namely certain flat rolled products of ...

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Posted Under: Corporate Law |

Job Creation Under Make In India

The 'Make in India' initiative was launched on 25th September, 2014 to facilitate investment, foster innovation, build best in class infrastructure, and make India a hub for manufacturing, design, and innovation. It is one of the unique 'Vocal for Local' initiatives that promoted India's manufacturing domain to the world....

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Posted Under: Corporate Law |

Basic custom duty on umbrellas raised from 10% to 20%

Whether it is true that duty on umbrellas is being raised to 20 per cent and exemption to parts of umbrellas is being withdrawn and whether exemption is also being rationalised on implements and tools for agri-sector which are manufactured in India ...

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Posted Under: Corporate Law |

GST Rates on Diamonds and Life Saving Medicines

GST rates on all goods including Life Saving Medicines are prescribed on the recommendations of GST Council. A large number of lifesaving medicines are already at the lower rate of 5%. Others attract 12% GST rate....

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Posted Under: Corporate Law |

Many State Govts requested for extension of GST compensation payment period

Whether the Government has received proposals from the State Governments requesting for extension of payment of Goods and Services Tax(GST) compensation to the States for another five years keeping in view the difficulties caused by Covid-19 Pandemic...

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Posted Under: Corporate Law |

State and year-wise details of GST compensation given from 2017

As per Section 7 of the GST (Compensation to States) Act, 2017, the States are required to be compensated for loss of revenue due to implementation of GST (w.e.f. 01.07.2017) for 5 years’ period. During transition period, the States’ revenues are protected at 14% growth rate per annum over the base year revenue (2015-16). Accordingly,...

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Posted Under: Corporate Law |

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