DGFT Expands GAICT Coverage for SCOMET Items in Appendix 10M of FTP 2023
The DGFT has amended Appendix 10M of the Handbook of Procedures (HBP) 2023 to expand the coverage of items under Global Authorization for Intra-Company Transfer (GAICT) policy for export / re-export of items including software and technology under SCOMET Category 8
Interest Equalization Scheme Extended to December 31, 2024: Key Changes for MSMEs
The Government of India has extended the Interest Equalization Scheme for Pre and Post Shipment Rupee Export Credit until December 31, 2024
Amendment for Provisions for Pending Proceedings
The Companies (Adjudication of Penalties) Second Amendment Rules, 2024 modifies the 2014 Rules under the Companies Act, 2013
Reverse Charge Mechanism on Renting of Immovable Property other than Residential Dwelling
The service by way of renting of any property other than residential dwelling by a un-registered person to a registered person, has also been covered under reverse charge mechanism.
Responsibilities of Principal Auditor and Other Auditors in Group Audits
A Circular has been issued by the National Financial Reporting Authority under Section 132(2) (b), (c), and (d) of Companies Act, 2013 read with Rule 4(1), 4(2)(e) and Rule 9 of NFRA Rules 2018 with respect to responsibilities of Principal Auditor and Other Auditors in Group Audits.
MoEFCC notifies Ecomark Rules, 2024
In alignment with the ‘LiFE’ (Lifestyle for Environment) Mission announced by Prime Minister Sh. Narendra Modi in 2021, the Ministry of Environment, Forest and Climate Change has notified the Ecomark Rules on 26th September 2024. It replaces the Ecomark scheme of 1991.
Intro of the single filing system through API-based integration b/w Stock Exchanges
It may be noted that for exclusively Debt listed companies, REITs and INVITs the said disclosure will fall under API integration in subsequent phase. In view of the same, the said companies would continue to make the disclosures on both the Exchanges as per the current practice.
Relaxation of Regulation 36(1)(b) & 44(4) of SEBI(LODR) till September 30, 2025
It is pertinent to note that the listed entities shall ensure compliance with the conditions stipulated at para 5.1 and 5.2 of section VI-J of chapter VI of the Master Circular dated July 11, 2023 on compliance with the provisions of the LODR Regulations while availing the relaxations specified.
GSTN e-Services App to Replace e-Invoice QR Code Verifier shortly
GST Department has released an advisory stating that a new GSTN e-Services app would be launched shortly which would replace the old e-Invoice QR Code Verifier App.
Procedure for making declaration & undertaking in Form-1 under DTVSV Rules
Director General of Income Tax (Systems), Bengaluru has further issued a Notification detailing the procedure for making declaration and furnishing undertaking in Form-1 under Rule 4 of The Direct Tax Vivad Se Vishwas Rules, 2024