PRIYANKA MISHRA & ASSOCIATES (COMPANY SECRETARIES) JULY, 2016
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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
PRIYANKA MISHRA & ASSOCIATES (COMPANY SECRETARIES) JULY, 2016
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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
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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
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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.
PRIYANKA MISHRA & ASSOCIATES (COMPANY SECRETARIES) JULY, 2016
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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
http://www.mca.gov.in/Ministry/pdf/Rules_19072016.pdf
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
http://www.mca.gov.in/Ministry/pdf/Rules_22072016.pdf
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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
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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
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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
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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.
Original link http://www.incometaxindia.gov.in/communications/notification/notification592016.pdf
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.
Original link http://www.incometaxindia.gov.in/communications/notification/notification602016.pdf
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:‐
Original link http://www.incometaxindia.gov.in/communications/notification/notification612016.pdf
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
PRIYANKA MISHRA & ASSOCIATES (COMPANY SECRETARIES) JULY, 2016
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Government of the Republic of India and the Government of Saint Kitts and Nevis for the exchange of information relating to taxes :‐
Original link http://www.incometaxindia.gov.in/communications/notification/notification62_2016.pdf
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:‐
Original link http://www.incometaxindia.gov.in/communications/notification/notification63_2016.pdf
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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
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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
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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
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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
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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
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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
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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
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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
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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.
Original link http://www.sebi.gov.in/cms/sebi_data/attachdocs/1468404844078.pdf
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.
Original link http://www.sebi.gov.in/cms/sebi_data/attachdocs/1468572776249.pdf
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
PRIYANKA MISHRA & ASSOCIATES (COMPANY SECRETARIES) JULY, 2016
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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
PRIYANKA MISHRA & ASSOCIATES (COMPANY SECRETARIES) JULY, 2016
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4. Minimum Export Price (MEP) on export of Potato:
Notification No. 15/2015‐2020 dated: July 26, 2016 issued by Government of India,
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:
Notification No. 16/2015‐2020 dated: July 27, 2016 issued by Government of India,
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
PRIYANKA MISHRA & ASSOCIATES (COMPANY SECRETARIES) JULY, 2016
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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
http://www.cbec.gov.in/resources//htdocs‐cbec/excise/cx‐act/notifications/notfns‐2016/cx‐tarr2016/ce28‐2016.pdf
PRIYANKA MISHRA & ASSOCIATES (COMPANY SECRETARIES) JULY, 2016
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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
http://www.cbec.gov.in/resources//htdocs‐cbec/excise/cx‐act/notifications/notfns‐2016/cx‐tarr2016/ce29‐2016.pdf
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
http://www.cbec.gov.in/resources//htdocs‐cbec/excise/cx‐act/notifications/notfns‐2016/cx‐nt2016/cent32‐2016.pdf
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
http://www.cbec.gov.in/resources//htdocs‐cbec/excise/cx‐act/notifications/notfns‐2016/cx‐nt2016/cent33‐2016.pdf
PRIYANKA MISHRA & ASSOCIATES (COMPANY SECRETARIES) JULY, 2016
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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
http://www.cbec.gov.in/resources//htdocs‐cbec/excise/cx‐act/notifications/notfns‐2016/cx‐nt2016/cent34‐2016.pdf
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
http://www.cbec.gov.in/resources//htdocs‐cbec/excise/cx‐act/notifications/notfns‐2016/cx‐nt2016/cent35‐2016.pdf
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
http://www.cbec.gov.in/resources//htdocs‐cbec/excise/cx‐act/notifications/notfns‐2016/cx‐nt2016/cent36‐2016.pdf
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
http://www.cbec.gov.in/resources//htdocs‐cbec/excise/cx‐act/notifications/notfns‐2016/cx‐nt2016/cent37‐2016.pdf
PRIYANKA MISHRA & ASSOCIATES (COMPANY SECRETARIES) JULY, 2016
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12. Modified Format for Quarterly Return:
38/2016‐CENT dt. 26‐07‐2016: Ministry of Finance issued a notification to amend
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
http://www.cbec.gov.in/resources//htdocs‐cbec/excise/cx‐act/notifications/notfns‐2016/cx‐nt2016/cent38‐2016.pdf
13. Amendment in notification No. 17/2006‐Central Excise (N.T) dated the 1st August, 2006:
39/2016‐CENT dt. 26‐07‐2016: Ministry of Finance issued a notification to amend
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
jewellery or both, falling under heading 7113 of the Central Excise Tariff Act, 1985 (5 of
1986) from filing of annual return.
Original link
http://www.cbec.gov.in/resources//htdocs‐cbec/excise/cx‐act/notifications/notfns‐2016/cx‐nt2016/cent39‐2016.pdf
14. Amendment in notification No.36/2001‐Central Excise (N.T.) dated 26th June, 2001:
40/2016‐CENT dt. 26‐07‐2016: Ministry of Finance issued a notification to amend
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
jewellery or both, falling under heading 7113 of the Central Excise Tariff Act, 1985 (5 of
1986) from taking central excise registration upto the full exemption limit.
Original link
http://www.cbec.gov.in/resources//htdocs‐cbec/excise/cx‐act/notifications/notfns‐2016/cx‐nt2016/cent40‐2016.pdf
PRIYANKA MISHRA & ASSOCIATES (COMPANY SECRETARIES) JULY, 2016
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Bombay Stock Exchange
1. Revised Formats for Financial Results and Implementation of Ind‐AS by Listed Entities:
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
PRIYANKA MISHRA & ASSOCIATES (COMPANY SECRETARIES) JULY, 2016
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National Stock Exchange
1. Revised Formats for Financial Results and Implementation of Ind‐AS by Listed Entities:
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
PRIYANKA MISHRA & ASSOCIATES (COMPANY SECRETARIES) JULY, 2016
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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:
PRIYANKA MISHRA & ASSOCIATES (COMPANY SECRETARIES) JULY, 2016
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