The Central Government requires companies to display their annual returns on company websites from 28th August 2020
The Central Government has appointed 28th August 2020 as the date on which the provision of section 23 clause (ii) of the Company (Amendment) Act, 2017 shall come into force. As per the said provision of the Company (Amendment) Act, 2017, every company is required to place a copy of the annual return on the website of the company. Further, the web-link of such annual return must be disclosed in the report of the Board of Directors.
The Government of Delhi amends the special procedure for the payment of tax and furnishing of returns of a specified class of persons
The present notification clarifies that persons who have furnished returns in Form GSTR-3B under the Delhi Goods and Service Tax Rules, 2017 instead of furnishing statement of details of payment of self-assessed tax in form GST CMP-08, shall not be required to furnish a statement in the outward supply of goods or services or both in Form GSTR-1. In such cases, these persons will also not be required to furnish statements of details of payment of self-assessed tax in form GST CMP-08 for all tax periods of the financial year 2019-2020. This benefit applies only to tax periods of the financial year 2019-2020.
The Governor of Bihar notifies the Bihar GST (Tenth Amendment) Rules, 2020
The Amendment stipulates that from 21st August 2020, an applicant for registration under the Bihar Goods and Service Tax Act, 2017, has the option of authenticating his Aadhaar number while making an electronic application for registration. Prior to this Amendment, the applicant was required to undergo authentication of Aadhaar number while submitting his application for grant of registration and was not given an option in this matter. The Amendment also states that where a person fails to authenticate/ does not opt to authenticate his Aadhaar number, the registration will be granted only after physical verification of the place of business. However, the Amendment now also allows an officer to carry out verification of documents instead of physical verification of premises on fulfillment of certain conditions.
Ministry of Labour extends the public utility service status of industries engaged in foodstuff.
The Labour Ministry has declared that the services of the industry engaged in foodstuffs covered under item 6 of the First Schedule to the Industrial Disputes Act, 1947, for the purposes of the said act, to be a public utility service for a further period of six months
The Companies (Management and Administration) Amendment Rules, 2020.
The extract of annual return shall be attached with the board report in Form MGT 9, provided that a company shall not be required to attach the extract of the annual return with the Board’s report in Form No. MGT.9, in case the web link of such annual return has been disclosed in the Board’s report.
Punjab PCB revises the procedure for obtaining one-tome authorization to import other waste.
The one-time authorization shall be granted for a specified quantity of waste and not in terms of per month and when this specified quantity of waste is imported then the online authorization shall come to an end.
The Central Government adds to the lists of controlled substances through the NDPS (Regulation of Controlled Substances) Amendment Order 2020
The Amendment includes two more substances into the list of Schedule A Substances. These are substances whose manufacture distribution, sale, purchase, possession, storage and consumption are in accordance with the Narcotic Drugs and Psychotropic Substances (NDPS) Order, 2013. It also adds 4 substances to both, Schedule B and Schedule C. These Schedules cover substances whose export and import, respectively, are subject to the NDPS Order, 2013.
Central Government revises the working days of the Debt Recovery Tribunal
The amendment brings forth a change in the working days of the Debt Recovery Tribunal. The office of the Tribunal will now be closed on Fourth Saturdays as well. Prior to this Amendment, the Tribunal was open on all days except Second Saturdays, Sundays and public holidays. The office hours remain unchanged, i.e. from 10 am to 6 pm and only urgent work is admitted after 4:30 pm on any given working day.
SEBI extends the timeline for implementation of circular on grievances against proxy advisors.
the circular issued on 4th August was scheduled to come into effect from 1st September but the regulator has further extended the timeline for its implementation by four months to January 1, 2021.
SEBI extends the timeline for the implementation of procedural guidelines for proxy advisors.
SEBI has also made it mandatory for the proxy advisors to share their reports with their clients and the company at the same time, among other requirements.
