Anti-dumping investigation on imports of Phthalic Anhydride initiated

F. No. 6/16/2020-DGTR. / Case No. ADD-(OI)-13/2020 (21/05/2020)

Initiation of anti-dumping investigation concerning imports of Phthalic Anhydride (PAN) originating in or exported from China PR, Indonesia, Korea RP and Thailand....

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Anti-dumping investigation on imports of Polyester Yarn/Spun Yarn

F.No. 6/10/2020-DGTR.—1 / Case No. ADD-(OI)-09/2020 (21/05/2020)

Initiation of Anti-dumping investigation concerning imports of Polyester Yarn (Polyester Spun Yarn) from China PR, Indonesia, Nepal and Vietnam....

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SEBI Review of Post-Default Curing Period for CRAs

Circular No. SEBI/HO/MIRSD/CRADT/CIR/P/2020/87 (21/05/2020)

It has been noted in a few recent cases of defaults that even though the rated entity was able to correct the default within a relatively shorter span of time, the rating could not be upgraded and continued to be under sub-investment grade due to the extant provisions on post-default curing period of 90 days for the rating to move from de...

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Section 269SU not applicable to specified person having only B2B transactions

Circular No. 12/2020-Income Tax (20/05/2020)

It is hereby clarified that the provisions of section 269SU of the Act shall not he applicable to a specified person having only B2B transactions (i.e. no transaction with retail customer/consumer) if at least 95% of aggregate of all amounts received during the previous year, including amount received for sales, turnover or gross receipts...

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CBDT issues important directives on Safe Harbour Rules

Notification No. 25/2020-Income Tax/G.S.R. 304(E) (20/05/2020)

The CBDT has issued Notification No. 25 of 2020 dated 20 May 2020, wherein it has notified the year of applicability of the ‘Safe Harbour Rules for International Transactions’ (SHR) for Assessment Year (AY) 2020-21, as the existing rules were applicable only up to AY 2019-20. The said notification are applicable from 1 April 2...

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ESI Rules Amended To Allow Maternity Benefits For Commissioning & Adoptive Mother

Notification No. N-12/13/1/2016-P&D (20/05/2020)

ESIC has issued a notification by which it notified Employees’ State Insurance (General) (First) Amendment Regulations, 2020 and inserted Regulation 87A : Notice of Commissioning Mother, Regulation 88A: Declaration by Insured Women of her surviving child or children, Regulation 89C : Claim for Maternity Benefit by Commissioning Mother,...

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Employees’ State Insurance (General) (Second) Amendment Regulations, 2020

Notification No. N-12/13/01-2019-P&D (20/05/2020)

Employees’ State Insurance (General) (Second) Amendment Regulations, 2020 A member of local committee shall cease to be a member of the committee if he fails to attend three consecutive meetings thereof provided that his membership may be restored by the Regional Director, on being satisfied as to the unavoidable nature of the circumsta...

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SEBI Advisory on disclosure of material impact of Covid–19 pandemic

Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/84 (20/05/2020)

Advisory on disclosure of material impact of CoVID–19 pandemic on listed entities under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘LODR Regulations’/‘LODR’)...

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Requirement of Veterinary Certificate for Import of Milk and Milk Products into India

Instruction No. 06/2020-Customs (20/05/2020)

Compulsory veterinary certificate issued by Competent Authority of exporting country is not being insisted upon by field formations in consignments of dairy products (including edible lactose)....

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Listing of Mutual Fund schemes that are in the process of winding up

Circular No. SEBI/HO/IMD/DF3/CIR/P/2020/086 (20/05/2020)

As per MF Regulations, there are several steps envisaged with respect to winding up of Mutual Fund schemes before the scheme ceases to exist. During this process, such units can be listed and traded on a recognized stock exchange, which may provide an exit to investors....

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