In order to introduce Phase 1 of Faceless Assessment at Bengaluru and Chennai from 8th June 2020 for imports primarily made under Chapters 84 and 85 of the Customs Tariff Act, 1975 at these Customs stations, Board has issued two notifications, as follows:
Insolvency Professionals to act as Interim Resolution Professionals (IRPs), Liquidators, Resolution Professionals (RPs) and Bankruptcy Trustees (Recommendation) Guidelines, 2020 2nd June, 2020 Corporate Insolvency The Insolvency and Bankruptcy Board of India (Board) is required under the Insolvency and Bankruptcy Code, 2016 (Code) to recommend name of an Insolvency Professional (IP) for appointment as Interim Resolution […]
SEBI now has decided to introduce a framework for Regulatory Sandbox. Under this sandbox framework, entities regulated by SEBI shall be granted certain facilities and flexibilities to experiment with FinTech solutions in a live environment and on limited set of real customers for a limited time frame. These features shall be fortified with necessary safeguards for investor protection and risk mitigation.
No Mutual fund schemes shall invest in physical goods except in ‘gold’ through Gold ETFs. However, as mutual fund schemes participating in ETCDs may hold the underlying goods in case of physical settlement of contracts, in that case mutual funds shall dispose of such goods from the books of the scheme, at the earliest, not exceeding the timeline prescribed below
Director-General of Anti-Profiteering Vs Lifestyle International Pvt. Ltd. (NAA) Facts of the case: The brief facts of the case are that an application dated 23.11.2017 was filed before the Standing Committee on Anti-profiteering under Rule 128 of the CGST Rules, 2017, by Ms. Neeru Varshney before the Standing Committee vide which she alleged that the […]
CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 05.06.2020 vide Notification No. 49/2020-Customs (N.T.), Dated: 4th June, 2020. Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) ***** Notification No. 49/2020-Customs (N.T.) New Delhi, dated the 4th June, 2020 14 Jyaishtha 1942 (SAKA) In […]
IRDAI warned IFFCO Tokio General Insurance Company Limited for furnishing wrong information under different lines of health insurance business and for delayed submission of health returns for FY 2018-19.
IRDA clarified that time limit for ensuring compliance with directions regarding Public Disclosures on websites by insurers for the period ending 31st March 2020 is also extended by 30 days.
AIFs and VCFs may submit the regulatory filings for the months ending March, April, May and June 2020, as applicable, on or before August 07, 2020.
Keeping in view the present COVID 19 situation RBI extends the timeline for compliance in respect of a few areas under Section 10(2) read with Section 18 of Payment and Settlement Systems Act, 2007.
