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Notifications/Circulars

CBIC amends Notification No. 22/2003 & 23/2003 Central Excise dated 31.03.2003

April 26, 2023 1995 Views 0 comment Print

Seeks to amend Notification No. 22/2003 & 23/2003 Central Excise dated 31.03.2003 vide  Notification No 20/2023-Central Excise Dated: 26th April, 2023 MINISTRTY OF FINANCE (Department of Revenue) New Delhi Notification No 20/2023-Central Excise Dated: 26th April, 2023 G.S.R. 317(E).—In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, […]

IRDAI Information and Cyber Security Guidelines, 2023

April 25, 2023 13095 Views 2 comments Print

Revised Guidelines are hereby issued in order to enable the insurance industry to strengthen their defenses as well as related governance mechanism to deal with such emerging cyber threats.

Modifications in the requirement of filing of Offer Documents by Mutual Funds

April 25, 2023 861 Views 0 comment Print

SEBI decided that AMCs shall file all final offer documents (final SID and final KIM) only digitally by emailing the same to a dedicated email id. viz: imdsidfiling@sebi.gov.in and there would be no requirement of filing of physical copies of the same with SEBI.

SEBI Circular on Bank Guarantees (BGs) created out of clients’ funds

April 25, 2023 2166 Views 0 comment Print

The stock exchanges and clearing corporations shall take stock of the current position of the BGs issued out of clients’ funds by SBs/CMs and monitor the wind down to ensure implementation of the circular without any disruption of services to clients. For the purpose, stock exchanges and clearing corporations shall put in place periodic reporting mechanisms for SBs/CMs.

Advance Authorization ad-hoc norms validity extended to 31.03.2026

April 25, 2023 2469 Views 0 comment Print

Para 4.12(vi) of the Handbook of Procedures 2023 in respect of Advance Authorization issued under para 4.07 of HBP 2015-2020 has been amended to extend the validity of ad-hoc norms ratified from 01.04.2015 up to 31.03.2023, which shall now be valid up to 31.03.2026, for ease of doing business and reduction of transaction cost. Government […]

RBI reviews General Credit Card (GCC) Facility

April 25, 2023 2985 Views 0 comment Print

GCC Scheme shall henceforth be called General Credit Card (GCC) Facility.. The instructions shall apply to all banks which are eligible to issue credit cards under the above Master Direction.

Weekly newsletter from Chairman, CBIC dated 25/04/2023

April 25, 2023 930 Views 0 comment Print

I would urge officers of Mumbai Customs Zone – Ito continue working closely with the respective stakeholders so as to ensure that the project in completed in a timely manner.

Non-Appointment of CS – Penalty reduced on closely held private company

April 25, 2023 1218 Views 0 comment Print

Non-Appointment of CS – Penalty reduced on closely held private company and further imposing maximum penalty by the Registrar of Companies on the company, its Managing Director and other directors is harsh, burdensome on the Company.

Non-Appointment of CS – No penalty on non-executive director if company is having MD

April 25, 2023 804 Views 0 comment Print

Company is having a Managing Director and imposing penalty on non-executive director for Non-Appointment of CS should not have been made.

Non-Appointment of CS – MCA reduces penalty as all shareholders of Company are family members

April 25, 2023 681 Views 0 comment Print

Non-Appointment of CS – MCA reduces penalty as all shareholders of Company are family members, no public interest is involved.

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