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Notifications/Circulars

Companies (Compromises, Arrangements & Amalgamations) Amendment Rules, 2022

May 30, 2022 5709 Views 0 comment Print

MCA notifies Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2022 and inserted new sub-rule (3) to Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 and New FORM NO. CAA.16 related to Declaration in terms of Rule 25A. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th May, 2022 G.S.R. 401(E).—In exercise of the powers conferred by […]

Manual processing of declarations filed by co-noticees under SVLDR Scheme

May 30, 2022 2148 Views 0 comment Print

CBIC instruction on Manual processing of declarations filed by the co-noticees under Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Upload e-BRC by 15.07.2022 for shipping bills on which RoSCTL scrip been availed

May 30, 2022 2283 Views 0 comment Print

As per RBI guidelines, it is expected that all shipping bills upto 31.12.2020 would have their export proceeds realized by now. Accordingly, all exporting firms, who have been issued scrips under RoSCTL for exports / shipping bills upto 31.12.2020, are requested to get the relevant e-BRCs uploaded in the DGFT server by their AD banks latest by 15.07.2022 failing which action as per para 4.96 of HBP, as notified vide PN 58 dated 29.01.2020 would be initiated by the jurisdictional RAs.

Export of Wheat- RAs will do physical verification of all LCs

May 30, 2022 690 Views 0 comment Print

Henceforth all RC applications found eligible for approval after physical verification of the LCs by the RAs, would be sent to a 2 member committee of Addl DGFTs constituted in DGFT (Hqrs) for further checking and approval.

Processing of ASBA applications in Public Issue of Equity Shares & Convertibles

May 30, 2022 1161 Views 0 comment Print

The processing of ASBA applications in the Public Issues by market intermediaries and SCSBs has been reviewed. As a part of the continuing efforts to further streamline the bidding process and to ensure the orderly development of securities market, a need has been felt to implement the ASBA process in line with the aforementioned circulars.

Modification in Cyber Security & Cyber resilience framework of KRAs

May 30, 2022 849 Views 0 comment Print

KRAs are mandated to conduct comprehensive cyber audit at least twice a financial year. All KRAs shall submit a declaration from the MD/ CEO certifying compliance by the KRAs with all SEBI Circulars and advisories related to Cyber security from time to time, along with the cyber audit report.

Weekly newsletter from Chairman, CBIC dated 31/05/2022

May 30, 2022 933 Views 0 comment Print

I would like to reiterate a message that bears repetition till we have internalized it fully viz. that as an organization, we stand for zero-tolerance for behavior that in any manner compromises our integrity or our professional excellence.

Section 8 companies cannot change objects to include Micro Finance/Credit

May 30, 2022 7389 Views 0 comment Print

Micro Finance/Micro Credit as an object in Object Clause of Memorandum of Association (MoA) of Section 8 companies not allowed

CBDT notifies Income-tax Authority for section 143(2) notice

May 28, 2022 11052 Views 0 comment Print

CBDT authorises Assistant Commissioner of Income Tax/ Deputy Commissioner of Income Tax (International Taxation), Circle -1(1)(1), Delhi to act as the ‘Prescribed Income-tax Authority’ for the purpose of issuance of notice under sub-section (2) of section 143 of the Act. MINISTRY OF FINANCE Department of Revenue Central Board of Direct Taxes New Delhi. Notification No. […]

Faceless Penalty (Amendment) Scheme, 2022- Reg.

May 27, 2022 2184 Views 0 comment Print

National Faceless Penalty Centre, in accordance with the guidelines issued by the Board, may,–– (a) in a case where imposition of penalty has been proposed, convey to the penalty unit to pass the penalty order as per penalty imposition proposal referred to in sub-clause (a) of clause (xv)

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