Corporate Law Reporter: "MCA extends date for Condonation of Delay Scheme, 2018 till 1st May 2018" and 1 more

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MCA extends date for Condonation of Delay Scheme, 2018 till 1st May 2018 Posted: 27 Apr 2018 06:38 AM PDT General Circular No. 03/2018 F.No.02/04/2017-CL-V GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS 5th Floor, 'A' Wing Shastri Bhawan, Dr. R.P. Road, New Delhi Dated: 27.04.2018 To, All Regional Directors, All Registrars of Companies, All Stakeholders. Subject: Condonation of Delay Scheme, 2018.  Sir, In continuation to the Ministry's General Circular No. 16/2017 dated 29/12/2017 and General […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

GST Revenue Collections for the Financial Year 2017-18 Posted: 27 Apr 2018 06:38 AM PDT Total Revenue of Rs. 7.19 lakh crore collected under GST in the period between August 2017 and March 2018 During 2017-18, total revenue collected under GST in the period between August 2017 and March 2018 has been Rs. 7.19 lakh crore. This includes Rs. 1.19 lakh crore of CGST, Rs. 1.72 lakh crore of SGST, […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

Corporate Law Reporter: "IBBI prescribes conditions for Disciplinary Proceedings against insolvency Professional" and 1 more

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IBBI prescribes conditions for Disciplinary Proceedings against insolvency Professional Posted: 24 Apr 2018 06:37 AM PDT Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001 CIRCULAR No: LA/010/2018 23rd April, 2018 To All Registered Insolvency Professionals All Registered Insolvency Professional Agencies (By mail to registered email addresses and on website of the IBBI) Dear Madam / Sir, Sub: Commencement of Disciplinary Proceeding The Insolvency and Bankruptcy […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

Govt. invites comments on draft Notification under section 112A as inserted by Finance Act, 2018 by 30th April, 2018 Posted: 24 Apr 2018 06:24 AM PDT The Finance Act, 2018 has withdrawn the exemption under clause (38) of Section 10 of the Income-tax Act, 1961 (the Act) and has introduced a new section 112A in the Act, to provide that long term capital gains arising from transfer of a long-term capital asset being an equity share in a company or a […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

Corporate Law Reporter: "SEBI slams fine of Rs. 1 cr for Non-Compliance" and 2 more

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• SEBI slams fine of Rs. 1 cr for Non-Compliance
• E-Way Bill system to roll out in Arunachal Pradesh, Madhya Pradesh, Meghalaya, Sikkim and Puducherry from 25 April, 2018
• Issues regarding "Bill To Ship To" for e-Way Bill under CGST Rules, 2017

SEBI slams fine of Rs. 1 cr for Non-Compliance Posted: 23 Apr 2018 06:15 AM PDT SEBI imposes a total fine of Rs. 1 crore, including Rs. 5 lakh on Compliance officer of  Suzlon Energy, for failure to disclose the price sensitive  information required  under the insider trading regulations for several occassions. The violations made by the company pertains to, failure in making certain corporate announcements received by them. The regulator said, […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

E-Way Bill system to roll out in Arunachal Pradesh, Madhya Pradesh, Meghalaya, Sikkim and Puducherry from 25 April, 2018 Posted: 23 Apr 2018 05:49 AM PDT PRESS RELEASE 23rd April, 2018 Subject: Roll out of e-Way Bill system for intra-State movement of goods in the States / Union Territory of Arunachal Pradesh, Madhya Pradesh, Meghalaya, Sikkim and Puducherry from 25 thApril, 2018 As per the decision of the GST Council, e-Way Bill system for inter-State movement of goods has been rolled […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

Issues regarding "Bill To Ship To" for e-Way Bill under CGST Rules, 2017 Posted: 23 Apr 2018 05:41 AM PDT A number of representations have been received seeking clarifications in relation to requirement of e-Way Bill for "Bill To Ship To" model of supplies. In a typical "Bill To Ship To" model of supply, there are three persons involved in a transaction, namely: 'A' is the person who has ordered 'B' to send goods directly […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

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Corporate Law Reporter: "RBI updates Know Your Customer (KYC) Direction, 2016" and 2 more

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• RBI updates Know Your Customer (KYC) Direction, 2016
• PFRDA prescribes New NPS Subscriber Registration Form- Additional Mandatory Requirements
• Strengthening the Guidelines and Raising Industry standards for RTA, Issuer Companies and Banker to an Issue: SEBI

RBI updates Know Your Customer (KYC) Direction, 2016 Posted: 22 Apr 2018 10:42 PM PDT RBI/DBR/2015-16/18 Master Direction DBR.AML.BC.No.81/14.01.001/2015-16 February 25, 2016 (Updated as on April 20, 2018) Master Direction – Know Your Customer (KYC) Direction, 2016 In terms of the provisions of Prevention of Money-Laundering Act, 2002 and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, Regulated Entities (REs) are required to follow certain customer identification procedures while […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

PFRDA prescribes New NPS Subscriber Registration Form- Additional Mandatory Requirements Posted: 22 Apr 2018 10:39 PM PDT Pension Fund Regulatory and Development Authority (PFRDA) has been established by the Government of India for regulation and development of Pension Sector in order to protect the old age income security of subscribers. PFRDA takes various initiatives from time to time in order to simplify and improve the operational issues in National Pension System (NPS) […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

Strengthening the Guidelines and Raising Industry standards for RTA, Issuer Companies and Banker to an Issue: SEBI Posted: 22 Apr 2018 10:39 PM PDT Securities and Exchange Board of India CIRCULAR SEBI/HO/MIRSD/DOP1/CIR/P/2018/73 April 20, 2018 To, All Listed entities (Through Stock Exchanges) All Registered Bankers to an Issue (BTIs), All Registrars to an Issue / Share Transfer Agents (RTAs) acting on behalf of listed entities All Depositories All Recognised Stock Exchanges Dear Sir/Madam, Subject: Strengthening the Guidelines and Raising […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

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Corporate Law Reporter: CBIC notifies Exchange Rate of Foreign Currency Relating To Imported and Export Goods

Corporate Law Reporter:

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CBIC notifies Exchange Rate of Foreign Currency Relating To Imported and Export Goods Posted: 19 Apr 2018 05:46 AM PDT In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.31/2018-CUSTOMS (N.T.), dated  5th April, 2018 except as respects things done or omitted to be done before such supersession, the Central Board of Indirect Taxes […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software

Corporate Law Reporter: “Data Privacy & Protection – Regulatory Framework – 19th/20th March, 2018” and 3 more

Corporate Law Reporter:

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• Data Privacy & Protection – Regulatory Framework – 19th/20th March, 2018
• Central Goods and Services Tax (Fourth Amendment) Rules, 2018 notified
• Extension of due date for filing of application for refund under section 55 by notified agencies
• Six more states to roll out intra-State e-way bills from April 20

Data Privacy & Protection – Regulatory Framework – 19th/20th March, 2018 Posted: 18 Apr 2018 07:33 AM PDT Corporate Law Reporter is proud to be associated with Corpkonnect and invites you to our upcoming full day Masterclass on Data Privacy & Protection – Regulatory Framework scheduled in   Mumbai on 19th April at Hotel Mirage Gurgaon on 20th April at Hotel Ramada Bangalore on 20th April at Hotel Pride Workshop Timings: 09:30 AM – 05:30 PM Workshop Agenda: Indian Data & Privacy […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

Central Goods and Services Tax (Fourth Amendment) Rules, 2018 notified Posted: 18 Apr 2018 07:32 AM PDT Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Notification No. 21/2018 – Central Tax New Delhi, the 18th April, 2018 G.S.R……(E).- In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

Extension of due date for filing of application for refund under section 55 by notified agencies Posted: 18 Apr 2018 07:29 AM PDT Government of India Ministry of Finance Department of Revenue Central Board of Excise and Custom s Notification No. 20/2018 – Central Tax New Delhi, the 28th March, 2018 G.S.R….(E).- Whereas, as per section 55 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

Six more states to roll out intra-State e-way bills from April 20 Posted: 18 Apr 2018 07:00 AM PDT As per the decision of the GST Council, e-Way Bill system for all inter-State movement of goods has been rolled out from 01st April, 2018. As on 15th April, 2018, e-Way Bill system for intra-State movement of goods has been rolled out in the States of Andhra Pradesh, Gujarat, Karnataka, Kerala, Telangana and Uttar Pradesh.  E-Way Bills are […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

Corporate Law Reporter: “Clarification on the manner of filing the Quarterly Return by Composition Dealers in FORM GSTR-4” and 2 more

Corporate Law Reporter:

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• Clarification on the manner of filing the Quarterly Return by Composition Dealers in FORM GSTR-4
• Guidelines for issuance of debt securities by REITs and InvITs
• Amendment to SEBI (STP Centralised Hub and STP Service Providers) Guidelines, 2004

Clarification on the manner of filing the Quarterly Return by Composition Dealers in FORM GSTR-4 Posted: 17 Apr 2018 06:46 AM PDT Doubts are being raised about the manner of filing the quarterly return by composition dealers in FORM GSTR-4. In particular, there is a doubt with respect to the instruction at Sl. No. 10 appended to the said FORM which reads as below: For the tax periods July, 2017 to September, 2017 and October, 2017 to December, […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

Guidelines for issuance of debt securities by REITs and InvITs Posted: 17 Apr 2018 06:33 AM PDT CIRCULAR SEBI/HO/DDHS/DDHS/CIR/P/2018/71 April 13, 2018 To All Real Estate Investment Trusts (REITs) All Infrastructure Investment Trusts (InvITs) All Parties to REITs/InvITs All Stock Exchanges (other than Commodity Exchanges) All Merchant Bankers Dear Sir/Madam, Sub: Guidelines for issuance of debt securities by Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) 1. SEBI (Real Estate […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

Amendment to SEBI (STP Centralised Hub and STP Service Providers) Guidelines, 2004 Posted: 17 Apr 2018 06:33 AM PDT Securities and Exchange Board of India CIRCULAR SEBI/HO/MIRSD/DOSR1/CIR/P/2018/0000000072 April 17, 2018 To, 1. All Recognised Stock Exchanges, Clearing Corporations and Depositories 2. All recognised Depositories 3. Association of Mutual Funds in India 4. Custodians 5. STP service providers and STP Centralized Hub Dear Sir / Madam, Subject: Amendment to the Securities and Exchange Board of […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

Corporate Law Reporter: Requirement for obtaining PAN card u/s 139A of IT Act, 1961 eased for corporate assessees

Corporate Law Reporter

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Requirement for obtaining PAN card u/s 139A of IT Act, 1961 eased for corporate assessees Posted: 16 Apr 2018 03:49 AM PDT In case of a company, an application for incorporation, allotment of Permanent Account Number (PAN) and allotment of Tax Deduction and Collection Account Number (TAN) may be made through a Common Application Form submitted to the Ministry of Corporate Affairs (MCA). In these cases, the Certificate of Incorporation (COI) issued by MCA contains a mention […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

Corporate Law Reporter: “Govt. notifies Income-tax (5th Amendment) Rules, 2018” and 3 more

Corporate Law Reporter:

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• Govt. notifies Income-tax (5th Amendment) Rules, 2018
• CBDT notifies the Protocol amending the Double Taxation Avoidance Convention between India and Kazakhstan
• CBDT issues draft proposing to amend Rule 44E, Form 34C, 34D and 34DA to improve transparency in relation to tax rulings
• Allowance for members nominated for disciplinary Committee increased to Rs.10,000 for CA,CWA and CS

Govt. notifies Income-tax (5th Amendment) Rules, 2018 Posted: 15 Apr 2018 11:43 PM PDT MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 11th April, 2018 INCOME-TAX S.O.1558.(E).— In exercise of the powers conferred by section 295 read with section 9A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

CBDT notifies the Protocol amending the Double Taxation Avoidance Convention between India and Kazakhstan Posted: 15 Apr 2018 11:39 PM PDT Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 13th April, 2018 PRESS RELEASE CBDT notifies the Protocol amending the Double Taxation Avoidance Convention (DTAC) between India and Kazakhstan A Protocol to amend the existing Double Taxation Avoidance Convention (DTAC) between India and Kazakhstan, earlier signed on 9 […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

CBDT issues draft proposing to amend Rule 44E, Form 34C, 34D and 34DA to improve transparency in relation to tax rulings Posted: 15 Apr 2018 11:35 PM PDT F.No.370142/34/2016-TPL (Part) Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) ***** New Delhi, April 10, 2018 Sub: Draft notification proposing an amendment to rule 44E, Form 34C, 34D and 34DA as per BEPS action item 5, for improving transparency in relation to tax rulings– comments and suggestions-reg. Under Base […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com

Allowance for members nominated for disciplinary Committee increased to Rs.10,000 for CA,CWA and CS Posted: 15 Apr 2018 11:21 PM PDT MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 9th April, 2018 G.S.R. 348 (E).—In exercise of the powers conferred by clauses (c) and (d) of sub-section (2) of section 29A read with sub-section (4) of section 21 and sub-sections (2) and (4) of section 21B of the Chartered Accountants Act, 1949 (38 of 1949), the […] Manage your Governance, Risk & Compliance through COMPLINITY GRC Software www.complinity.com