Priyanka Mishra Associates · PRIYANKA MISHRA & ASSOCIATES ... MCA issued a notification No. GSR 695 (E) ... and MGT‐7 under the Companies Act, 2013: ...

PRIYANKA MISHRA & ASSOCIATES (COMPANY SECRETARIES) JULY, 2016

1

Priyanka Mishra & Associates (Company Secretaries)

Circulars and Notifications

Office Address:

CS Priyanka Mishra

(Proprietor)

M/s Priyanka Mishra & Associates

Company Secretaries

202, 2nd Floor, Sterling Arcade,

Race Course Road, Old Palasia,

Indore, Madhya Pradesh‐452001

Contact No: 0731‐4004473, 09827482031

E‐mail: [email protected]

Web: www.cspriyankamishra.com


2

Contents of Document

S.No.

Particular

Page No.

1.

About us & our services 3‐4

2.

Corporate Law Circulars/Notifications/updates

5‐7

3.

Income Tax Circulars/Notifications/updates

8‐10

4.

RBI Circulars/Notifications/updates

11‐18

5. SEBI Circulars/Notifications/updates

19‐19

6. DGFT Circulars/Notifications/updates

20‐21

7. Service Tax Circulars/Notifications/updates

Nil

8. Central Excise Circulars/Notifications/updates

22‐25

9. Bombay Stock Exchange 26‐26

10. National Stock Exchange 27‐27


3

About Us:

Priyanka Mishra & Associates is a firm of Company Secretaries. The firm is engaged in providing

Services & solutions on various corporate laws applicable on the Companies.

Our Services:

CORPORATE LAW & SECRETARIAL MATTERS :‐

1. Company Incorporation, Drafting & preparation of Memorandum and Articles of Association.

2. Preparation of Search & Status Reports,

3. Due Diligence Report.

4. Secretarial Audit covering all corporate laws that are generally applicable on the corporate

houses.

5. Preparation of Registers & Records as prescribed under the Companies Act, 2013.

6. Calling and Convening of General Meetings, Board Meetings and other Class Meetings as and

when required under the companies Act, 2013.

7. Drafting of the minutes and Preparation of Minutes Book, of the Board Meetings and General

Meetings.

8. Filing of Annual Returns, Annual Accounts and other prescribed Forms with the Registrar of

Companies and XBRL Filing.

9. XBRL filing of cost records

10. Liasioning with Banks and other Financial Institutions regarding Creation, Modification and

Satisfaction of Charges.

11. Dealing with CLB, RD & ROC matters.

12. Compounding of Offences committed under the Companies Act and various other Legislations.

13. Deregistration or strike off of Defunct Companies registered under the Companies Act.

14. Dealing with matters relating to Takeovers, mergers & amalgamation of Companies.

15. Acting as a scrutinizer for postal ballot voting process.

16. All other event based work such as Allotment, Capital Increase/Decrease, Change in register

office etc. under companies act 2013


4

LIMITED LIBILITY PARTNERSHIP LAW :‐

1. Incorporation of LLP under LLP Act, 2008/ LLP Rules, 2009.

2. Compliances of secretarial matters of LLP's.

3. Documentation in respect of change of name, Change in Designated Partners and preparation of

supplemental agreements for LLP under LLP Act, 2008/ LLP Rules, 2009.

4. Annual filing of LLP under LLP ACT, 2008/ LLP Rules, 2009.

OTHER MATTERS :‐

1. Registration of Intellectual Property Rights.

2. Internal Audit covering all sphere of auditing including physical and actual stock verification,

Management audit etc.

3. Matters relating to Director General of Foreign Trade.

4. Matters relating to Labour Law.

5. Matters relating to Central excise & customs, Service tax etc.

6. Matters relating to Registration and compliances of Non Banking Financial Companies.

7. Arrangement of working capital finance in the form of Stock Hypothecation etc

8. Preparation of CMA (for banks) & Project reports.

DIGITAL SIGNATURE CERTIFICATE (DSC) :‐

We provide services related with :

Class ‐ 2

Class – 3

DGFT DSC for ROC, income tax filing, e‐tendering and EXIM.


5

Notification/Circulars/Updates

CORPORATE LAW

1. Companies (cost records and audit) Amendment Rules, 2016:‐

MCA issued a notification No. GSR 695 (E) dated – 14/07/2016 to further amend the

Companies (cost records and audit) Rules, 2014.

Original links

http://www.mca.gov.in/Ministry/pdf/Rules_15072016.pdf

2. Companies (Share Capital and Debentures) Third Amendment Rules, 2016:‐

MCA issued a notification No. GSR 704 (E) dated – 19/07/2016 to further amend the

Companies (Share Capital and Debentures) Rules, 2014.

Original link


3. In exercise of the powers conferred by sub‐ section (1) of section 381 of the Companies Act, 2013 (18 of 2013):‐

MCA issued a notification No. SO 2463 (E) dated – 19/07/2016 regarding Foreign company

– Airline company – Requirement of clause (a) of subsection (1) of section 381 of the Act

shall apply to a foreign company which is an airlines company having a share capital,

subject to certain exceptions and modifications.

Original link

http://www.mca.gov.in/Ministry/pdf/Notification_19072016.pdf

4. National Company Law Appellate Tribunal Rules, 2016:‐

MCA issued a notification No. GSR 717 (E) dated – 21/07/2016 regarding National

Company Law Appellate Tribunal Rules, 2016.

Original link



6

5. National Company Law Tribunal Rules, 2016:‐

MCA issued a notification No. GSR 716 (E) dated – 21/07/2016 regarding National

Company Law Tribunal Rules, 2016.

Original links

http://www.mca.gov.in/Ministry/pdf/Rules_22072016_1.pdf

6. Special Court under section 435 of the Companies Act, 2013:‐

MCA issued a notification No. SO 2554(E) dated – 27/07/2016 regarding Special Court

under section 435 of the Companies Act, 2013 for the purposes of providing speedy

trial of offences punishable under the Companies Act, 2013 with imprisonment of two

years or more under the Companies Act, 2013.

Original links

http://www.mca.gov.in/Ministry/pdf/designationofSpecialCourt_28072016.pdf

7. Companies (Accounts) Amendment Rules, 2016:‐

MCA issued a notification No. GSR 742(E) dated – 27/07/2016 to further amend

Companies (Account) Rules, 2014.

Original links

http://www.mca.gov.in/Ministry/pdf/CompaniesAccountsAmendmentRules_28072016.pdf

8. Companies (Incorporation) Third Amendment Rules, 2016:‐

MCA issued a notification No. GSR 743(E) dated – 27/07/2016 to further amend

Companies (Incorporation) Rules, 2014.

Original links

http://www.mca.gov.in/Ministry/pdf/CompaniesThridAmendementRules_28072016.pdf


7

9. Relaxation of additional Fees and extension of last date of in filing AOC‐4, AOC‐4(XBRL), AOC‐4(CFS) and MGT‐7 under the Companies Act, 2013:‐

MCA issued a Circular No. 8/2016 dated – 29/07/2016 for further relaxation of

additional fees and extension of last date of in filing AOC‐4, AOC‐4(XBRL), AOC‐4(CFS)

and MGT‐7 under the Companies Act, 2013. According to this circular it has been

decided to allow companies to file financial statements and Annual Returns on or

before 29.10.2016 where due date for holding of the Annual General Meeting is on or

after 01.04.2016, without payment of additional filing fee.

Original links

http://www.mca.gov.in/Ministry/pdf/GeneralCircular08_30072016.pdf


8

Income Tax

1. Income Declaration Scheme, 2016:

Notification – 06/07/2016: Ministry of Finance issued a notification No. 56 /2016

[F.No.142/8/2016‐TPL] / S.O.2322 (E) on 06/07/2016 related with ‘Income Declaration

Scheme, 2016’:‐

Original link http://www.incometaxindia.gov.in/communications/notification/notificationno562016.pdf

2. Section 35AC of the Income‐tax Act, 1961 ‐ Eligible Projects or Schemes, Expenditure on

‐ Notified Eligible Projects or Schemes:

Notification – 12/07/2016: Ministry of Finance issued a notification No.59/2016

[F.No.V.27015/2/2016‐SO(NAT.COM)] / SO 2380(E) on 12/07/2016 regarding Section

35AC of the Income‐tax Act, 1961 ‐ Eligible Projects or Schemes, Expenditure on ‐ Notified

Eligible Projects or Schemes:‐

Original link http://www.incometaxindia.gov.in/pages/communications/notifications.aspx

3. Arm’s length price for Assessment Year 2016‐17:

Notification – 14/07/2016: Ministry of Finance issued a notification No. 57/2016 [F. No.

500/1/2014‐APA‐II] /SO 2425(E) on 14/07/2016 regarding arm’s length price for

Assessment Year 2016‐17:‐

Original link http://www.incometaxindia.gov.in/communications/notification/notification57_2016.pdf

4. Notification No. 58/2016:

Notification – 18/07/2016: Ministry of Finance issued a notification No. 58/2016

[F.No.203/33/2015/ITA‐II]on 18/07/2016 regarding M/S Indian Institute of Science &

Education and Research, Mohali has been approved under the category of “University or

College or other institute engaged in research activities from AY – 2016‐17 & onwards :‐

Original link http://www.incometaxindia.gov.in/communications/notification/notification582016.pdf


9

5. Dates on or before which the tax and surcharge is payable U/S 184 in respect of

undisclosed income:

Notification – 20/07/2016: Ministry of Finance issued a notification No. 59/2016

[F.No.142/8/2016‐TPL] /SO 2476(E) on 20/07/2016 in which the Central Government

seeks to amend notification No. S.O. 1830(E) dated 19th March, 2016 regarding the dates

on or before which the tax and surcharge is payable U/S 184 in respect of undisclosed

income.


6. Amendment in the Income Declaration Scheme Rules, 2016:

Notification – 20/07/2016: Ministry of Finance issued a notification No. 60/2016 [F.No.142/8/2016‐TPL] /SO 2477(E) on 20/07/2016 regarding amendment in the Income Declaration Scheme Rules, 2016.


7. Backward areas of States:

Notification – 20/07/2016: Ministry of Finance issued a notification No. 61/2016 [F. No. 142/13/2015‐TPL] /SO 2478(E) on 17/06/2016 in this notification Central Government notifies some district of states Telangana, West Bengal, and Bihar as backward areas under the first proviso to clause (iia) of sub‐ section (1) of section, 32 and sub‐ section (1) of Section 32AD, of the Income Tax Act, 1961:‐


8. Agreement between the Government of the Republic of India and the Government of

Saint Kitts and Nevis for the exchange of information relating to taxes:

Notification – 21/07/2016: Ministry of Finance issued a notification No. 62/2016 [F. No. 503/09/2009‐FTD‐I] /SO 2488(E) on 21/07/2016; regarding agreement between the


10

Government of the Republic of India and the Government of Saint Kitts and Nevis for the exchange of information relating to taxes :‐


9. Section 10(46) of the Income‐tax Act, 1961 ‐ Exemption ‐ Statutory Body/Authority /

Commission ‐ Notified Body or Authority:

Notification – 26/07/2016: Ministry of Finance issued a notification No. 63/2016 [F. No. 196/30/2015‐ITA‐I] / SO 2527(E) on 26/07/2016 regarding exemption to statutory body/ authority/ commission – notifies body or authority under Section 10(46) of the Income Tax Act:‐



11

Reserve Bank Of India

1. Auction of Government of India Dated Securities: RBI issued a Notification No. RBI/2016‐17/1 Ref. No. IDMD/11/08.02.032/2016‐17 on 04/07/2016 regarding of auction of government of India dated securities.

Original link

https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/NT01C6F807B4E28F44609F075A7636116512.PDF

2. Master Circular ‐ Lead Bank Scheme:

RBI issued a Master Circular No. RBI/2016‐2017/2 FIDD.CO.LBS.BC.No.5/02.01.001/2016‐17 Dated: 07/07/2016 regarding Lead Bank Scheme.

Original link

https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/MC2E42C2272A76E43B38AD76CA44914C6CA.PDF

3. Master Circular on SHG‐Bank Linkage Programme:

RBI issued a Master Circular No. RBI/2016‐2017/3 FIDD.FID.BC.No.06/12.01.033/2016‐17 Dated: 07/07/2016 on SHG‐Bank Linkage Programme.

Original link

https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/MC2740B040A9E724CEB80F3C7FCFEDE0398.PDF

4. Master Circular‐ Credit Facilities to Minority Communities:

RBI issued a Master Circular No. RBI/2016‐2017/4 FIDD.GSSD.BC.No.01/09.10.01/2016‐17 Dated: 07/07/2016 on Credit Facilities to Minority Communities.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/MC04A201E6653AE7471C96A4729E7F3CB109.PDF


12

5. Master Circular ‐ Credit facilities to Scheduled Castes (SCs) & Scheduled Tribes (STs):

RBI issued a Master Circular No. RBI/2016‐2017/5 FIDD.CO.GSSD.BC.No.03/09.09.01/2016‐17 Dated: 07/07/2016 for credit facilities to Scheduled Castes (SCs) & Scheduled Tribes (STs)

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/5MC1041CC40497E4B98888A912F9036D05B.PDF

6. Revision of interest rates for Small Savings Schemes:

RBI issued a notification No. RBI/2016‐2017/6 DGBA. GAD.13/15.02.005/2016‐17 Dated: 07/07/2016 for revision of interest rates for Small Savings Schemes.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/NOTI0623258A2C947944E68DFFA8A7231E225B.PDF

7. Long Term (Subordinated) Deposits (LTDs) – Review of guidelines:

RBI issued a notification No. RBI/2016‐2017/7 DCBR.BPD.Cir No. 21/09.18.201/2016‐17 Dated: 07/07/2016 regarding Long Term (Subordinated) Deposits (LTDs) – Review of guidelines.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/NOTI07F5C63A8548694A57A7001FE80F224E4E.PDF

8. Discontinuation of Reporting of Bank Guarantee on behalf of service importers:

RBI issued a notification No. RBI/2016‐2017/8 A.P. (DIR Series) Circular No. 1 Dated: 07/07/2016 regarding discontinuation of reporting of Bank Guarantee on behalf of service importers.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/NOTI087626F0A1523A492EA2AD74678AC55476.PDF


13

9. Master Circular – Deendayal Antyodaya Yojana ‐ National Rural Livelihoods Mission

(DAY‐NRLM):

RBI issued Master Circular No. RBI/2016‐2017/9 FIDD.GSSD.CO.BC.No.07/09.01.01/2016‐17 Dated: 07/07/2016 for Deendayal Antyodaya Yojana ‐ National Rural Livelihoods Mission (DAY‐NRLM).

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/MC091C675C9D98EC43B59D783C07DC3F63E4.PDF

10. Master Circular ‐ Deendayal Antyodaya Yojana‐ National Urban Livelihoods Mission

(DAY‐NULM):

RBI issued a Master Circular No. RBI/2016‐2017/10 FIDD.GSSD.CO.BC.No.04/09.16.03/2016‐17 Dated: 07/07/2016 on Deendayal Antyodaya Yojana‐ National Urban Livelihoods Mission (DAY‐NULM).

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/MC108A29B15BE8B44A27971103D22E7AD2DA.PDF

11. Amendment to Master Direction on KYC – Operationalisation of Central KYC Registry

(CKYCR) and KYC norms for Foreign Portfolio Investors (FPIs):

RBI issued a Circular No. RBI/2016‐2017/11 DBR.AML.BC.No.1/14.01.001/2016‐17 Dated: 08/07/2016 regarding Amendment to Master Direction on KYC – Operationalisation of Central KYC Registry (CKYCR) and KYC norms for Foreign Portfolio Investors (FPIs).

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/11CRF783AB2959AD4DF18EAD5EF0DD80FFAD.PDF

12. Auction of Government of India Dated Securities ‐ 2:

RBI issued notification No. RBI/2016‐2017/12 Ref.No.IDMD/68/08.02.032/2016‐17 Dated: 11/07/2016 regarding Auction of Government of India Dated Securities.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/NT1218E0F85B0A1E418FB526F64467D08C24.PDF


14

13. Exim Bank's GoI supported Line of Credit of USD 86.31 million to Myanma Foreign

Trade Bank (MFTB), Myanmar:

RBI issued a Circular No. RBI/2016‐2017/13

A.P. (DIR Series) Circular No. 2 Dated: 14/07/2016 on Exim Bank's GoI supported Line of Credit of USD 86.31 million to Myanma Foreign Trade Bank (MFTB), Myanmar.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/APD02A4EEDDDB509A47D69CA44917A487426D.PDF

14. Investments in Non‐SLR instruments by State / Central Co‐operative Banks:

RBI issued notification No. RBI/2016‐2017/14

DCBR.BPD.BC.No. 01/19.51.026/2016‐17 Dated: 14/07/2016 Regarding Investments in Non-SLR instruments by State / Central Co-operative Banks.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/NT146E09B5AA67764381AFE9DACA78C8920B.PDF

15. Facility for Exchange of Soiled/ Mutilated/ Imperfect Notes:

RBI issued a notification No. RBI/2016‐2017/15 DCM (NE) No.120/08.07.18/2016‐17 Dated: 14/07/2016 regarding Facility for Exchange of Soiled/ Mutilated/ Imperfect Notes.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/NOTI%201520AFA79636AA41F1B43761270226A59F.PDF

16. Master Circular – Policy Guidelines on Issuance and Operation of Pre‐paid Payment

Instruments in India:

RBI issued a Master Circular No. RBI/2016‐2017/16 DPSS.CO.PD.PPI.No.01/02.14.006/2016‐17 Dated: 16/06/2016 regarding Policy Guidelines on Issuance and Operation of Pre‐paid Payment Instruments in India.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/16MC9102DB7D5FE742CCB5D0715A77F6666E.PDF


15

17. Master Circular – Mobile Banking transactions in India – Operative Guidelines for

Banks:

RBI issued a Master Circular No. RBI/2016‐2017/17 DPSS.CO.PD.Mobile Banking.No./2/02.23.001/2016‐2017 Dated: 14/07/2016 regarding Mobile Banking transactions in India – Operative Guidelines for Banks.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/MC177DF24D0B0964448286BC682385CDA1F3.PDF

18. Sovereign Gold Bonds 2016‐17 – Series I:

RBI issued a Circular No. RBI/2016‐2017/18 IDMD.CDD.No. 2020 /14.04.050/2016‐17 Dated: 14/07/2016 related with Sovereign Gold Bonds 2016‐17 – Series I.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/18CIR8AA95F997D364C9D820B531EDA35E9A6.PDF

19. Sovereign Gold Bonds, 2016‐17 ‐ Operational Guidelines:

RBI issued a Master Circular No. RBI/2016‐2017/19 IDMD.CDD.No.112/14.04.050/2016‐17 Dated: 14/07/2016 for Sovereign Gold Bonds, 2016‐17 ‐ Operational Guidelines.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/16MCB95FC9438C284A3CB0F88A163FCEAD5F.PDF

20. Auction of Government of India Dated Securities‐3:

RBI issued a Notification No. RBI/2016‐2017/20 Ref.No.IDMD/124/08.02.032/2016‐17 Dated: 18/07/2016 for Auction of Government of India Dated Securities.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/NT20D2C7048191AD46FD93D59309F281A914.PDF


16

21. Master Circular – Facility for Exchange of Notes and Coins:

RBI issued a Master Circular No. RBI/2016‐2017/21 DCM (NE) No.G‐1/08.07.18/2016‐17 Dated: 18/07/2016 for Facility for Exchange of Notes and Coins.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/MC2127888A58D8CC46FA9071B93E0AA4C5F8.PDF

22. Master Circular – Detection and Impounding of Counterfeit Notes:

RBI issued a Master Circular No. RBI/2016‐2017/22 DCM (FNVD) G–6/16.01.05/2016‐17 Dated: 20/07/2016 for Detection and Impounding of Counterfeit Notes.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/MC2213EF5E8817D7466EBE7C438FB5F0207F.PDF

23. Master Circular –Scheme of Penalties for bank branches based on performance in

rendering customer service to the members of public:

RBI issued a Master Circular No. RBI/2016‐2017/23 DCM (CC) No.G‐3/03.44.01/2016 – 17 Dated: 20/07/2016 on Scheme of Penalties for bank branches based on performance in rendering customer service to the members of public.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/23MCA13ADE6AE48C40F7A44B17803F9D6C0F.PDF

24. Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934 – Uttarakhand

State Cooperative Bank Ltd., Haldwani:

RBI issued a Notification No. RBI/2016‐2017/24DCBR.BPD (RCB).BC.No. 02/19.51.025/2016‐17 Dated: 21/07/2016 on Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934 – Uttarakhand State Cooperative Bank Ltd., Haldwani.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/NOTI24178D7C1109084DACACEEB8A79D412FA0.PDF


17

25. Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR), Liquidity

Risk Monitoring Tools and LCR Disclosure Standards:

RBI issued a Circular No. RBI/2016‐2017/25DBR.BP.BC.No.2/21.04.098/2016‐17 Dated: 21/07/2016 regarding Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/CIR2593CE26A51BFC43AB8EA9AC31C92642D7.PDF

26. Auction of Government of India Dated Securities‐4:

RBI issued a Circular No. RBI/2016‐2017/26 Ref.No.IDMD/188/08.02.032/2016‐17 Dated: 25/07/2016 for auction of Government of India Dated Securities.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/CR26E3B00ECA7B0641D398905A59936E2BB9.PDF

27. Priority Sector Lending –Targets and Classification‐ Bank loans to MFIs for on‐lending ‐

Qualifying asset ‐ Revised loan limit:

RBI issued a Notification No. RBI/2016‐2017/27FIDD.CO.Plan.BC.No.8/04.09.001/2016‐17 Dated: 28/07/2016 for Priority Sector Lending –Targets and Classification‐ Bank loans to MFIs for on‐lending ‐ Qualifying asset ‐ Revised loan limit.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/NOTI27B40FA202B9144A90B37755388558E0E8.PDF

28. Guidelines for Relief Measures by NBFCs in areas affected by Natural Calamities:

RBI issued a notification No. RBI/2016‐2017/28 DNBR (PD) CC.No.083/03.10.001/2016‐17 Dated: 28/07/2016 on Guidelines for Relief Measures by NBFCs in areas affected by Natural Calamities.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/NT2848F8A08C17B54ECC9765CB9FEC348FA3.PDF


18

29. Half yearly/Quarterly Review of Accounts of Public Sector Banks:

RBI issued a notification No. RBI/2016‐2017/29 Ref.DBS.ARS.No.BC.2/08.91.001/2016‐17 Dated: 28/07/2016 regarding Half yearly/Quarterly Review of Accounts of Public Sector Banks.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/NT29D931E41A6BCB48D0A2DCBDCDC190CE0E.PDF

30. Retail Participation by Demat Account Holders in the Government Securities Market:

Access to NDS‐OM Platform:

RBI issued a notification No. RBI/2016‐2017/30 Ref No.FMRD.DIRD.3/14.03.07/2016‐17 Dated: 28/07/2016 for Retail Participation by Demat Account Holders in the Government Securities Market: Access to NDS‐OM Platform.

Original link https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/NOTI300728BB0DB5C5442C85E173E625E3178F.PDF


19

Securities & Exchange Board of India

1. Revised Formats for Financial Results and Implementation of Ind‐AS by Listed Entities:

Circular CIR/CFD/FAC/62/2016 dated: July 05, 2016 issued by SEBI regarding revised

formats for financial results and implementation of Ind‐AS by listed entities.

Original link http://www.sebi.gov.in/cms/sebi_data/attachdocs/1467712561526.pdf

2. Simplification of Account Opening Kit:

Circular CIR/MIRSD/64/2016 dated: July 12, 2016 issued by SEBI regarding simplification

of account opening kit.


3. Acceptance of Fixed Deposit Receipts (FDRs) by Clearing Corporations:

Circular CIR/MRD/DRMNP/65/2016 dated: July 15, 2016 issued by SEBI regarding

acceptance of fixed deposit receipts (FDRs) by clearing corporations.


4. Operationalisation of Central KYC Records Registry (CKYCR):

Circular CIR/IMD/FPI&C/61/2016 dated: July 21, 2016 issued by SEBI regarding

operationalisation of central KYC records registry (CKYCR).

Original link

http://www.sebi.gov.in/cms/sebi_data/attachdocs/1469162138003.pdf


20

Director General of Foreign Trade

1. Closure of EPCG authorizations in case of supplies to SEZ units which have been made

prior to 01.04.2015 and where exports proceeds have not been realized through Foreign

Currency Account (FCA) of the SEZ unit:

Trade Notice No. 10/2016 dated: July 20, 2016 issued by Government of India, Ministry of

Commerce & Industry for closure of EPCG authorizations in case of supplies to SEZ units

which have been made prior to 01.04.2015 and where exports proceeds have not been

realized through foreign currency account (FCA) of the SEZ unit.

Original link http://dgft.gov.in/Exim/2000/TN/TN16/TN102016.pdf

2. Deduction of State/ Central Taxes collected from the customers while calculating

foreign earnings for SFIS/SEIS Schemes:

Trade Notice No. 11/2015‐20 dated: July 21, 2016 issued by Government of India,

Ministry of Commerce & Industry regarding deduction of state/ central taxes collected

from the customers while calculating foreign earnings for SFIS/SEIS schemes.

Original link http://dgft.gov.in/Exim/2000/TN/TN16/Trade%20Not‐11‐3.pdf

3. Updating in Para 8 (B) of General NOtes Regarding Import Policy of ITC(HS), 2012,

Schedule‐I (Import Policy) ‐ reg.:

Notification No. 14/2015‐2020 dated: July 14, 2016 issued by Government of India,

Ministry of Commerce & Industry for updating in para 8 (B) of general notes regarding

import policy of ITC(HS), 2012, schedule‐I (import policy) ‐ reg..

Original link http://dgft.gov.in/Exim/2000/NOT/NOT16/NOti%20No.14%20(E).pdf


21

4. Minimum Export Price (MEP) on export of Potato:


Ministry of Commerce & Industry for Minimum Export Price (MEP) on export of Potato.

Original link http://dgft.gov.in/Exim/2000/NOT/NOT16/noti1516.pdf

5. Import Policy of unmanned Aircraft System (UAS)/Unmanned Aerial Vehicle

(UAVs)/Remotely Piloted Aircraft (RPAs)/ drones:


Ministry of Commerce & Industry for Import Policy of unmanned Aircraft System

(UAS)/Unmanned Aerial Vehicle (UAVs)/Remotely Piloted Aircraft (RPAs)/ drones.

Original link http://dgft.gov.in/Exim/2000/NOT/NOT16/Notification_No.16_(English).pdf

6. Amendment in the Import Policy Condition No.3 of Chapter 12 of ITC (HS), 2012,

Schedule ‐ I (Import Policy).:

Notification No. 17/2015‐20 dated: July 29, 2016 issued by Government of India, Ministry

of Commerce & Industry for amendment in the Import Policy Condition No.3 of Chapter 12

of ITC (HS), 2012, Schedule ‐ I (Import Policy).

Original link http://dgft.gov.in/Exim/2000/NOT/NOT16/noti1716.pdf


22

Central Excise

1. Amendment in notification No.12/2012‐Central Excise:

Notification No.26/2016‐CE, dt. 26‐07‐2016: Ministry of Finance issued a notification to

amend notification No. 12/2012‐Central Excise so as to prescribe 1% excise duty (without

input and capital goods credit) on parts of articles of jewellery falling under heading 7113

of the Central Excise Tariff Act, 1985 (5 of 1986), and to prescribe a criteria for

classification of an articles of jewellery or part of articles of jewellery or both as that of a

particular precious metal.

Original link

http://www.cbec.gov.in/resources//htdocs‐cbec/excise/cx‐act/notifications/notfns‐2016/cx‐tarr2016/ce26‐2016‐

revised.pdf

2. Partially exemption of Central Excise duty on articles of jewellery:

27/2016‐CE, dt. 26‐07‐2016: Ministry of Finance issued a notification to partially exempt

Central Excise duty on articles of jewellery falling under heading 7113 of the Central

Excise Tariff Act, 1985 (5 of 1986) manufactured by:

(a) re‐conversion of jewellery given by the retail customer, or

(b) mounting of precious stone given by the retail customer.

Original link

http://www.cbec.gov.in/resources//htdocs‐cbec/excise/cx‐act/notifications/notfns‐2016/cx‐tarr2016/ce27‐2016.pdf

3. Amendment in notification No. 8/2003‐Central Excise dated 1st March, 2003:

28/2016‐CE dt. 26‐07‐2016: Ministry of Finance issued a notification to amend

notification No. 8/2003‐Central Excise dated 1st March, 2003, so as to increase the SSI

Exemption limit and the SSI Eligibility limit for articles of jewellery or parts of articles of

jewellery or both, falling under heading 7113 of the Central Excise Tariff Act, 1985 (5 of

1986).

Original link



23

4. Amendment in notification No. 17/2011‐Central Excise dated 1st March, 2011:

29/2016‐CE dt. 26‐07‐2016: Ministry of Finance issued a notification to amend

notification No. 17/2011‐Central Excise, dated the 1st March, 2011, so as to exclude

handicrafts falling under heading 7113 of the Central Excise Tariff Act, 1985 (5 of 1986),

from the purview of excise duty exemption for "handicrafts".

Original link


5. Amendment in notification No. 17/2004‐CE(NT) dated 4th September, 2004:

31/2016‐CENT dt. 04‐07‐2016: Ministry of Finance issued a notification to amend

notification no. 17/2004‐CE (NT) dated 04.09.2004 for supply of exempted bunker fuel to

the specified Indian Ships / Vessels from the warehouse.

Original link

http://www.cbec.gov.in/resources//htdocs‐cbec/excise/cx‐act/notifications/notfns‐2016/cx‐nt2016/cent31‐2016.pdf

6. Amendment in notification No. 35/2001‐CE(NT) dated 26th June, 2001:

32/2016‐CENT dt. 11‐07‐2016: Ministry of Finance issued a notification to further amend

notification No. 35/2001‐Central Excise (NT) dated 26.06.2001 so as to exempt mandatory

physical verification of manufacturing premises in respect of manufacturers of readymade

garments and made up articles of textiles.

Original link


7. Tariff values for articles of jewellery:

33/2016‐CENT dt. 26‐07‐2016: Ministry of Finance issued a notification to notify the tariff

values for articles of jewellery or parts of articles of jewellery or both, falling under

heading 7113 of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986).

Original link



24

8. Articles of Jewellery (Collection of Duty) Rules, 2016:

34/2016‐CENT dt. 26‐07‐2016: Ministry of Finance issued a notification to notify the

Articles of Jewellery (Collection of Duty) Rules, 2016, applicable to articles of jewellery or

parts of articles of jewellery or both falling under heading 7113 of the Central Excise Tariff

Act, 1985 (5 of 1986).

Original link


9. Amendment in the Central Excise Rules, 2002:

35/2016‐CENT dt. 26‐07‐2016: Ministry of Finance issued a notification to amend the

Central Excise Rules, 2002 in relation to articles of jewellery or parts of articles of

jewellery or both, falling under heading 7113 of the First Schedule to the Central Excise

Tariff Act, 1985 (5 of 1986).

Original link


10. Amendment the CENVAT Credit Rules, 2004:

36/2016‐CENT dt. 26‐07‐2016: Ministry of Finance issued a notification to amend the

CENVAT Credit Rules, 2004 in relation to articles of jewellery or parts of articles of

jewellery or both, falling under heading 7113 of the First Schedule to the Central Excise

Tariff Act, 1985 (5 of 1986).

Original link


11. Modified Format for Quarterly Return:

37/2016‐CENT dt. 26‐07‐2016: Ministry of Finance issued a notification to provide a

modified format for quarterly return, ER‐8, for return of excisable goods cleared at the

Central Excise duty rate of 1% [including articles of jewellery or parts of articles of

jewellery or both, falling under heading 7113] or 2%.

Original link



25

12. Modified Format for Quarterly Return:


notification No. 35/2001‐Central Excise (N.T.) so as to:

(i) provide that a person engaged in the manufacture of articles of jewellery or parts of

articles of jewellery or both, falling under chapter heading 7113 of the First Schedule to

the Central Excise Tariff Act, 1985 (5 of 1986) may get himself registered by 31st day of

July, 2016;

(ii) exempt a person engaged in the manufacture of articles of jewellery or parts of

articles of jewellery or both, falling under chapter heading 7113 of the First Schedule to

the Central Excise Tariff Act, 1985 (5 of 1986) from the requirement to submit plan of the

factory premises under simplified registration procedure.

Original link


13. Amendment in notification No. 17/2006‐Central Excise (N.T) dated the 1st August, 2006:


notification No. 17/2006‐Central Excise (N.T) dated the 1st August, 2006 so as to exempt

a manufacturer or principal manufacturer of articles of jewellery or parts of articles of


1986) from filing of annual return.

Original link


14. Amendment in notification No.36/2001‐Central Excise (N.T.) dated 26th June, 2001:


notification No. 36/2001‐Central Excise (N.T.) dated 26th June, 2001, so as to exempt a

manufacturer or principal manufacturer of articles of jewellery or parts of articles of


1986) from taking central excise registration upto the full exemption limit.

Original link



26

Bombay Stock Exchange


DCS/COMP/05/2016‐17 dt. 05‐07‐2016: BSE issued a Circular with reference to Securities

and Exchange Board of India (SEBI) Circular No. CIR/CFD/FAC/62/2016 dated July 05, 2016

regarding Disclosure of the Impact of Audit Qualifications by the Listed Entities.

Original link

http://www.bseindia.com/downloads/whtsnew/file/Circular%20Formats%20for%20FinRes%2005JULY2016.pdf

2. Securities And Exchange Board Of India (Listing Obligations And Disclosure

Requirements) (Second Amendment) Regulations, 2016:

Securities and Exchange Board of India (SEBI) has notified amendments to the Listing

Obligations And Disclosure Requirements) Regulations, 2015 on July 08, 2016; with

reference to the same BSE issued a Circular No. DCS/COMP/06/2016‐17 dt. 14‐07‐2016

for Securities And Exchange Board Of India (Listing Obligations And Disclosure

Requirements) (Second Amendment) Regulations, 2016.

Original link

http://www.bseindia.com/downloads/whtsnew/file/SEBI%20LODR%202nd%20Amendment%202016.pdf


27

National Stock Exchange


Circular Ref No: NSE/CML/2016/10 dated: July 05, 2016 issued by NSE to listed companies

regarding revised formats for financial results and implementation of Ind‐AS by listed

entities.

Original link https://www.nseindia.com/content/equities/NSE_Circular_05072016.pdf

2. Securities and Exchange Board of India (Listing Obligations and Disclosure

Requirements)(Second Amendment) Regulations, 2016:

Circular Ref No: NSE/CML/2016/11 dated: July 15, 2016 issued by NSE to listed companies

regarding Securities and Exchange Board of India (Listing Obligations and Disclosure

Requirements)(Second Amendment) Regulations, 2016.

Original link https://www.nseindia.com/content/equities/NSE_Circular_15072016.pdf


28

Disclaimer:

The information contained in this Updates letter is general in nature and does not take into account your personal

situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek

professional advice from relevant adviser.

Taxation, legal and other matters referred to on this letter are of a general nature only and are based on circulars or

notifications or information gathered from relevant sites of different authorities and of laws existing at the time and

should not be relied upon in place of appropriate professional advice. Those laws may change from time to time.

Although every effort has been made to verify the accuracy of the information contained in this Updates letter,

Priyanka Mishra & Associates (Company Secretaries), disclaims all liability, for any error, inaccuracy in, or omission

from the information contained in this letter or any loss or damage suffered by any person directly or indirectly

through relying on this information.

Office Address Map:


29

Regards,

CS Priyanka Mishra

(Proprietor)

M/s Priyanka Mishra & Associates

Company Secretaries

202, 2nd Floor, Sterling Arcade,

Race Course Road, Old Palasia,

Indore, Madhya Pradesh‐452001

Contact No: 0731‐4004473, 09827482031

E‐mail: [email protected]

Web: www.cspriyankamishra.com

Priyanka Mishra Associates · PRIYANKA MISHRA & ASSOCIATES ... MCA issued a notification No. GSR 695 (E) ... and MGT‐7 under the Companies Act, 2013: ...

Documents