TN Shop & Establishment Act amended with respect to leave with wages
In exercise of the powers conferred by Section 27 of the Tamil Nadu Shops and Establishments Act, 1947 (Tamil Nadu Act XXXVI of 1947), the Governor of Tamil Nadu, vide notification dated 14th November 2018, has increased the maximum number of holidays with wages that could be accumulated by an employee as per the proviso […]
TamilNadu Govt amends TN Contract Labour and Maternity Benefit Rules
The Tamil Nadu Government has passed notification on 28 November 2018 amending the provisions of Tamil Nadu Contract Labour (Regulation and Abolition) Rules. In the said Rules, after the proviso to sub-rule (2), of rule 82, the following proviso has been added:- “Provided further that no annual return in Form No. XXV need be sent […]
Tamil Nadu imposes stamp duty on M&A property deals
The registration department of Tamil Nadu has issued a circular to clarify that the transfer of property taking place under the Companies Act, through the scheme of arrangements for merger or demerger of the companies would be classified as the conveyance, on which stamp duty is applicable. Tamil Nadu has joined many other States that already have this provision. […]
Companies should provide details of auditors to MCA
MCA vide its notification dated 13th November 2018 notified National Financial Reporting Authority (NFRA) Rules 2018 Key aspects specified by the NFRA rules are Classes of companies and bodies corporate governed by the NFRA Authority, Functions and duties of the NFRA Authority, Annual return, Recommending accounting standards and auditing standards, Monitoring and enforcing compliance with […]
Cabinet approves ordinance to amend Companies Act
The President of India has, on 2nd November 2018, promulgated Companies (Amendment) Ordinance, 2018 (“Ordinance”) to amend certain provisions of the Companies Act, 2013 (“Companies Act”). The Ordinance, which came into force on the same date, has made over thirty amendments to the Companies Act. The amendments introduce changes to improve compliance and corporate governance, […]
GST Common portal adds facility for filing refund application for multiple tax period
Taxpayers filing refund application for ITC accumulated on account of export goods or services without payment of tax and on account of supplies of goods & services made to SEZ unit/SEZ Developers without payment of tax, had now been provided with facility to apply for refund for multiple tax period. Refund application can be filed […]
FSSAI to prohibit terms like pure, natural, authentic on packaged foods
The Economic Times| Nov 13, 2018| New Delhi Food companies cannot use words such as ‘natural’, ‘fresh’, ‘original’, ‘traditional’, ‘pure’, ‘authentic’, ‘genuine’ and ‘real’ on the labels unless the product is not processed in any manner except washed, peeled, chilled and trimmed or put through other processing which could alter its basic characteristics, as per […]
Report complaints on sexual harassment at workplace every three months: Chennai DC to firms
Times of India| Nov 21, 2018 CHENNAI: Private companies and government run institutions in the city with more than 10 employees must periodically send their action taken reports on complaints filed under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 every three months to the Chennai district collectorate. In a statement […]
Disclose reasons for delay in financial results within a day: SEBI tells listed entities
Sebi noted that there have been delays in submission of financial results by entities in the past, but the reasons were not brought out clearly. Sebi on 19th Nov issued a circular which mandates every listed companies to disclose detailed reasons for delay in submission of financial results to the stock exchanges within one working day […]
