Commodity derivatives – Miscellaneous norms : SEBI

  CIRCULAR SEBI/HO/CDMRD/DRMP/CIR/P/2016/93 September 26, 2016 To, The Managing Directors/Chief Executve Officers, National Commodity Derivatives Exchanges Sir/Madam, Sub: Commodity derivatives – miscellaneous norms Re-issuance of norms specified by erstwhile FMC 1. As per Section 131 [B] of the Finance Act, 2015 all rules, directions, guidelines, instructions, circulars, or any like instruments, made by the erstwhile Forward Markets Commission (FMC) or the Central Government applicable to recognised associations under the Forward Contracts Regulation Act, 1952 (FCRA) would continue to remain in force for a period of one year from the date on which FCRA was repealed (September 29, 2015), or till such time as notified by SEBI, whichever is earlier. 2. Erstwhile FMC, from time to time, had prescribed certain norms for National Commodity Derivatives Exchanges related to disclosure of disablement

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Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016

  MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 16th August, 2016/Shravana 25, 1938 (Saka) The following Act of Parliament received the assent of the President on the 12th August, 2016, and is hereby published for general information:— THE ENFORCEMENT OF SECURITY INTEREST AND RECOVERY OF DEBTS LAWS AND MISCELLANEOUS PROVISIONS (AMENDMENT) ACT, 2016 (NO. 44 OF 2016) [12th august, 2016.] An Act further to amend the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the Recovery of Debts due to Banks and Financial Institutions Act, 1993, the Indian Stamp Act, 1899, and the Depositories Act, 1996, and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Sixty-seventh Year of the Republic of India as follows:— CHAPTER I PRELIMINARY Short title

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Miscellaneous notices regarding MCA

  Corporate Seva Kendra : Option for queries Stakeholders are requested to select Option ‘1’ for queries related to Name Reservation and Company Incorporation, and Option ‘2’ for all other queries at Corporate Seva Kendra (0124-4832500).   E-Form AOC-04 likely to be amended eForm AOC-04 for filing Annual Financial Statement is likely to be amended w.r.t filing of CSR expenditure details. The revised AOC-04 eForm is likely to be available on MCA portal by 3rd week of Jul-2016. Stakeholders are requested to note that filing CSR details are mandatory. Therefore, Annual filing may be planned as per revised AOC-04.   E-Forms to be revised Forms FC-2, FC-4, MGT-10, MR-1, SH-7 and Refund Form are likely to be revised on MCA21 Company Forms Download page w.e.f 13th July 2016. Stakeholders are

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Constitution of Fifteenth Finance Commission Notified 

  The Government of India, with the approval President of India, has constituted Fifteenth Finance Commission in pursuance of clause (1) of article 280 of the Constitution, read with the provisions of the Finance Commission (Miscellaneous Provisions) Act, 1951 w.e.f. 27thNovember, 2017. The Commission will make recommendations for the five years commencing on April 1, 2020. This Commission will be headed by Shri. N.K.Singh, former Member of Parliament and former Secretary to the Government of India. Shri Shaktikanta Das, former Secretary to the Government of India and Dr. Anoop Singh, Adjunct Professor, Georgetown University shall be the members of the Commission.  Dr. Ashok Lahiri, Chairman (Non-executive, part time), Bandhan Bank and Dr. Ramesh Chand, Member, NITI Aayog shall be the Part time members of the Commission. Shri Arvind Mehta shall be the Secretary to the Commission. The Terms of Reference

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Self-certificate compliance regime for Start-ups extended to five years

  Employees’ Provident Fund Organisation (Ministry of Labour, Govt. Of India) Bhavishya Nidhi Bhawan, 14- Bhikaiji Cama Place, New Delhi – 110066 (CENTRAL ANALYSIS & INTELLIGENCE UNIT) No.CAIU/011/(34)2016/3806 Dated: 16/05/2017 To, All Additional Central P.F. Commissioners, All Regional P.F. Commissioner-I, All Regional P.F. Commissioner-II, Sub:- Compliance regime for Start-ups-regarding. Sir, Please find enclosed herewith a copy of DO letter No. Z-13025/39/2015- LR Cell dated 06.04,2017 received from Shri Heeralal Samariya, Addlitional Secretary, Ministry of Labour & Employment, New Delhi on the above cited subject. In terms of directions contained therein for the purpose of EPF & MP Act, 1952, all concerned are required to adhere to the directions mentioned in the said letter. Yours faithfully, (S.C. Goyal) Addl. Central P.F. Commissioner-II (CAIU) Copy to:- PS to CPFC w.r.t. diary

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ITAT releases Draft Income Tax Appellate Tribunal Rules, 2017

  INCOME TAX APPELLATE TRIBUNAL (COMMITTEE FOR REVISION OF THE INCOME TAX APPELLATE TRIBUNAL RULES) 11th floor, Lok Nayak Bhawan Khan Market, New Delhi 110 003 PUBLIC NOTICE May 11, 2017 1. Over a period of time, it was widely felt that the Income-tax (Appellate Tribunal) Rules, 1963, have outlived their utility to some extent in view of changing circumstances and the use of technology in the Tribunal’s functioning. In the times to come, the use of technology in the Tribunal’s day to day functioning will increase manifold. It is in this background that a need is felt to revisit the existing rules and substitute the same by the new rules. This committee was entrusted with the work of preparing the new Income Tax Appellate Tribunal Rules 2017 in the

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Monthly Journal: FREE MAY 2017 EDITION

MONTHLY JOURNAL BY ONLINE LAW SOLUTIONS   Monthly Journal covers articles on important topics, due dates, notifications/circulars/press releases/etc of the preceding month. It covers Income Tax, GST, Service Tax, Excise Duty, Custom Duty, Company Law, SEBI, RBI, Labour Law, IRDAI & Miscellaneous. Sample copy of May, 2017 is attached herewith for reference purpose. Monthly Journals are now available in two modes: E-Copy and Hard Copy. It is sent within 15th of the month. Hard Copy may take few days extra due to courier transit time. E-Copy E-Copy is directly sent on your email. It is device friendly pdf versions but can’t be printed or copied/edited. PRICE (for 12 issues) : Rs. 975/-  MRP: Rs. 1800/- To subscribe: CLICK HERE Hard Copy It is delivered on your address given at the

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GST: E-way bills

  The E-Way Bill Rules released by Government puts an end to the dream of free movement of Goods under the GST regime and keeping the check post raaj alive.  The industry was however, expecting some regulations around the movement of goods and therefore the introduction of e-way bill rules does not come as a complete shocker. The persons registered under GST causing movement of goods and the Transporters have been saddled with additional compliances to be made under these rules for any movement of goods.  The government has virtually made generation of e-way bills mandatory for any type of movement of goods where the value of consignment is more than INR 50,000, which has been listed below: Movement of goods in relation to a Supply or for reasons other than supply

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Master Circular on Show Cause Notice, Adjudication and Recovery

  Kind attention is invited to Ninety two Circulars and Instructions on Show Cause Notices and Adjudication issued by the Board from time to time, placed at the Annexures to this Master Circular. These circulars address references from trade and field formations and provide clarity and uniformity on the issues raised. Board undertakes exercise of consolidating these circulars from time to time so as to ensure clarity and ease of reference. This master circular on the subject of show cause notices, adjudication proceedings and recovery is an effort to compile relevant legal and statutory provisions, circulars of the past and to rescind circulars which have lost relevance. Annexure-I to the circular provides list of the eighty nine circulars which stand rescinded. Three circulars listed in Annexure-II have not been rescinded

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New rules for Maintenance of registers under various labour laws

  MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 21st February 2017 G.S.R. 154(E).—Whereas for the ease of, and for the expedient compliance of the requirement of the various labour related laws referred to herein and for the purpose of maintaining combined registers for all such laws, it has become essential to frame separate rules for the said purpose; And whereas the intention to provide such combined register is to sub-serve the purposes, more specifically electronically, of the said labour related laws and the rules made there under, wherein provisions have been made for maintenance of such registers; And whereas combined registers provided under the proposed rules will facilitate ease of compliance, maintenance and inspection, and will also make the information provided there under easily accessible to the public through

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