Threshold Limit for Coverage under ESIC The Government, in principle, decided to enhance the threshold limit of wage for coverage under the Employees’ State Insurance (ESI) Act, 1948 from existing Rs.15,000/- pm to Rs. 21,000/- pm. For this purpose, a Notification had been issued on 06.10.2016 inviting suggestion/objections from all stakeholders. As on 31.03.3016, the… Read More »
The Central Government takes various decisions for the benefit of farmers in the current Rabi Season and to promote digital payments in the economy. Following the cancellation of legal tender character of old Rs. 500 and Rs.1000 notes, a number of measures have been announced by the Union Government, taking into consideration the requirements of… Read More »
GST Council Meeting rescheduled on 2nd-3rd December, 2016 Three draft GST related Laws – Model Goods & Service Tax; Integrated Goods and Service Tax (IGST) and Goods & Service Tax (Compensation to the States for loss of Revenue) were discussed at length for two days on 21st – 22nd November, 2016 in the Officers’ Level… Read More »
CBDT Signs Four Unilateral Advance Pricing Agreements pertaining to various sectors of the economy including pharmaceuticals, Information Technology and Construction. The Central Board of Direct Taxes (CBDT) has entered into four more unilateral Advance Pricing Agreements (APAs) on 22nd and 23rd November, 2016. Some of these agreements also have a “Rollback” provision in them. With… Read More »
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 1st October, 2016 S.O. 3111(E).—In exercise of the powers conferred by section 189 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints Sh. Madhu Sudan Sahoo, as Chairperson of the Insolvency and Bankruptcy Board of India with effect from 1st October,… Read More »
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 1st October, 2016 S.O. 3110(E).-In exercise of the powers conferred by sub-section (1) and (3) of section 188 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints 01st October, 2016 as the date of establishment of Insolvency and Bankruptcy Board of… Read More »
Insolvency and Bankruptcy Board (IBBI) of India notifies two Regulations; The IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 and IBBI (Insolvency Professional Agencies) Regulations, 2016. The Insolvency and Bankruptcy Board of India (IBBI), in exercise of its powers conferred under section 240 of the Insolvency and Bankruptcy Code, 2016, has… Read More »
Insolvency and Bankruptcy Board (IBBI) of India notifies (Insolvency Professional) Regulations, 2016; Regulations inter alia provide for registration, regulation and oversight of insolvency professionals under the Code; These regulations to come into effect from 29th November, 2016. The Insolvency and Bankruptcy Board of India (IBBI), in exercise of its powers conferred under Section 240 of… Read More »
Airtel Payments Bank Limited commences operations Date : Nov 23, 2016 Airtel Payments Bank Limited has commenced its operations as a payments bank with effect from November 23, 2016. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of… Read More »
Deposit of specified banknotes (SBN) in Small Savings Schemes RBI/2016-17/151 DCM (Plg) No.1351/10.27.00/2016-17 November 23, 2016 The Chairman / Managing Director/Chief Executive Officer, Public Sector Banks / Private Sector Banks / Foreign Banks / Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks Dear Sir, Deposit of specified banknotes (SBN) in Small Savings… Read More »